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Definition

Competitive Intelligence (CI) is that the action of shaping, gathering, analyzing, and distributing intelligence regarding product, customers, competitors, and any side of the atmosphere required to support executives and managers in strategic decision making for an organization.

Competitive Intelligence means that understanding and learning what happening within the world outside the business to extend one competitivity. It means that learning the maximum amount as potential, as presently as potential, regarding one external atmosphere as well as one business generally and relevant competitors.

Key Points

• Competitive intelligence is a legal business practice, as opposition industrial undercover work, that is illegal. The focus is on the external business environment. There is a method concerned in gathering data, changing it into intelligence then victimization it in deciding.

• Some Competitive Intelligence professionals erroneously emphasis that if the intelligence gathered is not usable or actionable, it is not intelligence. Another definition of Competitive intelligence regards it because the structure perform to blame for the first identification of risks and opportunities within the market before they become obvious (early signal analysis).

• This definition focuses attention on the excellence between dissemination of wide on the market factual info (such as market statistics, money reports, newspaper clippings) performed by functions such as libraries and information centers, and competitive intelligence that could be a perspective on developments and events geared toward yielding a competitive edge.

• The term Competitive intelligence is sometimes viewed as substitutable with rival analysis, however competitive intelligence is over analyzing competitors; it embraces the whole surroundings and stakeholders: customers, competitors, distributors, technologies, and macroeconomic data.