Netbase Quid: In today’s tough business climate, forewarned is forearmed, and it’s critical to have the competitive intelligence you need to stay a step ahead. Competitive intelligence can be defined as any information that helps keep your brand or organization from being caught off guard. Of course, you need intelligence about what your competition is up to, but you also need to know where your industry is headed, what the market will do, how consumers are responding to your products, and more.
Tactical versus strategic
The type of competitive intelligence you want depends on what industry you are in. For example, if you are competing in an industry that is heavily regulated by the government, then it’s critical to know about any relevant legislation that could affect how you do business.
Of course, it’s important to acquire competitive intelligence in an ethical manner; the term doesn’t mean the same thing as spying or espionage. Having said that, it’s entirely possible to find information that hasn’t been published with the intent of being viewed by many people.
Tactical intelligence is gathered to make decisions about short-term issues. For example, you may want to figure out how to increase the income in the next financial quarter that a product is bringing in. Strategic intelligence is all about long-term planning. You might gather long-term intelligence, for example, on another company to decide whether it is worth acquiring somewhere down the road.
Gaining competitive intelligence goes far beyond doing a simple internet search. The amount of data that is available today in the information age is astounding, but you need the right tools to harvest it and then make sense of it. Software such as that offered by Netbase Quid allows you to gain competitive intelligence on pretty much anything you want. Netbase Quid software scours the internet for information that’s pertinent to your brand, and then it uses its powerful computers and machine-learning algorithms to analyze all that it has gathered and given the user insights.
The right tools
NetBase Quid gives you the information that you need to make informed decisions when you need it. During a crisis, for example, you can use NetBaase Quid software to track what consumers are saying on social media and elsewhere to see whether you’re dealing with a storm that will blow over or a storm that will destroy your brand if you don’t take action.
The software also gathers information that is invaluable in planning any kind of marketing campaign. You’ll know exactly what consumers want to see and hear, and you can give it to them. Once your campaign is launched, you’ll learn in real-time just how it is going and be able to adjust accordingly.
Read Also: What Are the Best Drive Punching Machines
Netbase Quid is used by enormous companies such as Coca-Cola, but it is also equally useful to smaller brands. Market intelligence is important to account for how your business researches. This is a platform that essentially customizes itself for whatever you need it for. It’s impossible to put a price on being fully informed because it gives you a sense of security about every decision you make. While it’s impossible to eliminate risk, intelligence software can definitely help reduce it.
Not only can you use Netbase Quid to see how your brand is doing, but you can also use the same tools to analyze the competition. For example, if a rival firm has put a new product on the market, and you are wondering how it is doing, then you can turn to this platform to find out. You’ll basically get the same insights into your competition as your competition has, and that’s invaluable.