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The best part of attending conferences are the many opportunities for networking with colleagues. At the Strategic and Competitive Intelligence Professionals 30th Anniversary International Conference & Exhibition a few weeks ago, we sat down to an open discussion with fellow attendees to talk about the opportunities and challenges in gleaning competitive insights from news stories and social media. The ideas that were ‘circulated’ certainly got everyone thinking. Here are some of the top of mind issues for competitive intelligence professionals.
When this question was introduced, there were plenty of responses. While everyone acknowledges that our data-rich world is a boon for competitive intelligence professionals, they also recognize some significant barriers to leveraging data effectively. The top eight challenges that came up in the discussion include:
Most users are leveraging technology, but to varying degrees. Many are using Google Alerts, but lack confidence in whether these searches are pulling all the relevant content. Most, however, are looking to innovative technologies—already available or still highly anticipated—to meet the big data challenges. The focus is on data aggregation solutions that bring together relevant content, an effective search methodology, analytics and sharing tools to optimize time spent on research and the quality of insights gathered. The key types of technology that competitive intelligence need include:
As the writer Louis L’Amour once said, “Knowledge is like money: to be of value it must circulate.” After the great roundtable discussion we had during SCIP, we’re convinced that circulating with our competitive intelligence colleagues left everyone richer.