What is Competitive Intelligence?
Competitive intelligence definition: competitive intelligence is the act of gathering information about competitors, or the current market situation, to inform decision making.
Actionable competitive intelligence can be gathered through:
- Competitor analysis
- First-hand experiences
- Third-party publications
And used to inform future business and marketing plans and increase a brand’s competitive advantage.
Competitive intelligence is subjective and depends on the person – or department – conducting the analysis.
For example:
- Marketers may want to uncover their ad targeting strategy
- Sales reps may want to understand how they approach lead generation
- Customer service reps may want to see what automated systems they use
Competitive intelligence must be performed ethically and legally, and not infringe on the illegal practice of corporate espionage.
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Additional resources about Competitive Intelligence
- “Competitive Intelligence” Shouldn’t Just Be About Your Competitors
- 6 Steps To Design A Successful Competitive Intelligence Process
- What is Competitive Intelligence?
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