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What Is Competitive Intelligence?

What Is Competitive Intelligence? | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

Wondering how competitive analysis can help your business succeed and grow? We've got an overview of what it is (and what it isn't) insideIf you’re invested in a business, you know full well that you do not exist in a vacuum. In fact, you’re probably infinitely aware of your competitors’ existence. This is all part of the business. Competitive intelligence is the portion of market research where you take the time to look at what your competitors are doing and how they’re achieving their own goals.

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Data Does Not Equal Intelligence: Predictive Analytics in the Enterprise

Modern enterprises run on data. However, much to some executives’ surprise, data itself is incapable of solving business problems. All the bits of information your teams collect are worthless when it comes to improving supply chain processes, fine-tuning marketing campaigns, closing deals or meeting any number of other business challenges, if you don’t understand how to create intelligence from it. To make the most of the influx of data coming into your company, you need to know the difference between data, intelligence and insight, as well as how to apply all three to predictive analytics. Here’s a break down of where data, intelligence and insight differ, and how they build upon each other:

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General Motors Reveals How It Keeps Tabs On The Competition: Video - GM Authority (blog)

General Motors Reveals How It Keeps Tabs On The Competition: Video - GM Authority (blog) | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

It's sort of like putting a puzzle together. Automakers aren’t spies. And General Motors’ Adam Bernard, associate director of competitive intelligence, states that quickly. Though, it’s essential to keep up-to-date on the who’s-who, and what’s new in an industry like the automotive arena. Autoline invited Bernard, as well as Joe McCabe of AutoForecast, and Michael Omotoso from Eaton to sit down and see what it takes to stay competitive in the automotive industry, and how OEMs piece the puzzle together on what the next big thing might be.

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How companies can adapt to climate change | McKinsey & Company

How companies can adapt to climate change | McKinsey & Company | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

Taking effective action can turn risk into competitive advantage. Today concerns over climate change are taking this to a whole new level, and companies will have to adapt to growing regulatory, environmental, and consumer pressures. This is a daunting prospect. That may explain why, in a survey of S&P Global 100 companies by the Center for Climate and Energy Solutions, only 28 percent said they had done climate assessments, and an even smaller number (18 percent) said they use climate-specific tools or models to assess their risks. But delay is not a strategy. Organizations can benefit by taking action to recognize and even anticipate such climate-related risks as changing government policies, product-preference shifts, and price volatility. There are, in broad terms, six different kinds of climate risks (Exhibit 1). These can be divided into two interconnected groups: value-chain risks and external-stakeholder risks.


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3 Ways Leaders Accidentally Undermine Their Teams’ Creativity

3 Ways Leaders Accidentally Undermine Their Teams’ Creativity | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it


There are a lot of myths and misconceptions about where creativity comes from and how to nurture and grow it in a team. As a result, even well-meaning leaders can end up killing the creativity of a team when they need it most. If your team is in the midst of solving a problem or generating a new product or project idea, you might be killing their creativity without even trying. Here are three of the most common things managers do that have deleterious effects:

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How to Break Through Deadlock on Your Team

How to Break Through Deadlock on Your Team | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

If your team deals with important issues and team members have strong views on those issues, you can end up in a deadlock. When that happens, people dig into their own preferred solutions, operating from a unilateral control mindset where everyone believes that he or she understands the situation and is right, and that those who disagree just don’t understand the situation and are wrong. When all team members are thinking and acting this way, it creates a vicious reinforcing cycle. The more people try to prevail, the more people stand their ground, and the less likely it is that the team will ultimately resolve anything. But there is a way to break through a team deadlock

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Psychologist reveals why making a pros-and-cons list is a bad idea

Tim Wilson, a psychology professor and the author of "Redirect: The Surprising New Science of Psychological Change," explains how making a pros and cons list can adversely affect decision-making.

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David Bell's curator insight, July 6, 5:17 PM

Worth watching for personal development

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The Condensed Guide to Running Meetings

The Condensed Guide to Running Meetings | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it


We love to hate meetings. And with good reason — they clog up our days, making it hard to get work done in the gaps, and so many feel like a waste of time. Can you really make meetings more effective and regain control of your calendar? Paul Axtell says that this is a major pain point for almost every manager he works with. “People are absolutely resigned. They have given up on the hope that it could be different. People are looking for tactics, tips, and gimmicky ideas and they don’t always work,” he says. I asked Axtell and Francesca Gino, a professor at Harvard Business School and the author of Sidetracked: Why Our Decisions Get Derailed, and How We Can Stick to the Plan whether much of the conventional wisdom holds true.

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John Ross Jesensky's curator insight, July 6, 11:52 AM

Great info on how not to waste time in meetings.

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How to Eliminate Time Wasting by Using the “Eisenhower Matrix”

How to Eliminate Time Wasting by Using the “Eisenhower Matrix” | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

Based on his insight as to the difference between urgent and important work, Eisenhower created a matrix to help him prioritize. Know as the Eisenhower matrix, the matrix is a powerful tool to help keep focused on important work. The Eisenhower matrix, as illustrated above, consists of four quadrants. The matrix is used to help you think though your priorities and determine which of your tasks are important and which are urgent. The matrix helps you to remain focused those tasks that contribute to the achievement of your long-term goals and helps you make effective use for your time. Let’s explore each quadrant in more detail.

