Information that is collected needs to be fact checked and verified as much as possible. If you gather inaccurate data, this can skew your observations which will eventually affect your company in a potentially negative way.
Also beware of the “more is better” mentality. This is a trap because it isn’t necessarily true. If you collected a lot of information, but only 90% of it is actually useful, then you would have wasted your time. Before you begin collecting data, make sure you know exactly what you need to find.
Competitive Intelligence