Competitive intelligence in business means learning and understanding the outside world to compete professionally. By extension, it empowers business and company owners to face the challenges and remain at the top of the game. It’s essential to understand the competitors’ operation strategies and the industry rules in the area of operation. These primary pillars contribute to a successful competitive process.
On the other hand, it’s critical to understand that competitors are also analyzing your company’s competitive intelligence. Some of the process parameters include capturing the competitor’s site analytics, traffic source, site traffic & changes, and keywords, among other top-rated intelligence trends. However, you must hire an expert, including NetBase Quid, Dialog, Yahoo! Finance, among others, to facilitate such professional strategies.
How NetBase Quid Facilitates Competitive Intelligence
The San Francisco-based company is among the top-notch service providers in the industry. Its expertise in providing accurate social media analytics solutions has contributed to the unmatched growth of many businesses. Since 2014, the data-mining firm’s accuracy in data analysis has helped companies make efficient, quick, and accurate decisions.
Its platform applies unmatched natural language processing techniques and artificial intelligence to process indexed resources of raw and processed data. Furthermore, NetBase Quid has facilitated winning strategies for product innovation, customer service, public relations, and sales & marketing leaders. Notable clients include Microsoft, Walmart, Coca-Cola, The New York Times, and Hyundai, to name but a few.
An Outline of Competitive Intelligence Tools in the Market
Apart from NetBase Quid, some companies use Yahoo! Finance as their analytics partner. The site offers an in-depth analysis of financial news and stock research. Additionally, Dialog is another pay-as-you-go service provider with over 1.3 billion online documents and publications. Its platform helps businesses develop strategic vision through market insights and analysis of product trends. Furthermore, the platform provides evidence-based business plan services.
Google Trends is another powerful free platform that provides accurate keyword-based data revolving around search engine users’ demographic information and volume index. The benefit of using Google Trends is that it’s easy to determine how often users search for you, your products, industry, and competitors. In other words, the tool helps in measuring a particular topic’s interest-based data samples.
Crayon platform enables users to capture, analyze, and take necessary action on the competitors’ footprints in real-time. Among the captured data include market campaigns, customer reviews, and pricing changes, to name but a few. Since 2014, thousands of clients have used Crayon to penetrate the crowded market by improving marketing performance and facilitating organizational strategies to establish winning products. Other tools that have revolutionized the sector include SEMrush Market Explorer, Spyfu, Owletter, Tubular, and Visual Ping.
Selecting the Best Service Provider
Based on the above examples, the tools provide the same services in different categories. However, NetBase Quid and other big players provide services for almost all business categories. Therefore, users should look for tools that suit their businesses to make informed decision-making processes based on expertise and pricing. Healthcare, manufacturing, consumer goods, financial, and technology players are among the beneficiaries of CI.
Modern technology has simplified the way people run their businesses. Unlike in the past, competitive intelligence has eradicated guesswork usage in finding how a particular industry and competitors operate. A click of the button provides accurate facts required to run the business and remain ahead of the industry trends.