COMPETITIVE INTELLIGENCE
Tailoring & Targeting Data for Maximum Results
A NATIONAL DILEMMA
An abundance of data,
but a shortage of
knowledge
LESSONS TO LEARN
If you are ignorant of both your enemy
and yourself,
then you are a fool and certain to be
defeated in every battle.
Sun Tzu (500 B.C.)
LESSONS TO LEARN
If you know yourself,
but not your enemy,
for every battle won,
you will suffer a lost.
Sun Tzu (500 B.C.)
LESSONS TO LEARN
If you know your enemy and
yourself,
you will win every battle.
Sun Tzu (500 B.C.)
QUESTIONS TO ASK
How well do you know your business?
QUESTIONS TO ASK
How well do you know your
customers?
QUESTIONS TO ASK
How well do you know your
competitors?
QUESTIONS TO ASK
How can we better learn to conduct
research and easily analyze data?
QUESTIONS TO ASK
What are some of the techniques you
can employ in your business today?
QUESTIONS TO ASK
What lessons can we learn from other
companies that have targeted
intelligence data for competitive
advantage?
C.I.A. : WHAT IT IS + WHAT IT’S NOT
Forward-looking
Decision relevant
Provides early analysis of emerging trends, threats
and opportunities, so that management can begin to
act before events force them to
It’s about asking the “right” questions
It’s not about how much data, but rather which data
you collect
It’s knowing what to look for and how to use it for a
specific need
CONDUCTING C.I.A. IN-HOUSE: MEANS + METHODS
Determine if there is a need for collecting
Competitive Intelligence Data
Establish a plan to make it happen;
who will be involved
what are you trying to uncover
means of research
methods of compiling data
application into existing business model, in other words how will
this knowledge be used.
Prepare and circulate a list to employees of factors
that are critical to your company’s success.
CONDUCTING C.I.A. IN-HOUSE: MEANS + METHODS
Find a Champion
Create Reward Incentive Programs
Look Beyond the Usual Suspects
Analytical & Creative Skill Sets are Best
Get them out there
Cultivate Relationships
Find Free Resources & Affordable Recourses
Online Searches
Industry Events
Blogs & Op-Ed Articles
Decide How to Present Data when Done
MOVING FROM INFORMATION TO INTELLIGENCE
1. Collect information
- Have a clear goal and target in mind
- One that’s tied to Management’s priority needs
- Be sure it directly supports key criteria
2. Convert information into intelligence – C.I.A.
(Collating and Cataloging, Integrating data with other pieces of
information and finally Analyzing and interpreting it).
3. Communicating the Intelligence to all appropriate
personnel
4. Countering any adverse competitor actions
(i.e. using the intelligence)
FOCUS ON DECISION, NOT INFORMATION
Function at a strategic level
Provide forward looking analysis that provides early
warning of emerging threats and opportunities
Deliver something unique, something tangible,
something actionable
Be willing to raise the flag if something controversial
comes up in the research process
Be prepared to work harder
Look beyond the usual suspects
Connect the dots
Set milestones and a deadline to each assignment
THE NEXT NATURAL QUESTION
So why is C.I.A. a viable
option for your business?
REMEMBER SUN TZU
It is pardonable to be defeated,
but never to be surprised.
Sun Tzu (500 B.C.)
Presented by Joseph P. Benty
MEYER, SUOZZI, ENGLISH & KLEIN, P.C.
COMPETITIVE INTELLIGENCE
Tailoring & Targeting Data for Maximum Results