What are we talking about? Competitive intelligence is a search for data on competitor companies that does not go beyond the legal framework. Data from open sources is analyzed, allowing one to obtain information on the financial, technical, and strategic spheres of business.
What to pay attention to? Not all information is of interest, so the information must be reliable, relevant, complete. It is important to use only legal methods of data collection.
The article explains:
The essence and rich people data package objectives of competitive intelligence
Principles of Competitive Intelligence
Directions of Competitive Intelligence
Information requirements in competitive intelligence
Competitive Intelligence Methods
Stages of competitive intelligence
Regulatory aspects of competitive intelligence
Competitive Intelligence Service Specialist
Unacceptable methods of competitive intelligence
Frequently Asked Questions About Competitive Intelligence
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The essence and objectives of competitive intelligence
Competitive intelligence is a method of studying the competitive environment, which consists of collecting and analyzing information about competitors for the purpose of making management decisions in business strategy and tactics. It is carried out in accordance with the law and ethical standards and differs from industrial espionage.
The essence and objectives of competitive intelligence
Competitive intelligence may include the following aspects:
Collection and processing of data from various sources to develop a growth strategy and improve the competitiveness of a commercial organization.
The presence of a structural division within the company that specializes in collecting and analyzing information about competitors.
A set of measures aimed at providing managers with information and analytical support so that they can better understand the current state and changes in the development of competitors' activities. Specific data collection methods are used for this purpose.
Competitive intelligence involves analyzing both static and dynamic aspects of competitors' businesses based on available and limited information, and providing the results of this analysis in a timely manner. It focuses on collecting information rather than directly analyzing it.
The term "analysis" is used here to refer to the process of extracting the necessary information from various sources.
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Competitive Intelligence Tasks
Information support for the process of developing management decisions, which will provide the company's management with up-to-date data on competitors and the market environment.
Creating an "early warning system," which means identifying potential threats early so that management can respond to them before they become critical to the business.
Finding favorable business opportunities in the market, such as new segments or strategies that can increase competitiveness.
Identifying attempts by competitors to gain access to a company's sensitive information (often in conjunction with the security service) to prevent leaks of confidential information.
Risk management, including analysis and assessment, associated with changes in the external environment, in order to ensure the company's effective response to them.
The above mentioned competitive intelligence tasks play a key role in ensuring the main purpose of the existence of this unit.
The main task is to create a sense of security and confidence among the staff that the success of the company depends only on their own actions and cannot be disrupted by sudden circumstances or hostile manipulations of competitors.
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