Creating a structured and disciplined competitive intelligence (CI) system within your organization is critical to leveraging market instights and keeping your competitors off-balance. Understanding what a competitive intelligence system is, why you need to develop a CI system, and the benefits will ensure you are not caught off-guard by unexpected competitive actions.
One of the key responsibilities for Product Managers is to establish and maintain competitive advantage for their products in the marketplace. Good intelligence about the industry and the competition give Product Managers and the teams they work with the edge and expertise to strategize and act with purpose and clarity. The more Product Managers know about their industry and the competition, the greater credibility they have as leaders.