Yet even soloists can get a leg up on the competition through online research and the cooperation of key. Dec 12, 2017 competitive intelligence summary dumpster diving, going to meetings while distorting ones identity, planting disguised microphones and other practices are not professional competitive intelligence methods. The competitive intelligence software here is offered under the saas software as a service model, meaning that the software is web based, hosted on the cloud and can be. A synergy for organizational competitiveness in the keconomy. Effective competitive intelligence analysis isnt cheap but if done well it is well worth the cost. Competitive intelligence analysisbest tools, reports, metrics.
Office of intelligence and analysis strategic plan for. To beat your competitors you must know exactly what they are doing. Competitive intelligence on a shoestring, competitive. Competitive intelligence can help you to organize your external perspectives and align your team to compete better. Competitive intelligence strategies for sustained advantage ix an organisation should look for in its ci professional or team. Competitive intelligence delivers recognized value to decision makers. Competitive intelligence with specific reference to the. All of our consulting programs are supported by current indepth and validated data and information from both published and nonpublic domain sources. Technologies for competitive intelligence building. An alternative name for competitive intelligence practitioners in commercial enterprises is industry risk analysts. May 18, 2015 the essence of the competitive intelligence perspective is the view of the competitive set as a whole. Take some of these tips into account when planning your data collection strategy. The 12 best competitive intelligence and benchmarking tools. Many of the strategies and techniques used are closely linked to intelligence as practised by statutory intelligence services.
Only half of companies actually use the competitive. This post takes a few steps deeper into the world of competitive intelligence with best practice recommendations for analysis, metrics that you should report on and traps you can avoid. We can either provide a general overview of your competitive landscape, or we can focus on key business areas, such as product roadmaps, sales figures or customer information. Competitive intelligence software enables quick and easy identification and implementation of new sales opportunities and in tracking competitors online strategies.
Search a portfolio of competitive intelligence software, saas and cloud applications for freelancers. Competitive intelligencedefinition wikibooks, open books. Developing strategy from competitive intelligence results. Competitive intelligence notes for high technology leaders tom hawes, jthawes consulting in every organization, there are many roles and responsibilities. All of our consulting programs are supported by current in depth and validated data and information from both published and nonpublic domain sources. Using it for analysis requires information about your suppliers and customers, your competitors, and possible changes in the future, including new substitutes for your product or service, and new entrants to the market.
Competitive intelligence ci is the process of gathering and analyzing information on your competitive environment to help you make business decisions. Olszak university of economics, katowice, poland celina. The term that is used to describe this harvesting and use of intelligence for competitive economic activity is called competitive intelligence. Competitive intelligence leads to concrete actions. Getapp is your free directory to compare, shortlist and evaluate business solutions. In 1972, the society of competitive intelligence professionals scip was formed and grew to 6,000 members worldwide. Being able to perform on this information effectively is as important. Competitive intelligencedefinition wikibooks, open. Competitive intelligence formulation of marketing strategy. Competitive intelligence case studies august 2012 competitive intelligence case studies case study 1 the brief market intelligence report wilbury stratton was invited to work with a global technology vendor that wanted to establish and understand the landscape and maturity of the sustainability technology market in the uk.
Understanding how competitors will act in the marketplace can build profits and new competitive advantages for your company. Rather, it is a deep dive exercise, where businesses unearth the finer points of competitors business plans, including. In this post well go back to the wondrous world of competitive intelligence analysis. Sep 24, 2001 some big companies have entire departments devoted to gathering competitive intelligence.
It is my pleasure to share 3 great competitive intelligence books that came to my attention this week. Such a plan must set objectives and anticipate how results will be used. Competitive intelligence is defined as the art of collecting, analyzing and presenting information about the external environment to help management makes decisions in a timely manner. Generating competitive intelligence in organizations. Case studies cis competitive intelligence services. A framework of competitive intelligence linkedin slideshare. For example, in the pharmaceutical industry, respondents said that use of competitive intelligence had either saved or generated millions through. Albeit several years old, i think a good starting point would also be competitive strategy. Understanding how the process works is only half the battle. Moreover, once you have committed to putting in place a ci function, a. Take a look through this list to see if you have all the foundational pieces in place.
This book is more of an introduction to the philosophy of competitive intelligence than anything else. First well focus on the initial steps in establishing a competitive intelligence practice. Business intelligence bi and competitive intelligence ci, the significant research areas in the domain of management information systems, are well grounded in resourcebased view theory. Acta universitatis agriculturae et silviculturae mendelianae brunensis, 20, lxi, no. I think one good way to get started is by joining competitive intelligence groups and communities on linkedin, facebook, and twitter. The world economic forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas. Use features like bookmarks, note taking and highlighting while reading competitive intelligence, analysis and strategy. The formal practice of gaining competitive intelligence really took off in the 1970s here in the u. Jan 02, 2010 competitive intelligence solution an apposite competitive intelligence solution provides a tested platform for conducting databanking, synthesis, analysis, structured evaluation and sophisticated report generation.
