What is Competitive Intelligence?

Competitive intelligence is an ongoing activity that continually updates market activity. An effective competitive information process can provide a signal or early warning to enable companies to take action when predicting competitors' behavior or to adopt or offset new technologies that affect the industry Offers

The purpose of competitive information is to help enterprises better understand the competitive environment to make informed business decisions and to identify opportunities and threats. Competitor information includes all elements that affect the company's competitiveness. Suppliers, customers, distributors, competitors, and potential competitors

Macroeconomic factors affecting the competitive environment include economic, ecological, socio-cultural, political, legal and technical issues facing the company. The focus of competitor information is to convert this extrinsic information into the insights needed for strategic and tactical decisions.

Within the organization competitor information is unique in that it collects and shares information from competitors and shares competition and market development. In fact, information on competitors is an activity focusing on those who collect information from departments that do not communicate with each other or do not communicate at all. An effective competitive intellectual process can usually destroy silos caused by competition among departments

Remember that based on an understanding of the function of the work competitive intelligence may mean different to different people.

Salespeople have competitive information as they can be used against specific competitors

One researcher regards competitive intelligence as destructive technology intelligence and competitor research and development program.

Executives respect long-term strategic competitive information to understand the market, competitors, and exciting opportunities.

What is "competitive information"? One definition is information useful for insurance companies (or insurers) to compete in the market. This information includes price, sales practices, delivery methods, manufacturing costs, product development methods, compensation methods, information technology and other research functions, strategic planning, marketing planning and methods, and other information. Legal and ethical issues arising from the acquisition of competitive information can be roughly divided into two areas. First of all, competitors cooperating to obtain competitive information may cause problems. These can be characterized as antitrust or unfair competition issues. Secondly, problems arise when insurance companies or their agents obtain information from public routes or third parties.

Competitive information is influenced by national strategy information. National information was researched 50 years ago, but competition information was introduced in the 1990s. Companies that learn competitive information experts can learn from state information experts, especially when analyzing complex situations. Competitor information may be confused (or thought to be duplicated) with environmental scanning, business information and market research. Craig Fleisher asked about the validity of this term and compared it with business intelligence, competitor intelligence, knowledge management, market intelligence, marketing research, strategic intelligence.