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.The system should be easy to access and manage by all parties involved with data and information gathering.
- Where will the information go? First, you need to establish where the information will go. Databases work well and so do file cabinets and special boxes or safes. Do you want your approach to be technical, non-technical, or a combination?
Designating a location for all important competitive intelligence information has a lot of benefits. Information can be gathered for presentations, market analysis, etc. If everyone has a clear idea of why a particular product or service in your company is better that will make your company stronger. Making the information accessible to everyone will help.
There are three basic ways that you can organize the information in this manner. You can put it all in a filing cabinet, but this method tends to be cumbersome and wastes time. You can also use a database. This method is better than a filing system because it allows you to store and retrieve data quickly. Another way is to outsource or hire a consultant. They can help you understand which method is best.
- Who is gathering the information? If there are multiple people involved with collecting the information, choose one person to be in charge of organizing it. This will make things easier and more consistent.
- How will it be analyzed? This is also another key aspect of staying organized. If you know exactly how the information will be analyzed, it will be easier to store it. You will also understand which information you will actually need to keep and which is extra.
Competitive Intelligence