Business Intelligence
The term intelligence refers to the systematic collection, processing and analysis of raw and general information about the competitive business environment, and its presentation as a comprehensive picture to organizational decision-makers.
Organizations that use business intelligence services employ a methodical, logical and consistent procedure to monitor “public” information from the competitive environment and transform it into “organizational” information suited to organizational needs in order to maximize its strength.
Business intelligence enables the procurement of accurate current information in diverse areas pertinent to organizational activities, such as:
Potential competitors, Identification of business threats, New markets and new business opportunities, The activities and practices of new and veteran competitors, Products and technology, Existing or planned business ties of competitors, Competitors marketing strategies, Survey of competitors advertising campaigns and sales promotions.