5 Options Your Aggressive Intelligence Device Wants

In case you’re discovering your present aggressive intelligence falls wanting expectations, you aren’t alone. Cam Mackey, Previous Govt Director of Strategic and Aggressive Intelligence Professionals (SCIP) pointed to a rising hole between aggressive intelligence (CI) leaders and laggards in 2021. On the time, Mackey noted that leaders are “… more proficient at ‘seeing via the fog’ of a risky market and performing rapidly when alternatives and threats come up.” With markets nonetheless in a state of flux, well timed and related CI stays a high precedence. Are your present competitive intelligence tools and services hindering greater than serving to?

Analysis executives, strategists, and others accountable for aggressive intelligence analytics change from one competitor analysis device to a different for quite a lot of causes. In case you’ve outgrown the capabilities and insights provided by your present CI analysis and analytics answer, what must you prioritize when contemplating new market and competitive intelligence technology?

No matter distinctive wants you will have, evaluating any potential device or service utilizing these 5 components can put you on the trail to improved competitor analysis that lets you get—and keep—forward of the competitors.

Issue 1: Information selection & quantity accessible

Correct, insightful competitive intelligence calls for a various vary of information. Does the aggressive intelligence answer you’re contemplating supply the content material you require for an in-depth understanding of your rivals?

How LexisNexis Helps

For many years, organizations worldwide have relied on LexisNexis options to entry a sturdy information universe that includes credible info sources spanning information, firm info, and extra. Whether or not you wish to combine information into your individual instruments utilizing the versatile Nexis® Data+ API or conduct ongoing media monitoring with Nexis Newsdesk® to trace what’s being stated about your group and rivals, LexisNexis has options to suit your wants.

MORE: Using Nexis Newsdesk to drive informed decision-making

Issue 2: Geographies coated

Uncovering aggressive intelligence from various sources throughout international locations and areas worldwide makes it simpler for immediately’s international companies to determine alternatives for progress in rising markets. World content material also can assist you to develop a extra holistic perspective and understanding of regional regulatory risks or insights into cultural influences to tell your methods, positioning your group for proactive, knowledgeable decision-making that yields a aggressive benefit.

How LexisNexis Helps

The LexisNexis information universe consists of local to global sources—in native languages—enabling you to choose up on vital context that may be missed in translation.  Plus, the applied sciences allow you to slender or broaden your focus as wanted, permitting you to discover areas of curiosity and unearth new alternatives.

MORE: Stay alert to reputational risk with these seven tips

Issue 3: Noise discount options

Tagging on one other course of, device, or service to an already convoluted workflow gained’t make your analysis any simpler or environment friendly. As a substitute of compounding current complexities—or, even worse, changing one sophisticated workflow with one other—the competitive intelligence solution you’re contemplating ought to streamline the method by enabling focused searches that yield refined, related outcomes.

How LexisNexis Helps

LexisNexis normalizes and enriches the data we aggregate with metadata and index tags. Together with highly effective search applied sciences, the enriched information makes it straightforward to solid a large web together with your preliminary analysis, then filter out the noise to disclose vital CI insights extra rapidly.

LexisNexis options are designed to make perception sharing simpler. Options like dashboards, alerts, e-newsletter or report technology allow you to collect and arrange aggressive intelligence insights to share with decision-makers, the place and once they want it.

MORE: Garbage in, garbage out: Why third-party data sources matter for generative AI

Issue 4: Information visualizations to inform a compelling story

When contemplating a device or service, consider the methods it permits information visualization. The power to visualise information isn’t solely key in serving to you to search out insights, but additionally for serving to others to see and perceive those self same insights as effectively. Information visualizations make numerical or textual data extra accessible and persuasive which accelerates the decision-making course of, as conclusions could be drawn extra swiftly. That is particularly vital for executives who could already really feel the strain of data overload and wish to get to the guts of the matter, not learn via pages of textual content.

How LexisNexis Helps

Options like Nexis Newsdesk® or Nexis+ AI™, characteristic visualizations to color an image of corporations of curiosity together with information protection over time, ESG rankings, sentiment evaluation and extra. Or you should use the Nexis® Data+ API answer to gasoline your individual information analytics and visualization instruments, ingesting key CI info like authorized or mental property information.

Issue 5: Perception sharing capabilities

Aggressive intelligence groups are rising. Lately, the variety of organizations with multi-person CI teams versus single practitioners has elevated 13% or extra. As such, everybody in your lineup wants instruments that make it straightforward to summarize findings, in addition to a simplified course of for sharing key insights with decision-makers throughout your group.

How LexisNexis Helps

With options that allow you to ship automated alerts, generate studies on the fly, use visible dashboards or create customized newsletters, LexisNexis applied sciences make it doable to not solely discover CI insights quickly, however share them with colleagues throughout the enterprise.

LexisNexis supplies a set of aggressive intelligence (CI) options to satisfy your wants. Whether or not you require information feeds to energy your individual CI instruments or search our cutting-edge AI answer, Nexis+ AI™, now we have you coated. In case you lack the bandwidth for in-depth evaluation, our Nexis® Media Intelligence Research & Analytics service gives an answer. Our specialists can complement your efforts by delivering Model Benchmark Evaluation or customized studies, conserving you knowledgeable about your aggressive panorama.

Discover the probabilities with LexisNexis. Discuss to a CI answer specialist immediately and discover our resources–like our new e-book–to get a greater understanding of precisely what information you must accomplish your online business targets.