What is competitive intelligence?
Companies often use all their internal knowledge but do not always use external information for solid decision making.
It is important for a company to understand its position within its market and make decisions based on business intelligence.
Technology watch is often confused with competitive intelligence when in fact they are processes that go hand in hand to ensure that organizations can remain competitive by making informed strategic decisions.
Technology watch is the process of capturing information from outside about science and technology, analyzing it, disseminating it and communicating it within the organization so that informed decisions can be made with less risk in order to anticipate changes.
When we talk about competitive intelligence, we refer to the process of gathering and analyzing strategic information about the market, competitors, the company’s external image, etc.
Aplications of Competitive Inteligence
The application of competitive intelligence allows organizations to facilitate in organizations:
- Anticipation: identification of customers, new competitors, markets, etc.
- Risk management: Monitoring of regulations to avoid risks in products and services.
- Continuous improvement: Spotting differences with competitors, market opportunities, etc…
- Innovation: New opportunities will allow new products and improvement of existing ones.
- Collaboration: Find potential partners, develop alliances to develop partnerships.
With RADARION your company will be able to automate the management of intelligence and competitive surveillance, achieving significant savings in the time of collection, classification and analysis of information.
