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Why is Competitive Intelligence the killer secret to your success?
by Octopus Intelligence Octopus Competitive IntelligenceWhy is Competitive Intelligence the killer secret to your success?
This article asks why is Competitive Intelligence the killer secret to your success? Strategy without Intelligence isn’t a strategy; it’s guessing. Competitive Intelligence assists you in understanding your competitor’s business models. And assess their relative strengths and weaknesses versus your own.
What is Competitive Intelligence?
Defining what Competitive Intelligence (AKA Market Intelligence) is has been contentious for years. Well, since data analysts nicked the term Business Intelligence off us.
SCIP definition
Strategic & Competitive Intelligence Professionals define the subject as:
Competitive Intelligence is a discipline that enables organisations to reduce strategic risk and increase revenue opportunities by having a deep understanding of what has happened, what is happening, and what may happen in their operating environment.
Finding, sorting and critical analysis of information
We describe Competitive Intelligence as the finding, sorting and critical analysis of information. To make sense of what’s happening and why. Predict what’s going to happen and give the options to help you control the outcome. Aslo it offers more certainty, competitive advantage, insight and growth.
Drilled down further.
Competitive Intelligence creates insight, options, and competitive advantage by knowing the what, how, how, why, and critically the next. Not to be confused with Competitor Intelligence, which only looks at Competitors. A common requirement within our project requirements. But only a fraction of Market Intelligence’s,… Sorry, Competitive Intelligence insight capabilities
So why?
So back to the reasons for CI. We have produced a list of why is Competitive Intelligence the killer secret to your success?
Few reasons why
- It reduces uncertainty when making decisions.
- Reduces uncertainty when making decisions.
- It reduces uncertainty when making decisions. Point made
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About Octopus Intelligence
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Octopus Competitive Intelligence
Joined APSense since, May 3rd, 2021, From Nottingham, United Kingdom.
Created on Jun 3rd 2022 11:05. Viewed 110 times.
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