Competitive Intelligence: Analytical Tools Turn Competitive Information into Strategy.

Business Editors

CHAPEL HILL, N.C.--(BUSINESS WIRE)--Jan. 7, 2004

Global leaders are rediscovering the importance of transforming competitive intelligence (CI) information into actionable recommendations through the use of analytical tools, according to a new study conducted

"Managing the Competition: Turning Competitive Intelligence into Strategy," now available at http://www3.best-in-class.com/rr322.htm, highlights the value of strategic recommendations based on analysis of competitive information. Examples of the study's best practices in analytical tools include:

-- One benchmarked company regularly conducts wargaming exercises

to develop contingency plans that handle possible future

scenarios. By having a previously developed plan of action,

the company can move quickly in response to competitors'

actions.

-- Another company builds a comparative matrix purchased from an

external vendor that allows the group to look at various

market drivers and measure the impact on both the company and

its competitors.

The new study is the result of exclusive interviews with 29 competitive intelligence and marketing executives at 18 global companies. In addition to information regarding analytical tools used by top companies, the report also details:

-- CI structures, roles, responsibilities, and reporting

relationships

-- Information collection, communication, and management methods

-- Performance measurement systems

-- Benchmark partner case studies

-- Comparison matrix of companies' CI operations

"During economic downturns, excellent competitive intelligence efforts can be the differentiating factor in the marketplace," explains Paul Meade, vice president at Best Practices, LLC. "In order to pull ahead, companies need to successfully gather and analyze competitive information, and subsequently implement strategic decisions based on that analysis."

Download a free summary of "Managing the Competition: Turning Competitive Intelligence into Strategy" at http://www3.best-in-class.com/rr322.htm. For more information about this report or other benchmarking reports, contact Susan Silverstein at (919) 767-9251 or at ssilverstein@best-in-class.com.

ABOUT BEST PRACTICES, LLC

Best Practices, LLC is a research and consulting firm that conducts work based on the principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class organizations. For more information, call 919-767-9251 or visit http://www.best-in-class.com.