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Competitive Intelligence | ||
"Competitive Intelligence is defined as business intelligence focusing on the external competitive environment."¹ There are several other definitions - all focusing on the same principle. For example "CI is a necessary, ethical business discipline for decision making based on understanding the competitive environment"². Another common definition (from the Society of Competitive Intelligence Professionals³) is "Competitive intelligence is a systematic and ethical program for gathering, analyzing, and managing Information about the external Business environment that can affect a company’s plans, decisions, and operations. Although narrower in scope, it is commonly employed as a synonym for Business intelligence." The key points in these definitions is that1) Competitive Intelligence is an ethical and legal business practice. (This is important as CI professionals emphasize that the discipline is not the same as industrial espionage which is both unethical and usually illegal). 2) The focus is on the external business environment. 3) It is linked to the concept of business intelligence. It is important to note that this link does not refer to the software data-mining type definition for business intelligence, but rather, the wider concept of the intelligence required for business decision making. 4) There is a process involved in gathering information, converting it into intelligence and then utilizing this in business decision making. CI professionals emphasize that if the intelligence gathered is not usable (or actionable) then it is not intelligence. TermsThe term is often viewed as synonymous with Competitor analysis but Competitive Intelligence is more than analyzing competitors - it is about making the organization more competitive relative to its existing set of competitors and potential competitors. Customers and key external stakeholders define the set of competitors for the organization and, in so doing, describe what could be a substitute for the business, votes, donations or other activities of the organization. The term is often abbreviated as CI, and most large businesses now have some Competitive Intelligence functions with staff involved often being members of professional associations such as the Society of Competitive Intelligence Professionals. The Society of Competitive Intelligence Professionals is an organization for those who are interested in learning more about Competitive Intelligence. Established in 1986, they provide education and networking opportunities for business professionals, and provide up to date market research and analysis. “Members of the SCIP have backgrounds in market research, strategic analysis, science and technology.â€Â³ Copyright 2008 - France BtoB from Wikipédia
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