Octopus Competitive Intelligence

We have taken the opportunity to look at ChatGPT and ask it a couple of questions. If nothing else’s it a good article itself shows how questions are more important than answers. Here is the result: What is ChatGPT? ChatGPT is an open-source natural language processing (NLP) tool that can be used for research purposes. It leverages GPT-3, a large artificial intelligence (AI) model developed by OpenAI, to generate text based on input prompts. ChatGPT allows researchers to explore the capabilities of GPT-3 in an interactive environment, enabling them to test out different types of prompts and see how the AI responds. This can help researchers better understand how GPT-3 works and what kind of results it produces. Using ChatGPT for research involves first preparing an input prompt or question that you would like to use as a starting point for exploring GPT-3’s capabilities. Once you have your input ready, you can then launch the ChatGPT interface and enter your prompt into the dialogue bo...

  Do you believe you have numerous strategic choices available to you?  This article asks whether you believe you have numerous strategic choices available to you. It is written by  Babette Bensoussan  of Mindshift as part of her rather splendid Monday motivation series. A weekly article on competitive intelligence, life and executive coaching. She has written several fine  books  on competitive analysis, focusing on how to do it rather than theorising about the subject.  Simple but powerful What struck us about her words is that they initially appear very simple. But thinking about them makes you realise how powerful they are. Incredibly insightful from her years talking to real businesses. And getting a complicated message across as simply as possible is critical for competitive intelligence professionals. Business school students should also take note of these six strategies.  So over to Babette and her thoughts on the six strategies to choose ...

  Competitive intelligence example industry validation by a software company This piece is one of a number of articles offering an example of what you can do with competitive intelligence. We are determined to show you how competitive intelligence and associated activities can help any business. In this example, a technology business wished to gain a foothold in another market. This article is called Competitive intelligence example industry validation by a software company. This an example, but we do also have many  case studies  like this one:  How Competitive Intelligence Helped a Software Provider Better Understand Their Competitive Environment What’s happening A large enterprise financial software house wished to increase influence and revenue its marketplace. They produced a very popular and well-used API that allowed one financial platform to talk to another. However, its investors were putting pressure on them to expand their offering, telling them they were ...

Social media competitor analysis in 2023  There’s a lot of talk about Social media competitor analysis tools and how they can identify strategic gaps. This article describes social media competitor analysis in 2023.   There are indeed many decent social media competitor analysis tools, but they are just that tools. One of the many tools required to develop your competitor analysis. They can bring you some tremendous competitive insights, but they are in no way the be-all and end-all, as the social media competitive analysis tools will tell you.  Benefits of competitor analysis on social media The benefits of focusing on social media for your competitor analysis are more than just learning about your known competitors. Analysis can: Provides insight into your business and audience, which may be similar to your competitors Find performance benchmarks Content ideas to resonate with your audience Understand your customers’ pain points Give you ideas to create brand differenti...

Buying competitive intelligence doesn’t mean you have to be mugged off This article suggests that buying competitive intelligence doesn’t mean you have to be mugged off. There are many benefits of using competitive intelligence in their business. It could be fantastic, and we have highlighted one or twenty on this website :-), but once they start, some will soon realise they may need help. When the same old story again. All those tears shed in vain nothing learnt. And nothing gained. Only hope remains. But the same old story shows its head again. The Farm Big names There’s a chance they will get their fingers burned. They may have previously used management consultants and researchers who provide nice-looking reports. You know, the expensive reports with a prestigious logo and many pie charts and graphs with no substance or insight but a six-figure bill. There is, of course, the other side of the coin with happy clients given an excellent service and end product. This is what  we b...

Things to do that may assist your competitive advantage This article lists 30 bullet points on things to do that may assist your competitive advantage. Designed to be a quick and dirty list to help you think about gaining a substantial competitive advantage. Analyse competitor data and identify patterns in customer behaviour Develop a scoring system for ranking competitors based on their performance Create an online platform where companies can compare their products or services with those of competitors  Analyse competitor pricing strategies over time to track changes in the market  Utilise social media analytics tools to monitor competitor conversations and activities  Conduct surveys of customers who have used both your product/service and that of your competitors  Investigate how well-known industry influencers are talking about each competitive brand or product  Use predictive analytics models to forecast future trends in the competitive landscape  Map...

Why competitive intelligence is important even when you have access to a database? This article asks why competitive intelligence is important even when you have access to a database. You know when you get access to a major database platform and think it looks impressive. So much data at your fingertips. And it’s easy to search for stuff, and you have every revenue figure at your fingertips. Even some of them outside the global 500. But then you think, yeah, but? There’s got to be more to competitive analysis than published reports and lots of data.  You buy the latest global report on your industry sector. 140 pages of great information. You sit down and read it. And you feel more informed. But again, you think, yeah, but? Yeah, but what about my company? How is this information going to affect me? What are my competitors going to do? How can I use this information to grow? Then you realise that your competitors have also bought the report, so where’s that advantage? All your comp...