How to create valuable insights within your company

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How to create valuable insights within your company. Start by looking inside

This article is a called how to create valuable insights within your company and discusses the importance of collecting, collating and developing your own internal Intelligence network.

Vast external information

Your organisation has access to vast amounts of external information like online media, company databases, newspapers, industry-specific website sites, analytical market research reports and the world wide web. The problem is that there is so much information. Perhaps too much information. Too much data dressed as up as Intelligence to sell an online tool. And it’s getting so much more challenging to find the right information at the correct times. That’s before spending more time on analysing the data to create actual Intelligence.

Develop your Intelligence network

You have to spend the time getting to know people within and outside your organisation. You need to put the effort in by developing your Intelligence network. Just like what real spies do. To reduce the amount of unused data, it’s wise to get the rest of the company to help you sift and refine it. For example, you hear that your competitor has appointed a new sales director. Is there anyone in your business or surrounding network who knows them personally? Can they tell you how they think and what makes them tick? Their track record and how they manage and sell? Everyone has habits and tried, and test techniques and this makes people predictable.

Make your life easier

It is crucial to understand who in your business will have the relevant insights to make your life easier and improve your bottom line. Hence, it is important to develop your intelligence network by giving your teams Market Intelligence to help them with their day to day job. And to be a sounding board for their business problems which may reveal more Intelligence subjects you can help them with.

It’s more than just software

Software or a simple spreadsheet is recommended to record what you know, and distribute in a consistent matter but to get them to feel more comfortable. You need face to face meetings in a group and one to one settings. Resist emailing people a piece of Intelligence when a little bit of effort will allow you to pop your head around the door.

Finally

I guess what I am trying to say is that Competitive Intelligence is not something you can do when you have the odd 10 minutes spare. Buying the best software in the world will not help you if you don’t put the work in. Or as they say in some circles crap in — crap out. And yes we can help with this, but that’s not the purpose of the article.

About Octopus Intelligence

Octopus is a global Intelligence service company. Answering the questions to help you grow

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We help you beat your competitors, increase revenue, protect equity investments, reduce uncertainty and risk with Competitive Intelligence & Due Diligence

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