Glossary

Competitive intelligence

Competitive intelligence is a term which is used to describe the strategic early information and warning system that is prevalent in businesses.
The abbreviation CI is also used to describe the term.

The concept mainly serves as practical instrument that clarifies the market and competitive situation a company is facing. The aim is to create relevant, accurate and usable strategic knowledge about competitors, the company’s position, performance, capabilities and intentions.

For this reason the company’s external environment is monitored for information that is relevant for the decision-making process within the company.

The CI cycle distinguishes between different phases:
planning, data collection and processing, analysis and interpretation, reporting and distribution as well as decision. The concept of competitive intelligence is widely-used in US companies. In Germany it is rather new.

To sum it up: Competitive intelligence helps gaining information about other companies, persons or processes as a basis for better decisions. The main purposes are to guard ones own organization against threats or to gain competitive advantage. Competitive intelligence goes beyond traditional market research in terms of methods and instruments. FBInnovation offers competitive intelligence services.