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Competitive Intelligence

19 May 2001
Competitive Intelligence

It takes a simple mind to run a simple machine, but a shrewd mind is needed to run an organization, association, or business.   Business intelligence has become a big principle in industries throughout the years.   "During the second half of the 20th century, the United States and Canada, Western Europe, as well as Japan and a number of other countries, have evolved from primarily manufacturing-based economies to more information-based societies" (Kara).   A business needs to have a mission to be successful.   To help accomplish missions for businesses, business intelligence is utilized.   To run a productive organization effectively and efficiently, certain things need to be accomplished.  
To start the process of applying business intelligence, as many possible sources of information must be gathered. After the information has been collected, it must be sorted into different categories.   These categories are either valuable or non-valuable information, otherwise known as intelligence.   Since the intelligence is derived by businesses for businesses, it is considered business intelligence. Business intelligence has a direct effect on how well its organization does in the marketplace.   This intelligence is used to identify forewarnings of disasters as well as opportunities that may occur.   After the intelligence needs have been identified for a business, the information is then collected by an all source fusion.   After analyzing the data that has been collected, it can be determined which information can be used, and what can be discarded.   The results are then passed to the bosses of an organization, who in turn, make a decision.   This completes the four-phased intelligence cycle.  
After you establish your business goals, various techniques are used to attain and surpass the organization's goals.   One technique is through competitive intelligence.   Competitive intelligence can be considered a subsidiary of business...