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Drexel University College of Computing & Informatics

Drexel University College of Computing & Informatics | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

The College of Computing & Informatics (CCI) is the new focal point for Drexel's computing and information research and education. The combination of existing academic resources will create a College with considerable depth and breadth for addressing the opportunities and challenges of the information age. The College will also serve as a central hub for multi-disciplinary computing activities, which applications and utility span across a wide range of academic domains.  CCI combines the strengths and assets of many of Drexel's existing undergraduate, graduate, and professional computing and informatics programs. Specifically, the College combines The iSchool, The College of Information Science & Technology; the Department of Computer Science (from the College of Engineering); and the Computing and Security Technology program (formerly housed in the Goodwin College School of Technology and Professional Studies).

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Forget Link Building: Time to Embrace the Google Knowledge Vault

Forget Link Building: Time to Embrace the Google Knowledge Vault | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

Up until now, Google has seemed to operate as if it believes back link data is still the most viable way to ensure quality search results. Links are still a major part of the ranking algorithm, although recent algorithm changes—most notably Google’s 2013 Hummingbird update, which incorporated semantic understanding and contextual relevance (thus the emphasis on quality content) as means of determining search results (and by extension, rankings)—have enabled Google to begin shifting from such external (exogenous) signals like hyperlink structure to internal (endogenous) signals like webpage content. In simpler terms, Google’s rapidly evolving AI search engine is giving the company the ability to replace its traditional hyperlink structure with factual accuracy as the principal means of determining a website/webpage’s trustworthiness and, by extension, relevance.

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The internet of things: mapping the value beyond the hype - McKinsey

This research is a collaboration between the McKinsey Global Institute and McKinsey’s telecommunications, Media, and High Technology Practice. It builds on more than five years of previous research as well as knowledge developed in work with clients across industries. Our goal has been to determine more clearly how IoT applications create value for companies, consumers, and economies. To distinguish between the hype and the reality, we focus on actual “use cases” that exist today or are likely to be implemented in the next 10 years. We also estimate potential value using a “settings” perspective—how IoT technology is used in physical environments such as cities or factories. This allows us to see how much additional value can be captured when IoT applications interact with one another and with other information systems.
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75% of the Information is All You Need to Make a Decision

75% of the Information is All You Need to Make a Decision | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it
You need information to take the risk out of decisions, but getting too much information - analysis paralysis - has a real cost. Most normal business decisions can be made with 75% of the available information, focused on the right issues.
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Marc Dimmick's curator insight, July 2, 8:31 PM

This works to the point that it does not need to be perfect to work.

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Social Networks and the Majority Illusion

Social Networks and the Majority Illusion | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

MIT Technology Review has a summary of a fascinating recent study on the behavior of networks, and how they can lie to us, or at least make it seem like a majority of people believe something is common when it is not actually the case. The study, conducted by Kristina Lerman and others at the University of Southern California, also provides insight into how some things can go viral and spread like wildfire while similar content or ideas can't seem to get off the ground. Basically, the study examined how ideas spread on networks with complex connections.

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Marc Wachtfogel, PhD's comment, July 1, 5:05 PM
Great article...thank you!
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Why It’s the Era of Yes in Analyzing Sales Opportunities

Why It’s the Era of Yes in Analyzing Sales Opportunities | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

But we also know that gathering cold, hard feedback from buyers and customers can be intimidating and leave our clients with a feeling of dread. What if there’s negative feedback that singles me out? Will I get reprimanded in front of my peers? Worse still, will I get fired. Sales teams are often the most resistant groups within organizations when new Win Loss programs are introduced. And that’s normal because sales teams expect most buyer feedback to be directed toward them. And usually it is.

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Infographic - Data Never Sleeps 2.0 | Domo

How much data is created on the web every minute? How about every day? Numbers don't do it justice, so we created an infographic to show the staggering amount of content created every sixty seconds from websites you use on a regular basis. The answers may surprise you.
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UK company information now free of charge

A year ago Companies House announced that they were going to make all of their company information available free of charge to everyone.

A new beta service at http://beta.companieshouse.gov.uk/ now enables you to search for companies by name or number and obtain free of charge:

  • Company overviews
  • Current and resigned officers
  • Document images
  • Mortgage charge data
  • Previous company names
  • Insolvency data
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What People Analytics Can’t Capture

What People Analytics Can’t Capture | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

Of course many businesses are reaping rewards from big data analytics. But there are also some areas of disappointment. Experts caution that big data, like any other, is only as good as the questions being asked – and that some algorithms can make unhelpful assumptions. There’s a saying in the sciences, “Statistics means never having to say you are certain.” In any massive data analysis, for instance, there will be random correlations that look “significant” but actually are noise, not signal.

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Which countries work the longest hours?

