Competitive intelligence (CI) involves grasping and discovering what’s going on in environments other than your organization’s so you can be as competitive as possible. It entails uncovering as much as you can, as soon as you can about the industry you are in and your competition. Essentially, it enables you to foresee and deal with challenges.
- Integrates outside competitive and market drivers into strategic planning
- Creates strategically pertinent information from investigation and structured analysis
- Facilitates better marketing, strategic planning, finance and operations
- Decreases decision risk and diminishes unknown elements about external developments
Competitive intelligence (CI) entails assembling accessible information about an organization’s competition and then applying the knowledge to gain an advantage. The objective of competitive intelligence involves examining potential business threats and opportunities and facilitating a quicker response to the organization’s competition.