What is Competitive Intelligence?

In XXI century it is not enough knowing the present environment. Every company which wants to develop and gain competitive  advantages, must have available information about the present and the future. Competitive Intelligence is the tool supporting  knowledge and management, what is valuable for decision-making process. Competitive Intelligence techniques aim to collect information  from  external  environment,  which  includes  economical,  political,  geopolitical, social, cultural, legislative, regulatory, competitors', sectorial and market aspects. Next steps of Competitive Intelligence process is analysing and applying the information. Because information not used, is out of value.

What covers Competitive Intelligence?

Two main types of Competitive Intelligence (CI) are offensive CI and defensive CI. Offensive CI helps  to  improve  company's  knowledge  about  environment.  Defensive  CI  helps  to  protect company's information and company itself.For Competitive Intelligence purposes the following tools can be used: sectorial monitoring,environmental monitoring, power map, geopolitical monitoring, benchmarking, legal monitoring, societal monitoring, due   diligence, marketing  watching, competition  monitoring, strategic planning  and  development,  monitoring  planning,  technological  watching,  patent  watching, regulation and standardize monitoring, market scanning, lobbying, purchasing monitoring, regional economic strategy, stock exchange monitoring, competition monitoring, institution scanning.