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The Evolution Of Competitive Intelligence Dec09 Final


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This presentation was part of the conference agenda for London Online in December 2009. It provides a high level overview of the way competitive intelligence analysts have benefitted from the evolving Web. It also provides a brief view of the next area of development, Semantic Search

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The Evolution Of Competitive Intelligence Dec09 Final

  1. 1. Competitive Intelligence & the Evolving Internet Victor Camlek Vice President Market Intelligence Thomson Reuters Presentation at Online,London December 3, 2009
  2. 2. AGENDA <ul><li>What is Competitive Intelligence? </li></ul><ul><li>Required Skills and Training </li></ul><ul><li>The CI Process </li></ul><ul><li>Information: The Lifeblood of CI </li></ul><ul><li>Sample CI Web Searches – Fee & Free </li></ul><ul><li>Social Networking & CI </li></ul><ul><li>Semantic Search: The Next Frontier </li></ul><ul><li>Conclusion </li></ul>
  3. 3. What Is Competitive Intelligence? <ul><li>Process of monitoring the competitive environment </li></ul><ul><li>Enables informed strategic decision making </li></ul><ul><li>Supports tactical sales needs </li></ul><ul><li>SCIP’s definition: “Effective CI is a continuous process involving the legal and ethical collection of information, analysis that doesn’t avoid unwelcome conclusions, and controlled dissemination of actionable intelligence to decision makers ” 1 </li></ul><ul><li>Specifically tasked CI pros </li></ul><ul><li>Product managers </li></ul><ul><li>Financial analysts </li></ul><ul><li>Librarians/Info pros </li></ul><ul><li>Knowledge bearers </li></ul><ul><li>Technology experts </li></ul><ul><li>Management teams </li></ul><ul><li>Business analysts </li></ul><ul><li>Etc. </li></ul>CI is not “just” a department. It is a culture that permits a group of officially tasked individuals to work proactively with a community of knowledge bearers and leaders in an environment where no one person knows all the answers, but everyone contributes to finding the solution and achieving a consensus for action! 1 SCIP definition as seen online at Definition Who does it?
  4. 4. AGENDA <ul><li>What is Competitive Intelligence? </li></ul><ul><li>Required Skills and Training </li></ul><ul><li>The CI Process </li></ul><ul><li>Information: The Lifeblood of CI </li></ul><ul><li>Sample CI Web Searches – Fee & Free </li></ul><ul><li>Social Networking & CI </li></ul><ul><li>Semantic Search: The Next Frontier </li></ul><ul><li>Conclusion </li></ul>
  5. 5. Required Skills and Personal Attributes <ul><li>Competitive intelligence-gathering techniques </li></ul><ul><li>Business acumen (including: financial, economic and market expertise) </li></ul><ul><li>Expert knowledge of a particular market, product or industry </li></ul><ul><li>Quantitative and/or qualitative skills </li></ul><ul><li>Competitive analysis techniques [various frameworks] </li></ul><ul><li>Expert research skills or ability to direct others to find what is needed </li></ul><ul><li>Intense curiosity and drive to thoroughly complete projects </li></ul><ul><li>Perseverance, diligence and outstanding patience </li></ul><ul><li>Interpersonal networking capabilities </li></ul><ul><li>Impeccable ethical grounding </li></ul><ul><li>Ability to take calculated risks while being aware of the consequences </li></ul><ul><li>Excellent communication skills [via reports, presentations and meetings] </li></ul><ul><li>Willingness to listen and constantly learn new things </li></ul><ul><li>Strong memory </li></ul><ul><li>Some degree of helpful cynicism </li></ul><ul><li>Above all: outstanding judgment and common sense </li></ul>Tangible Skills Personal Attributes
