When playing in a crowded field, the most assured way to stay ahead of the competition is
knowing what they’re going to do before they have done it. Competitive intelligence should
be perceived as an essential tool when creating a long-term business strategy. It provides
you with the tools to identify, analyze, and act on intelligence related to your business’s
competitive landscape. This intelligence can include anything and everything encompassing
your entire business landscape – products, customers, supply chain, pricing, human
resources, etc. The key is to identify opportunities, challenges, and white spaces to build
a strategy that creates competitive advantage and differentiation. But, it is impossible for
businesses to differentiate themselves from their rivals without visibility into their
activities.