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How to Conduct Competitive Intelligence Research

Owler

Competitive intelligence is the practice of gathering, analyzing, and acting on information about your market, industry activity and disruptions, competitors, and their products/services. This article will talk about how competitive intelligence can pave the way to powerful insights that inform crucial business decisions.

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What does the future of Competitive Intelligence look like?

Markets and Markets

As per the SCIP survey, the foundation of CI does matter. Almost every industry is becoming more and more competitive with the passing time. As per Crayon’s SCIP survey, a whopping 90% of businesses said that their industry has become more competitive over the last three years, and 48% said that it has become much more competitive.

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Challenges in Competitive Intelligence and Best Practices to overcome them

Markets and Markets

Creating a competitive intelligence (CI) plan can be daunting, even for experienced CI professionals. In Crayon’s SCIP report, it was found that 95% of CI professionals struggled with at least one of the following areas –. Gathering all the competitive data you need on time. Gathering competitive data on time.

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How to Create a Competitive Analysis Template in 2023

Netbasequid

Ultimately, a competitive analysis will help grow your market share by taking it from the competitor or tapping into new opportunities. A similar process that must be on your radar is competitive market research, which is involved with the entire competitive landscape rather than a single rival.

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Competitive Intel: A Complete Definition and Guide

Netbasequid

And the fuel for these leaps and strides is competitive intel, which influences business strategy. What is Competitive Intel? During a 2021 NetBase Quid LIVE event , Cam Mackey, CEO for SCIP, shared a few tips with the audience. Strategy: What is the proper approach to competitive intel? The Process: How to look.