Hi. Welcome back.
Although the intelligence cycle is presented in a sequential nature,
the practical experience demonstrated that analysis happens all the time.
It starts at the kick and kicks definition,
continues at the selection of the analytical tools,
information gathering planning, and each step of the way.
Despite your best efforts,
during the research phase,
some of the most important information you
collect will be incomplete, fragmented, or contradictory.
It is up to the analysis to make sense of
everything you have learned during the research stage.
Analysis is important because it provides
meaning to the vast amount of information you have collected.
You perform analysis whenever you need
a systematic examination of the information and identify important events,
key relationships and reach key conclusions.
The insights in recommended course of action,
those generated, need then should be communicated to the decision makers.
Analysis is the stage that generates most of the competitive intelligence value.
Like research, analysis is also a collective effort.
As stated before, the rule of competitive intelligence is to know and use the knowledge,
access to information, and the needed
co-capabilities within the company to support decision making.
This will allow the firm to generate and explore competitive advantages.
There are over 100 analytical techniques
available and some of them are highly specialized.
You need to use the appropriate tool for each intelligence problems that you have.
Competitive intelligence analysis should generate actionable intelligence.
It must help the company to understand what is happening now and sometimes,
what is likely to happen next.
The implications for the firm may insight options and the recommended courses of action.
In order for this kind of analysis to be relevant,
they must be presented in a timely fashion so as
to allow the decision makers enough time to act.
Sales management usually require a number of techniques
according to the type of understanding on the marketplace its players needs to develop.
Some of the key aspect that needed to be understood are external environment,
that is, the industry,
the players, their relationship and how they affect
your firm's ability to sell both today and in the future.
The players include your competitors, suppliers,
client, substitute products, and new entrance.
The environment in which your firm operates,
macro environment variables that will affect all of the indices,
these variables include social and demographic changes,
technological developments, economic environment,
political and legal issues.
You can also consider the internal environment which is your company and the operations
directly/indirectly involved in the value creation like human resources,
information technology, purchasing, internal operations,
logistics, sales, marketing, after-sales services, and etcetera.
Which of your internal resources grant you
competitive advantage and competitive disadvantage?
You need to know the players,
their capabilities and intentions,
how they affect your business in order to formulate sound strategy.
You need to be able to understand the key players with whom you
interact and the effects they will have on your ability to achieve your goals.
Why do you win some deals and why did not win other deals?
This is important because you need to adjust your strategy.
Without knowing why you are winning,
you will be unable to enhance your competitive position.
If you don't know why you're losing,
it will be harder to stop the losses.
The combined use of these tools will help you to know what to do.
But that's still not enough.
You need the company to act on
the knowledge that you have generated in order to reap the results you want.
And, in order to do that,
you need to influence the decision makers with an operational ability to act.
This is the topic of our next video dissemination.
Thank you very much for watching.
We'll see you in the next video.