Artificial Intelligence Tech 2024-08-13T18:31:05Z Replika lets you buy an AI girlfriend or boyfriend — and its average user age is surprising
Replika CEO Eugenia Kuyda said the app’s users are “mostly 35-plus and super engaged.” Some people have formed deep bonds with their AI companions.
Tech 2024-08-13T13:40:11Z AI and security concerns fuel a shift to on-premises IT infrastructure as companies seek more control of data
AI, data privacy, and security concerns are pushing companies to adopt hybrid IT infrastructure that combines on-prem hardware with cloud services.
TARGIT – BI Survey
The US and some of its allies just pulled off a milestone first by letting AI target enemies like it would in a war
The trial, led by the US Army, was the first time AUKUS members used AI in a simulated battlefield environment akin to a real conflict.
It looks like Sam Altman is dropping hints about OpenAI’s next big thing
Strawberry aims to give OpenAI’s tech autonomous internet navigation and deep research capabilities, according to a Reuters report.
TARGIT Software Reviews, Demo & Pricing –
3 in 4 workers say AI reduced productivity and increased workloads, survey finds
A recent survey found that workers were spending more time reviewing AI content or learning how to use the tools.
Everything we know about how finance giants are adopting AI, from Goldman Sachs to Blackstone
Finance’s biggest firms are considering how AI might impact jobs, how it could cut costs, and reduce “grunt work.”
TARGIT Decision Suite LinkedIn
Tech 2024-08-07T18:58:33Z OpenAI’s brain drain isn’t a great look for Sam Altman
OpenAI is losing key members like cofounder John Schulman to rivals, adding to challenges in the AI market and trust issues for CEO Sam Altman.
A CMO tried Google’s AI tools and stopped using many of them
The executive has been using Google’s Performance Max, Smart Bidding, and Gemini. These are their findings.
TARGIT Decision Suite Business Intelligence & Analytics Tool
AI was supposed to revolutionize customer service. Morgan Stanley’s interns aren’t buying it.
The bank surveys its interns on their technology habits and views. What they said about AI customer service is another warning for the tech industry.
Meta’s AI keeps pretending to be me and giving my phone number out to strangers
A weird tech glitch with the new Meta AI chatbot highlights the thorny legal and ethical issues facing AI today.
The GenAI jitters: Is there enough demand for $1 trillion in AI spending?
When you build a lot of new AI data centers, it’s very hard to undo that if end-demand turns out to be weaker than expected.
Tech 2024-08-02T21:09:15Z Google, Netflix, and OpenAI execs are hosting a fundraiser for Kamala Harris
Kamala Harris has friends in high-tech places as execs from Google, Netflix, and OpenAI organize a fundraiser for the Democratic presidential hopeful.
The New York Times and other top news sites block OpenAI’s new SearchGPT web crawling bot
The startup launched a new search engine last week. Some top publishers have already made clear that they want nothing to do with the new product.
Tech 2024-08-02T18:00:24Z Meta, Amazon, and Alphabet are spending big in a battle to dominate AI. It might not end well.
Big Tech giants concede that AI is costing huge sums of money with little return on investment right now. But they say it’s worth the risk.
Why workers who lose their jobs to AI might not stay unemployed for long
The AI boom won’t follow the same path as the US’s manufacturing decline, an economist says. Workers will have a better chance of finding new jobs.
Play Icon A triangle pointing right. It indicates that this type of media can be played or that the linked content is playable. CMO Insider 2024-08-01T20:59:29Z Play icon A circle surrounding a triangle pointing right. It indicates, “this type of media can be played.” How American Express, DoorDash, JP Morgan Chase, and more are using AI to improve business
CMOs from major brands reveal how their companies are using AI and its positive impact on the business.
Reddit has acquired an AI startup to beef up its ad business in a deal worth around $40 million
Reddit hopes its purchase of Memorable AI will boost the performance of advertising on its platform.
Meta scraps celebrity AI chatbots after less than a year, despite reportedly paying top creators as much as $5 million
Meta is shifting focus to its new AI Studio, which lets users create their own AI bots.
