Ever looked at your phone during the day and felt intimidated by the large quantity of information available to you with one scroll? Probably.
Now, imagine put this situation under the business scope. There, things tend to get more complicated. Enterprises, government agencies, non-profit organizations or even individuals need all kinds of information to function professionally.
Thanks to the internet, the information market is decentralized and available to the vast majority of people worldwide. News and opinions travel around the world in an instant, shaping minds, opinions and, often, policies.
The issue raised is that there’s too much information to process in one sitting and, even if you try to do so, you might miss the opportunity to gain an advantage over your competitors or address a matter before it grows in size and popularity with harmful results for your business.
So, how do you find your way through this “jungle”?
Media monitoring has been, and still is, a preferred way of reviewing editorial content by news agencies, social media trends, word of mouth mentions, TV commentaries, etc, since press clipping grew out of fashion.
According to research published on globalnewswire.com under the title “Media Monitoring Tools Market to touch US$4.22 Billion by 2022”, “as per the estimations of this study, the worldwide market for media monitoring is expected to stand at a value of US$2.23 bn by 2017 end. Researchers at TMR project the market to expand tremendously at the CAGR of 13.60% over the period from 2017 to 2022, presenting an opportunity worth US$4.22 bn by the end of the forecast period.”
So, what is the issue here?
While media monitoring’s prominence cannot be questioned, the digital environment never ceases to change and evolve, and so should businesses.
The new issue at hand is to understand ‘for whom the bell tolls’ in time, improving coordination and response times inside business.
Surviving in the global market should not only depend on data reports derived from websites, social media, etc.
Our main question needs to change from ‘what’ to ‘why’.
In order to understand the data given, it is necessary to know its ‘raison d’etre’, otherwise, you might as well make a hole in the water.
This is where Media Intelligence comes into place. Media Intelligence is the ‘homo sapiens’ of Media Monitoring, its next level, and it relies on: social listening, data management, advanced measurement and analytics and distribution.
Media Intelligence combines the right mingling of technology, expertise, methodology and process to generate digital data of better quality and speed.
It is not the strongest or the most intelligent who will survive but those who can best manage change.Leon C. Megginson