  6. 6. AGENDA <ul><li>What is Competitive Intelligence? </li></ul><ul><li>Required Skills and Training </li></ul><ul><li>The CI Process </li></ul><ul><li>Information: The Lifeblood of CI </li></ul><ul><li>Sample CI Web Searches – Fee & Free </li></ul><ul><li>Social Networking & CI </li></ul><ul><li>Semantic Search: The Next Frontier </li></ul><ul><li>Conclusion </li></ul>
  7. 7. The CI Process A Normally Accepted View of the CI Workflow: <ul><li>Workflow components </li></ul><ul><li>Understand requirements </li></ul><ul><li>Provide planning and direction </li></ul><ul><li>Discover, collect & validate data </li></ul><ul><li>Process findings </li></ul><ul><li>Analyze results </li></ul><ul><li>Prepare report </li></ul><ul><li>Disseminate as appropriate </li></ul><ul><li>Follow-up as needed </li></ul>Source: Diagram based on
  8. 8. CI: Value-Added Services Drive Action Data Synthesis Analysis Findings & Recommendations Market Actions <ul><li>Analysis </li></ul><ul><li>Market authority files </li></ul><ul><li>Competitive assessments </li></ul><ul><li>Deep dive CI </li></ul><ul><li>FECS </li></ul><ul><li>Presentations </li></ul><ul><li>Impact alerts </li></ul><ul><li>Executive Services </li></ul><ul><li>Analyst outreach </li></ul><ul><li>Go-to for market views </li></ul><ul><li>FECS </li></ul><ul><li>Executive meetings </li></ul><ul><li>Competitive War Games </li></ul><ul><li>Trusted advisor </li></ul><ul><ul><li>Opinions </li></ul></ul><ul><ul><li>Project readouts </li></ul></ul><ul><ul><li>Impact assessments </li></ul></ul>Standard Service Profile Special Projects Expert Services <ul><li>Facts and Summaries </li></ul><ul><li>Tearsheets </li></ul><ul><li>Industry/market scans </li></ul><ul><li>Bio’s </li></ul><ul><li>Expert searches </li></ul><ul><li>Ad hoc inquiries </li></ul><ul><li>Fact-based responses </li></ul><ul><li>Alerts </li></ul>Basic Services Projects Special Services
  9. 9. AGENDA <ul><li>What is Competitive Intelligence? </li></ul><ul><li>Required Skills and Training </li></ul><ul><li>The CI Process </li></ul><ul><li>Information: The Lifeblood of CI </li></ul><ul><li>Sample CI Web Searches – Fee & Free </li></ul><ul><li>Social Networking & CI </li></ul><ul><li>Semantic Search: The Next Frontier </li></ul><ul><li>Conclusion </li></ul>
  10. 10. CI Professional Search Requirements <ul><li>Legal documents or required filings </li></ul><ul><li>Business or market research reports </li></ul><ul><li>Public or high impact speeches and presentations </li></ul><ul><li>Use when there is no margin for error </li></ul><ul><li>Access to a network of recognized experts </li></ul><ul><li>Information from market research and consulting services </li></ul><ul><li>Quotations from recognized sources </li></ul><ul><li>Official biographies or official metrics of any kind </li></ul><ul><li>Must use techniques that enable pinpointing of relevant information </li></ul><ul><ul><li>Strong knowledge of various sources and when it is appropriate to use them </li></ul></ul><ul><ul><li>Ability to maximize use of high caliber abstracts </li></ul></ul><ul><ul><li>Ability to use appropriate key words within various technical or business searches </li></ul></ul><ul><li>Provide a well-defined search roadmap </li></ul><ul><li>Recognize when you’re “done” with a search or particular source </li></ul><ul><li>Manage multiple projects at one time </li></ul>Authoritative Sources Value-added Information Targeted Search Time Management
