I’m hearing a lot about the Gartner Magic Quadrant, so thought i would check it out. In this post, i share the absolute minimum that you need to know about the Gartner Magic Quadrant.
What is the Gartner Magic Quadrant?
In short, the Gartner Magic Quadrant is a graphical way to analyse and represent a particular product/market/industry in terms of their ability to deliver based on their vision.
The Quadrant consists of 4 segments which are measured along and x and y axis, to represent the completeness of vision and ability to execute respectively:
- Leaders
- Effectively deliver on their stated vision, and are in good shape for the future
- Visionaries
- Recognise the future direction of their product/market/industry and potentially have a good vision for changing the existing industry status quo – but are unable to make things happen
- Niche Players
- Successfully focus on a specific product/sector, or lack focus and are unable to outperform and out-innovate other competitors
- Challengers
- Are performing well today or may command great influence in a particular sector, but are unaware or unable to see the future direction of their product/market/industry
So What…?
The Gartner Magic Quadrant is a simple but brilliant way for you to:
- Analyse your product/company/other companies, industries and even yourself!
- Understand your own vision and ability to execute
- Recognise areas for improvement and devise a strategy to help you meet your specific goals
- Make effective strategic decisions using analysis of your company versus your competitors
- Take advantage of Gartner’s analysis to help you make your own assessment
Hope this helps!