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Competitive Intelligence: Processes to Produce Insights that Matter
Date:1/24/2008

CHAPEL HILL, N.C., Jan. 24 /PRNewswire/ -- Competitive Intelligence groups have a tough job. Trying to protect products nearing patent expiration, staving off competitors trying to capture a portion of an eroding market share or just trying to keep track of corporate rivals, all the while providing customized deliverables to various internal executives. It is clear from research studies that certain CI groups are better structured, staffed and managed to identify, shape and deliver the insights that matter to their leaders.

Indeed, no matter the industry, companies that excel at CI have learned to apply established best practices to their structure, reporting relationships, collection tools, analytical techniques, and CI competency skill set to beat out the competition.

Specific best practices are revealed in Managing the Competition: Turning Competitive Intelligence into Strategy, a compelling benchmarking study conducted by Best Practices, LLC.

Download a complimentary study excerpt at http://www3.best-in-class.com/rr904.htm . The study presents provocative sharing compiled from surveys and in-depth interviews with 29 top CI executives at such world-class companies as AstraZeneca, IBM, Merck, GlaxoSmithKline, Kodak, Eli Lilly and Abbott Labs.

A brief sampling of harvested insights and best practices include:

-- One benchmarked executive explains that CI analysts at his

organization must develop executive recommendations beyond pure data

analysis. This kind of accountability led to more empowerment of the

CI team as company members are more likely to use competitive

information if it is readily available.

-- Another company improved its performance around timeliness,

communication, flexibility and other metrics through electronic

feedback forms that are completed by internal customers. The forms

produce ratings for the CI team members and provide information for

annual performance reviews.

-- Another company measures return on CI investment by tracking

corporate savings derived from strategic decisions informed by CI

recommendations. The CI group uses the measurements to gain continued

support and to build resources.

For more information, download a complimentary excerpt of this benchmarking report, Managing the Competition: Turning Competitive Intelligence into Strategy, at http://www3.best-in-class.com/rr904.htm .

If you have questions about this report or would like to speak to us about how our research can benefit your Competitive Intelligence organization or other corporate initiatives, please contact Cameron Tew, Senior Manager of Research and Publishing at Best Practices, LLC at (919) 767-9246 or ctew@best-in-class.com.

BEST PRACTICES, LLC is a research and consulting firm that conducts work based on the principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics, and winning strategies of world-class companies. For more information, call (919) 403-0251 or visit http://www3.best-in-class.com/ .


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SOURCE Best Practices, LLC
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