Competitive Intelligence
Competitive intelligence, also known as corporate intelligence, is information that is gathered and analyzed by companies about other companies in the same market.
Updated: November 22, 2023
Competitive intelligence, also known as corporate intelligence, is information that is gathered and analyzed by companies about other companies in the same market. Competitive intelligence generally focus on those aspects that give another company a competitive advantage over the company doing the analysis. This data is then used by the business to give a better understanding of opportunities and challenges in their industry.
Competitive intelligence software can be used by companies to review marketing, sales, products, and customers of another company. These information are centralized to give teams information to collaborate and make more informed, strategic decisions.
Strategic and Tactical are two types of competitive intelligence. Any competitor intelligence work should include research into competitor analysis, market analysis as well as strengths and weaknesses to get a more complete picture of the competitive landscape.
Competitive intelligence provides a good understanding of where the business stand in their industry and market. Providing data for more accurate benchmarks, allowing teams to make more informed decisions and giving insights into the wider landscape are other benefits of competitive intelligence.
Business should set clear goals, identify a handful of key competitors, find reputable sources for information and build research into weekly work when conducting competitive intelligence.
Types of competitive intelligence
- Market Intelligence
- Competitor Intelligence
- Product Intelligence
- Price Intelligence
- Customer Intelligence
- Technology Intelligence
- Regulatory Intelligence
- Strategic Intelligence
- Tactical Intelligence
- Operational Intelligence