Amazon has discussed a ‘DoctorAI’ tool to automate routine healthcare tasks
In a leaked document from late 2023, Amazon’s One Medical team discussed their most disruptive ideas. One was a ‘DoctorAI’ large language model.
A CIO canceled a Microsoft AI deal. The reason should worry the entire tech industry.
The pharmaceutical company IT exec said Microsoft’s Copilot AI tools were not worth the extra money.
Business Intelligence vs. Competitive Intelligence: What’s the Difference? Business Intelligence vs. Competitive Intelligence: An Overview
Competitive intelligence is the act of understanding a company’s industry and industry rivals so the company can make better business decisions.
Business intelligence refers to the tools, software, and systems that play a vital role in the strategic planning process of a company.
Key Takeaways Competitive intelligence is the outward-focused analysis of a business’s competitors to identify advantages and potential strategies.In contrast, business intelligence is the inward-focused evaluation of the business’s own data, which can help improve efficiency and growth.Combining both business and competitive intelligence provides a framework for action that can help increase stability, profitability, and success. Competitive Intelligence
Competitive intelligence is an acute type of market research conducted by a business. With competitive intelligence, businesses use the same type of tactics utilized when conducting market research; however, the focus is to answer more target questions rather than review broad market trends. Competitive intelligence can include the knowledge of a competitor’s operations or business partners, as well as a deeper understanding of the industry in which a company operates.
Competitive intelligence is any material information a company possesses that allows it to make better-informed decisions than the average company in its industry. It does so to operate more efficiently. Conducting competitive intelligence allows a company to spot opportunities in the market and beat out its competitors. For example, a company might follow messages on X (formerly Twitter), blog posts, LinkedIn profiles, and email blasts to track what a competitor is doing.
Benefits of Competitive Intelligence Increased marketing efficiency: Your research can help you win back market share or identify target markets that your competitors may have missed.Increased sales: Your sales staff will be able to close more sales when they can position your product competitively against others in the market.Improved products: Competitive intelligence can help your research and development team improve and iterate on your offering.Reduced risk: When you know what tactics your competitors have tried (and failed), you can more easily sidestep pitfalls, focus on proven strategies, and generate growth. Business Intelligence
Business intelligence represents the physical tools and software a company uses to gather intelligence and research. Companies then use that information to make decisions. These tools and software combine to make systems that allow a company to gather, store, and analyze raw business data in a way that helps it make the right decisions.
Business intelligence systems normally operate to collect data in the areas of customer support, market research, competitive intelligence, product performance, and other statistical analyses.
Benefits of Business Intelligence Speed up product design: Evaluate the most popular features and use cases to develop your customers’ ideal product and release it faster. Improved product launches: Metrics can help you improve the performance of your campaigns by identifying the highest-performing pieces and audiences. Improved sales strategies: By analyzing which deals are most effective, the sales team can be trained to close more sales. Strengthened human resources: Evaluating employee data can uncover trends in company culture and employee satisfaction, and even reveal causes for high turnover so you can improve retention. Better executive decision-making: Management can make informed decisions when guiding the direction of the company when it has the best available data. Key Differences
Although both types of intelligence are broadly concerned with increasing sales and growing profitability, there are some differences between business intelligence and competitive intelligence.
Competitive intelligence Business intelligence Outward-facing Inward-facing Improves positioning Improves systems Predicts competitors’ moves Guides the business’s moves Relies on third-party data Relies on internal data How Can Business Intelligence Help You Gain Competitive Advantage?
Business intelligence can help a company gain an advantage in the marketplace by streamlining its operations, reducing inefficiencies, and identifying new sales opportunities. For example, a company can reduce inventory of stock that isn’t selling, replace it with stock with a higher profit margin, and win over customers with improved sales strategies.
How Do Companies Gather Competitive Intelligence?
There are several different ways a company can obtain data about its competitors in the market. Your competitors’ own social media, press releases, and annual reports (as applicable) can give insight into their upcoming moves, as can trade magazines and industry reports. Observing and talking with customers and industry experts can also reveal trends in customer opinion and behavior toward your competitors.
