Competitive Intelligence Project Should Start With Three Basic Things

This post is called Competitive Intelligence project should start with three basic things. Before starting a Competitive Intelligence project, it’s essential to understand what you need. Why you need to do it, and what decisions you want to make. That may sound a little obvious to some, but it’s important to point it out.

What’s Competitive Intelligence?

Competitive intelligence is the finding, sorting and critical analysis of information. To make sense of what’s happening and why. Predict what’s going to happen and give the options to help you control the outcome. Competitive intelligence offers certainty, competitive advantage, insight, growth & security.

Ask the right questions

  • What do you need to know to solve a problem?
  • What’s the problem?
  • And what’s the decision-maker trying to accomplish?
  • Who is the decision-maker?
  • How can we limit uncertainty for the decision-maker?
  • Avoid yes/no questions
  • Would a non-expert understand the question?
  • Summarise the problem in one sentence of no more
  • Make sure the question is inclusive. Broad enough to cover what you think you’ll need to cover but narrow enough to provide a helpful answer.
  • Do the questions meet your needs?

What are the drivers?

  • Create a list of between 6-10 driver that covers what you need to answer the question
  • Then find out if every driver linked to the questions asked. Or is there anything peripheral?
  • And make a basket for each driver to put associated into them.

On the right track?

  • Metrics that will help you understand if you are on the right track?
  • Set a metric with a time frame and measurability than three lines.

Your needs

Produce a clear, simple understanding of what you want to do.

Situation

Describe the situation you are experiencing. And understand the key players and the problems are you facing. Describe what do you need to know and what will you do with the Intelligence.

The mission

What are you going to do about it? So, starting – Our mission is to…

The questions

We will answer the following intelligence questions by 12th October 2021. To create valuable Intelligence, insight and recommendations.

Actions on

What will we do if the plan changes?

Competitive Intelligence Project Should Start With Three Basic Things

This post was called Competitive Intelligence Project Should Start With Three Basic Things. Before starting a Competitive Intelligence project. First, understand what you need. Then why you need to do it, and finally, what decisions do you want to make.

Home » Blog » Insight » Competitive Intelligence Project Should Start With Three Basic Things

This is a drawing of the Octopus Intelligence Logo By Octopus Competitive Intelligence, Due Diligence, Competitor Analysls, Market Analysis, Competitor Research and Strategic Business Development to beat your competitors, increase sales and reduce risk

About Octopus


We create certainty, insight, competitive advantage and significant growth for clients operating in disruptive and traditional sectors.

Trusted by brands, middle-market players, investors and startup innovators to answer the questions when you just need to know.