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Mkt 421 Week 3 Competitive Intelligence Examples

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3 Competitive Intelligence

Knowing your competitors is key to every business’ success. Competitive intelligence is the ability to see through or stay ahead of your competition, which is unspoken and hidden key to success (Fuld, 2010). A more formal definition of competitive intelligence by Leonard Fuld is the gathering and analyses of competitor information in anticipation of competitive activity.

Competitive intelligence (CI) is essential when developing an organization’s strategy because its analysis can provide valuable insights into the competitive environment in a structured and ethical manner. CI data include both published and non-published sources. Although CI appears to be spying on the competition, I quickly learnt that CI conforms …show more content…

Internet of things (IO) can possibly deliver an omni-channel experience between the physical and digital world through the connection of people, devices and systems. The emergence of IOT has brought possible efficiencies which can be achieved through devices which can gather and share data with each other to make intelligent decisions.

A variety of new technologies such as AI and 3D printing are becoming more affordable and opens opportunities for new innovates services and improvement of current services or products. Organizations that previously believed that they were not hugely affected by digital technology are increasingly forced to re-evaluate their business. The organization I work is one such example. The concept of 3D has drastically improved our manufacturing costs. We can print models of structures and play around with dimension at a fraction of the costs.

The global impact of the IOT is still yet not very clear as this is still new technology, however, in its report the (GSMA, 2014) stated that revenue from connected devices and services could be as much as US$2.5 trillion by 2020. The same report also states that cost reduction and service improvements from IOT could be as much as US$1 trillion by 2020. Below is an illustration of possible cost …show more content…

“Could this be a reality in my lifetime?”, I asked myself. The shocking answer is yes. Technology is improving at a very fast pace and is also getting cheaper. As a very private person, I was disturbed by the realisation that it is possible that someday, I could purchase groceries using a Google profile. I have to accept that someday my private ‘profile’ will no longer be private. I can choose to embrace the future reality and start adjusting now or I can remain stuck in my own world. Whichever choice I make, I have no control of how the world could be and Google analytics is just around the

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