Frequently Asked Questions ("FAQs")

What is the Competitive Intelligence Center ("the CIC")?

The Competitive Intelligence Center is a portal dedicated to the systematic, legal and ethical collection of gathering, analyzing and publishing of competitive information. The goal of the CIC is to provide the community with a single place to obtain information, guidelines, tools and templates to conduct efficient competitive intelligence activites for a positive bottom line impact. Among the findings in a March 2002 Trendsetter Barometer survey from PricewaterhouseCoopers: Fast-growth CEOs who rated competitor information as being either "very" or "critically" important grew revenues by 14.2 %, versus 11.8% for all others -- a 20% faster rate. Significantly, those placing a premium on competitor information are outperforming their peers on sustained revenue growth, gross margins, and a number of other key performance measures.

What Is Competitive Intelligence?

According to the Society of Competitive Intelligence Professionals CI is:

"The legal collection and analysis of information regarding the capabilities, vulnerabilities, and intentions of business competitors, conducted by using information databases and other "open sources" and through ethical inquiry."

How will the Competitive Intelligence Center Help Me?

Access to tools, links information and downloads to guide CI users and help increasing productivity and knowledge about Competitive Intelligence activities to provide a greater impact on your organization's startegic comfort level and decision making prowess. CI adds value to information gathering and strategic planning activities by introducing a disciplined system not only to gather information, but also to perform analysis and disseminate findings tailored to the needs of decision makers.

Why is Competitive Intelligence (CI) So Critical?

Competitive intelligence has become an increasingly important function in the corporate world. Advancements in technology, the rapid emergence of a new breed of competitors, and changes in the economy all have lead companies to acknowledge the need for a systematic means to proactively gather and share Competitive Intelligence (CI). In a 2002 survey published by the Fuld-Gilad-Herring Academy of Competitive Intelligence, most company's are unprepared for increased industry risk. Among the survey's findings:

• Over 77% of managers believe that they will face and increased business risk over the next 2-3 years.
• Nearly half forsee major competitive threats from competitors introducing a proprietary or breakthrough product or service or an alternative technology replacing the need for their company offering.
• Only 5.4% consider their management proactive in responding to industry shifts with over half finding their management' either slow to react or gripped with analysis paralysis (see Factiva).

What is the CIC focused on since Competitive Intelligence is such a Broad Subject?

The Competitive Intelligence Center is focused on providing quick access to online sources of intelligence and leveraging the most popular CI tools: performing competitive reviews and SWOT analysis.

Is CI truly valued in the business community?

The March 25, 2002 online edition of Time magazine looked at how, post-9/11, executives are demanding better information not only about security risks, but about threats to their competitive edge as well. - From the Society of Competitive Intelligence Professionals.

How large is the CI market?

The market for business intelligence is worth about $2 billion a year worldwide, including services ranging from detailed investigations to clipping news articles, according to Kroll Inc. (as reported by Reuters on Sept. 2, 2001). In a survey of SCIP members, over 25% said their company's total CI spending in 2000 topped $100,000. Almost 14% said their company spent over $500,000. - From the Society of Competitive Intelligence Professionals.

How many firms have formal CI systems?

According to a survey by researchers at The Futures Group, in 1997 a full 82% of companies with annual revenues over $10 billion had an organized system for collecting information on rivals, while 60% of all surveyed U.S. companies had an organized intelligence system (up from 58% two years earlier).- From the Society of Competitive Intelligence Professionals.

If you have any suggestions, comments or questions, please contact The Competitive Intelligence Center.