Competitive Intelligence Portal

Which data do you need to include in your profile? Well this will depend on a variety of factors. Examine your needs and observe the market. What information would be helpful? This is also a good time to decide how you will be organizing the data.

When it comes time to gathering information about your competition, it is a good idea to find out as much as you can. Try to compile as complete a profile as possible on each of your competitors. Doing so will not only help you understand them but it will also help you learn how to exceed them. You can also gain insight into industry trends.

A great way to keep information about your competition organized is to create a profile on each of them. This is called competitor profiling. The profile not only lists the basics such as name and location, but also your observations such as perceived weaknesses and strengths.

There are different ways to analyze data. You can choose the processes that make the most sense to your company and objectives, or simply use a combination of methods.

Analyzing the date you gather is a crucial step. However, without the proper organization and a clear objective, you won’t gain much from the process. If you started collecting information without a clear objective, you may have a difficult time making sense of it. That is why with competitive intelligence, you need to master all the steps in order to be able to use the information to your advantage.

In order to help gather and organize information, some people prefer to purchase software programs that specialize in competitive intelligence. Their main function is to perform automatic online sources of any relevant companies and sources in your industry.

When you organize information electronically, this offers a greater potential that your employees will benefit. Here are some ways that you can use technology to organize the Competitive Intelligence information.

Your company needs to use the gathered information to help make important decisions. Therefore, the date needs to be organized so that all relevant decision makers can access the findings.

There are several different ways to organize all the information you compiled for competitive intelligence. The best system is one that is compatible with your business and your personality.

Publications are even better than consumer magazines for finding in depth information about the competition and your industry. You can look in special newspapers, reports, trade journals, and special industry magazines.