3 reasons why competitive intelligence will be essential in the future
- Competitive Intelligence
More and more organizations are realizing that competitive intelligence is highly beneficial for their business activity. Still, it is a discipline that has much room for growth, and we believe that in the future will become critical to any entity, due to three reasons:
1. Big Data is already a reality. In 2014 1.000 million websites were exceeded, of which more than 170 million are active (that is they publish content regularly). Of all these pages, 98% of the information is public, so it´s accessible to anyone who wants and knows where to look. In addition, only 4% of websites are indexed by search engines, forcing anyone who wants to monitor their content to use other professional tools.
This is where competitive intelligence becomes essential, as it is the discipline that focuses on obtaining and squeezing all that information. Information that, over the years, will do nothing but grow.
2. Organizations increasingly talk about their activity. Organizations, in their need to consolidate their market position and demonstrate their expertise in their field of activity, generate more and more content that describes their projects, orders, contacts with institutions and organizations, production aspects etc. , from which their strategy in the short, medium or long term can anticipated. Thus, the figures as the Community Manager enjoy great popularity thanks to the work they do in social networks and the digital world in general. These CM try to attract the attention of potential and current customers generating interesting content that can also be used by its competitors to define their strategies.
A good strategy for competitive intelligence enables organizations to capture key information about their competitors and use it the best way to improve their competitive position.
3. Markets are increasingly global. A few years ago, each company had clearly identified its competitors, which also came from geographically close areas. Today, globalization has led to no longer talk about specific markets, but that to be a great global market. Thus, new competitors may emerge at any time, from anywhere and with aggressive strategies that can shake any consolidated business. Therefore, it is necessary to stay alert about everything that happens in the sector and to this end competitive intelligence is indispensable.
As this phenomenon will do nothing but grow in the future any organization that wants to be competitive and survive in the market will have to devote resources to conduct competitive intelligence to optimize their strategies and value propositions.
If you have questions about how to start your competitive intelligence project and need professional support, please contact the INNGUMA team and we will gladly help you. Also, you can try for free INNGUMA if you request a demo on our website.