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The Need for Competitive Intelligence – CI

In today’s competitive business environment, having the right information about your competitors is not enough. In a world where competition is fiercer than ever and where technological changes occur rapidly and alter the rules of the game frequently,business managers are seeking new and innovative ways to make better decisions from this right information.

Information is merely the starting point of the decision-making process – intelligent analysis thereof and the resulting business decision based on these conclusions is much more important. Turning raw data and information into actionable knowledge is fast becoming the most complicated and critical management tool.

Many emerging economies regard Competitive Intelligence as a way to win economic wars against larger industrialized countries. What makes Competitive Intelligence even more critical in the new, post-industrial era is the growth of high-tech industries such as telecommunications, biotechnology, fiber optics and computers. Unlike the manufactured products of the past, the cornerstone of these emerging industries is sound intelligence derived from the right knowledge.