Competitive Intelligence

Competition is getting tougher and tougher. This makes it all the more important to know your strengths and weaknesses. Companies that want to "stay ahead of the competition" must have a functioning radar system to study competitors and market developments and to recognize relevant opportunities (or threats) in time. Competitive Intelligence (or Strategic Intelligence) keeps you one step ahead of the competition.

The term Competitive Intelligence

Competitive Intelligence is no exception to the general confusion of management terms. There are terms such as competitive intelligence, competitive analysis, competitive intelligence, competitive research, environmental analysis, corporate intelligence, market intelligence, competitive intelligence, competitive analysis, corporate foresight, competitive monitoring, business intelligence, etc., all of which ultimately complement and overlap each other. Ultimately, it is not the term itself that is important, but what these management terms stand for, how they are used in the company, and what benefits the company can derive from them.

Competitive Intelligence is a systematic approach to management:
Collecting and analyzing data and information from internal and external sources

  • Preparing, analyzing, and refining strategically relevant information into actionable, decision-support reports/intelligence
  • A structured, continuous process
  • Distribution of the resulting knowledge to relevant decision makers
  • An important part of the management decision-making process

What is Competitive Intelligence?

Competitive Intelligence is the planning, implementation, analysis and communication of competitively relevant information to help management make critical business decisions. Competitive Intelligence is more narrowly defined and focuses on a few selected competitors.

Only those companies that continuously, systematically and carefully monitor their competitors and the market environment and use the information gained as a basis for decision-making are in a position to achieve strategic competitive advantages.

The Difference Between Competitive Intelligence and Market Intelligence

Unlike competitive intelligence, which focuses heavily on direct competitors, market intelligence is broader and encompasses the entire market with all its players, including suppliers and customers.

The CI Cycle

The CI cycle consists of 5 successive phases. It begins with the planning phase, followed by the research phase, the analysis phase, the communication phase, and the decision/feedback phase.

KIQs and KITs

In the planning phase, the business-relevant topics are discussed and defined together with the management. These Key Intelligence Topics (KITs) are reformulated as questions and prepared as Key Intelligence Questions (KIQs) for the next phase.

Competitive Intelligence Literature - Books abou CI

  • Strategic Competitive Intelligence
  • Competitive Intelligence

Know thyself and know thy adversary; in a hundred battles thou shalt not be in danger.

Sun Tsu ‧ The Art of War, 500 BC

CI Tools and Competitive Intelligence Software

Companies are supported by software that automates their competitive analysis. The aim is to support the collection, storage and evaluation of information and data about competitors and the corporate environment in the form of reports (research reports). The task is to cover all phases of the competitive intelligence process as completely as possible in a competitive intelligence software.

ACRASIO Competitive Intelligence Consulting

With more than 20 years of experience in competitive intelligence on a global level, we help medium and large companies with competitive intelligence services to learn more about their market, customers and competitors and to make informed decisions. Simply arrange a no-obligation meeting.

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