Information support for analysis of the market environment of an economic entity

Abstract

Importance: to ensure effective management of the market potential of an economic entity, the analytical process of forming the information bases for making informed management decisions aimed at strengthening the market position of the entity in the functioning market and implementing control functions for their execution is of great importance. Economic analysis helps to identify the strengths and weaknesses of doing business, group external factors that affect the organization’s activities and its competitiveness. A systems approach to forming an information base for market environment analysis involves studying information flows in all areas of an economic entity’s environment, including components of the macroeconomic, microeconomic and competitive levels of the environment. Purpose: to develop a classification of sources of information support for analyzing an economic entity’s market environment based on a systems approach, to formulate uniform requirements for the qualitative characteristics of information used in analyzing an economic entity’s market environment, which will improve the technical and organizational level of production and external conditions of the economic entity’s functioning. Research design: the classification features of information support for economic analysis traditionally identified in the economic literature require supplementing with features that take into account the level of information generation for making management decisions, the duration of the analyzed period, areas of information use and areas of analytical work. Proposals for improving existing classifications are of great importance at the stage of forming information support for market environment analysis. Results: before using information, it is necessary to check its qualitative characteristics: accuracy, relevance, completeness, objectivity, accessibility, relevance, comparability. The article considers possible ways of checking the qualitative parameters of information (justification of the period of formation, the possibility of comparing and contrasting data from several information sources), which will improve the accuracy and reliability of conclusions and recommendations based on the results of analytical work.