Tips on how to Select Aggressive Intelligence Instruments

Aggressive intelligence strategists know that over the previous few years, global socioeconomic turbulence has fully upheaved nearly each trade and group throughout the planet. With the onset of distant work, the wave of new technologies and their ever-changing risks and regulations, and unpredictable markets, there’s been an enormous paradigm shift throughout the enterprise spectrum. 

The strain has by no means been higher for a competitive intelligence analyst to seek out essentially the most up-to-date and complete company data to assist their stakeholders stay agile of their enterprise selections and keep forward of the competitors. Not solely should these managing aggressive and market intelligence present sturdy, correct reporting, they have to do it sooner than ever earlier than. 

So, what’s a savvy, bold aggressive intelligence researcher to do? What they’re already good at—researching all of the aggressive instruments at their disposal. We’re right here to assist make that call simpler.

Consider the present aggressive intelligence panorama

Let’s begin along with your present competitive intelligence. Possibly you’ve got too many blind spots in your data sets, leading to competitor profiles which can be incomplete at greatest or fully inaccurate at worst. Possibly your current platform is simply too complicated and cumbersome to make use of and navigate, with too many “options” and buttons which can be extra gimmicky than useful to your competitor research. Or perhaps your aggressive intelligence as a complete is much too tedious and labor-intensive with little to indicate in return to your time and vitality. You realize your stakeholders are holding you to an ordinary that may require way more reporting, however you are concerned concerning the effort it’d take to maintain up.

Ultimately, you resolve to have a look at various aggressive intelligence instruments and companies. Analysis executives, strategists, and others accountable for their firm’s aggressive intelligence analytics change from one competitor research tool to a different for a wide range of causes. Some instruments and companies provide particular options and capabilities which can be well-suited for distinctive wants that an organization may not discover elsewhere. However talking holistically, the easy reality of the matter will not be all competitive intelligence is created equal.

There are 4 key components you must take into account earlier than buying any aggressive intelligence resolution. And no matter distinctive wants you might have, strive evaluating any potential device or service utilizing every of those components as your information. Should you do, chances are you’ll simply end up with improved competitor analysis that places you forward of the remainder.

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4 components to think about when adopting a brand new aggressive intelligence resolution

Issue 1: Does it provide you with entry to the info your aggressive intelligence wants?

Correct, insightful aggressive intelligence calls for a diverse range of data. Does the aggressive intelligence resolution you’re contemplating provide the content material you require for an in-depth understanding of your rivals? For instance, does it entry all the most recent firm information, news, filings, and media mentions?

Issue 2: Does it streamline your competitor analysis—or make it extra sophisticated?

Tagging on one other course of, device, or service to an already convoluted workflow most likely isn’t going to make your research any easier or more efficient. As an alternative of looking for one thing that provides to current complexities—or, even worse, merely replaces one sophisticated workflow with one other—ask your self if the aggressive intelligence resolution you’re contemplating streamlines your intelligence to boost what works whereas repairing what doesn’t.

Issue 3: Is it dependable, credible, and reliable?

Aggressive intelligence professionals know the significance of retaining firm information secure, and with the rise of artificial intelligence (AI) and new language studying fashions (LLMs), it’s essential to make sure your aggressive intelligence companies are each credible and personal to you. You have to be cautious using generative AI as a result of you’ll be able to’t afford to present dangerous data to stakeholders, so should use solely credible sources. Supply transparency is a should when evaluating any new resolution. As well as, you should make certain the paperwork you’re importing, the stories you’re producing, and the intelligence you’re filtering received’t be saved and utilized by anybody else however you. 

Issue 4: Does it improve the info you’re utilizing?

Take into consideration whether or not or not a possible aggressive intelligence device or service makes data wrangling an environment friendly course of. With it, how a lot time will you spend monitoring down information versus really strategizing? Positive, gathering data collectively after which data cleaning it’s a part of aggressive intelligence. However what if there was an answer on the market that did the heavy lifting for you in the case of information wrangling?

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Nexis+ AI^TM for Aggressive Intelligence

Think about Nexis+ AI when answering the 4 components we simply outlined. As a decision intelligence platform utilizing generative AI to rework firm analysis, Nexis+ AI offers you entry to a various vary of information units, streamlines analysis, improves collaboration, and enhances your information. It combines trusted content material sources with an expertise that simplifies and enhances your competitor analysis workflow in ways in which prevent time. Right here’s the way it measures up.

International breadth and depth of information

No different service or device has LexisNexis’ assortment of firm, information, legal, and patent data. With Nexis+ AI, you’ll be able to search into firm and information information for greater than 1,000,000 companies, decreasing the necessity to bounce between instruments or manually pull data from an enormous array of sources. With firm profiles with a view of the most recent firm stories, media, and filings, all from a single display. Plus, Nexis+ AI instruments allow you to achieve perception from information and lengthy paperwork sooner utilizing AI-powered perception technology.

A extra environment friendly and efficient intel analysis workflow

Nexis+ AI streamlines and simplifies your current workflow—so you’ll be able to set up, analyze, and share your findings all inside a single information workspace.

Optimize your workflow rapidly, effectively, and comprehensively by having the ability to:

• Gather vital findings and demanding data in a single place
• Rapidly decide if an article is value studying by utilizing AI-generated information article summaries 
• Acquire perception from lengthy paperwork sooner utilizing AI-powered evaluation to disclose perception
• Retailer quotes, perception and sources in seconds, to make it simpler to craft the narrative of your evaluation
• Generate stories utilizing the analysis you’ve curated, and even embrace automated citations for simple referencing
• Use customized outlines to tailor the generated report in response to the sources and findings you need highlighted, making your generated first draft extra related to the story you wish to inform

Should you’re prepared to rework your aggressive intelligence capabilities, learn more about how Nexis+ AI can empower your team to get good quick on companies that matter to you—from sources you’ll be able to belief.