Competitive Intelligence is a systematic collection and analysis of information from multiple sources, defining, gathering, analysing, and distributing intelligence about products, customers, competitors, and any aspect of the environment needed to support executives and managers in strategic decision-making.
Competitive Intelligence or Early Signal Analysis provides also early identification of risks and opportunities in the market before they become obvious. This definition focuses attention on the difference between dissemination of widely available factual information (such as market statistics, financial reports, newspaper clippings) performed by functions such as libraries and information centres, and competitive intelligence which is a perspective on developments and events aimed at yielding a competitive edge.
It is a legal business practice, differed from Industrial Espionage, which is illegal.
Our customers for this service, receive the following set of knowledge and data on:
- competitor companies and their strength and weaknesses;
- competitor products and their market advantages (including market perceptions);
- factors to affect competitor operations and/or products in near and mid-term;
- government and/or legislation changes affecting the customer market standing;
- product promotion methods engaged by competitors;
- other information as scoped and targeted by customer