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Why do smart companies fail in making the right decisions?

 

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Top management is often removed from local operational situations.

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There is difficulty in adjusting expectations and assumptions about the structure of industry and competition, resulting in failure to implement time-critical strategies.

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Companies lack a continuous flow of real-time actionable intelligence.

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There exists a weak framework for identifying strategic benefits and risks.

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An overwhelming amount of information now exists, and identification of pertinent business intelligence data consumes a disproportionate amount of resources.

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The lack of a systematic approach to gather, analyze   and convert  information into intelligence, and convey to decision makers results in a loss of competitive advantage.

 

What are common misconceptions about business intelligence?

 

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Competitive intelligence and market research are the same.

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Competitive intelligence and competitor Intelligence are the same

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Competitive intelligence is spying.

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There is little available information on private companies.

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The best industry information comes from within the respective industry

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Few decisions require business intelligence.

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Information is too costly.

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Information is free.

 

Where is business intelligence most frequently used?

 

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Strategic information resource

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Competitor activities monitoring

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Prospect, customer, vendor, and other external monitoring

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Operational performance benchmarking

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Sales and marketing support

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Executive decision-support and strategic planning

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Internal knowledge management

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Mergers, acquisitions, and partner analysis

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Long-term market determination

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Counterintelligence and information security

 

 

Global Consulting Network members provide strategic and tactical intelligence to corporations to strengthen their competitive advantages. Our worldwide network, spanning a wide range of industries, can act as a virtual corporate business intelligence center for your organization.  In addition, our members are skilled in providing the training to set up company decision-based intelligence units.

 
 
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