Competitive Intelligence Essay

Information – business intelligence – is no longer the exclusive domain of IT or research departments. From marketing and finance to management and operations, intelligence is applied strategically throughout the enterprise. And professionals who know how to gather and leverage it are the ones who will lead organizations, control decisions, and be relied upon to steer their companies.

Competitive intelligence can include competitor analysis, knowledge management, market research, and business strategy and business research. Competitive intelligence can be used as an everyday business tool to analyze stocks or look for weaknesses in the competitor (Competitive Intelligence, n.d.).

This paper gives a justification of the importance for Kudler Fine Food’s development of its marketing tactics and strategy, and identifies other areas where additional research is needed. An analysis is done to understand the importance of competitive intelligence in regard to the development of Kudler Fine Foods marketing strategy and tactics.

Competitive intelligence is a great tool to use in marketing research. It is “A systematic and ethical program for gathering, analyzing, and managing external information that can affect your company 's plans, decisions, and operations” (“Definition competitive intelligence“, 2011, para. 2). A company can use competitive intelligence to learn more about their competition and figure out ways to better market to their company against their competition.

It is critical for Kudler Fine Foods to know their market. Competitive intelligence is a means of knowing your customers, your competitors, and your market. Competitive intelligence can also help to identify what may happen in a market, or what a competitor may do in the future. When developing a marketing strategy and marketing

The importance of competitive intelligence and analysis in regards to the development of Kudler Fine Food’s tactics offers the consumer the opportunity to tell them what they do or don’t like, which store they have shopped in, how the learned about Kudler Fine Food’s, and why they shopped there and why they will shop there again. Any tactic a business can use in analyzing their own web-site through the eyes of their customer is a very strong use of competitive intelligence.

Using Internet tools, a company can implement specific search strategies to gather competitive intelligence easily, quickly, and relatively inexpensively. The internet provides new opportunities for Kudler to strengthen its strategic positioning In order to achieve a sustainable competitive advantage and Set them apart from the pack. Turban provides the following intelligence search strategies through use of the internet:

In order to be an effective analytical competitor, Davenport and Harris (2007) assert that firms must meet certain prerequisites. Those prerequisites are at least a moderate amount of quality data about the type of business that analytics will support, hardware and software, the commitment of managers to develop analytics, and executive sponsorship (Davenport and Harris, 2007, p.16). Analytics is about extrapolating new information and

Intelligence is often defined as accurate and timely information that assists our nation’s senior leadership in making knowledgeable decisions to prepare for and counter any developing threats against the security of the United States and its citizens. Intelligence is collected in response to requirements levied on the intelligence community by senior policy makers, the military, and law enforcement agencies. It plays a crucial role in our ability to detect and prevent threats against the United States.

After advisors identify what their target market is, they must then define their competitive advantage. As we mentioned above, having a competitive advantage means having an advantage that puts them in a favorable business position. There are many ways advisors can achieve a competitive advantage, check out some effective ways:

Ans: In my opinion competitor intelligence used by the Greens & Co. to identify the advantages and disadvantages of their US based competitor or potential rival, McLarens before entering the US market Because, McLarens was already so

James Baron and David Kreps had given the Five-Factor model, which is based on Michael Porter’s Five Forces model of business analysis (Porter, 1980). These factors will influence the Competitive Intelligence system in any organization. These factors are External Environment, Workforce, Organizational Culture and Structure, Organizational Strategy, and Technology of Production and Organization of Work (Baron & Kreps, 1999). Lack of correspondence between any one of these factors can lead the firm’s CI practices to the failure.

Intelligence analysis?is the process of taking known information about situations and bodies of strategic, operational, or tactical importance, characterizing the known, and, with appropriate statements of probability, the future actions in those situations and by those entities (Richards, 2010).?The descriptions are drawn from what may only be available in the form of deliberately deceptive information; the?analyst?must correlate the similarities among deceptions and extract a common truth. Although its practice is found in its purest form inside national?intelligence agencies, its methods are also applicable in fields such as business intelligence?or?competitive intelligence.

This project is written to explain the processes involved in implementing a business intelligence system. It continues to describe the technologies involved in a business intelligence system, as well as the purpose of the system and how it can help companies become a leader in the industry. Lastly, the report contains facts about industries that have implemented a business intelligence solution, how they use it, and the benefits they reap from the implementation. The report covers multiple industries, but focuses on Chevron oil company and analyzes its business intelligence solution.

This paper illustrates the concept of Business Intelligence as a stored knowledge of the company that can be developed and organized for better and effective decision making process. It synthesizes the concept of business intelligence and introduces the BI information system software that can harness all the needed information and data for decision makers. This process is placed in the context of mid size companies in Saudi Arabia for them to gain competitive advantage.