  11. 11. Some Guiding Principles <ul><li>Requires thorough due diligence </li></ul><ul><li>May directly influence decisions, investments as market actions </li></ul><ul><li>The successful expert will navigate an array of sources based on an end-point strategy </li></ul><ul><li>Today’s information technology permits a variety of approaches </li></ul><ul><li>The “Google™” or Web search provides many potential positive outcomes </li></ul><ul><li>Some tasks require a more targeted search </li></ul><ul><li>Advanced search options and techniques provide: </li></ul><ul><ul><li>Defined coverage sets (known source, subject, and range of years) </li></ul></ul><ul><ul><li>A taxonomy to improve chances to achieve desired results </li></ul></ul><ul><ul><li>Searchable codes </li></ul></ul><ul><ul><li>Defined navigation techniques </li></ul></ul><ul><ul><li>Abstracts or full text </li></ul></ul><ul><ul><li>Ways to “de-duplicate” result sets </li></ul></ul><ul><ul><li>Ways to retain search strings </li></ul></ul><ul><ul><li>More control on the part of the searcher </li></ul></ul>The CI Task Sources
  12. 12. Search Engines vs. Professional Databases <ul><li>Possibility of finding literally anything </li></ul><ul><li>Multiple formats may be found </li></ul><ul><ul><ul><li>Images </li></ul></ul></ul><ul><ul><ul><li>Video </li></ul></ul></ul><ul><ul><ul><li>E-mails </li></ul></ul></ul><ul><ul><ul><li>PowerPoint's </li></ul></ul></ul><ul><ul><ul><li>Spreadsheets </li></ul></ul></ul><ul><ul><ul><li>PDF’s (books, brochures) </li></ul></ul></ul><ul><li>Published and non published items are available </li></ul><ul><li>Expert searches yield useful and usable items </li></ul><ul><li>Can mimic primary intelligence </li></ul><ul><li>Order and specificity </li></ul><ul><ul><ul><li>Taxonomies </li></ul></ul></ul><ul><ul><ul><li>Codes </li></ul></ul></ul><ul><ul><ul><li>Thesauri </li></ul></ul></ul><ul><ul><ul><li>Published Lists of Sources </li></ul></ul></ul><ul><li>Stronger advanced search capabilities </li></ul><ul><ul><ul><li>Formats </li></ul></ul></ul><ul><ul><ul><li>Selectivity </li></ul></ul></ul><ul><ul><ul><li>Limitations (de-duplication) </li></ul></ul></ul><ul><li>Generally invisible from the crawlers and spiders </li></ul><ul><li>Better suited for official reports, and business or legal documents </li></ul>Positive Aspects of Search Engines Positive Aspects of Expert Databases Bottom Line: Use all resources at your disposal to provide value!
  13. 13. The Theory of The Three F’s <ul><li>Accurate information that remains applicable </li></ul><ul><li>Endorsed metrics, statistics, status data and demographics </li></ul><ul><li>Accurate quotations </li></ul><ul><li>Information that can be analyzed for subsequent input to decisions </li></ul><ul><li>Rumors (until verified) </li></ul><ul><li>Word from the field that needs to be verified </li></ul><ul><li>Trial balloons and self fulfilling manipulations </li></ul><ul><li>Not accurate </li></ul><ul><li>Not true </li></ul><ul><li>Not about to become true </li></ul><ul><li>Yet it could be wide spread </li></ul><ul><li>A major competency of CI pros is the ability to validate info based on: </li></ul><ul><li>Knowledge of sources </li></ul><ul><li>Fact-checking due diligence </li></ul><ul><li>A network of knowledge bearers </li></ul><ul><li>Healthy skepticism </li></ul><ul><li>“ Garbage in, garbage out!” </li></ul>Facts Folly Fables
  14. 14. AGENDA <ul><li>What is Competitive Intelligence? </li></ul><ul><li>Required Skills and Training </li></ul><ul><li>The CI Process </li></ul><ul><li>Information: The Lifeblood of CI </li></ul><ul><li>Sample CI Web Searches – Fee & Free </li></ul><ul><li>Social Networking & CI </li></ul><ul><li>Semantic Search: The Next Frontier </li></ul><ul><li>Conclusion </li></ul>
  15. 15. Sample CI Search: Public Company Data Financial Comparisons Value: Good one-stop entrée to various points of additional data: news, charts, filings, comparisons, etc. Info Source: Yahoo! Finance
  16. 16. Sample CI Search: Private Company Data Challenge: Often difficult to obtain or corroborate Annual Sales estimates Info Source: OneSource
