Competitive intelligence is the process of gathering, analyzing, and interpreting information about a business’s industry, competitors, and market environment to make informed business decisions.
The process of CI involves collecting and analyzing a wide range of data sources, including public records, news articles, financial statements, industry reports, social media, and customer feedback. The information is then analyzed and interpreted to identify patterns, trends, and potential risks or opportunities for the business.
Why Competitive intelligence is effective for businesses:
What is Competitive intelligence for?
Competitive intelligence can be used to inform strategic planning, product development, marketing strategies, and overall business decision-making. By staying informed about the competitive landscape and market trends, businesses can make informed decisions about how to position themselves in the market and stay ahead of their competitors.
Overall, competitive intelligence is an essential tool for businesses looking to gain a competitive edge in their industry and make informed decisions that will drive growth and success.