What is a business intelligence strategy

This was because you had already collected and stored this information beforehand. So if you are going to launch a pricing or incentive scheme of your own, you knew what was the scheme launched by your competitors. It is a better form of Intelligence because this passive intelligence might come in use later.

Passive intelligence вЂ“ Passive competitive intelligence is when you collect information from the market on competition, irrespective of whether it is going to come in use or not. So it should not happen, that you are launching a new product, but you find out that another competitor has already launched before you.ДЄnd you find this out at the last moment!! Thus, to avoid such mishaps, you keep a defensive intelligence and analyse the competition when you are about to do something new. You use this intelligence to thwart the competitor in his plans and to implement plans of your own so as to beat them at their own game.Дefensive intelligence вЂ“ This type of intelligence is covered mainly to ensure that you are not discovered off balance or off-hand. Instead, you proactively collect intelligence on them. You do not sit back and analyse the competition. He will do that swiftly.Д¬ompetitive intelligence, as the name suggests, goes beyond the normal analysis of your competitors. If you are concentrating only on your own business, and ignoring the competition, you never know when he will cover the ground you were in.

If he does so, he will suffer a painful defeat and so it is in Business. Neither does he plan his own battles without considering the enemy.

He then plans his own strategy as per the movement of the enemy.ДЄ general does not send his soldiers blindly to the battlefield. Whenever a general goes at war, he collects Enemy movements beforehand through his spies or his observers. He has to fight a battle with the enemy and win over the ground with the number of soldiers he has with him. For a moment, think about a general whose nation is at war.

What is a business intelligence strategy