What is Competitive Intelligence and Why Does it Matter?

Competitive intelligence (CI) collects and analyzes data to identify competitive activity and report future business operations and planning. Competitive Intelligence is helpful for online businesses in gauging the marketplace and finding areas to compete next to different ecommerce stores within a niche. What is Competitive Intelligence? It is a crucial method of developing new business plans and showing useful insight into marketplace happenings. After structured analysis and research are done, the data and insight gathered often prove very significant to a business's operations and strategies. CI enables the growth and shape of these strategies to compete with different businesses effectively. It is also helpful for a company in preparation for launching a new product, entering a new market, or making any other kind of tactical move. It should be noted that most businesses use Competitive Intelligence as a standard that helps determine where the...