Trade information and trade intelligence is different, although part of the same endeavor. There is no intelligence without information. We use trade information to understand essential facts and operating conditions for trade in a given environment in which other, more detailed, qualitative, predictive and strategic aspects play a role as well.
Trade information reveals existing data which could be indispensable for making decisions and for conducting a business operation. Trade intelligence may help find related risks and opportunities that are neither visible nor obvious to everybody and that might lead an enterprise to success. As we have just seen, trade intelligence is a product composed of information that has been refined to meet particular needs.
The expressions “business information”, “market information” and “trade information", have a tendency to get mixed up so frequently that it helps to clarify what these terms refer to. The trade comes from the existence of markets, and markets exist because businesses exist. Information can be found and used at all three of those levels.
IMPORTANT: Since trade is the outcome of the behavior and trends of different markets and businesses, the expression “trade information” is sometimes used as a technical term to include both “market information” and “business information.” You may therefore assume, not only for the purpose of this lecture, but also in general, that the expression “trade information” is almost always referring to all of the above.
Trade Information reveals data that could be indispensable in making decisions and conducting business operations. Trade Intelligence may help you find risks and opportunities that are neither clearly visible, nor obvious to everybody, and that might lead the business to success. “Business information”, “market information", and “trade information” are distinct but complementary fields. Given that trade is the outcome of the behavior and trends of different markets and businesses, “trade information” is sometimes used to include both “market information” and “business information” as well.
A Trade Information Centre is a special unit within a TSI dealing with trade information management at the corporate level. This unit can have various types of clients such as exporters, potential exporters, manufacturers, producers, the government, researchers and academia.
These can be summarized in the three groups of activities that make up the information cycle: collection, processing and dissemination. Trade Information Centers are not only meant to provide facts about foreign markets to local people. They can also provide non-local people with information on local products, services, companies, and opportunities.
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