2020 State of Competitive Intelligence
Tuesday, January 14, 2020
Posted by: Cam Mackey
As the saying goes, standing still is the fastest way of moving backwards in a rapidly changing world. With product and technology lifecycles getting shorter, the need for strategic agility has never been greater. To navigate these disrupted times, organizations must take a 360-degree view of their ecosystem: markets, customers, competitors, suppliers, megatrends, etc. Simply monitoring and reacting to competitors won’t cut it.
As the world’s largest non-profit serving the competitive & marketing intelligence community, SCIP (Strategic and Competitive Intelligence Professionals) is pleased to partner with Crayon on the 2020 State of Competitive Intelligence study, surveying the state of our profession. Whatever words are on their business cards, our members are Intelligence Strategists, dedicated to using insights and tools to drive growth and capitalize on disruption.
As you’ll read in the report, growth isn’t getting any easier: nearly all businesses report that their industry has become more competitive in the last three years. Without strong processes and discipline around intelligence-driven strategy, organizations may miss warning signs and be blindsided. While we’re encouraged to see growth in the size of MI/CI teams, the fact that less than half have defined KPIs should serve as a wake-up call. In this age of measuring everything from greenhouse gas emissions from a single motor to our sleep quality, tracking and reporting on KPIs are table stakes.
When disruption is the new normal, “stay the course” is no longer an option. By providing a benchmark against current practices and insight into best practices, this report is an important resource to help improve the value that we bring to our organizations every day.