How Do You Do Competitive Intelligence ?
The competitive intelligence process begins with identifying your competitors, their offerings, and their market position. Once you have identified your rivals, you’ll conduct research and gather information. When you have gathered your data, you must analyze it to draw the conclusions that will form the basis of your action plan. At that point, it’s time to execute your plan. Keep in mind that competitive intelligence is an ongoing process, so you’ll need to continue to monitor your competitors if you want to stay one step ahead.
The Bottom Line
Business intelligence is a company’s inward-facing analysis that is focused on improving efficiency, and competitive intelligence is outward-facing research that aims to predict a competitor’s next moves. While both competitive intelligence and business intelligence can help a company prosper, understanding the benefits of each will help you get the best insights.
Transforming Your Organization with the Power of Business Intelligence
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With the ability to drive strategic initiatives, make educated decisions and extract valuable insights from raw data, business intelligence (BI) has become a key enabler for organizational success. BI has revolutionized the way businesses operate and plan for the future in this age of intense competition and rapid technological advancement. One of the most powerful business intelligence tools available, Intellicus has provided tailored solutions to over 17,000 small and large businesses, enabling them to make data-driven decisions.
Understanding Business Intelligence
Business Intelligence (BI) is a technology-driven process that analyzes business data to provide actionable information that informs strategic and operational decisions. It involves collecting, storing, analyzing, and visualizing data to uncover patterns, trends, and insights that drive business performance. It combines internal and external data sources into a logical framework that helps produce insights that can be put into action. Business intelligence is a valuable resource that facilitates managers, executives and stakeholders to make informed decisions.
Business Intelligence (BI) is a technology-driven process that analyzes business data to provide actionable information that informs strategic and operational decisions. It involves collecting, storing, analyzing, and visualizing data to uncover patterns, trends, and insights that drive business performance. Essentially, BI transforms raw data into meaningful information that empowers organizations to make data-driven decisions.
The Four Pillars of Business Intelligence
Data Collection and Integration: Business Intelligence starts with the compilation of information from various sources, such as social media interactions, market trends, consumer profiles and sales statistics. This data must be integrated into a single platform in order to provide a comprehensive view and analysis.
Data Visualization and Analysis: BI tools analyze trends, patterns, and connections using sophisticated analytics. Visualization tools like dashboards, charts, and graphs transform complex data into understandable insights for efficient decision-making.
Predictive Analytics: BI doesn’t merely focus on the present; it anticipates the future. To predict future trends, predictive analytics uses machine learning models and statistical algorithms. This makes it possible for companies to plan ahead and adapt proactively.
Actionable Insights: BI aims to generate actionable insights, not just reports. These insights help optimize operations, identify new opportunities, and enhance overall performance.
The Transformative Impact of Business Intelligence Improved Decision Making
BI tools give businesses access to real-time data, which is essential for making timely, well-informed decisions. This eliminates the need for guesswork and intuition-based decisions in favor of data-driven ones. Additionally, BI tools, like dashboards and visualizations, present data in an understandable format, making it easier for decision-makers to quickly comprehend complex information and react to changes that may have an impact on the business.
Operational Efficiency
The operational efficiency of an organization can be greatly improved using business intelligence. By automating repetitive operations, BI solutions allow employees to concentrate on more important facets of the company. Furthermore, by highlighting areas in the business process that require improvement, BI tools enable firms to get rid of bottlenecks, simplify procedures and cut expenses. Customer satisfaction and service delivery are enhanced as a result.
Improved Bottom Line
Business Intelligence can assist companies in increasing revenue and sales by offering insightful information about consumer behavior. With the use of BI technologies, marketers can better focus their campaigns and boost sales by analyzing customer data to find trends, buying patterns and preferences. Additionally, organizations can use business intelligence to pinpoint successful consumer categories and concentrate their marketing efforts on them. Revenue growth and improved conversion rates are possible outcomes of this focused strategy.
