While competitive intelligence is a valuable strategy for any industry, we recognize that certain competitive intelligence programs are more relevant than others, depending on what kind of business you operate. The State of Competitive Intelligence report found that 79% of companies share their competitive intel via email, 62% use meetings, and 26% of companies use an internal chat.
Competitive intelligence (CI) is the systematic collection and analysis of information from multiple sources, and a coordinated CI program. What is a Competitive Intelligence Program? What are Competitive Intelligence Programs? Competitive Intelligence software automates all repetitive intelligence activities from data collection to information management, analysis and sharing. With Manzama, you can easily see whos winning and whos in crisis mode, and in what specific areas. People often ask us what a successful Competitive Intelligence (CI) program is and for me it doesn’t really have anything to do with having the right process or the right tools, and newsletters doesn’t have anything to do with having the right training, analysis methods, or anything like that. Our competitive intelligence software reduces the normal amount of time it'll take you to search, sift and sort articles and allowing you to spend more time on competitive analysis. You could be a successful startup looking to go public.
"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 1993).
Maybe you are a regional business who is wondering if it is right to expand. It is the action of defining, gathering, analyzing, and distributing intelligence about products, customers, competitors, and any aspect of the environment needed to support executives and managers in strategic decision making for an organization. A useful tool that many people take advantage of for intel communication is Slack (or other internal chat), where they can easily communicate competitive intel to their whole company via instant message. The Academy of Competitive Intelligence provides world-class training that enables businesses to develop agile and resilient strategies in highly competitive markets. It helps companies better understand and respond more quickly to competitive actions, competitors, technological advancements, changes to their image, business opportunities, and mergers and acquisitions.