Three Nexis® Tools to Help You Stay Ahead of the Competition
14 May 2020 09:49
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Knowledge is power. Research, in turn, is the pathway to gaining knowledge that will propel individuals and organizations forward. Business decisions backed by quality industry research and competitor knowledge separate sound strategy from metaphorical shots in the dark.
Tools like Nexis®help make research simpler by offering a variety of options to gather and sort through information. This efficient, high-quality research ultimately frees up resources to devote to even more research—or other strategic endeavours—positioning organizations a step ahead of others in the industry. Here’s how it works.
- Effortless Snapshots: Industry Insights
Taking a step back to look at an industry as a whole is no small task. Every industry comes with its own set of overlapping supply chains, consumer quirks, volatile market forces and a variety of other nuances. Researching these details one-by-one requires hours of investment to comb through dozens of sources. Even then, without the proper tools, vital information that could strengthen decision making may be missed.
Instead, Nexis® offers automated industry insight reports. With little more than a click, researchers can pull up a pre-populated search of historical news, regulatory filings, patents and industry trend reports for any major worldwide industry. From there, information can be filtered based on search terms, geography, date and more.
- Proactive Competitive Intelligence: Automated Alerts
The process of gathering competitive intelligence never truly ends. Each and every day, events occur that result in industry-wide changes ranging from relatively small to absolutely paradigm shifting. But the reality is that we all have ever increasing responsibilities pulling us in multiple directions, and few can devote time to proactively research industry changes with the frequency required to keep abreast of all the changes.
Setting up news and business alerts can resolve this pain point by automating part of the research process. Once a particular search—including searches of industry news and reports or those targeting a specific competitor—is perfected, alerts can be set to flag new developments within those search parameters. This helps ensure that important market shifts don’t fly under the radar with minimal additional man hours required.
- No Move Missed: Merger and Acquisition Reports
One of the fastest ways that companies can grow is through mergers and acquisitions. With a single transaction, industry supply chains can be consolidated, competitors can double in size and consumer expectations can dramatically shift. It’s not just the big players, either. While smaller companies can fly under the radar of competitive intelligence research, when a few small players band together through M&A an entire industry could be facing a disruption.
A specified Mergers and Acquisitions database helps to keep track of these types of shifts as they’re happening. By monitoring legal and financial filings, news reports and press releases, M&A can be tracked even before transactions are complete. With this knowledge, organizations can develop proactive strategies to respond to M&A with a competitive advantage.
But don’t take our word for it. These tools have helped organizations in multiple markets and industries put their best foot forward—and a step ahead of their competition
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