Newer Revenue Channels – It is Possible for Research and Advisory Companies
In the year 2005, a total of 189 companies based in North America and 123 Asian companies were included in the Fortune 500. Contrast this with the Fortune 500 in 2014. There were only 141 North American companies and but 197 Asian companies who figure in the Fortune 500 list. Whereas USA companies figuring in the list have seen a sharp decline between this period (from 175 to 131), there has been an equally smart rise in the list of companies out of China (from 18 to 95).
In this year’s Global 2000 there are 200 new comers. The companies from USA and China dominate the list, with Japan placed a distant third followed by United Kingdom. Companies like Alibaba, Facebook, Starbucks and Monster Beverage have jumped 100s of places displacing many companies which were previously well established in the list. China actually displaced Japan to be the number two country in the Forbes Global 2000. There are more Asian companies in the Global 2000 than North America at present.
These are very interesting times. The global marketplace is seeing unprecedented rate of changes. The traditional brick and mortar businesses who are slow to acknowledge the irreversible changes or slow to adapt to the market dynamics are increasingly getting displaced by new age companies.
The information overload and the big data is being mined feverishly across almost every industry for insights on how to create new value, how to find a new stream of revenue, how to optimize the costs, how to delight the customers and so on and so forth. Competition information is even harder to find because yesterday’s competitor is no longer today’s and there is no guarantee who will be tomorrow’s competitor and where will it emerge from.
Corporations with deep pockets pay technology and market analyst firms over $20 billion every year for unbiased research reports to help them with objective knowledge about the continuously evolving technologies, new research areas, and market dynamics etc. The buyers (corporates of every size) of these services from technology and/or market research analysts is not satisfied with one report from one analyst firm for one industry vertical and in one geography. The need or appetite for such third party, respectable research data is growing, sometimes faster than the dynamics of the global markets.
The comprehensive analyst reports is therefore available at a premium. Not every business is able to buy multiple of these reports from multiple research analysts to be able to strategize and re-strategize. But at the same time, the businesses do not need everything that is contained in these large volumes of research material. The businesses need access to just the right amount of information and analysis that is relevant to them at the right time.
Why pay for full research report when the need is very specific?
Why should the corporates not be able to pay-as-they-go or ‘pay-per-use’?
Why can the analyst firms not make this ‘static large volumes of research’ material available to people who need ‘just that specific set of data which is contained in few pages of the same research’ dynamically at a fraction of the price of the full report and increase their market reach and influence?
The good news is, this problem has just the right solution that every research analyst firm would need and irrespective of which industry and in whichever end-user market or technology area that the firm champions.
Do visit us at www.happiestminds.com to know more about mCaaS™ ( managed content as a service ) platform.
Raju is a former Happiest Mind and this content was created and published during his tenure.
