Competitive intelligence (CI) is the gathering and analysis of information about a company’s competitors. It can be used to identify and track a competitor’s strengths and weaknesses, strategies, and tactics. The goal of CI is to give organizations the insights they need to make informed decisions, gain a competitive edge, and avoid potential pitfalls. CI involves monitoring the competition, conducting primary and secondary research, and analyzing data to uncover insights about the competition.
CI involves four main activities: monitoring, analysis, assessment, and execution. Organizations use CI to stay ahead of the competition and make better decisions. The most important part is to make sure that you are constantly monitoring your competition so that you can be one step ahead.
Example
Some common examples of competitive intelligence include SWOT analysis, market analysis, and competitive analysis.
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