Introduction to Competitive Intelligence

INTRODUCTION TO COMPETITIVE INTELLIGENCE

GIA WHITE PAPER 1/2004 Executive Summary

Competitive intelligence can be defined as The intelligence terminology has always been knowledge and foreknowledge about the somewhat blurred, and new terms emerge as the external operating environment. The ultimate intelligence discipline matures within the corporate goal of each intelligence process is to facilitate setting. decision-making that leads to action. • Competitive Intelligence, Successful business strategy requires awareness • Business Intelligence, about the company’s external environment, • Market Intelligence and including its customers, competitors, industry • Corporate Intelligence structure, competitive forces etc. Information about these issues is the key target of competitive are often used interchangeably or as synonyms, intelligence. Competitive intelligence can be while defined as knowledge and foreknowledge about the external operating environment. The ultimate • Strategic Intelligence, goal of each intelligence process is to facilitate • Customer Intelligence, decision-making that leads to action. • Competitor Intelligence and • Technology Intelligence The intelligence process enables turning information into intelligence by processing it via analysis, add a dimension of specificity to the subject. interpretation and synthesis and utilizing it in the Eventually, all intelligence terms refer to using future-oriented decision-making. Managing the systematic methods to collect, analyze and future does not only mean being able to anticipate disseminate information that supports decision- what will happen outside the company but also making. being able to shape the happenings through own actions, i.e. to proactively create one’s future. According to one of the views, Competitive Intelligence (CI) is regarded as the broadest Competitive Intelligence is not market research scope of intelligence activities covering the whole or industrial espionage. While market research external operating environment of the company often focuses on fulfilling a specific information and targeting all levels of decision-making, i.e. need or set of needs, intelligence is a completely strategic, tactical and operative. At the same time, legal ongoing process of developing a holistic it should be emphasized that the key goal of CI is to picture of the operating environment including facilitate more effective strategic planning and, as competitors, customers and markets. An effective such, it’s one of the most important strategic tools intelligence process continuously contributes to that management possesses. an organization’s knowledge base and leads to cumulative organizational learning.

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GIA White Paper 1/2004 Introduction to Competitive Intelligence 1. Deﬁnition of Competitive Intelligence

Herring (1992) identifies two categories of (Figure 1). Going up the pyramid we move from information needed for business strategy quantity (huge amounts of data and information formulation: available to everyone) to quality (intelligence leading to specific decisions and actions which • information about the company’s own can ensure competitive advantage). resources and capabilities, and • information about the company’s external This difference is noted also by Kahaner (1996, 20- environment. 21) who argues that while information is factual, consisting of numbers, statistics and scattered The latter (information related to customers, bits of data, intelligence, on the contrary, is a competitors, industry structure and competitive collection of pieces of information that have been forces) shapes the industry and is the target of filtered, distilled and analyzed. In other words, every Competitive Intelligence process. the purpose of the intelligence production is to put the fragments of information into a coherent Sawka (1996) defines Competitive Intelligence as puzzle, a picture of the forthcoming future. The knowledge and foreknowledge about the external essential notion, again, is that information is operating environment. He considers CI a prelude turned into something that can be acted upon. to informed decision-making, and further argues that intelligence can be viewed as actionable information about a customer, market situation, regulator, competitor or any other external Intelligence is the lifeblood of influence. The information is made actionable strategy. through careful analysis and interpretation, which turns it into intelligence.

The notion of actionable information is essential This view is supported by Taylor & Farrell (1994, in the context of Competitive Intelligence. The 95) according to whom transforming information ultimate goal of each intelligence process should into intelligence calls for intellectual activity be to facilitate decision-making that leads to such as analysis, interpretation and synthesis action. Therefore, information not leading to into a form easily digestible for the users. It also intelligence that can be acted upon is useless involves forecasts and opinions about the future and should be eliminated over the course of the instead of just observations about historical and intelligence process before reaching the decision- present situations, i.e. differently from ‘traditional’ maker. analysis, it is not about what happened, but about what is going to happen. It is characteristic for today’s intelligent companies to seek, process and use information Differently from rather common misunderstanding, about their outside environment to manage their Competitive intelligence is not market research, future (McGonagle & Vella 1996, 9). What turns nor is it industrial espionage. It is a completely information into intelligence, according to the legal and increasingly essential element in the above deﬁnition, is processing it into forecasts formulation of corporate competitive strategy. It and utilizing it in future-oriented decision- provides the decision-maker with invaluable insight making. Hence, managing the future does not into the competitor’s capabilities and intentions. only mean being able to anticipate what will Furthermore, it serves as an early warning of future happen outside the company but also being able events, which may have an impact on company to shape the happenings through own actions, i.e. performance. Bernhardt who calls intelligence “the to proactively create one’s future. lifeblood of strategy” takes the idea of essential and vital intelligence even further. He argues that In other words, although information and a strategy without intelligence is not strategy, it is intelligence are sometimes used as synonyms, they merely guessing. Meanwhile intelligence is about are at different levels of the ‘intelligence pyramid’ ‘guessing right’.

