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Summary
Companies need information. To make the decisions that guide product development, the decisions that pinpoint the path to business success, company executives and other leaders are desperate for data. Only with a strong knowledge of the marketplace, of competitors and the past, can companies make optimal decisions.
However, the kind of information that is most useful and powerful for companies is not data that can be found easily. It is not the kind of information that comes after the fact, and that allows only reactionary movement. Instead, companies need competitive or strategic intelligence, exclusive information that allows analysis and prediction of the future.
In this article we examine the idea of competitive intelligence, as well as the benefits available to those who use it. We look at the components of the ideal competitive intelligence program, and the key aspects of a system on a smaller scale. Finally, we look at the ever-present and elusive idea of ROI as it relates to competitive intelligence efforts.
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