Competitive Advantage
Business Intelligence provides a competitive edge in today’s data-driven world. Through the utilization of BI tools, companies can acquire comprehensive insights into the tactics, advantages and disadvantages of their rivals and utilize this data to formulate strategic plans. Similarly, it facilitates prompt market adaptation and can assist companies in recognizing customer behavior shifts and market trends.
Advancing technology promises a bright future for BI. AI and machine learning will enhance predictive analytics, enabling businesses to foresee trends and adapt quickly. Integrating BI with emerging technologies like IoT and blockchain will unlock new dimensions of data analysis and decision-making.
Conclusion
Business Intelligence has evolved from being a mere buzzword to a transformative force shaping the future of businesses. It empowers organizations to navigate complexities, capitalize on opportunities, and drive growth in an increasingly data-centric world. Embracing BI isn’t just an option; it’s a necessity for businesses aspiring to thrive in today’s competitive landscape.
repeating the info from intro [SD1]
This doesn’t fit right here… please change the placement [SD2]
Cybersecurity Industry Leaders Launch the Cyber Threat Intelligence Capability Maturity Model
PRESS RELEASE
WILMINGTON, Del.–(BUSINESS WIRE) — Today, Intel 471, the premier provider of cyber intelligence-driven solutions worldwide, sponsored a partnership of 28 industry leaders serving public and private organizations across the vendor and consumer community. Together, these professionals volunteered their time, effort, and experience to launch the first version of the Cyber Threat Intelligence Capability Maturity Model (CTI-CMM), designed as the first-of-its kind vendor agnostic and universally applicable resource to support organizations of all shapes and sizes across the CTI industry. In today’s evolving threat landscape, the sign of a successful Cyber Threat Intelligence (CTI) program is a mature program that seamlessly integrates with an organization’s core objectives and key outcomes.
“Unlocking the full potential of your CTI program requires alignment with the capabilities of each stakeholder it supports, and a tangible measurement of success synchronized with organizational priorities,” said Michael DeBolt, Chief Intelligence Officer at Intel 471. “The CTI Capability Maturity Model (CTI-CMM) is designed to support CTI teams in building their capabilities by aligning to defined practices for stakeholder business domains unique to each organization. The Model establishes shared values and principles across the industry to empower organizations to take a holistic approach to cyber threat intelligence with stakeholders in mind.”
“Advising numerous clients globally, I have observed a consistent need for an outcome-focused model for cyber intelligence programs. The CTI-CMM bridges the gap to help CTI programs create impactful and demonstrable value for their organization,” said Colin Connor, CTI Services Manager at IBM X-Force.
The all-volunteer team behind the CTI-CMM is comprised of professionals representing a wide range of sectors, geographic regions, backgrounds and experiences, including leaders from Intel 471, IBM, Kroger, Venation, Mandiant, IntL8, Regfast, Trellix, Autodesk, Centre for Cybersecurity Belgium (CCB), Northwave Cyber Security, Workday, Marsh McLennan, Signify, Tidal Cyber, DeepSeas, BP, Gojek, SAND and many more. These individuals created CTI-CMM to elevate cyber threat intelligence across the industry through knowledge and experiences. Together, they defined the following values and principles to support the CTI community moving forward:
Shared Values
Intelligence provides value through collaboration with our stakeholders and supporting their decision-making process.
Intelligence is never completed. Improvement is continuous. This also applies to adoption. Constant improvement is crucial for success and distinguishing from other models which failed to keep up with the time.
Intelligence is not proprietary, nor is it prescriptive. Therefore, the model should never be claimed by a single commercial party.
Shared Principles
Contextualizing threat intelligence within risk
Continuous self-assessment and improvement
Actionable intelligence based on stakeholder needs
Quantitative and qualitative measurement of intelligence
Collaborative and iterative intelligence processes
This team made the decision to design the CTI-CMM to align with industry best practices and the concepts and format of a recognized cybersecurity maturity model, the Cybersecurity Capability Maturity Model (C2M2). Similar to the C2M2, the CTI-CMM is organized into ten domains. Each domain includes a “Domain Purpose” followed by a “CTI Mission” description describing how the CTI function supports it and consists of the CTI Use Cases and CTI Data Sources.
