Within the complex matrix of the quantum technology industry, quantum data and market intelligence are the essential elements that form the framework of success for effective decision making. This article delves into the pivotal role of quantum data and business intelligence, exploring its hidden nature, the transformation from raw data to actionable insights, and the profound impact it has on decision-making and strategy formulation.
This article was only possible due to the more detailed and free-to-download whitepaper: “The Importance of Data and Intelligence in the Quantum Technology Industry”.
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The Significance of Quantum Data and Intelligence in the Quantum Technology Industry
Data is the bedrock of any business, providing the foundation for informed decision-making. Business intelligence, the process of transforming raw data into actionable insights, is widely recognized as the second most crucial driver of strategic and operational value, with the first being human resources.
However, the surge in data availability from open sources in recent years has made it increasingly challenging to track and segment. It is contrarian, but with the eruption of data points, the difficulty of separating the weed from the chaff follows on the same curve. And quantum technology is one of the industries where this is resonating the most.
The Elusiveness of Quantum Data and Business Intelligence in the Quantum Technology Industry
An industry is deemed complex when it exhibits two traits: the existence of multiple viable solutions for a single problem, and rapid, sweeping changes that transform the industry. [1] The quantum technology industry, still in its nascent stages, fits this description perfectly. It comprises hundreds of startups, academic groups, investors, government players and emerging end users. Yet, the quantum technology industry is yet to fully realize its potential solutions, value areas, and overall potential.
This is significant because research indicates that companies operating in complex industries must be highly adaptable to changes by frequent shifts in strategy 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 data-mine press releases, research papers, blog posts, patent filings, LinkedIn posts, and so on for valuable insights.
“The lack of coherent data causes decoherence in the industry of quantum technology, messing with its impact and possibilities.” – The Importance of Data and Intelligence in the Quantum Technology Industry whitepaper
However, merely possessing data does not equate to actionable business intelligence.
Merely Having Quantum Data Is Insufficient
Data without context is merely a string of symbols. For instance, 05072023 is meaningless until it is clarified as a date. Therefore, data must be refined, synthesized, and disseminated into business intelligence, which then must be translated into actionable insights to form the basis for effective decision-making.
In the world of freely accessible Large Language Models such as Chat-GPT, it’s now relatively easy to “get the AI” to retrieve lists of data on complex ecosystems, including quantum. However, this data is unreliable, poorly structured, and requires constant back and forth to elicit and fact-check what one needs.
To exemplify the necessity of sound interpretation, a simple sentence like “John read the letter to Mary” has over 13 different ways to be understood: data is the same.
Getting context is a complex process. It requires collecting, structuring and verifying data on a complex market. But the fruits of its labor are clear when raw data is turned into effective decisions.
What Data Turned into Actionable Insights Leads To
Actionable insights, verified and backed by data, lead to numerous benefits when making decisions, shaping activities, and crafting effective strategies. The entire list is found in The Quantum Insider’s whitepaper that this article echoes, but here are five of them:
Access the free whitepaper here.
Identify, Chart, and Prioritize the Quantum Supply Chain
Reliable quantum supply chain data can accurately synthesize businesses and suppliers across the global quantum supply chain. By doing so, you can identify which suppliers to partner and collaborate with while tracking competitors. Effectively expanding your quantum network while optimizing your supply chain performance.
Assessing and Predicting Market Demands in Quantum Technology
Detailed market data will set the stage for trend predictions through the assessment of the current and future market potential for quantum technology segments. [3] Ergo, you can locate if you are missing out on crucial market opportunities due to a lack of insights, whilst planning for future market potential.
Safeguarding National Economies Future with Quantum Intelligence
Quantum technology has emerged as a critical component for national security and economic advancement. Some experts even herald it as the next industrial revolution, poised to have a more profound impact than the steam-powered revolution of the 18th century. Thus, preparing a national economy for this seismic shift necessitates the establishment of national research centers, the formulation of public policies, and the initiation of funding programs. These initiatives, when grounded in robust quantum data, tailor and promote the intended entities and specific areas of a nation’s economy.
Discover High-Performing Quantum Businesses and Their Hidden Connections
Identifying current and potential valuable opportunities for investors in quantum technology is a diffuse and complex task. And one that only can be accomplished from actionable insights, elucidating the hidden ecosystems within quantum and revealing investment opportunities that otherwise would go unnoticed.
Anchoring Decisions in Verifiable Data and Insights
Reliable data and business intelligence not only provide a foundation for decision-making that reflects the current landscape of quantum technology. But they also the enhance effectiveness of daily operations based on factual market insights. This approach fosters improved business decisions, leading to strategic advantages and operational efficiency across your entire organization.
The transformation of quantum data into actionable insights offers numerous benefits, extending across departments, sectors, and entities. Naturally, what then is needed is the missing data miner that aggregates, distills, synthesizes, and visualizes quantum data and business intelligence effectively.
The Quantum Insider Intelligence Platform
While quantum technology data has increased in volume and availability, it is unstructured and stratified. The data necessitates classification, structure, and sense-making. The Quantum Intelligence platform empowers investors, startups, corporations, accelerators, policymakers, and governments to base their actions and decisions on solid, reliable data from the quantum technology landscape. Our platform has been instrumental for previous clients in areas such as competitive intelligence, comparative analysis, general due diligence, mapping intricate and interconnected ecosystems, and scouting opportunities, including identifying new partners, suppliers, or investment prospects.
Our TQI Intelligence Platform accomplishes this through six core features:
Custom Taxonomy
To structure the quantum technology industry, the TQI Intelligence Platform classifies and segments each stakeholder and subcategory relevant to understanding and gaining an overview of the quantum technology industry.
Detailed Entity Profiles
All quantum entities, from investors to companies to universities, feature a dedicated profile. This includes a brief explainer, headquarters location, and total disclosed funding, along with corresponding primary and secondary classifications and tags.
Trusted Market Intelligence
Data alone is insufficient. The Quantum Insider shows how quantum data can be turned into business intelligence through the consistent publication of free and premium reports, whitepapers, and analyses.
Ecosystem Graph Explorer
The TQI Intelligence Platform has further implemented a powerful visualization tool, enabling you to graph a dynamic and adaptive connections map displaying 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 gain a comprehensive picture of the rapidly evolving quantum industry. In response, the TQI Intelligence Platform simplifies this process with an efficient news and media search functionality, which allows filtering based on 15+ languages, date range, reach and sources, and country of origin.
Ask Us Anything
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You can try our intelligence platform for free here, or contact Luke Preskey, our Commercial Director if you have any questions.
This article is based on our free whitepaper, which delves into the same areas in greater detail. If you’re interested in further insights 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] Backer R De, Rinaudo EK. Improving the management of complex business partnerships. 2019.
[3] Chugh R, Grandhi S. Why Business Intelligence? 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.
For more market insights, check out our latest quantum computing news here.
