“Competitive Intelligence (CI) is both a strategy and a tactis (a process and a product.) The process of Competitive Intelligence includes the action of gathering, analyzing, and applying information about products, customers, and competitors for the short term and long-term planning needs of an organization. The product of Competitive Intelligence is the actionable output ascertained by the needs prescribed by an organization." 1
Key points of these definitions:
Competitive Intelligence is an ethical and legal business practice. (This is important as CI professionals emphasize that the discipline is not the same as industrial espionage which is both unethical and usually illegal). The focus is on the external business environment.
There is a process involved in gathering information, converting it into intelligence and then utilizing this in business decision making. CI professionals emphasize that if the intelligence gathered is not usable (or actionable) then it is not intelligence.
NOTE: Whether or not a business or organization actually ACTS upon said Competitive Intelligence to improve themselves, gain better market share and dominate the competitive landscape is an entirely different matter and is the sole responsibility of said business or organization.
The term Competitive Intelligence is often viewed as synonymous with Competitor analysis but Competitive Intelligence is more than analyzing competitors — it is about making the organization more competitive relative to its existing set of competitors and potential competitors. 2, 2
Our competitive intelligence takes a scientific approach to identifying your competition and provides actionable output that helps you identify any immediate critical elements of your digital search marketing that are hindering you in the search engines or with potential Customers, identify your vulnerabilities and adjust any weaknesses making sure your foundation is solid and can support healthy growth, identify and capitalize on what you are doing well, and details how YOU can step out ahead of the competition.
Analyses looks at industry leaders, your top local competitors and also compares how your web presence stacks up against the competition. An actionable digital marketing strategy evolves that allows you to identify and adjust digital strategy and tactics to ensure you emerge in front of the pack plus a roadmap to keep you in front.