Competitive Intelligence Portal
Businesses these days are facing a tougher competition from their counterparts than they did a few years ago. All of this has happened due to a shift in the marketing strategies and risk management strategies of the companies in recent times. Competitive intelligence, however, has had an important role to play in it. Competitive intelligence, also known as CI, is the act of systematically gathering, analyzing, and managing information from human as well as published resources to define the marketing strategies of a company that helps to their advantage. Companies like D Cube help various organizations with their CI needs and help them manage their CI team with the help of a Competitive Intelligence Portal.
What is a Competitive Intelligence Portal?
A Competitive intelligence portal is therefore, a single centralized platform for the collection, storage, processing, and dissemination of the information. The information gathered by the portal can be from both the internal and external platforms. You can design your own portal based on the kind of industry you’re in and the market data you gather. However, many companies, for examples D Cube, deliver analytical solutions like CI Portal to the companies and help them with their marketing needs.
Why do you need a Competitive Intelligence Portal?
Gathering information from various sources takes up a lot of time of an individual and an organization, and that is why, an automated portal helps with the process and saves your valuable time. The portal also supports the intelligence work by being a one stop shop for all kinds of service involved with CI and hence, you can choose how to process your data as well. It also serves as an excellent marketing tool and helps build an intelligence culture in the organization. The organization builds an intelligence network who work under the C-level executives to use the portal.
How do Competitive Intelligence Portals help the CI process?
The CI process follows a 5-step cycle that helps one with gathering and processing all the information from various sources. The process involves, planning, collection, processing, analysis, and dissemination.
A good CI portal helps the CI team with all of these steps and automate most of their work. For example, good CI requires a lot of planning and direction which involves analyzing the strategic position of your company, your competitors, and formulating the right questions based on them for your intelligence needs. A CI portal can, therefore, be fed with this data to understand what kind of information to gather and to look at. The portal can read tens of thousands of data based on the information fed into it and can therefore, work much faster as compared to a team of individuals collecting the same kind of data.
After the portal is up and running, it can structure, calculate, read, and visualize data to help the CI team understand and analyze it further. They provide perspectives on the information available to the individuals and help them understand what to do with it. Thus, a portal reduces the work of an individual team to a great extent and is therefore, an amazing addition to the working environment. Various companies like D Cube help organizations set up a CI portal and help their CI team walk through the whole process and using it and maintaining it.