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Business intelligence vs. competitive intelligencedimanche 3 mai 2015
In today’s fast-paced business world, the sheer number of terms (and their associated acronyms) is enough to baffle even the most seasoned professional. It doesn’t help that many terms that sound similar are used interchangeably, even when they refer to vastly different concepts.
Case in point ? Business intelligence and competitive intelligence. On the surface, it seems like they are the same thing – and in fact, they serve a similar purpose, in that they help guide decision-making – but they actually refer to separate functions and types of data. Failing to understand the difference between them could result in a great deal of wasted time and effort, not to mention embarrassment if you present the wrong information to your boss or a client.
Business intelligence is, largely, analysis of an organization’s internal data. It involves collecting large amounts of raw data regarding all aspects of the business, from productivity to profits and losses, and transforming it into actionable insights. Companies use business intelligence as a means to identify and develop new business opportunities, and make improvements to existing processes, products, and services.