Octopus Competitive Intelligence

  Is Competitive Intelligence without Key Assumption Analysis just lots of words? We have mentioned this once or twice. But in case you haven’t read one of our articles before, we will repeat it. Great Competitive Intelligence is about asking great questions. And spending time doing excellent analysis of the information you find is the cherry on the cake. In this article, we ask, is Competitive Intelligence without Key Assumption Analysis just lots of words and graphs on a page? Once you have the questions and found the information, the analysis matters. It makes a Competitive Intelligence Analyst stand out in the crowd of mediocrity. So yes, Intelligence without analysis and some thought is just a lot of words and graphs. And Key Assumption Analysis should be on top of your to-do list.  What is a Key Assumption? A Key Assumption is any hypothesis accepted to be true and which forms the basis of the assessment. It’s the most crucial structured analysis technique you can use Wi...

  What’s meant by Competitive Intelligence and how to apply it to our business As Competitive Intelligence professionals, we are asked What’s meant by Competitive Intelligence and how to apply it to our business. Over the past couple of years, this question has been getting less and less. Especially within major corporations and increasingly middle-market players. And even those who achieved investment 3 to 5 years or so ago have found new major stumbling blocks. Blocks reducing their growth potential long before Covid did its thing to the world.  Some companies don’t really understand who their competitors are. Know very little about them and assume their offering is superior. Based on what? Absolutely nothing. There are many frameworks, models and software offerings out there. And some of them are useful. Still, here are some questions to help you advance your Competitive intelligence activities. The first place to start is a realisation. If you don’t know your competition, ...

  How Competitive Intelligence helps with Strategic inflexion points? This article is called how Competitive Intelligence helps with Strategic inflexion points? Strategic inflexion points have many causes. And not just changes in technology or something one of your competitors is doing. They are the strategic changes. The ones that will blow your boat out of the water. Changes that can’t be countered by introducing something new and hoping for the best. And keeping an eye out by using Competitive Intelligence is vital. What is an Inflexion Point?  An inflexion point (or inflection point if you take your English from the US) is an event resulting in a change. A change affecting the progress of a company, sector, economy, or geopolitical situation. It can be considered a turning point with either positive or negative results. ( Investopedia ) Companies, industries, sectors, and economies are dynamic and constantly evolving. Inflexion points are more significant than the sma...

  Does Competitive Intelligence help you during a crisis? We all know the clear and obvious benefits of knowing the answer, but does Competitive Intelligence help you during a crisis? However big or small, during a crisis, there is always some confusion. It can be down to too much or too little information flying around. And not a great deal of time to deal with it or indeed, find it. Everyone is running around with their hats on fire, with no time to rationalise the situation with considered analysis. Many people will be calling for action, and some will have a vested interest in success and failure. The Press during the Covid crisis immediately springs to mind. They are looking for answers to inform the public and try to catch politicians out. To accuse them of failure or U-turns and the like. Some lessons can be learned from Military Intelligence Start by assuming that your competitor, customer or whoever is behind the crisis is behaving rationally. And there is a method in thei...

  Competitive Intelligence Research and urgent last-minute enquiries The subject of this article is Competitive Intelligence Research and urgent last-minute enquiries. We occasionally get enquiries from middle managers asking for a market analysis report. These types of requests tend to follow the same pattern. Before the new company financial year. Short notice, impossible time frames and minimal budget.  A senior manager has been asked to contribute to the company’s business plan. Then realises that Market Analysis is more complicated than a quick SWOT. Frankly, we could copy an old report and change the name of the company and competitors. We know it’s likely not to be read in any great detail. Never mind being acted on. We take the call, explain that this sort of activity needs to be strategic. Not just to fill in space in a business plan. When offered this sort of business, we find ourselves in a no-win situation. Agree to help them, and they get a few days work which is ...

  Why Competitive Intelligence and Data Analytics are different but work well together Here we discuss why Competitive Intelligence and data analytics are different but work well together. Both Competitive Intelligence and data analytics are used to find answers to questions. And Competitive Intelligence can include data analytics as a tool to find great certainty.  What Is Data Analytics? According to  Investopedia , Data analytics is the science of analysing raw data to make conclusions about that information. Many of the techniques and processes of data analytics have been automated into mechanical methods and algorithms that work over raw data for human consumption. What is Competitive Intelligence? Competitive Intelligence is the finding, sorting and critical analysis of information. To make sense of what’s happening and why. Predict what’s going to happen and give the options to help you control the outcome. Competitive Intelligence offers certainty, competitive adv...

  How to think within Competitive Intelligence using pencil and paper This article is called how to think within Competitive Intelligence using pencil and paper. Competitive Intelligence thinking can bring some brilliant ideas and ways forward. But how do you move from idea to getting started? Our minds are packed with some fantastic ideas, but these ideas stay where they are more often than not. In our heads, never to come to fluctuation. Convincing yourself that it was a daft idea.  New idea It is not easy to bring a new idea to life. To download it out of your head and make it become real. The path you will be on will always be unclear. You may start out with a very clear understanding of where you want to go and what you are going to do. But the mist of reality can really blind you and perhaps put you off altogether. The first place to start is to get support for your idea. Get buy-in from the right people to get anything off the ground. You’re better half if you are going...