What is the difference between business intelligence and competitive intelligence?

Business intelligence and competitive intelligence are slightly related but different factors. Both concern the process by which the organization collects information from various sources to allow it to take informed strategic planning decisions. The difference between business intelligence and competing news is that business news focuses on the collection of internal information and competitive news focuses on the collection of information on the external business environment. Competitive news is the process of collecting information about things such as competitors, products and consumers ethical. Emphasis in competitive intelligence is the ethics of the process of collecting information. This is because any information that is collected in the Unethic way is industrial espionage and not competitive intelligence.

Competitive intelligence can be divided into strategic and tactical intelligence. Strategic intelligence is used for decisionsAbout strategic planning, which are long -term. Tactical intelligence is used to decide which are immediate. An example of long -term strategic intelligence includes information on external factors that could affect the longevity, productivity and success of the company. Tactical intelligence concerns intelligence related to factors such as product types that have competitors, their price structures and marketing tactics.

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focus of business intelligence focuses on internal data that is collected, analyzed and presented in a structured form that makes it easier to understand the way the business works. Like the competitive Intelligen's Intelligence, the best managers of the organization are studied and integrated into the formulation of the strategic business plan. Business Intelligence involves the use of technology to compile statistics derived from the company's analysisthe operation of the operation of the operation.

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process of collecting business intelligence involves analyzing corporate culture and image, as well as analysis of the level of obligations of organization members, from the highest level of management to the lowest employee. Information could be collected by preparing questionnaires or other types of surveys. In addition, this is to other types of statistical analysis of the business model. Some business intelligence software has been developed on the market that allows businesses to analyze information that was collected during the business news process to conclude.