The CTI-CMM is the blueprint for a successful and effective CTI program. It exists to support the people who make decisions and take action to protect organizations. For more information, please visit: https://cti-cmm.org/
About Intel 471
Intel 471 empowers enterprises, government agencies, and other organizations to win the cybersecurity war using the real-time insights about adversaries, their relationships, threat patterns, and imminent attacks relevant to their businesses. The company’s platform collects, interprets, structures, and validates human-led, automation-enhanced intelligence, which fuels our external attack surface and advanced behavioral threat hunting solutions. Customers utilize this operationalized intelligence to drive a proactive response to neutralize threats and mitigate risk. Organizations across the globe leverage Intel 471’s world-class intelligence, our trusted practitioner engagement and enablement and globally dispersed ground expertise as their frontline guardian against the ever-evolving landscape of cyber threats to fight the adversary — and win. Learn more at https://intel471.com/.
Cybersecurity Industry Leaders Launch the Cyber Threat Intelligence Capability Maturity Model
PRESS RELEASE
WILMINGTON, Del.–(BUSINESS WIRE) — Today, Intel 471, the premier provider of cyber intelligence-driven solutions worldwide, sponsored a partnership of 28 industry leaders serving public and private organizations across the vendor and consumer community. Together, these professionals volunteered their time, effort, and experience to launch the first version of the Cyber Threat Intelligence Capability Maturity Model (CTI-CMM), designed as the first-of-its kind vendor agnostic and universally applicable resource to support organizations of all shapes and sizes across the CTI industry. In today’s evolving threat landscape, the sign of a successful Cyber Threat Intelligence (CTI) program is a mature program that seamlessly integrates with an organization’s core objectives and key outcomes.
“Unlocking the full potential of your CTI program requires alignment with the capabilities of each stakeholder it supports, and a tangible measurement of success synchronized with organizational priorities,” said Michael DeBolt, Chief Intelligence Officer at Intel 471. “The CTI Capability Maturity Model (CTI-CMM) is designed to support CTI teams in building their capabilities by aligning to defined practices for stakeholder business domains unique to each organization. The Model establishes shared values and principles across the industry to empower organizations to take a holistic approach to cyber threat intelligence with stakeholders in mind.”
“Advising numerous clients globally, I have observed a consistent need for an outcome-focused model for cyber intelligence programs. The CTI-CMM bridges the gap to help CTI programs create impactful and demonstrable value for their organization,” said Colin Connor, CTI Services Manager at IBM X-Force.
The all-volunteer team behind the CTI-CMM is comprised of professionals representing a wide range of sectors, geographic regions, backgrounds and experiences, including leaders from Intel 471, IBM, Kroger, Venation, Mandiant, IntL8, Regfast, Trellix, Autodesk, Centre for Cybersecurity Belgium (CCB), Northwave Cyber Security, Workday, Marsh McLennan, Signify, Tidal Cyber, DeepSeas, BP, Gojek, SAND and many more. These individuals created CTI-CMM to elevate cyber threat intelligence across the industry through knowledge and experiences. Together, they defined the following values and principles to support the CTI community moving forward:
Shared Values
Intelligence provides value through collaboration with our stakeholders and supporting their decision-making process.
Intelligence is never completed. Improvement is continuous. This also applies to adoption. Constant improvement is crucial for success and distinguishing from other models which failed to keep up with the time.
Intelligence is not proprietary, nor is it prescriptive. Therefore, the model should never be claimed by a single commercial party.
Shared Principles
Contextualizing threat intelligence within risk
Continuous self-assessment and improvement
Actionable intelligence based on stakeholder needs
Quantitative and qualitative measurement of intelligence
Collaborative and iterative intelligence processes
This team made the decision to design the CTI-CMM to align with industry best practices and the concepts and format of a recognized cybersecurity maturity model, the Cybersecurity Capability Maturity Model (C2M2). Similar to the C2M2, the CTI-CMM is organized into ten domains. Each domain includes a “Domain Purpose” followed by a “CTI Mission” description describing how the CTI function supports it and consists of the CTI Use Cases and CTI Data Sources.
