Consider the size of your business. If your business is small with few employees, you can either do this yourself or outsource. Chances are you don’t have enough resources to spare one of your employees.
If your company is larger or is growing, you can train at least one employee on the art of competitive intelligence. Select them to make sure they are efficient researchers and have the ability to perform detailed analysis on any data they find.
You can also form a committee or group where each member performs a specific task related to competitive intelligence. This method works bests for larger companies. You can meet with the group on a regular basis so they can update you on their findings.