  17. 17. Sample CI Search: Detailed Company Info Time Saver: One-stop access to Filings, Investor Reports, Spreadsheet Financials Info Source: Thomson Research
  18. 18. Sample CI Search: Targeted Product Data Info Source: Thomson Pharma Request: Find detailed company & product info for a particular pharma co Result: Spot-on document with precise info from a recognized source
  19. 19. Sample CI Search: Biographical Data Info Source: Google Sample task : Use Google’s various capabilities to build a quick profile Google Blog Search Google News Search Google Image Google Web Search
  20. 20. Sample CI Search: Macroeconomic Data Info Source: Chart based on data from IMF World Economic Outlook database , accessed October, 2009 Annual GDP Growth (at constant prices) Percent The IMF’s World Economic Outlook database is freely available and provides macroeconomic data that can be used to chart trending data
  21. 21. Sample CI Search: Country-level Data Info Source: CIA World Factbook , accessed November 17, 2009 The World Factbook from the CIA can be a good starting point for country-specific info on the geography, the economy, demographics, the government, etc.
  22. 22. Sample CI Search: Specific Business Topic Info Source: Dialog Request: Find articles on business success in China <ul><li>Time Savers: </li></ul><ul><li>Key Words & Concept Terms help focus search </li></ul><ul><li>Full text accessible </li></ul><ul><li>Full citation </li></ul>Concept Terms: All government; All market information; Industry forecasts; Marketing campaign; New laws Geographic Names: China (CHI); European Union (EUCX); Pacific Rim (PARX); Southern & Eastern Asia (SSAX); United Kingdom (UNK); Western Europe (WEEX)
  23. 23. AGENDA <ul><li>What is Competitive Intelligence? </li></ul><ul><li>Required Skills and Training </li></ul><ul><li>The CI Process </li></ul><ul><li>Information: The Lifeblood of CI </li></ul><ul><li>Sample CI Web Searches – Fee & Free </li></ul><ul><li>Social Networking & CI </li></ul><ul><li>Semantic Search: The Next Frontier </li></ul><ul><li>Conclusion </li></ul>
  24. 24. Social Networking & CI <ul><li>At face value, social networking sites can provide information that was unavailable in the past </li></ul><ul><ul><ul><li>E.g. LinkedIn, Jigsaw or Plaxo can provide info on positions and specific tasks or projects within a company, as well who performs those jobs </li></ul></ul></ul><ul><ul><li>At a minimum, these tools can also help identify “knowledge bearers” that could be potential ethical interview candidates for projects where primary research is needed </li></ul></ul><ul><ul><li>However, data is user-generated, so remember the Three Fs: harder to know if content is Fact, Fable or Folly </li></ul></ul><ul><li>Also, companies must be aware of potential risks as employees generate content about themselves that could reveal confidential information or projects </li></ul><ul><ul><ul><li>In some companies, it is part of the CI role to provide training support as part of employee briefings and orientation sessions on best practices for information protection </li></ul></ul></ul>
  25. 25. Professional STM Social Networking
  26. 26. Sample CI Search: Using Social Networking <ul><li>LinkedIn provides info on: </li></ul><ul><li>Companies </li></ul><ul><li>Employees / Org structure </li></ul><ul><li>Links to news </li></ul><ul><li>Even a Q&A section – are your competitors asking interesting questions? </li></ul>
  27. 27. AGENDA <ul><li>What is Competitive Intelligence? </li></ul><ul><li>Required Skills and Training </li></ul><ul><li>The CI Process </li></ul><ul><li>Information: The Lifeblood of CI </li></ul><ul><li>Sample CI Web Searches – Fee & Free </li></ul><ul><li>Social Networking & CI </li></ul><ul><li>Semantic Search: The Next Frontier </li></ul><ul><li>Conclusion </li></ul>