GIA White Paper 1/2004 Introduction to Competitive Intelligence While market research often focuses on fulfilling Competitive Intelligence has always been part a specific information need or set of needs, of the competitive corporate world. Corporate intelligence is an ongoing process of developing executives are particularly interested in marketing a holistic picture of the operating environment data, competitor financials and industry trends in including competitors, customers and markets. their effort to better position their own company in Thus, an effective intelligence process continuously the marketplace. Competitive Intelligence can also contributes to an organization’s knowledge base reveal weaknesses in the company’s own security and leads to cumulative organizational learning. operation and help protect itself against industrial espionage, fraud and other similar threats (ibid.).

Distilled, Integrated Intelligence Information Knowledge

Information

Random, Data Dispersed

Figure 1. The Intelligence Pyramid

GIA White Paper 1/2004 Introduction to Competitive Intelligence 2. Levels and Terminology of Competitive Intelligence

use typically originates from the subject area Eventually, all intelligence where intelligence procedures are being applied. terms refer to using systematic Competitive Intelligence, Business Intelligence, methods to collect, analyze and Market Intelligence and Corporate Intelligence are disseminate information that often used interchangeably or as synonyms, while supports decision-making. Strategic Intelligence, Customer Intelligence, Competitor Intelligence and Technology Intelligence add a dimension of speciﬁcity to the The intelligence terminology has always been subject. Eventually, all intelligence terms refer to somewhat blurred, and new terms emerge as using systematic methods to collect, analyze and the intelligence discipline matures within the disseminate information that supports decision- corporate setting. Generally speaking, the making (Gilad, 1997, ref. Calof 1997; Ettorre, exact term that each organization prefers to 1995).

Corporate Investor Marketing & Sales: Planning & Relations: Market & Product Business Peer Group Intelligence Development: Intelligence Strategic Intelligence

Trends and Themes Business Environment Trends and Critical Themes CRM: Customer Intelligence Industries Supplier Customer Industry Industry Industry Scope Intelligence Corporate Intelligence Intelligence Communications: Media Intelligence

Companies Supplier Competitor Customer Intelligence Intelligence Intelligence gion Re

Interest Groups and Other Market Players Market R&D: Technology Intelligence Value Chain Dimension

Sourcing: Supplier All decision makers: Intelligence Current awareness

Figure 2. The Scope of Competitive Intelligence

GIA White Paper 1/2004 Introduction to Competitive Intelligence The Society of Competitive Intelligence According to Bernhardt (1994), Competitive Professionals (SCIP), an ofﬁcial US-based Intelligence increases management’s understanding intelligence organization, deﬁnes Competitive of the strengths and weaknesses of competitors. Intelligence as “Timely and fact-based data on which management may rely in decision-making and strategy development. It is carried out through The goal of CI is to facilitate industry analysis, which means understanding the more effective strategic planning players in an industry; competitive analysis, which means understanding the strengths and weaknesses and, as such, it’s one of the most of competitors; and benchmarking i.e. the analysis important strategic tools that of individual business processes of competitors” management possesses. (Calof, 1997).

Gelb & Zinkhan (1985) discuss Competitive McGonagle & Vella (1996) have introduced a concept Intelligence with an emphasis on competitors. called Cyber IntelligenceTM, which encompasses They separate defensive intelligence from offensive Competitive Intelligence, Strategic Intelligence, intelligence, both of which refer to rivalry Market Intelligence and Counterintelligence. between companies. By defensive intelligence, In addition, the authors include such areas as companies strive to learn about competitors’ crisis management, benchmarking and reverse plans for new products, product features, price engineering. changes etc. and prepare for the realization of these measures. Offensive intelligence, in turn, focuses on identifying competitors’ weaknesses and equipping a company with strategies to attack these weaknesses.

