Key Questions Competitive Intelligence Analysis Services Can Answer To?

For firms and organizations, the focus on profits, business growth, and margins has increased significantly. According to a recent survey conducted on 400 CEOs, growth is the top priority for more than 58 percent CEOs. Achieving this growth will need prioritization of business drivers such as capital investment, operation costs, increased efficiency and Competitive Intelligence Analysis Services. Actionable competitive intelligence can assist businesses in focusing on growth while ensuring market validity.

What is competitive intelligence?

Competitive intelligence refers to focusing on your competitors, their current activities, capabilities, plans, and intentions. It enables a business to be agile to react to their competitor’s actions. You can introduce new products, adjust pricing, and discontinue services or products that competitors are offering, depending on the needs of your business.

So, how would you get competitive intelligence? In our digitized world, competitor information is available from different sources. Appropriately analyzing raw data gathered from multiple sources is a vital success factor on the path of acquiring competitor intelligence (CI).

What answers can you get from active competitive intelligence?

Useful Competitive Industry Analysis Services help you compare your business’ strengths and risks vis-à-vis your competitor’s capabilities. With the help of primary and secondary research, you can have access to correct information that will enhance your crucial business abilities.

The following are some important questions that CI can provide an answer to:

•    Who are your current and potential competitors?

•    What are the capabilities of your competitor?

•    What’s the market share of your competitor?

•    What are their service or product lines and how similar or different they are from yours?

•    How are their finances?

•    What are their digital and marketing aspects and strategies?

•    Are they filing for patents and getting innovative solutions in the market?

•    How is their social media presence?

•    What are their long-term and short-term business goals?

These are some of the many questions you can get insights on. Depending more on the information required the research can cover multiple data points. The leadership team, geographical spread, decision makers, and key clients are some of the other things that can be explored from a detailed competitive intelligence report.

CI can improve strategic planning operations. It will also help you operate managers within strategic business units, product managers, and those involved with product development, new business development, and acquisitions and mergers.

So, if you want competitive intelligence, data, analytics or Business Plan Development Services, reach Penterra Analytics today. Penterra provides you with time-bound, fast and effective services within the predetermined deadlines.