  28. 28. Semantic Search: “Web 3.0” <ul><li>Semantic tools use natural language processing and/or entity extraction to attempt to achieve a more knowledge-based search result </li></ul><ul><ul><ul><li>Generally, semantic tools aim to provide answers , rather than long lists of results/hits </li></ul></ul></ul><ul><ul><li>Numerous vendors are already offering semantic services, while official technical committees aim to develop protocols and industry standards </li></ul></ul><ul><li>There is potential in the near-term for more accurate search results as semantic services evolve </li></ul><ul><ul><ul><li>These advances could result in more precise findings and time-savings that can be spent on analysis & reporting </li></ul></ul></ul><ul><li>Web 3.0 will continue to evolve over time and CI pros need to keep up-to-date with developments </li></ul>
  29. 29. Semantic Search: We’re Still in an Early Phase Site itself states: “ You can expect some great answers to health-related questions. And you can expect to see some strange results too – that’s just the nature of the Web.” An example of the exciting potential for semantic search, but still includes a “disclaimer” from the vendor.
  30. 30. AGENDA <ul><li>What is Competitive Intelligence? </li></ul><ul><li>Required Skills and Training </li></ul><ul><li>The CI Process </li></ul><ul><li>Information: The Lifeblood of CI </li></ul><ul><li>Sample CI Web Searches – Fee & Free </li></ul><ul><li>Social Networking & CI </li></ul><ul><li>Semantic Search: The Next Frontier </li></ul><ul><li>Conclusion </li></ul>
  31. 31. In Summary: Derive the Best Value from All Tools <ul><li>Premium tools remain critical components of a search repertoire </li></ul><ul><li>Help target precise information and standard source documents </li></ul><ul><li>CI professional searches require thorough due diligence </li></ul><ul><li>Provide a differentiator from what anyone with a browser can consistently achieve </li></ul><ul><li>A valuable component of the search repertoire </li></ul><ul><li>Strong knowledge of Web sources and techniques is vital </li></ul><ul><li>Validation techniques are mission-critical </li></ul><ul><li>The good news: You never know what you may find </li></ul><ul><li>The bad news: You never know what you may find </li></ul><ul><li>Traditional CI competencies continue to be required in today’s environment </li></ul><ul><li>It’s All About Information that is accurate, timely and quotable </li></ul><ul><li>Quality of information is crucial to the success of a CI practitioner </li></ul><ul><li>Time management is another critical element of success </li></ul><ul><li>There are more information choices available than ever before: Know how to maximize your strategy </li></ul>Traditional, Fee-based Tools CI in the Search Engine Era The Web
  32. 32. Conclusion <ul><li>There is more information available than ever </li></ul><ul><li>Progress in Technology will continue to advance the way that we access and manipulate the growing pool of information as it also continues to evolve </li></ul><ul><li>Ultimately, the trained CI / professional information expert, offers significant value by virtue of critical attributes such as: </li></ul><ul><ul><ul><li>Domain expertise </li></ul></ul></ul><ul><ul><ul><li>The ability to navigate a vast universe of sources </li></ul></ul></ul><ul><ul><ul><li>The capability to validate and qualify information </li></ul></ul></ul><ul><ul><ul><li>The capability to transform information into a meaningful and actionable analysis that is embraced by senior leadership </li></ul></ul></ul><ul><ul><ul><li>A role that permits the practitioner to function as a “trusted advisor” to various business leaders </li></ul></ul></ul><ul><ul><ul><li>Above all, a functional role that helps a company to make critical decisions based on a solid, ethical and objective fact base. </li></ul></ul></ul>