What is Competitive Intelligence (CI) and What It Should Include
2 likes709 views
Competitive intelligence (CI) is the systematic process of collecting and analyzing information about an organization’s environment, including competitors, market trends, and internal factors, to make informed business decisions. It evolves from simply gathering data to providing actionable insights that influence strategies across various organizational roles. Effective CI requires adherence to ethical standards and encompasses various analytical methods to ensure organizations remain competitive.
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
- 9. Competitive Intelligence Maturity Model 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
- 11. Organizational Hierarchies • Example #1: • Example #2: What is CI – and What It Should Include
- 12. Organizational Hierarchies (continued) • Example #3: What is CI – and What It Should Include
- 13. Organizational Hierarchies (continued) • Example #4: What is CI – and What It Should Include
- 14. 5 Intelligence Pillars 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