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Data, Market Intelligence, & Benchmarking Solutions *

Market Summary – Data, Market Intelligence, & Benchmarking

Market Overview

Capsolve’s industries of coverage have historically relied upon internal data sources. However, about twenty years ago, more third-party data sources entered the scene. Now, there are more data sources and multiple options to choose from each type. For example, numerous solutions exist for inserting pricing data into your market analysis. Whether considering hotel rooms, vacation rentals, restaurant menu items, memberships, or rounds of golf, you may have numerous products that could supply data of interest. This article organizes the wealth of data to help you rebuild, survive, or flourish in today’s market.

Marketplace Context

Capsolve segments the solutions its research uncovered into 15 data and intelligence solutions categories. Most of these are provided by companies with data products or services designed for defined business purposes. Others result from a business partnership where data is a compelling reason for the partnership to exist.

While many of the products we researched are, in fact, part and parcel of our industry, others are generally available from companies beyond our collective marketplace and various government agencies. Selected companies even provide the service of aggregation to make the data more accessible. When all is said and done, there are many opportunities to find and blend data sources into any company’s business processes and decision-making.

As with software, companies prioritizing data must consider the cost of acquiring and managing it when calculating the return on investment they may garner. Furthermore, these data are potential input sources for many of the leading-edge technologies infiltrating the marketplace today, such as Artificial Intelligence and Machine Learning.

Sales & Marketing Considerations

Powering your sales and marketing efforts with data is essential in this day and age to compete. Whether you supplement your CRM data with company, contact, event, lead, demographic, behavioral, or other types of information, this data is now table stakes for most marketing programs. While the cost is not trivial, buying supplementary or selected elements of core data as fuel for your sales and marketing efforts is often less expensive than building and maintaining the data yourself. Understanding what data is needed, how it will influence your business processes, and how your company will manage the data efficiently are paramount to success.

Current Trends

The following suggestions are founded on practical principles and quickly finding solutions to real-world issues and opportunities. These trends, and others that eventually replace them, may be useful when considering your purchase of Data Sources within these industry segments.

1. More data sources are becoming available as online services, which changes how your system infrastructure consumes them.
2. More companies have decided to monetize their data assets in recent years, making them accessible as products, services, and partnerships.
3. Bringing these new data sources into your data ecosystem has implications for data architecture, including storage, cleansing, matching, normalization, performance, and service levels.

As you ponder the future and what Marketing & Technology needs you may have, here are some questions your business may want to answer:

1. What implications does this have on a data ecosystem consisting of internal and external data sources?
2. How could I estimate the financial implications when data is connected and shared across our systems, originates from multiple companies, and lives in various forms?
3. How will my business manage the new responsibilities and systems that arise from better data management practices?

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About this Report

This document reviews the marketing information and capabilities of this category’s solutions and the surrounding technology ecosystem. It contains original content written by Capsolve to provide a perspective of current trends affecting one or more of the hotel, restaurant, golf course, and country club industries. The analysis covers a statistically significant portion of the previously defined category marketplace.