Competitive intelligence is the result achieved after gathering and analyzing the information that contributes to the competitive advantage. This information allows businesses to understand the competitive environment, the challenges, and opportunities in the market. For comprehensive competitive-intelligence, make use of competitive intelligence tools.
Competitive Intelligence Tools
These are tools that aid in the process of gathering and analyzing market information. These tools include.
Crunchbase allows you to access the financial information of any competitor. The data gathered by Cranchbase ranges from acquisitions, investment, and stock trends. Crunchbase relies on developing machine learning technology to provide industry trends and news about global companies.
Crunchbase also relies on in-house information teams, community contributors, and other venture partner networks. This aspect makes Cranchbase a constructive tool for your competitive research on rival companies. Crunchbase also integrates with other data analytic tools such as SimilarWeb and Owler. This feature gives you competitor information from a single dashboard view.
This tool allows you to identify all your potential competitors and how your business stacks up against them. This tool is useful to investors looking to enter a new market. Owler allows you to gather data about the top and emerging cooperators in a given market landscape.
Owler also unearths information about your customers, competitors, partners, and vendors. This information helps you make informed decisions that keep your business ahead of the curve. To acquire this information, you will need to subscribe to the email alerts on the competitor you desire to evaluate. These email alerts will update you on the latest news and announcements about the particular competitor.
Owler makes use of crowdsourcing to gather useful data on your competitors. Unlike Crunchbase, Owler does not interact with other data sources to give a comprehensive report on competitors. However, it makes up for this by pulling a vast amount of information about competitors and doing a brief competitor analysis on your behalf.
Talkwalker is a competitive intelligence tool that helps you compare social media trends about your brand against a competitor. This tool substitutes the use of Google Alerts to track competitor information. Talkwalker provides you with two free tools that aid in competitor tracking. These tools are;
- Talkwalker Alerts: This tool is an improvement to Google Alerts. It presents you with email alerts about competitors from news outlets and social media. Talkwalker helps you capture every move made by your competitors. It also allows you to know what are the sentiments about your competitors across all media and news channels.
- Social media search tool: This tool takes competitive intelligence to a higher level. It tracks sentiments made about your competitor and the demographic of the people making these sentiments. Therefore, this tool is suitable for analyzing your customer base and preference against that of your competitors.
Although Talkwalker will not help you identify competing organizations, it will help you stay ahead of your competition. It will also keep you updated on conversations occurring around your market niche.
Visuaping is preferable when you want updates on crucial changes your competitors make on their websites. Using Visualping, you can initiate highly-targeted alerts. These alerts can focus on dynamic content like promotions or news.
Additionally, Visualping allows you to keep track of subtle changes such as changes in your competitor’s navigation menu or web page changes. This information serves to predict their next move based on their previous history. Single alerts might not give you any insights. However, after some time, you will notice patterns. These alerts give you deep insight into the promotion and marketing strategies of your competitor.
NetBase Quid is a professional company that offers competitive intelligence services to small and large businesses. It uses all the above tools to help your business gain a competitive advantage over others. NetBase Quid also provides services like market trends. It uses the above tools to analyze the market landscape and provide reports that help you make viable marketing decisions.