Which countries work the longest hours? | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

Germany has a reputation for efficiency and it seems it is well earned, with German workers spending the least amount of time in the workplace of all countries in the Organisation for Economic Cooperation and Development (OECD) during 2013. In terms of members of the European Union, the country at the other end of the scale was Greece, whose people worked an additional 700 hours over the course of the year compared to the average German.

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Guillermo Meza's curator insight, July 6, 3:50 PM
Which countries work the longest hours?
Jean-Guy Frenette's curator insight, Today, 8:34 AM

PDGMan

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On not being a weak discipline

On not being a weak discipline | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

That’s how it has always been, and I see no reason for equating small numbers with weakness, if we can interact effectively with others, and punch above our weight. Cue metaphors about the yeast in the bread etc. the skills and perspectives inherent in LIS are applicable in all contexts in which information is organised and communicated, knowledge is shared, and understanding developed; and those contexts extend far beyond libraries. One point of weakness in LIS is that we do not get this point across more strongly. .

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Pitfalls to Avoid When You Inherit a Team

Pitfalls to Avoid When You Inherit a Team | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

Taking over as the leader of an existing team can be daunting. The team’s response to your new processes or style can make you feel a little like the evil stepmother who’s stepped into their formerly happy lives. Your team was once someone else’s team. They’ve developed habits in response to the preferences of the previous leader. Adjusting those habits is going to be challenging, but there are things you can do to make the transition easier on all of you.

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The Risks of Changing Your Prices Too Often

The Risks of Changing Your Prices Too Often | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

Today’s technologies allow digital businesses (as well as a growing roster of traditional companies) to change prices frequently, even minute-by-minute in real time if they want to. But for a lot of consumers, fluctuating prices are merely confusing, frustrating, and annoying. Changes stop customers in their tracks. Price changes often make the buying decision infinitely more complex. Customers no longer have clear reference prices, so they don’t know when to pull the trigger. Research shows that when decisions become complex, many people delay making decisions or back out of them altogether. For example, when a price moves around on an hourly basis, the best option for many consumers is to simply tune out and postpone the purchase. Another insidious consequence is that constant price changes shift the customer’s attention away from the product’s features to its price.

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3 ways to improve regulation of the disruptors

The best way to realise the promise of fair, open markets and economic growth across industries is for incumbents, disruptors and the policymakers who regulate them to find a balance of regulation that encourages entrepreneurialism while protecting the public interest. That’s never easy, and is harder now, as the speed of technological change increases while the speed of policymaking remains pre-digital. Recent research from The Economist Intelligence Unit suggests three ways that regulators can begin to show the same nimbleness as innovators and embrace digital solutions themselves

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A checklist for efficient competitive intelligence

A checklist for efficient competitive intelligence | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it


As a competitive intelligence manager, you’ve probably grappled with multiple challenges over the years. Common challenges include, how do we develop our company’s internal competitive intelligence network; how can we gain insights in a broad range of specialized topics; how do we share market signals with key stakeholders effectively; how can we maximize the output from internal resources, and more. These are questions we help our clients address with the Intelligence Plaza all the time. here is a quick 10 point checklist for an efficient and trusted competitive intelligence program:

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metsepsis's comment, July 3, 2:49 AM
Remarkable...!!
Gust MEES's curator insight, July 4, 11:17 AM

As a competitive intelligence manager, you’ve probably grappled with multiple challenges over the years. Common challenges include, how do we develop our company’s internal competitive intelligence network; how can we gain insights in a broad range of specialized topics; how do we share market signals with key stakeholders effectively; how can we maximize the output from internal resources, and more. These are questions we help our clients address with the Intelligence Plaza all the time. here is a quick 10 point checklist for an efficient and trusted competitive intelligence program:


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Figure Out Your Manager’s Communication Style

Figure Out Your Manager’s Communication Style | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

Effective communication takes a deft touch when you’re managing up. If your attempts to persuade are too obvious, they may not succeed. Yet you need to be deliberate in your approach. As you engage with your boss in everyday activities, try to identify the messages behind her speech and behavior. The words and deeds matter, of course, but the values that underlie them often mean more. Listening with a keen ear and observing with a sharp eye can make all the difference in understanding, not just labeling, your manager’s communication style.

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Justine Engelbrecht's curator insight, July 3, 10:27 AM

Communication is Key - but it is not all about words, there are key behavioral factors that play a role.

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Debriefing: A Simple Tool to Help Your Team Tackle Tough Problems

Debriefing: A Simple Tool to Help Your Team Tackle Tough Problems | Strategy and Competitive Intelligence by Bonnie Hohhof | Scoop.it

Debriefing is a structured learning process designed to continuously evolve plans while they’re being executed. It originated in the military as a way to learn quickly in rapidly changing situations and to address mistakes or changes on the field. In business, debriefing has been widely documented as critical to accelerating projects, innovating novel approaches, and hitting difficult objectives. It also brings a team together, strengthens relationships, and fosters team learning. In my experience, teams who debrief regularly are more tight-knit than those who don’t. They communicate more effectively across the board. They are more aligned on values and purpose. In essence, they become higher performing teams..

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