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Definition: The process of gathering actionable
information on your business's competitive
environment
Competitive intelligence essentially means understanding and learning what's
happening in the world outside your business so you can be as competitive as
possible. It means learning as much as possible--as soon as possible--about your
industry in general, your competitors, or even your county's particular zoning rules. In
short, it empowers you to anticipate and face challenges head on.
One of best websites for gathering competitive intelligence is Hoover's Online, which,
for a fee, provides in-depth profiles of more than !,""" public and private companies.
However, there is also free content available. #ou can research competitors, trac$
stoc$ mar$et performance, and $eep tabs on I%Os.
Other good sites include&
'un ( )radstreet, which provides information on companies relevant to your business
through a searchable database of companies in the *nited +tates and around the
world for a fee.
'ialog, which has a pay-as-you-go option, called 'ialog+elect, that allows you to
search through ,",""" ob-ective and respected publications and documents online
and pay for each article or report on a case-by-case basis.
.uld ( Co.'s internet Intelligence Inde/, which allows users to gather information from a
wide variety of public services for free. It contains lin$s to more than 0"" intelligence-
related internet sites, covering everything from macroeconomic data to individual
patent and stoc$ 1uote information.
2now3.com reports on ban$ruptcies, liens, -udgments and such against individuals and
businesses. +ome reports are free4 others re1uire a fee.
5euter's 6ulte/ Investor site, which offers access to research reports produced by
financial research firms. +ome reports are free, but most re1uire a fee.
7homas 5egister, which provides listings of thousands of companies in a variety of
industries for free.
#ahoo8 .inance, which has everything from up-to-the-minute mar$et summaries to
stoc$ research to financial news, and much of it's free.
*senet groups for a particular industry can also be a great source of information. 7o
find these groups, chec$ out http&99groups.google.com.
:lso, don't forget to regularly chec$ the national newswires and the press release
newswires--%5;ewswire.com and )usinesswire.com. :lso, regularly chec$ the sites of
your local chamber of commerce, )etter )usiness )ureau, federal and state
government, trade association, and trade magazines and newspapers.
.inally, ma$e sure to consistently chec$ the websites of your ma-or competitors,
suppliers and clients.
Related Articles
Competitive Intelligence on a +hoestring
Conducting +urveys and .ocus <roups
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