In a fast-developing industry, the ability to leverage data in a way that you profit from it will help you stay relevant and win in the market. But with all the data available these days, where do you start? And more importantly, what are the fundamentals of performing an analysis in the agri food industry? This page explains how to perform the three most fundamental analyses for agri food companies: benchmarking, industry analysis, and market monitoring.
Industry analysis is a tool used by businesses to outline and understand the competitive dynamics throughout the entire value chain. It provides companies in the agri food industry with an overview of what is happening in the industry, what changes are taking place in the value chain, the degree of competition within the value chain links, and what external factors might have a significant influence. An industry analysis helps business owners understand their company’s position compared to other players in other value chain links. Therefore, performing an industry analysis could be of great value to a company and its business owners.
Whereas an industry analysis helps agri food companies understand the dynamics in their industry and a benchmark helps them compare their position to their competitors, there is one other essential analysis agri food companies should perform to make well-informed business decisions based on data instead of a gut feeling.
Marketing monitoring helps agri food companies to evaluate their current position and development of that position objectively. Besides that, it helps to determine where new growth opportunities exist and where markets are saturated. These insights allow you to substantiate your choice to attack current and/or new markets and enable you to anticipate shifts in the market quickly.
Market monitoring helps agri food companies to get better insights into:
Their market share and how it is evolving in specific markets and product
Where the market is heading, by having insights into supply and demand dynamics on a regional or global scale
International trade and pricing insights to understand how the market structured