The CTI-CMM is the blueprint for a successful and effective CTI program. It exists to support the people who make decisions and take action to protect organizations. For more information, please visit: https://cti-cmm.org/
About Intel 471
Intel 471 empowers enterprises, government agencies, and other organizations to win the cybersecurity war using the real-time insights about adversaries, their relationships, threat patterns, and imminent attacks relevant to their businesses. The company’s platform collects, interprets, structures, and validates human-led, automation-enhanced intelligence, which fuels our external attack surface and advanced behavioral threat hunting solutions. Customers utilize this operationalized intelligence to drive a proactive response to neutralize threats and mitigate risk. Organizations across the globe leverage Intel 471’s world-class intelligence, our trusted practitioner engagement and enablement and globally dispersed ground expertise as their frontline guardian against the ever-evolving landscape of cyber threats to fight the adversary — and win. Learn more at https://intel471.com/.
Artificial Intelligence Tech 2024-08-13T18:31:05Z Replika lets you buy an AI girlfriend or boyfriend — and its average user age is surprising
Replika CEO Eugenia Kuyda said the app’s users are “mostly 35-plus and super engaged.” Some people have formed deep bonds with their AI companions.
Tech 2024-08-13T13:40:11Z AI and security concerns fuel a shift to on-premises IT infrastructure as companies seek more control of data
AI, data privacy, and security concerns are pushing companies to adopt hybrid IT infrastructure that combines on-prem hardware with cloud services.
The US and some of its allies just pulled off a milestone first by letting AI target enemies like it would in a war
The trial, led by the US Army, was the first time AUKUS members used AI in a simulated battlefield environment akin to a real conflict.
It looks like Sam Altman is dropping hints about OpenAI’s next big thing
Strawberry aims to give OpenAI’s tech autonomous internet navigation and deep research capabilities, according to a Reuters report.
3 in 4 workers say AI reduced productivity and increased workloads, survey finds
A recent survey found that workers were spending more time reviewing AI content or learning how to use the tools.
Everything we know about how finance giants are adopting AI, from Goldman Sachs to Blackstone
Finance’s biggest firms are considering how AI might impact jobs, how it could cut costs, and reduce “grunt work.”
Tech 2024-08-07T18:58:33Z OpenAI’s brain drain isn’t a great look for Sam Altman
OpenAI is losing key members like cofounder John Schulman to rivals, adding to challenges in the AI market and trust issues for CEO Sam Altman.
A CMO tried Google’s AI tools and stopped using many of them
The executive has been using Google’s Performance Max, Smart Bidding, and Gemini. These are their findings.
AI was supposed to revolutionize customer service. Morgan Stanley’s interns aren’t buying it.
The bank surveys its interns on their technology habits and views. What they said about AI customer service is another warning for the tech industry.
Meta’s AI keeps pretending to be me and giving my phone number out to strangers
A weird tech glitch with the new Meta AI chatbot highlights the thorny legal and ethical issues facing AI today.
The GenAI jitters: Is there enough demand for $1 trillion in AI spending?
When you build a lot of new AI data centers, it’s very hard to undo that if end-demand turns out to be weaker than expected.
Tech 2024-08-02T21:09:15Z Google, Netflix, and OpenAI execs are hosting a fundraiser for Kamala Harris
Kamala Harris has friends in high-tech places as execs from Google, Netflix, and OpenAI organize a fundraiser for the Democratic presidential hopeful.
The New York Times and other top news sites block OpenAI’s new SearchGPT web crawling bot
The startup launched a new search engine last week. Some top publishers have already made clear that they want nothing to do with the new product.
Tech 2024-08-02T18:00:24Z Meta, Amazon, and Alphabet are spending big in a battle to dominate AI. It might not end well.
Big Tech giants concede that AI is costing huge sums of money with little return on investment right now. But they say it’s worth the risk.
Why workers who lose their jobs to AI might not stay unemployed for long
The AI boom won’t follow the same path as the US’s manufacturing decline, an economist says. Workers will have a better chance of finding new jobs.
