Competitive Intelligence is a systematic and ethical process of gathering, analyzing, and managing external information that can affect an organization's plans, decisions, and operations. It involves the legal collection of data from various sources, such as public records, industry reports, and market research, to gain insights into the competitive landscape, market trends, and potential opportunities or threats. The primary goal of competitive intelligence is to enable businesses to make informed strategic decisions by providing a comprehensive understanding of their industry, competitors, customers, and the broader market environment. This process goes beyond simple data gathering and requires the application of analytical tools and techniques to transform raw information into actionable intelligence. Effective competitive intelligence helps organizations anticipate market shifts, identify emerging competitors, benchmark their performance against industry leaders, and develop strategies to maintain or gain a competitive edge. It is an ongoing process that requires continuous monitoring and adaptation to stay ahead in an ever-changing business landscape.
market analysis, industry trends, competitor research, strategic planning, decision-making, business intelligence, market positioning, benchmarking, SWOT analysis
CITATION : "Robert Anderson. 'Competitive Intelligence.' Design+Encyclopedia. https://design-encyclopedia.com/?E=431573 (Accessed on October 08, 2024)"
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