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An internal competitive intelligence (CI) function enables more effective identification of and response to market trends and competitor threats, but your current capabilities may be weaker than you realize. An internal assessment can identify areas for improvement to help you better meet your strategic goals.

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An internal competitive intelligence functionality is extremely valuable in today’s rapidly shifting economic environment, providing actionable competitor, consumer, and market intelligence to help key decision-makers act faster and with greater confidence. Many CI functions, however, have one or more fundamental weaknesses that prevent internal users from leveraging intelligence to its full potential. Corporate inertia or internal culture often prevents these gaps from being tackled.

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An honest assessment of existing capabilities is beneficial for many reasons, including:

  • Assessing where corporate “blind spots” exist within the collection or analysis framework;
  • Identifying high-impact areas for strategic investments to close blind spots;
  • Understanding what you can expect to achieve within resource constraints, and at what cost and/or level of effort; and
  • Providing the initial information to design a change plan for competitive intelligence optimization.

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Implemented together, these steps will allow your CI team to collect information more efficiently and more effectively. You will see begin to see improvements in the quality of your strategic insights and become more comfortable assessing and optimizing internal processes for ongoing benefit.

Determining the profile that best matches your organization today provides a benchmark on which to base your next steps as you seek to expand and refine your internal CI functionality. In many cases, partnering with an independent third-party like Cipher can have a positive impact on your efforts to drive institutional change. Cipher’s team of experienced consultants can provide objective guidance on establishing a CI functionality, refining goals and techniques, coordinating for enterprise benefit, and developing a strategic orientation to support enterprise goals.

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