ArchIntel, a market leader in open source daily intelligence, competitive intelligence reports and competitive intelligence events, has published its white paper, “Know Your Competition,” to analyze the state of open source competitive intelligence, as well as the current challenges and drivers of success related to the sector.
"The competitive intelligence toolbox of shared peer perspectives offers an organization the contextualization to drive success in an overwhelmingly competitive market," said Jim Garrettson, CEO of ArchIntel. "As much as competitive intelligence is driven by competition, it’s also driven by community and the highest possible standard of ethics."
ArchIntel’s report features insights from 38 competitive intelligence professionals across the private and public sectors, which were interviewed by the company, to deliver a comprehensive take on the practice.
"CI [is] about the overall market, knowing how solutions are being provided and finding where the gaps are and what the trends will be," noted Anthony Verna, senior vice president of strategy and business development at Cubic's missions solutions unit.
“Know Your Competition” addressed big data, and "big change," as the top factors affecting competitive intelligence, which is a critical component to identify business opportunities and secure new opportunities.
Jeremy Ross, vice president of business development and proposals at Trace Systems, noted that a smaller company's strategy should be informed by competitive intelligence. He added that it's the best practice when launching a business.
Verna, Ross and the other competitive intelligence executives were interviewed by ArchIntel as part of its Competitive Intelligence Spotlight series to gain their perspectives on opportunity analysis, customer need anticipation, database development and other key steps related to their respective competitive intelligence processes.