Tips

Competitors’ surveillance is one of the main focuses of Competitive Intelligence and, in most cases, one of the essential. Monitoring the movements of our competitors can help us to identify opportunities and threats, to anticipate movements of competition, to identify patterns of behavior, to redefine our value proposition, to modify or improve our products, etc. However, it is sometimes difficult to find information of interest, because our competitors are not big companies or are not very active on the Internet, so we offer some guidelines that can help you:

In INNGUMA we like to say that Competitive Intelligence is like a flower or a bonsai: it can give us many joys but it is delicate and requires constant care. Launching Competitive Intelligence activity and leaving it to its fate, without proper supervision and review, leads to failure inevitably. Therefore, in this article we describe some tasks (some specific and other periodicals) to be performed for the Competitive Intelligence system to work properly so we can benefit from the advantages it offers.

When talking about Competitive Intelligence, monitoring sources of macroeconomic data is often left in the background, as the information provided is sometimes too far from the scope of work of the organizations. Still, it´s interesting (and sometimes necessary) to monitor these sources as they can provide very important information that helps making strategic decisions, such as opening new markets, relocation of production, changes in providers, etc. We present our favorite macroeconomic information sources:

It is very common that, when starting a Competitive Intelligence project, analysts wonder where can get new information sources to supplement those they know. The search for information sources is sometimes a thankless task, since it is difficult to find high quality results, although it may significantly improve the received information. There is no magic formula that will guarantee the best sources, although there are some good recommendations to follow:

Nowadays, with the exponential growth of internet, there is huge quantity of information available online. Having a specific Competitive Intelligence tool like INNGUMA is helpful for the CI analysts, but there are other useful tools that help working with the received information and that every analyst should know:

If you are looking for expanding your business opportunities, we will show you the main benefits and advantages of the continuous monitoring of public tenders.

Public tenders are a source as a lot of information which not only do they serve to identify new opportunities, but also to improve to meet the needs of your potential customers and the market itself. Public tenders contain valuable and detailed information about customers but also information about competitors who are participating in the contest. Knowing the details about the technical and economic characteristics of the contracts or information about the solutions proposed by competitors provides a more detailed, real and close to the market vision.