Since my book launched last week many people have asked me to explain the difference between Intelligence and what is in business circles referred to as Competitive Intelligence (CI).
Pure Intelligence relies on people input - Their awareness of a series of seemingly random clues that if heeded, give rise to a theory, that if factored into a business equation (in time), will provide a distinct business advantage. A prediction as to what might happen on a balance of probability! Competitive Intelligence on the other hand is the loose term that refers to data management technology, which is an important and increasingly complex branch of the greater world of Business Intelligence. There is no chance of securing a competitive edge if information/data has not been recorded or entered into a database or information storage vehicle.
Business will always demand that we know what our suppliers, clients, associates, competitors and other industry members are up to, preferably before anyone else, if we are to stay ahead of the game. Once foreknowledge becomes common knowledge it is then information or data with little or no competitive edge. Foreknowledge can be procured through espionage, theft or ignored. I recommend a fourth option – Ongoing people awareness and action relating to relevant events as they unfold in the operational arena.
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