Competitive intelligence (CI) is a broad practice of collecting, analyzing, and communicating the best available information on competitive trends outside one's own company. The goal of CI is to help businesses make better decisions about product development, marketing, and other strategic areas.
There are many different methods for gathering CI. Still, some common approaches include market research, monitoring competitor activity, and conducting interviews with industry experts. Once the data is collected, it must be analyzed and organized to be useful for decision-makers. Finally, the CI team must communicate their findings to the appropriate stakeholders clearly and concisely.
CI can be a valuable asset for any organization that wants to stay ahead of the competition. By understanding what others are doing, businesses can make more informed decisions about their products and strategies.