Strategic Level Strategic Intelligence Levels Competitive Level Competitive Intelligence

Market Market Level Intelligence

Events Past Present Future Figure 3. Strategic Intelligence is seen as the broadest scope of intelligence activities covering the whole external operating environment of the company and targeting all levels of decision-making, i.e. strategic, tactical and operative.

As it can be seen from the above review of different of contents (i.e. elements, see Chapter 3) as well views, the terminology and scope of Competitive as the decision-making level(s) it is primarily Intelligence efforts in organizations should be intended to serve. determined on a case-by-case basis both in terms

GIA White Paper 1/2004 Introduction to Competitive Intelligence 3. Elements of Competitive Intelligence

In order to target intelligence efforts in a technologies, customers, competitors, and coordinated way, it is feasible to divide the ﬁeld broad social trends. A simpler and rather typical of Competitive Intelligence into elements that approach is to divide Competitive Intelligence into correspond to the company’s business information competitor intelligence, customer intelligence and needs. This way, Competitive Intelligence efforts market intelligence. An extension to this view is to can be ﬁrst targeted at the most critical elements, divide market intelligence into smaller components while development regarding less critical elements such as industry / product intelligence and can be started in later phases. country intelligence. In some cases, supplier or partner intelligence is brought in as an additional category.

The elements of Competitive According to Novintel, the field of Competitive Intelligence reflect strongly Intelligence can be divided into eight Competitive the categorization of business Intelligence elements, which can be visualized in information types. a three-dimensional matrix as depicted in Figure 4. The horizontal axis reflects the industry value chain, while the vertical axis in the matrix determines the scope of the Competitive Intelligence operations, i.e. whether the focus is on companies, industries For instance, Ghoshal and Kim (1986) divide or general trends prevailing in the business Competitive Intelligence into the collection environment. Finally, the third axis highlights the and analysis of information on markets, new geographical dimension of business information.

Trends and Themes Business Environment Trends and Critical Themes

Industries Supplier Customer Industry Industry Industry Scope Intelligence Intelligence Intelligence

Companies Supplier Competitor Customer Intelligence Intelligence Intelligence gion Re

Interest Groups and Other Market Players Market

Value Chain Dimension

Figure 4. Competitive Intelligence Elements

GIA White Paper 1/2004 Introduction to Competitive Intelligence While most of the elements concentrate on one information may be needed on previous stages, part of the value chain, the category “General Trend starting from raw material extraction. On the Intelligence” includes business information types customer side, it may be necessary to consider end- and themes along the whole length of the value user segments as the ultimate business drivers. Yet chain. Examples of these include environmental another dimension to consider is intelligence about issues, political environment and general business end-users. On the other hand, an organization trends such as the impact of industry consolidation may trust that its customers have taken their own on the value chain. Similarly, the category customers into account when making operative “Interest Group Intelligence” covers companies business decisions. Thus, sophisticated customer that don’t belong to the company’s value chain but intelligence will likely bring in good intelligence are strongly linked with it. Examples of interest about the end-customers as well. groups are partners, owners, research companies, regulative bodies and academia. The matrix framework is useful when considering target areas for a company’s Competitive In this general categorization, the value chain Intelligence development. However, the presented only includes three nodes but it can naturally framework is very generic and it should always be be extended at both ends. On the supplier side, adapted to each company’s speciﬁc requirements.

GIA White Paper 1/2004 Introduction to Competitive Intelligence 4. Competitive Intelligence Cycle

The core of any intelligence system in a company useful to discuss each phase in more detail. is an intelligence cycle (Kahaner 1996, 43). In discussing the transformation of data and According to Sawka (1996), deﬁning the information into actionable intelligence, a process intelligence needs is an absolute prerequisite that perspective is useful given that a continuous chain ensures management will be fully engaged in the of action is required. The process, usually called process. Before any data or information is collected, the Competitive Intelligence cycle, begins with the strategically relevant needs of all intelligence determining the intelligence needs. users must be articulated (Bernhardt, 1994), preferably through direct communication between decision-makers and intelligence professionals. Companies are encouraged to adopt Direct contact is important because intelligence the classical four-step intelligence users may have difﬁculty in expressing their needs and prior knowledge due to its tacit nature. The cycle used by the U.S. Central role of need determination has become extremely Intelligence Agency (CIA) and other important especially in the era of an expanding national security organizations information overload. Asking the right questions throughout the world. (‘what do we need to know’) at the beginning of the cycle helps to ensure that the produced intelligence is used by decision-makers.

