Competitive intelligence: what is it, benefits and how to apply it in your company?
Posted: Mon Dec 23, 2024 9:42 am
Having competitive intelligence in the company is essential to take advantage of business opportunities and avoid losses — after all, knowing the market and everything that involves the sector is essential to making more assertive decisions.
What you will see in this article:
What is competitive intelligence?
What are the advantages?
What are competitive intelligence practices?
How to apply intelligence
Discover what it is, the advantages and how to adopt competitive intelligence in your organization and stand out in the market!
What is competitive intelligence?
Competitive intelligence is an approach in which the company monitors ca email database evaluates the external and internal aspects related to the business. By monitoring this, it is possible to obtain data that will help to take advantage of market opportunities, identifying trends and threats, in addition to contributing to optimizing processes and strengthening the organization.
Using information about the market, competitors, customer profiles, suppliers, industry and even the company itself in a strategic way is a differentiator that can help the company stand out from the rest. Therefore, more than just a help, investing in this concept is essential for any company.
What is the basis of competitive intelligence?
The main focus of the study carried out in competitive intelligence is the company's competitors and the market itself — by investigating them, it is possible to assess whether there are spaces in the segment that are being unexplored, what are the strengths and weaknesses of other organizations and what trends are emerging in the sector.
Therefore, in this research, one must seek to understand the competition and the market from different perspectives: what are their strategies? What is their work like? What are their differentiators? Are they prepared for any changes in the market? What is their customers' opinion of them? Are there new technologies or changes that could impact the segment and the business's performance?
These and other questions — in addition to information about other players in this dynamic — form competitive intelligence. Despite being a detailed study and, therefore, having a certain level of demand to be carried out, it is no wonder that many companies invest in this approach.
What you will see in this article:
What is competitive intelligence?
What are the advantages?
What are competitive intelligence practices?
How to apply intelligence
Discover what it is, the advantages and how to adopt competitive intelligence in your organization and stand out in the market!
What is competitive intelligence?
Competitive intelligence is an approach in which the company monitors ca email database evaluates the external and internal aspects related to the business. By monitoring this, it is possible to obtain data that will help to take advantage of market opportunities, identifying trends and threats, in addition to contributing to optimizing processes and strengthening the organization.
Using information about the market, competitors, customer profiles, suppliers, industry and even the company itself in a strategic way is a differentiator that can help the company stand out from the rest. Therefore, more than just a help, investing in this concept is essential for any company.
What is the basis of competitive intelligence?
The main focus of the study carried out in competitive intelligence is the company's competitors and the market itself — by investigating them, it is possible to assess whether there are spaces in the segment that are being unexplored, what are the strengths and weaknesses of other organizations and what trends are emerging in the sector.
Therefore, in this research, one must seek to understand the competition and the market from different perspectives: what are their strategies? What is their work like? What are their differentiators? Are they prepared for any changes in the market? What is their customers' opinion of them? Are there new technologies or changes that could impact the segment and the business's performance?
These and other questions — in addition to information about other players in this dynamic — form competitive intelligence. Despite being a detailed study and, therefore, having a certain level of demand to be carried out, it is no wonder that many companies invest in this approach.