In the complex matrix of the quantum technology industry, quantum data and market intelligence are critical elements that form a successful framework for effective decision-making. This article investigates the critical role of quantum data and business intelligence, explores its hidden nature, the transformation of raw data into actionable insights, and the profound impact it has on decision-making and strategy formulation.
This article is only possible because of a more detailed and free downloadable whitepaper: “The Importance of Data and Intelligence in the Quantum Technology Industry”.
Significance of Quantum Data and Intelligence in the Quantum Technology Industry
Data is the foundation of any business, providing the foundation for informed decision making. Business intelligence, the process of turning raw data into actionable insights, is widely recognized as the second most important driver of strategic and operational value, with the first being human resources.
However, the surge in the availability of data from open sources in recent years has made it even more challenging to track and segment. It’s contrarian, but with an explosion of data points, the difficulty of separating weed from chaff follows the same curve. And quantum technology is one of the most resonant industries.
The Elusiveness of Quantum Data and Business Intelligence in the Quantum Technology Industry
An industry is considered complex when it exhibits two characteristics: the existence of several feasible solutions to a single problem, and the rapid and comprehensive changes that are transforming the industry. (1) The quantum technology industry, still in its infancy, fits this description perfectly. It comprises hundreds of startups, academic groups, investors, government players and emerging end users. However, the quantum technology industry is not yet fully aware of its potential solutions, value areas and overall potential.
This is important because research shows that companies operating in complex industries must be highly adaptable to change through frequent strategy changes and innovation, both of which rely heavily on reliable data. (2)
As a result, many quantum technology stakeholders withhold structured and comparable information, recognizing its strategic value. And thus, leaving others to mine the data of press releases, research papers, blog posts, patent filings, LinkedIn posts, and so on for valuable insights.
“The lack of coherent data is causing decoherence in the industry quantum technology, tinkering with impact and possibility.” – The Importance of Data and Intelligence in the Quantum Technology Industry whitepaper
However, simply having data is not the same as actionable business intelligence.
Just Having Quantum Data Is Not Enough
Data without context is just a series of symbols. For example, 05072023 is meaningless until it is clarified as a date. Therefore, data must be refined, synthesized and disseminated into business intelligence, which must then be translated into actionable insights to form the basis of effective decision-making.
In a freely accessible world Big Language Model like Chat-GPT, it is now relatively easy to “get AI” to retrieve lists of data on complex ecosystems, including quantum. However, this data is unreliable, poorly structured, and requires constant going back and forth to elicit and fact-check what is needed.
To illustrate the need for sound interpretation, a simple sentence like “John reads the letter to Mary” has more than 13 different ways to be understood: the data is the same.
Getting context is a complex process. This requires collecting, structuring and verifying complex market data. But the payoff is clear when the raw data is turned into effective decisions.
What Data Turns Into Actionable Insights
Actionable insights, verifiable and supported by data, yield multiple benefits when making decisions, shaping activities, and devising effective strategies. The entire list is found in The Quantum Insider whitepaper echoed by this article, but here are five of them:
Identify, Chart and Prioritize Quantum Supply Chains
Reliable quantum supply chain data can accurately synthesize businesses and suppliers across global quantum supply chains. By doing so, you can identify which suppliers to partner and collaborate with while keeping track of competitors. Expand your quantum network effectively while optimizing your supply chain performance.
Assessing and Predicting Market Demand in Quantum Technologies
Detailed market data will set the stage for trend prediction through assessing the current and future market potential for the quantum technology segment. (3) Ergo, you can discover if you are missing important market opportunities due to lack of insight, while planning for potential future markets.
Safeguarding the Future of the National Economy with Quantum Intelligence
Quantum technology has emerged as an essential component for national security and economic progress. Some experts even call it the next industrial revolution, which is thought to have a greater impact than the steam-powered revolution of the 18th century. Therefore, preparing the national economy to face this seismic shift requires establishing national research centers, formulating public policies, and initiating funding programs. These initiatives, when based on powerful quantum data, customize and promote targeted entities and specific areas of a country’s economy.
Discover High-Performance Quantum Businesses and Their Hidden Connections
Identifying current and potential valuable opportunities for investors in quantum technology is a difficult and complex task. And one thing only actionable insights can achieve, shed light on ecosystems hidden within the quantum and reveal investment opportunities that will go unnoticed.
Decision Retention in Verifiable Data and Insights
Reliable data and business intelligence not only provide a foundation for decision-making that reflects today’s quantum technology landscape. But they also increase the effectiveness of day-to-day operations based on factual market insights. This approach drives improved business decisions, leading to strategic advantages and operational efficiencies throughout your organization.
Transforming quantum data into actionable insights offers many benefits, extending across departments, sectors and entities. Naturally, what is needed is a lost data miner that effectively collects, distills, synthesizes, and visualizes quantum data and business intelligence.
Insider Quantum Intelligence Platform
While quantum technology data has increased in volume and availability, it is unstructured and stratified. Data requires classification, structure, and understanding. The Quantum Intelligence Platform empowers investors, startups, enterprises, accelerators, policy makers and governments to base their actions and decisions on solid and reliable data from the quantum technology landscape. Our platform has played a critical role for past clients in areas such as competitive intelligence, comparative analysis, general due diligence, mapping complex and interconnected ecosystems and exploring opportunities, including identifying new partners, suppliers or investment prospects.
Our TQI Intelligence Platform accomplishes this through six core features:
To structure the quantum technology industry, TQI Intelligence Platform classifies and segments each relevant stakeholder and subcategory to understand and get an overview of the quantum technology industry.
Detailed Entity Profile
All quantum entities, from investors to companies to universities, feature a special profile. This includes a brief description, location of headquarters, and total funding disclosed, along with appropriate primary and secondary classifications and labels.
Trusted Market Intelligence
Data alone is not enough. Quantum Insider demonstrates how quantum data can be turned into business intelligence through the consistent publication of free and premium reports, whitepapers and analytics.
Ecosystem Graphic Explorer
The TQI Intelligence Platform further implements powerful visualization tools, enabling you to graph dynamic and adaptive connection maps that showcase the complex ecosystems within the quantum technology industry.
Powerful Media Search
Many quantum technology entities rely on scanning and aggregating news and press releases to get a comprehensive picture of the fast-growing quantum industry. In response, the TQI Intelligence Platform simplifies this process with an efficient news and media search function, which allows filtering by 15+ languages, date range, reach and source, and country of origin.
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You can try our intelligence platform is free hereor contact Luke Preskey, our Commercial Director if you have any questions.
This article is based on our free whitepaper, which examines the same area in greater detail. If you are interested in further insight into the importance of data and its utilization for quantum technology players, you can download our whitepaper below.
(1) Schmidt M, Michalewicz M, Chiriac C. Adaptive Business Intelligence. 2006. https://doi.org/10.1007/978-3-540-32929-9.
(2) R De supporters, Rinaudo EK. Improve the management of complex business partnerships. 2019.
(3) Chugh R, Grandhi S. Why Business Intelligence? The Significance of Business Intelligence Tools and Integrating BI Governance with Corporate Governance. Int J E-Entrepreneursh Innov 2013;4:1–14. https://doi.org/10.4018/ijeei.2013040101.