Competitive Intelligence

Competitive Intelligence is “a perspective on changing marketing conditions”. Two important words to focus on in this definition:-

“Perspective” – This delineates it from all other information collection or data services like research etc. Information alone cannot be perspective – information has to be translated to business intuitive insight to make it competitive intelligence

“Marketing Conditions” – In most of the situations today, Competitive Intelligence is focused on “competitors” instead of “the whole market – competitive arena”.

Many companies either waste millions on massive databases or research projects that don’t yield useful insights because of not strategizing their Competitive Intelligence initiatives properly. Usually companies throw the first available junior marketing and information specialist at the job and push it down to the tactical product level, missing out on the true value of competitive intelligence.

Competitive Intelligence leads to a greater strategic agility – if it is defined and scoped properly in alignment with business priorities. Along with scoping, Competitive Intelligence should get seat in decision makers’ table by getting integrated in the decision life cycle.

If you want your company to become more agile, start by rethinking the design of your intelligence process. Focus on building a strategic early warning capability so you don’t miss the big picture.

Knowledge Excel Services has helped a big Telecom company set up a competitive intelligence hub – guiding decisions makers across the board to align their decisions with changing marketing conditions

Learn More about Knowledge Excel Competitive Intelligence Solution

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