What is Competitive Intelligence?
The term ” Competitive Intelligence ” is much older than one might think. Its origins date back thousands of years and derive from economic, military and political intelligence. Both the concept and the practice of intelligence have evolved over the centuries to also include terms such as competition to refer to the search for alliances and also to the fact of competing with each other. Summarizing, it could be said that it has evolved to define it as the strategy of cooperating and competing at the same time.
One of the most recent and clarifying definitions of Competitive Intelligence is that of Gibbons and Prescott, from 1996. “The process of obtaining, analyzing, interpreting and disseminating information of strategic value about the industry and competitors, which is transmitted to those responsible for decision-making at the right time.
At Redlfexión we are specialized in this process of searching and analyzing all this valuable information for decision making. Thanks to this meticulous work, we allow companies to anticipate their own competitors.
For more than 20 years, many public and private companies have come to us to be able to implement intelligence units with the aim of establishing the necessary strategy to design a successful plan in the medium and long term.
Why should I implement competitive intelligence in my company?
In such a changing and constantly evolving environment, where our competitors are constantly growing, it is essential to stay up to date and not be left out of the market.
How to survive in this dynamic environment?
It is clear that the magic word for not being left out of the market is: innovation. You have to access all the information available to be able to implement your own strategy and stay alive in a competitive and demanding environment.
It is at this time that we rely on Competitive Intelligence and that allows us to achieve certain objectives, such as:
- Identify new trends and anticipate changes
- Find out which markets and countries are most attractive for our sector
- Analyze competitors and their behaviors
- Locate potential suppliers or customers
- Understanding customer needs and consumer demands
- Evaluation of possible opportunities or threats
- Optimization of our resources
- Possible alliances with strategic partners
All these objectives are the result of careful data analysis that allow us to visualize Competitive Intelligence as a process that ends up helping companies in decision making.
A result based on real data that provides an important tool to choose the correct path towards the expansion of the company itself and minimizing risk.
Take advantage of the help of the DIGITAL KIT and take your company to another level
Competitive Intelligence in companies is a reality that every day acquires more value, since it is of great importance at a strategic level.
Within the framework of the DIGITAL KIT , many SMEs have the opportunity to take another step towards their business expansion. We are sure that this is a subsidy plan that will promote both access to this type of service and awareness among SMEs about the importance of competitive intelligence in the development of any company.
From Redflexión we take care of everything. We are registered as digitizing agents for all the services of the DIGITAL KIT . Discover how to provide a comprehensive solution to your company that will allow you to completely digitize all processes and develop your own strategy to identify new business opportunities.
What are you waiting for? Get in touch with our team of experts, we will be happy to help you. And, if you want to be aware of all the news and available subsidies, we invite you to follow our social networks so you don’t miss any news. Here you can directly access our Linkedin .