The cycle includes setting goals, obtaining data, Effective intelligence processes set the intelligence comparing information from different sources and customers, i.e. the users, as the starting point for estimating possible future developments. Finally, the entire function. The users are given intelligence the results have to be utilized in a timely fashion. they require, analyzed to a level that serves them best, and delivered in a form they desire (ibid.). Bernhardt (1994) introduces a Competitive Intelligence cycle with five phases: planning and Numerous sources need to be continuously direction, collection, processing, analysis and monitored in order to find the appropriate material. production and, finally, dissemination. In his Monitoring can be seen as continuous surveillance model, adapted from the CIA, the author includes of formal and informal sources, whereas the actual need determination in planning and direction. collection calls for a more specified need. On the The collection phase is followed by processing, other hand, active monitoring is also likely to which in Berhardt’s model refers to computerized create new needs. activity. In practice, monitoring and collection are Kahaner (1996, 44) describes only four phases: overlapping phases in the intelligence cycle. The planning and direction, collection, analysis and needed information calls for active gathering dissemination. In this context, too, all the start- measures often implemented by a corporate library up activities, including need determination, belong function, especially in the case of using external under the planning and direction phase. sources. The role of human intelligence, i.e. intelligence that is not documented but possessed McGonagle & Vella (1996) also discuss a four-stage by individual employees, is also significant. cycle starting with establishing the intelligence needs. The required information then has to be It is argued that human intelligence, collected and analyzed. The authors incorporate also referred to as “tacit knowledge”, preparing, presenting and utilizing the intelligence seems to set organizations apart into the final stage in the cycle. Obviously, there are separate, yet interrelated stages regarding their intelligence in the intelligence process. Some of the phases can capabilities and, eventually, be further divided into more specific phases. From competitiveness. both theoretical and practical perspectives, it is

GIA White Paper 1/2004 Introduction to Competitive Intelligence The gathering phase also requires processing the information so that it can be transmitted Most decision-makers seem to prefer and stored, and that electronically stored a timely answer to a totally accurate information can then easily be reformatted into answer. It is argued that only 70 a form conducive to analysis (Kahaner 1996, percent of the delivered intelligence 44). Bernhardt (1994) also stresses the role of needs to be totally accurate if it is processing between collection and analysis. The gathered information calls for structuring and delivered on time. elimination before the actual analysis. Despite a thorough need determination, it is highly possible that irrelevant information will also be gathered Although modern technical tools such as intranets when monitoring the environment, considering are extremely useful in disseminating timely the recent information overload phenomenon. intelligence, other means of communication are Therefore, the role of systematic elimination is needed as well. It is typical that the intelligence considered a significant element of an information function developers today eagerly employ new system so that only relevant material qualifies for technological solutions. However, as intelligence analysis. is a human process, human interaction is an essential part of disseminating it. Hence, various The information gathered requires analysis that means of communication such as telephones, results in reasoned judgments and conclusions faxes, oral presentations and meetings (especially (Sawka 1996). It is through analysis that intelligence with the key decision-makers) are also considered activity is actually tied to executive decision- significant in disseminating intelligence. making. This is the phase where information will be transformed into more actionable form. Analysis The processed and communicated intelligence is the most challenging stage in the intelligence needs to be adequately stored. The role of process, as it requires great skills to evaluate the modern technology is increasingly important in information, look for patterns and come up with storing intelligence. It is essential to guarantee scenarios. Analysis however, cannot always be that intelligence is easily available for further based on logical reasoning alone; it must involve reference. Top-ranking professionals in particular educated guessing as well. For example, Langabeer seem to appreciate easy access to both current and (1999) emphasizes the value adding role of CI, past intelligence. In the storing stage it is also focusing on the four key ‘I’ variables crucial to essential to consider safety issues so that valuable effective analysis: Information, Impression, Insight intelligence will not flow into the hands of those and Interpretation. This is particularly true when that it does not concern. Not everybody needs analyzing strategic information which requires to know about the intelligence behind strategic future-oriented estimates (Kahaner 1996, 44). issues.

