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SWOT analysis is one of those popular tools many use but rarely get the most out of. As you will likely know, it systematically evaluates strengths, weaknesses, opportunities, and threats. And then identifies potential areas of improvement.
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Competitive analysis is an essential part of any business strategy, as it allows you to understand the strengths and weaknesses of your competitors and identify areas where you can improve your own offering. In this blog post, we will explore the best ways to research your competitors and gather information to inform your competitive analysis. Put simply, how to do competitive analysis if you have not done it before.
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There are increasing concerns about the significant reduction in improved rates of IQ. This is essentially a global phenomenon and has been changing for some time, the situation should now be considered seriously by employers as part of the long-range, and to be frank, the not-so-long term represents a worry too.
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SWOT analysis is a popular tool you may have heard of once or twice. Especially if you have been to your local business school. It’s used by many businesses, often incorrectly, to assess their:
Strengths
Weaknesses
Opportunities
Threats
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Competitive intelligence is about collecting, analysing and distributing information about competitors and markets. So you can make informed strategic decisions. While data plays a crucial role in competitive intelligence, it is not data-driven. This article will explain why competitive intelligence is not solely dependent on data. Or, to put it more bluntly, why competitive intelligence is not data-driven.
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There is a common misconception that Competitive intelligence is somehow data-driven. While data plays a crucial role in competitive intelligence, it is not entirely data-driven. This article offers some example competitive intelligence questions to help start your project.
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We have mentioned this once or twice. But in case you haven’t read one of our articles before, we will repeat it. Great Competitive Intelligence is about asking great questions. And spending time doing excellent analysis of the information you find is the cherry on the cake.
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LinkedIn is a powerful tool for businesses seeking an edge over their competitors. With the right approach, it can be used to identify and connect with a competitor’s key customers
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The Role Of Business Development
On our minds today is the role of business development. And its ability to be aided by insight, specifically competitive intelligence services. What’s happening now is that we’re seeing the first evolutions of what might be loosely considered a regressive business landscape for at least the foreseeable future. And irrespective of what central banks do with their interest rates, there’s already a shock wave regarding investment markets and appetite for growth. Also and with governmental aspirations and attitudes towards international business development, all of which lead people in business to challenge their uncertainty about what they’re going to do. And invariably, that permeates across to the business development function.
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Any decent competitive intelligence project starts with excellent questions. The quality of the questions influences the quality of the answers received.
Defining questions is crucial to ensure that you get the information you need. Here are ten quick ways to express and structure excellent questions:
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All businesses aim to become successful in their fields. Hence, an intelligent strategy is helpful in this pursuit. Competitive intelligence lends that helping hand to enterprises, allowing them to sail through the sales journey efficiently. It is referred to the engagements that focus on gathering information about a company’s external environment via research.
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ChatGPT is a powerful tool that’s starting to reshape how we all work, live, and to an extent, how we do business. AI is making moves. It’s up to us to keep up or get left behind. This article is all about competitive intelligence and ChatGPT.
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Attracting customers from competitors is a challenge that many businesses face. It can be difficult to stand out from the competition and convince customers to switch to your business. However, with the right strategies, you can successfully draw customers away from your competitors and into your business. In this blog post, we will discuss some of the best and most straightforward ways to attract customers from competitors.
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With their Open Banking API, an International bank came to Octopus Intelligence for help with market access and competitor analysis. This article is an open banking competitive intelligence case study for an international fintech bank.
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You know when you get access to a major database platform and think it looks impressive. So much data at your fingertips. And it’s easy to search for stuff, and you have every revenue figure at your fingertips. Even some of them outside the global 500. But then you think, yeah, but? There’s got to be more to competitive analysis than old reports and lots of data. You buy the latest global report on your industry sector. 140 pages of great information. You sit down and read it. And you feel more informed. Market research report delivered, but again, you think, yeah, but?
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Back before time, there used to be a thing that is today as mythically mysterious as a minotaur and as vital as breathing. And that was so important that its practitioners were grudgingly loved and openly derided. I am referring to the art of selling. In ancient times, everything depended on the process.
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Did you know that Competitive analysis is a powerful and cost-effective tool to help small businesses? Help businesses like yours understand their industry and the competition. Look at competitors’ strengths and weaknesses to learn from their successes and failures.
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Battle cards are currently a very trendy competitive intelligence tool. But battle cards are a great way to show the insight you have created. Have them prepared before an important sales meeting. They are short and sweet cheat sheets that help you understand your competitors
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If Mozart had been born a millennial and been subject to the modern world, would he have produced what he did? For that matter, would a Frank Lloyd Wright, Copernicus, Isaac Newton, or Isaac Asimov?
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Welcome to our weekly raw and unfiltered straight-talking look at all things associated with competitive intelligence and related insight. This article is called So why is intelligence such a big deal, and what is it anyway? It accompanies this week’s episode, which can be found here:
