Taxonomy has the onus of making market and competitive intelligence precise. In the context of market and competitive Intelligence, Taxonomy is trusted as the principle that systematically organizes information using predefined terms. Learn more about taxonomies here: https://www.contify.com/blog/the-art-and-science-of-taxonomy-development-for-market-and-competitive-intelligence/?utm_source=Slideshare&utm_medium=social&utm_campaign=traffic_2020

1. The Art and Science of
Taxonomy Development for
Market and Competitive
Intelligence
Taxonomy Collection

2. Table of Contents
→ Introduction – An overview on Taxonomy
→ Benefits of Taxonomy in Market and Competitive
Intelligence
→ Storing
→ Retrieval
→ Analysis
→ Conclusions and takeaways

3. Introduction
— Overview on Taxonomy

4. What is Taxonomy?
Taxonomy has the onus of making market and
competitive intelligence precise.
→ Taxonomy is about the naming of things and organizing them in categories.
→ In the context of market and competitive Intelligence, Taxonomy is trusted as the principle that
systematically organizes information using predefined terms.
→ It helps in arranging the information (actionable insights) in hierarchies of superior and
subordinate groups.
→ It helps the analyst to score relevance and structure timeline of strategic insights.
→ The applications of the taxonomy concepts are universal. The awareness and application of
taxonomy is equally poor.
→ For example, organizations addresses its employees as ‘team members’ or ‘staff-members’? But
Disney explored an out of the box approach to call their park employees ‘cast members’. So,
these are the small things that lead us to a collective perspective in developing growth of a
business model.

5. How does Taxonomy
helps?
— Storing
— Retrieval
— Analysis

6. Storing1
→ Different organizations have unique
approaches to store the relevant database as
per their requirement.
→ Mostly business models work on ‘shared with
all’ kind of data drives so that everyone is on
the same page while leveraging insights for
different purposes.
→ Storing of data need to be in a categorized
form which is called indexing of data to
streamline interpretations of different
information.

7. Retrieval2
→ The decision-makers of the organization
highly depend on the retrieval of the correct
information.
→ There can be cost associated when relevant
information is not retrieved correctly.
→ The consequences can even include
reinventing the information time and again.
→ The structured approach of taxonomy, one
can be efficient in collecting the information,
analyzing it, and disseminating it.

8. Analysis3
→ The most important part of the process is
extracting insights to be incorporated in
strategies.
→ The analyst use topics relevant to their
business dimension to filter out relevant
content and then eventually add topics that
reflect the analysis perspective.
→ The dissemination mode of information is
also peeped through via analysis.
→ Such a taxonomy dimension works for
business models in multiple dimensions.

9. Conclusions and takeaways

10. → Business models run in structure and hierarchy.
And so is information.
→ Without a proper structuring, Competitive
Intelligence is simply plain data.
→ Without taxonomical inputs, intelligence
(actionable information) is inherently
unstructured without any shape or form.
→ Different tools and techniques better the
taxonomy in Competitive Intelligence
→ Competitive Market Intelligence solutions ease
the taxonomy creation and maintenance
process.
Principles of taxonomy are
essential for working on
Competitive and Market
Intelligence.
Key takeaways

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