* Online course: https://www.voiceofthebusinessacademy.com/course/what-competitive-intelligence-ci-and-what-it-should-include
While market research often focuses on fulfilling specific information needs, Competitive Intelligence is an ongoing process of developing a holistic analysis of your organizational environment. “Competitive” Intelligence is not “Competitor” Intelligence. Competitive Intelligence can focus on a specific aspect of Competitor Intelligence, but it can also focus on other disciplines such as products, customers, employees, lost prospects, marketing, sales or environmental aspects. Competitive Intelligence provides organizations with a competitive advantage in any of those disciplines when a structured program is properly implemented, managed and maintained.
Competitive Intelligence is not market research, nor is it espionage, nor is it simply doing internet searches. It is a completely legal and an ever increasingly essential element in allowing organizations to make more effective decisions on both strategic and tactical initiatives. Competitive Intelligence also provides vital insights and serves as an early warning of future events, which uncovers positive or negative impacts to your organization.
One of the most important aspects of implementing any intelligence program is the ability to convert data and information into actionable intelligence. It is often said that information costs you money, while intelligence makes you money. In order for that to happen the data and information obtained has to be strategic, unbiased, measurable, actionable, and above all, repeatable. Without that foundation in-place, intelligence programs are much more susceptible to failure.
This webinar will uncover and discuss all aspects an organization should understand and consider when it comes to what Competitive Intelligence is comprised of and all the different facets that it can be leveraged for.
Marel Q1 2024 Investor Presentation from May 8, 2024
What is Competitive Intelligence (CI) and What It Should Include
1. What is Competitive
Intelligence (CI) – and What it
Should Include
Monthly Intelligence Webinar Series:
Primary Research CX/CI Experts
www.market-awareness.com
What is CI – and What It Should Include
2. VoiceoftheBusinessAcademy.com
What is CI – and What It Should Include
• On-demand courses and roadmaps
• Accreditation and certification
• “How” in addition to “why”
• Templates to implement in your
organization
• Created by professionals who have
implemented in the real-world
• Organizations can select courses to create
their own training programs
3. What We’ll Be Covering
1. What is Competitive Intelligence
2. Why Competitive Intelligence can be confusing
3. Evolution of Competitive Intelligence
4. Competitive Intelligence Maturity Model
5. Ethics Required
6. Organizational Hierarchy Structures
7. The 5 Pillars for any Intelligence Program
8. Analytical Methods and Models
What is CI – and What It Should Include
4. What is Competitive Intelligence (CI)
• CI is the process of planning, gathering, analyzing, converting, disseminating
and tracking intelligence about your products, customers, employees, lost
prospects, competitors, marketing or sales
• Competitive intelligence essentially means understanding and learning what's
happening in the world outside and inside your organization so it can be as
competitive as possible and therefore retain more customers and attain a higher
win-rate with prospects
• The days are gone when leadership can summons their best and brightest
internal resources to strategize on what they think the organization needs to do
in order to remain competitive – and then determining solutions in a vacuum
What is CI – and What It Should Include
5. What is Competitive Intelligence (CI)
Example
What is CI – and What It Should Include
6. Why Competitive Intelligence Can Be Confusing
• People use CI to describe many things – some inaccurately
• CI can pertain to: products, customers, employees, lost prospects, competitors, marketing,
sales, or environmental aspects
• CI provides organizations with a competitive advantage – and can take many forms
• Acronyms used:
o CX
o VoC
o VoE
o VoB
o KPI’s and KITS
o HUMINT
o SI
o TI
What is CI – and What It Should Include
7. How Competitive Intelligence is Different Than…
• …business intelligence?
• …knowledge management?
• …market research?
What is CI – and What It Should Include
8. Evolution of Competitive Intelligence
• CI attempts to answer specific critical questions that can impact your organization
like:
o How is competitor X able to grow and capture market share?
o Do our customers view our organization as being client focused and
innovative?
o What is the #1 reason why we lose prospects?
o What new products will competitor X develop and when do they plan to
release them?
o What are the core competencies of all our primary competitors?
o Will our customer-base value the product enhancements we are considering
developing?
• CI applied to many organizational roles
• Social media allows every customer or prospect to have a large voice
What is CI – and What It Should Include
10. Ethics in CI
"Competitive intelligence (CI) is the process of monitoring the competitive
environment. CI enables senior managers in companies of all sizes to make
informed decisions about everything from marketing, R&D, and investing tactics to
long-term business strategies. Effective CI is a continuous process involving the
legal and ethical collection of information, analysis that doesn't avoid unwelcome
conclusions, and controlled dissemination of actionable intelligence to decision
makers."
What is CI – and What It Should Include
15. Analytical Methods and Models
1. What kind of intelligence do we need in order to make more informed decisions?
2. What kind of information are we currently using?
Analytics:
• SWOT analysis
• PEST analysis
• Porter’s four corner analysis
• Porter’s five forces
• Porter’s six forces
• Value Chain analysis
• Early Warning analysis
• War gaming
What is CI – and What It Should Include
16. Conclusion
• Competitive Intelligence is the process of planning, gathering, analyzing,
converting, disseminating and tracking intelligence about your products,
customers, employees, lost prospects, competitors, marketing or sales
• Various providers of various components
• Solid foundation of your intelligence projects is critical (strategic, unbiased,
measurable, actionable, repeatable)
What is CI – and What It Should Include
17. Upcoming Webinars (register @ www.market-awareness.com)
Choose which future webinars you want us to feature:
18. Thank you…
Email any questions to:
management@market-awareness.com
What is CI – and What It Should Include