IS COMPETITIVE INTELLIGENCE THE SAME AS MARKET RESEARCH?
No. Market research is a valuable tool, but it is quite different in many key aspects. Competitive intelligence is highly specific, precise information tailored to be directly responsive to an individual client’s needs. The information is actionable and provides the basis for strategic decision-making. It is time sensitive, acquired through primary research and is not part in the public domain. In many cases, the information will be public knowledge at some point, but it is the advance warning and the inherent advantage it brings that provides the value. In other cases, the information may change over time and what was once true is no longer valid. Finally, our competitive intelligence reports become the exclusive property of the client and are never re-sold. Market research, by contrast, usually provides a more general understanding of a market and/or industry. It is public information and lacks the specificity and custom tailoring of CI. It is not generally actionable, nor timely. It
