Competitive intelligence is a high-level gathering of information to analyze competitors, customers, and other factors that give a business the upper hand in its industry. Competitive intelligence is also referred to as corporate intelligence. Whichever terminology you choose to use, competitive intelligence gives a business a leg up in the competitive environment around your industry. The research behind it presents the challenges and indicates clear opportunities.
This is an invaluable resource. It is easy for businesses to misinterpret their actual opportunities and waste time on “opportunities” that are not lucrative.
Here’s a shortlist of tools that will help you in your competitive intelligence journey.
DataCrops
This is a competitive intelligence software for retailers. What it does is it parses through the websites of competitors and pools out multidimensional and multifaceted online data. The usage and utilization of the tool are scalable. It parses through the most robust way to produce the most current and accurate information.
One of the greatest features of DataCrops is that it will pull the competitor’s pricing and product data. This helps sure that your products and pricing are in alignment with the overall industry of choice.
Upstream Commerce
Upstream Commerce is a great competitive intelligence software because it allows you to get customized quotes. Those quotes are based on how many SKUs you might need information on and how many competitors you want to scan. Additionally, other great features within the tool allow for even my retailers to benefit from.
Competitive Intelligence Services
This competitive intelligence software can be used in a broader scope outside of traditional retail as opposed to the two above. It provides data and analysis of business models, competitive forecasting, competitor profiling, manufacturing costs analysis. It monitors the competitors you choose and allows you to see the performance between one another to realize who the top performers and earners are. Best reveals how a particular business can measure itself and find areas of growth.
Bird-eye
Currently, more than 50,000 businesses look to Bird- Eye to help manage their reviews, be found easier online, interact with potential customers, collect customer feedback and encourage their family and friends to refer new customers. It also improves revenue and operations.
Suppose you are looking for a very specialized type of competitive intelligence. In that case, the Bird-Eye tool is basically all in one for customer surveys, social engagement, review generation, review marketing, webchat business insight, social publishing, and more. This software is extremely robust and brings all of the competitive features together in one place, and delivers high-level analysis.
Qualtrics
This is a top-of-the-line and top-rated online survey. Almost 9000 brands entrust their survey operations to this company. If you are looking for a flexible platform that allows you to create complex and simple surveys that look good, this is a great solution. There are over 100 various question types. It suits the capabilities of offline and mobile operations. The analysis is multi-channeled and full of advanced features. It offers market segmentation and reveals customer insights that make it much easier to make swift changes to increase profitability. There is also a free trial available.
This company has been around since 2002 and has had an ongoing increase in reputation and development. It is a survey Go To.
If you would like more support in your small business in competitive intelligence, Netbase Quid would love to be of service to you. Not only do we help analyze your competitive intelligence, but we provide solutions. We provide solutions and how to protect your brand health, boost your campaign performance, and improve crisis management.
