How does Competitive Intelligence show it’s all a big lie?
Many refer to the valuation of managed data as ‘the new oil’. The exponential increase in data capture is associated with our digital transactions. It’s the cornerstone of the future. The expected monetisation of every human transaction for a speculative investment possibility. But is this really the answer to obtaining meaningful insights? This article asks how does Competitive Intelligence shows it’s all a big lie?
As a result, you have to get ready for a whole plethora of companies approaching you with product offers. As they seek to leverage your data for a monetary incentive. In doing this, it’s evident that the providers are themselves brokering our data. And looming it into massive data feeds that fuel the new marketplace.
Here is a list of all the tracking associated with a single online search for the British Daily Mail. Tracked by companies, it’s unlikely you have heard of. Click here
Paying for your data to be monetised
An observer may conclude that we are paying for our data to be monetised upstream in exchange for the installation of the very software that facilitates this.
It could be that the installed products offer little more than consolidated features that are generally already available in the open market.
Also, this movement suggests a more insidious consequence in the form of de-personalisation. Favouring macros leave little room to interrogate ‘little data’ and micro scrutiny.
Business Competitive Intelligence viewpoint
But what about from a Business Competitive Intelligence viewpoint? There’s little value when compared to investigating the specifics of a competitor or market. Granted, volume tracking of product penetration and so forth is interesting. Except it’s already easy to accumulate information without linking your organisations’ activities.
What is Competitive Intelligence?
Competitive intelligence is the finding, sorting and critical analysis of information. To make sense of what’s happening and why. Predict what’s going to happen and give the options to help you control the outcome. Competitive intelligence offers certainty, competitive advantage, insight, growth & security.
Be aware that the likelihood is that you are sanctioning access to every part of your business. Any material gain could be overshadowed by the effects of every aspect of your business being tracked to fuel the new investment game. That’s the making money from prediction and forecasting your (and everyone elses) every move.
At Octopus, we have built our success on personal attention to our client needs. And applying expertise through bespoke, unique and discreet services where privacy is sacrosanct.
Our goal is to provide the real insights that come from human-to-human interaction. And the application of intuition, empathy and intelligent scrutiny to actual objectives that provide advantage and future-proofing to our clients.
White elephants are not cool
We are far from regressive when it comes to the utilisation of technology. In fact, we invest heavily in sourcing the best tools that work as part of our combined and often complex service mix. We have trialled hundreds of software products. And we retain the ones that best serve our mission needs. So you are not lumbered with expensive ‘white elephants’ that very quickly don’t get used. Same as the access to online databases. Even the one’s which claim to be AI driven. More than ever, the application of Intelligence in the business model is paramount.
But business is not just about data. It’s a lie. Business has to be about Intelligence or, indeed, insight. Creating more certainty to give you the confidence to make the right decisions. A decision that will create a competitive advantage. A competitive advantage allows you to grow and earn money to pay your costs and make a profit. It helps you avoid surprises too. Data is only one part of it.
Data is powerful
And looking back at Data is very powerful. Data may tell you that you will see Salisbury Cathedral if you stand on a specific roof. But when you stand on the roof, you can’t see it because the weather conditions are not right. Or the atmosphere is too polluted. Intelligence tells you to get in your car, use a map to drive to Salisbury. Find the Cathedral and lookup.
Octopus Intelligence is committed to delivering bespoke solutions across critical areas of business. Areas include competitive insight, win/loss and pre-M&A due diligence. New market investigation and market surveillance. And a range of troubleshooting options for situations not part of your business plan.
How does Competitive Intelligence show it’s all a big lie?
So yes, it’s a big lie that business is just about data. Business has to be about Intelligence or, indeed, insight. It is about creating more certainty to give you the confidence to make the right decisions. And in turn more competitive advantage. We would welcome your comments on this article which was called how does Competitive Intelligence show it’s all a big lie?
| Octopus is a Competitive Intelligence and Strategy consulting firm focused on creating certainty, insight, competitive advantage and significant growth for clients operating in disruptive and traditional sectors. #octopusintell