Posts Tagged 'intelligence cycle'

What is a proper competitive intelligence tool? (I)

While BI tools and solutions became a commodity – and therefore offer roughly the same functionality – CI tools are not at that stage (yet). So for that reason it is important to have a good understanding of the functionality the tools can offer to be able to determine whether or not a CI tool will suit your needs and will support your CI processes best. In this series Anne and yours truly will address some of the functionality we believe is important and that such tools should offer to be called a CI tool (in our humble opinion).

Competitive Intelligence – Think Big, Start Small (III)

The previous posts had a bit of an open end, for which I apologize. So by popular demand, in this post I will reveal what happened to my restaurant after I started practitioning CI. Did I manage to turn the Thursday evening into a profitable night, inspired by my competitor but without losing my identity? And what else did it bring me to reward my invested time? Also, I pointed out that you don’t necessarily need fancy tools to support a CI system at this maturity level. I will show you what I accomplished with little or no investment in tooling, creating a system to support my activities.

Competitive Intelligence – Think Big, Start Small (II)

In the previous post we investigated whether or not I should consider practitioning Competitive Intelligence in my restaurant ‘Chez Jérôme’. We designed a partial action plan based on my strategic goals and based upon that, I decided that it was most definitely useful to invest some time and effort (and scarce means) in CI. In this post I will focus on the next steps, now that we decided to go through with our Competitive Intelligence ventures. I will also address some tools that you can use to support your process, which are by the way not Competitive Intelligence tools because that is too big an investment for the size of my restaurant (see my post “The Synergy between Competitive Intelligence and Social Media” for my definition of competitive intelligence tools).

Competitive Intelligence – Think Big, Start Small (I)

When we hear success stories on Competitive Intelligence (or other related professions such as Business Intelligence), the companies in question often have mature CI systems in place, with lots of supporting software, contracts with (expensive) content providers or news sources and many CI professionals to support decision makers in their tough task of guiding their company through stormy weather. Of course that makes sense because these companies have much more visibility in the market than small companies, the stakes are higher and the struggle to beat competition is drawing more attention, especially when it is a publicly traded company. But that doesn’t mean that smaller companies with ditto budgets cannot gain serious advantage by practitioning CI. In fact I think the effect per invested coin of your choice may even be larger and CI may even be more vital for these companies. Let’s have a closer look at that in this post.