The value adding role of analysis in the intelligence The final stage of the intelligence cycle is the process is highlighted by Bernhardt (1994) who utilization of the processed information, which in stresses that it is the options and recommendations turn will lead to determination of new needs. Gilad emerging from the analysis that facilitate senior (1989) identifies five basic targets for utilization: managers’ strategic decision-making. identifying new business opportunities, sharing ideas, improving the organization’s ability to When the relevant information has been thoroughly anticipate surprises, improving managers’ analytical analyzed, it needs to be disseminated to users. skills and integrating diverse ideas. The role of the dissemination phase is to ensure that the right people receive the right intelligence Referring to a study involving 20 U.S. top-managers, at the right time. Dissemination is an extremely Gelb et al. (1995?) argue that intelligence is mainly significant part of the intelligence cycle as the used for improving corporate processes, decision basis of the entire function may be eroded if the making and overall performance of managers. intelligence product is delivered too late. The Secondly, problems and opportunities are better decisions have to be made and actions taken before anticipated through adequate intelligence activity. an anticipated situation will occur. Moreover, intelligence processes help companies understand how they are performing relative to immediate competition and to plan accordingly.

GIA White Paper 1/2004 Introduction to Competitive Intelligence Effectiveness of the utilization phase is highly level, the more sophisticated the processing and dependent on the successful implementation of the analysis required. earlier phases. First, if the needs are not carefully determined, the usefulness of the intelligence is The intelligence cycle refers to what Prescott (1995) clearly low. Second, if not thoroughly analyzed, calls the “doing” of intelligence. He separates the gathered information might not meet the “managing” intelligence - which mainly includes requirements of the decision-makers. Timeliness stipulating the intelligence mission, structuring is guaranteed through smooth dissemination. the intelligence unit and deﬁning characteristics Intelligence delivered too late will not likely lead of the intelligence staff, etc. - from the rest of the to correct actions no matter if thoroughly intelligence activities in the cycle. It is suggested analyzed or not. that managerial input, i.e. adequate planning and direction, is needed in order to initialize the cycle In addition to the time horizon of an intelligence and then keep it functional. This applies to the cycle, the processing and analyzing requirements whole intelligence cycle but is especially important may also change depending on the level of decision- in the need determination phase. making involved. The higher the decision-making

1. Need 8. Utilization Analysis & Feedback

2. Observing & Monitoring

7. Storing

3. Collection from external and internal sources

6. Dissemination

4. Structing & Elimination 5. Analysis

Figure 5. The Intelligence Cycle

GIA White Paper 1/2004 Introduction to Competitive Intelligence 5. Conclusion

Competitive intelligence is not market research, making and strategy development. It is carried nor is it industrial espionage. It is a completely out through industry analysis, which means legal and increasingly essential element in the understanding the players in an industry; formulation of corporate competitive strategy competitive analysis, which means understanding which provides the decision-maker with invaluable the strengths and weaknesses of competitors; insight into the competitor’s capabilities and and benchmarking, i.e. the analysis of individual intentions. It serves as an early warning of future business processes of competitors”. events, which may have an impact on company performance. In discussing the transformation of data and information into actionable intelligence, a While market research often focuses on fulfilling process perspective is useful given that a a specific information need or set of needs, continuous chain of action is required. It can be intelligence is an ongoing process of developing argued that the core of any intelligence system in a holistic picture of the operating environment a company is an intelligence process or cycle. The including competitors, customers and markets. key stages of this An effective intelligence process continuously cycle are: contributes to an organization’s knowledge base and leads to cumulative organizational learning. • definition of the intelligence needs; • collection of information and continuous Although the terminology and scope of monitoring of various sources; Competitive Intelligence efforts in organizations • processing the collected information; should be determined on a case-by-case basis • analysis; both in terms of contents and the decision- • dissemination and storage; making level(s) it is primarily intended to serve, • utilization. a useful definition of CI was offered by SCIP. According to this organization, Competitive The managerial input, i.e. adequate planning and Intelligence is a “timely and fact-based data direction, is essential in order to initialize the on which management may rely in decision- cycle and then keep it functional.

GIA White Paper 1/2004 Introduction to Competitive Intelligence References

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GIA White Paper 1/2004 Introduction to Competitive Intelligence About the GIA

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