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A brief introduction to Competitive Intelligence

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An introduction to the the concept highlighting the importance and significance of the it.

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A brief introduction to Competitive Intelligence

  1. 1. COMPETITIVE INTELLIGENCE ANALYSIS GROUP 2 NEHARICA SHARMA JAGRUTI DWIBEDI VAISHALI ZILPE SHOBHIT DALAL PRADEEP YADAV SAI VEMURI
  2. 2. What is Competitive Intelligence?  Competitive Intelligence(CI) is the process of ethically gathering and refining information enough so that it can be used to make a strategic business decision.  CI Data can radically enhance an organizations decision-making process  A company gets additional context about its own performance, It can mine industry trends for actionable insights as well as understand its competition in the near-frictionless environment  CI allows a company to anticipate market developments proactively – rather than merely react to them
  3. 3. Why Competitive Intelligence? Playing the Game Better  Focus on existing competitors / Strategic position  Leverage value chain strengths  Incrementally Improve existing strategies / tactics Playing the Game Different  New Market opportunity  New Customers  Develop / leverage new value chain strengths  New strategies / tactics
  4. 4. Recommendat ions Analysis of Data Sources of Data Toolbar Data, Panel Data, ISP Data, SE Data, Tools u can use: 1. HitWise 2. ComScore What to Analyze? 1. Trends 2. Cost 3. Competitive behavior Track existing rivals Anticipate New Rivals Plan retaliation CI Pyramid
  5. 5. How CI Analysis is Done?  Collect the information (with a first stage - deciding what to collect)  Converting information into intelligence (with three steps: CIA -Collate and catalogue it, Integrate it with other pieces of information & Analyze and interpret it)  Communicating the intelligence.  Countering any adverse competitor actions - i.e. using the intelligence.
  6. 6. Competitor Analysis What is competitors FUTURE objective / goals? What drives the Competitors? What is their attitude towards risk? What is competitors CURRENT Strategy? How are they currently competing? How beneficial is this strategy in the competitive structure? What ASSUMPTIONS do Competitors hold about the industry and themselves? Are we assuming stable competitive conditions? What are the competitors CAPABILITIES? How do our capabilities compare to theirs What are their strengths and weaknesses?
  7. 7. Who’s Job Is It? Departments Project Managers Top Executives Planning and Finance Analyst Department Managers Independent Consultants Departments
  8. 8. Market Research Statistics  A recent Fortune 500 company survey showed that 55 percent make use of competitive information in composing business strategy.  Many companies still struggle with the process (Wright and Calof, 2006). There are two main reasons. The first is ignorance – many companies simply do not know how to gather and analyze external information properly or effectively. The second reason is somewhat arrogance. Confident in their belief that they are serving customers better than anyone, companies erroneously contend that competitor actions do not matter (Kahaner, 1998).
  9. 9. AMD vs INTEL  AMD measures Intel performance  Measure growth of visitors trends  Identify Intel’s traffic sources  Also, accesses CI data of other semi-conductor industries  Devices strategy to improve its performance.
  10. 10. Synopsis  According to the former Kellogg USA President Gary Costly, “The big payoff for CI is that it will point out weakness that you have internally because of the strength of your competitors. Companies that don’t do this will fail.”  The ability to produce and use CI will become a necessity in the near future for most organizations.  There is no other source of data on the planet quite like competitive intelligence data. So use it.
  11. 11. Thank You

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