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What Is Competitive Intelligence? |
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If you search for the term "What Is Competitive Intelligence?" you will find a lot of variying definitions. Instead of building our own definition, we decided to present the different aspects of competitive intelligence.
- Competitive intelligence is a structured approach to gathering, analyzing and communicating data to make informed business decisions. The data that is obtained can be collected from publicly available published or human sources (so-called primary and secondary sources). Any attempts to gather information illegally and unethically may lead to utilizing inaccurate data. (Competia)
- A formalized, yet continuously evolving process by which the management team assesses the evolution of its industry and the capabilities and behavior of its current and potential competitors to assist in maintaining or developing a competitive advantage.(Prescott and Gibbons)
- Competitive intelligence: A systematic and ethical program for gathering, analyzing, and managing external information that can affect your company's plans, decisions, and operations. (Society of Competitive Intelligence Professionals)
- Competitive intelligence is the gathering and analysis of information from human and published sources about market trends and industry developments that allows for advanced identification of risks and opportunitiesin the competitive arena. (Ben Gilad, PhD )
All these aspects contribute to the understanding of competitive intelligence. It is your task to weighten the different appraisal factors and find your own approach of what competitive intelligence means to you. On our pages you will find tools, tips and tricks for the competitive world.
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