An integral part of reporting practices stems from adequate online research. Website reporting without an understanding of the “competitive landscape” does not enable competitive comparisons.
Once target or vertical markets are identified and their composition is understood, legitimate spying can occur. Legitimate spying is the review of what competitors are doing online. This includes Website changes or improvements as well as conducting online in-depth research on company links, business relationships, search engine performance, and “in-the-news” information on principals.
The Web is a vast repository of past and current information. Critical bits of information can be extracted if research is conduced properly. Researching competitor and industry changes or forecasts is efficient and less expensive online. Researchers in the past were limited to paper resources produced by a limited number of research firms. Today, information is stored in vast libraries that contain millions of digital records. Knowing where and how to look for online information is critical to uncovering beneficial data. The adage, “its out there” is certain true if you know how to uncover it.
Online reporting systems include: Web analytics, competitive analysis, industry or market forecasts and trends, and technology evolution. While Web analytics are typically software driven, competitive analysis, industry forecasts and trends, and technology changes require continual monitoring. Monitoring reliable sources for this type of information requiring constant review and updating.
Reporting systems once established are an integral part to driving online Websites
and e-business. The continual tread of vial information steers Web development
and design. Websites that are “consumer centric” evolve based on
consumer needs and demand. The greatest mistake made today is the assumption
business people and Web professionals know what consumers want. Consumer must
guide the evolutionary process of Web development in order to avoid disconnects
between perceived consumer needs and real consumer needs.
