Is competitive intelligence a good career?

Is competitive intelligence a good career? Between the years 2018 and 2028, the competitive intelligence analyst career is expected to grow 10%, making this career a wise investment in your future. Industries continue to become

Is competitive intelligence a good career?

Between the years 2018 and 2028, the competitive intelligence analyst career is expected to grow 10%, making this career a wise investment in your future. Industries continue to become more competitive, with the average company reporting a higher number of competitors over the last several years.

What are the benefits of competitive intelligence?

What Are the Benefits of Competitive Intelligence?

  • Glean Competitive Insights.
  • Track Industry Trends and Predict Future Moves.
  • Improves Decision-Making ROI.
  • Boost Product and Service Speeds-to-Market.
  • Predict Competitions’ Behaviors.
  • Make Business Decisions With Confidence.

How do we apply competitive intelligence?

Competitive intelligence involves a lot of predicting and guessing. By developing a strategy to follow, you’ll put yourself in a better position to understand what you need to know, and how you should use that knowledge. Being proactive, rather than reactive, is what will keep you ahead of the game.

What is the scope of competitive intelligence?

Competitive intelligence, sometimes referred to as corporate intelligence, refers to the ability to gather, analyze, and use information collected on competitors, customers, and other market factors that contribute to a business’s competitive advantage.

How much do competitive intelligence analysts make?

The average salary for the role of Competitive Intelligence Analyst is in United States is $80,000. This salary is based on 39 salaries submitted by LinkedIn members who have the title “Competitive Intelligence Analyst” in United States.

What do competitive intelligence analysts do?

Competitive intelligence analysts are responsible for helping their organization or company make effective decisions about future actions. They do this by gathering relevant data to determine the likely course of action that others will take.

What is competitive intelligence example?

EXAMPLES. Examples of competitive intelligence include stock traders who analyze the data on prices and price movements to determine the best investments. These stock traders have the same data as other traders, but analysis of the data separates them from others.

What is a competitive intelligence analyst?

Competitive intelligence analysts are responsible for monitoring and reporting on industry and technical developments. They combine research and analytical skills to predict the likely actions of competitors and model scenarios based on possible different options undertaken by competitors.

What does a competitive intelligence manager do?

A competitive intelligence manager gathers, analyzes and distributes intelligence on products, market conditions, competitors and customers for business decision-making.

Is Competitive Intelligence legal?

Key points: Competitive intelligence is a legal business practice, as opposed to industrial espionage, which is illegal. The focus is on the external business environment. There is a process involved in gathering information, converting it into intelligence and then using it in decision making.

How to use competitive intelligence to gain an advantage?

Encourage staff members to gather competitive information as they interact with people outside the company. Salespeople, for example, talk to customers, who talk to competitors. Human resources staff members interview job candidates, who work or may have worked for rival firms.

Why is smart intelligence important to your business?

A smart intelligence operation can serve as an early-warning system for disruptive changes in the competitive landscape, whether that change is a rival’s new product or pricing strategy or the entrance of an unexpected player into your market.

Can a hedge fund do competitive intelligence work?

Hedge funds and large corporations regularly contract out competitive intelligence work, often paying top dollar to the private investigators and former intelligence agents who ply the trade. But there are plenty of ways to perform competitive intelligence on a budget.

Where did Mikal Lewis get his competitive intelligence?

Mikal Lewis has an M.B.A. from Florida A&M and spent four years at Microsoft working in product planning and strategy. But the way the Seattle entrepreneur sees it, the most valuable business training he ever received was a two-week course he took at the Academy of Competitive Intelligence in Cambridge, Massachusetts, in 2007.