Effective applications of new and classic methods, 2nd edition by craig fleisher and babette bensoussan, pearson, 2015. Our analysts use a blend of online research and telephone interviews to gather the intelligence you need. Office of intelligence and analysis strategic plan for fiscal. It is a systematic, ongoing process to ethically and legally gather intelligence.
Seven steps for a competitive intelligence best practice. Effective applications of new and classic methods, 2nd edition by craig fleisher and babette bensoussan, pearson, 2015 so whats changed in this version. Creating organisational agility kindle edition by wright, sheila. Each position faces specific kinds of challenges and needs specific information to make good choices.
Abstract the paper refers to the competitive intelligence ci that is an important area of study for both practitioners and researches. Competitive intelligence ci is a method used to gather and analyze information about competitors which may not always be easily obtained or publicly available. The field of competitive intelligence ci as a distinct business discipline emerged in the 1980s. The role of technology in ci is in a constant state of flux, making it difficult to choose the right technology for your needs. Competitive intelligence pdf summary conor vibert 12min blog. Sep 19, 2001 as markets evolve even more rapidly and companies adapt their plans much faster, the demand for competitive intelligence has spiralled. The chief failing of the book is that the world has changed since it was written five years ago.
Check out these 9 competitive intelligence tools that this data geek loves. Hopefully this will be helpful in focusing our valuable energies. It is impossible to put together a successful competitive strategy if you are unsure what your competitors are doing, what they plan to do or even who your competitors really are. Competitive intelligence best practices for global companies insource 2008, february 56th, 2008 prague rainer michaeli director institute for competitive. Aug 30, 2019 i think one good way to get started is by joining competitive intelligence groups and communities on linkedin, facebook, and twitter.
This is the first of a multipart post on competitive intelligence. Some of the work, however, draws heavily on the fields of business strategy and. Jul 19, 2010 this paper briefly describes what competitive intelligence is, then proposes a competitive intelligence initiative along with suggestions for a structural framework, scope, and individual skills and tools necessary to be successful. Christopher west, an expert in the field, shows you how to collect, analyse and use competitive intelligence from a variety of sources, including the internet, and change your competitive strategy accordingly. Competitive intelligence solution an apposite competitive intelligence solution provides a tested platform for conducting databanking, synthesis, analysis, structured evaluation and sophisticated report generation. The general opinion of all these business information professionals is that competitive intelligence deals with the collection, selection and. Cia also formed one of five foundational elements in my bestselling book web analytics 2. Start gathering data that will instantly assist you in beating your competitors online and off. Whilst there are a number of lowcost free tools available, the market leaders such as hitwise and comscore provide excellent data and insight that no free lowcost alternative can rival. Once a list of target companies has been identified via a variety of other intelligence, research and discussions, a plan needs to be developed and appropriate personnel need to be recruited to implement it. Taking competitive intelligence analysis to the next level. The first organizational model for competitive intelligence was published by ben gilad and. Competitive intelligence summary dumpster diving, going to meetings while distorting ones identity, planting disguised microphones and other practices are not professional competitive intelligence methods. Without good information, outcomes are less predictable and results are poorer than.
Competitive intelligence ci is the process of defining, gathering, analyzing, and distributing information regarding competitors, customers, products, and changes in the industry or environment. Competitive intelligence best practices for global companies. Competitive intelligence training and strategy sis. We use several so we can fill in all the gaps and get all the pieces to a companys online marketing strategy. Competitive intelligence serves senior management and strategy leaders. With a wealth of case studies, kahaner shows how to profile your competitors executives to unmask their decisionmaking processes the line between legal and illegal or unethical activities how to protect your own company against your competitors intelligence operations competitive intelligence is a practical guide to turning raw information. This paper briefly describes what competitive intelligence is, then proposes a competitive intelligence initiative along with suggestions for a structural framework, scope, and individual skills and tools necessary to be successful. Communications of the ibima volume 6, 2008 27 is sustained when it provides aboveaverage returns in the long run porter 149. Competitive intelligence shouldnt just be about your. An overview of information tools and technologies for. Incorporated as a notforprofit foundation in 1971, and headquartered in geneva, switzerland, the forum is tied to no political, partisan or national interests. Bi and ci are focused on the collecting, integrating, analyzing and sharing data that come from.
Gathering information for competitive intelligence. Most likely your company is practicing competitive intelligence in some shape or form. Consider the example of pratt and whitney, a united technology company. For example, research in the marketing literature addresses competitive intelligence as an integral part of building marketoriented organizations e. Such instruments are both illicit and deceptive, as well as risky and frequently unnecessary. The resourcebased approach to organizations one approach to the management of information. Fivephase model of the intelligence cycle of competitive intelligence. Some big companies have entire departments devoted to gathering competitive intelligence. Look at third paragraph on page 11 if that isnt ci. Not all competitive intelligence tools and techniques are suitable for all ci. Competitive intelligence makes an important difference in quality of strategies. Since then, as luck would have it, we have more tools, they are smarter, and have richer datasets.