But… what is Competitive Intelligence?
- Competitive Intelligence
There are many occasions where CI professionals have to explain what Competitive Intelligence is.
In INNGUMA, we understand the CI as “an ethic, systematic and collaborative process, supported by specific tools, of collection, analysis, dissemination and interpretation of relevant information about the competitive environment, which is transmitted to the responsible bodies in the organization to generate an ideal context for decision-making.”
This definition is driven by the eight characteristics that we understand Competitive Intelligence must meet:
- Ethic: consistent not only with the law but also with morality. Anything based on trickery, deceit, etc. is excluded.
- Systematic: it is a defined process that must be carried out methodically and consistently. It is not performed only once.
- Collaborative: the CI activity, done in a personal way, is not representative. The process must be conducted collaboratively by engaging multiple people, departments, etc.
- Supported by specific tools: currently it is completely necessary to have specific tools to carry out the CI activities. Search, analysis, dissemination, etc. are tasks where tools greatly facilitate the process of CI.
- Collection, analysis, dissemination and interpretation of data: these are the 4 main phases included within the process.
- Information about competitive environment: information that may be relevant to the organization: technology, competitors, customers, sectors in which it is present...
- Transmitted to those responsible: as they are these that finally, after receiving the results of the CI, will make decisions.
- Decision-making: the ultimate goal of the CI is to support decision making so that they are more accurate.
And this is how we understand Competitive Intelligence in INNGUMA. If you have any questions, you can contact us for assistance.