Importance of Competitive Intelligence

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In today’s competitive environment, success in the market depends primarily on strategic planning, early decision and understanding the competitors. Competitive intelligence provides knowledge of competitors, their marketing strategies, objectives, research activity, their strengths and weaknesses and other information.

Competitor Analysis helps companies in understanding their position with respect to major competitors in the global competitive environment and provides actionable business competitive intelligence. Early and better understanding of the key competitors’ strategies helps to take proactive, planned and informed strategies business and R&D decisions in order to gain market dominance.

Competitive intelligence is the process of discovering, analyzing and using intelligence from publicly available, non-proprietary information sources for the purpose of becoming more competitive.

Competitive intelligence isn't simply about finding information. It's not about snooping on competitors. It's about analyzing information in a continuous process that is tightly linked to your strategic planning. It's your company's circulatory system for knowledge.

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