Play Icon A triangle pointing right. It indicates that this type of media can be played or that the linked content is playable. CMO Insider 2024-08-01T20:59:29Z Play icon A circle surrounding a triangle pointing right. It indicates, “this type of media can be played.” How American Express, DoorDash, JP Morgan Chase, and more are using AI to improve business
CMOs from major brands reveal how their companies are using AI and its positive impact on the business.
Reddit has acquired an AI startup to beef up its ad business in a deal worth around $40 million
Reddit hopes its purchase of Memorable AI will boost the performance of advertising on its platform.
Meta scraps celebrity AI chatbots after less than a year, despite reportedly paying top creators as much as $5 million
Meta is shifting focus to its new AI Studio, which lets users create their own AI bots.
Amazon has discussed a ‘DoctorAI’ tool to automate routine healthcare tasks
In a leaked document from late 2023, Amazon’s One Medical team discussed their most disruptive ideas. One was a ‘DoctorAI’ large language model.
A CIO canceled a Microsoft AI deal. The reason should worry the entire tech industry.
The pharmaceutical company IT exec said Microsoft’s Copilot AI tools were not worth the extra money.
Business Intelligence vs. Competitive Intelligence: What’s the Difference? Business Intelligence vs. Competitive Intelligence: An Overview
Competitive intelligence is the act of understanding a company’s industry and industry rivals so the company can make better business decisions.
Business intelligence refers to the tools, software, and systems that play a vital role in the strategic planning process of a company.
Key Takeaways Competitive intelligence is the outward-focused analysis of a business’s competitors to identify advantages and potential strategies.In contrast, business intelligence is the inward-focused evaluation of the business’s own data, which can help improve efficiency and growth.Combining both business and competitive intelligence provides a framework for action that can help increase stability, profitability, and success. Competitive Intelligence
Competitive intelligence is an acute type of market research conducted by a business. With competitive intelligence, businesses use the same type of tactics utilized when conducting market research; however, the focus is to answer more target questions rather than review broad market trends. Competitive intelligence can include the knowledge of a competitor’s operations or business partners, as well as a deeper understanding of the industry in which a company operates.
Competitive intelligence is any material information a company possesses that allows it to make better-informed decisions than the average company in its industry. It does so to operate more efficiently. Conducting competitive intelligence allows a company to spot opportunities in the market and beat out its competitors. For example, a company might follow messages on X (formerly Twitter), blog posts, LinkedIn profiles, and email blasts to track what a competitor is doing.
Benefits of Competitive Intelligence Increased marketing efficiency: Your research can help you win back market share or identify target markets that your competitors may have missed.Increased sales: Your sales staff will be able to close more sales when they can position your product competitively against others in the market.Improved products: Competitive intelligence can help your research and development team improve and iterate on your offering.Reduced risk: When you know what tactics your competitors have tried (and failed), you can more easily sidestep pitfalls, focus on proven strategies, and generate growth. Business Intelligence
Business intelligence represents the physical tools and software a company uses to gather intelligence and research. Companies then use that information to make decisions. These tools and software combine to make systems that allow a company to gather, store, and analyze raw business data in a way that helps it make the right decisions.
Business intelligence systems normally operate to collect data in the areas of customer support, market research, competitive intelligence, product performance, and other statistical analyses.
Benefits of Business Intelligence Speed up product design: Evaluate the most popular features and use cases to develop your customers’ ideal product and release it faster. Improved product launches: Metrics can help you improve the performance of your campaigns by identifying the highest-performing pieces and audiences. Improved sales strategies: By analyzing which deals are most effective, the sales team can be trained to close more sales. Strengthened human resources: Evaluating employee data can uncover trends in company culture and employee satisfaction, and even reveal causes for high turnover so you can improve retention. Better executive decision-making: Management can make informed decisions when guiding the direction of the company when it has the best available data. Key Differences
Although both types of intelligence are broadly concerned with increasing sales and growing profitability, there are some differences between business intelligence and competitive intelligence.
Competitive intelligence Business intelligence Outward-facing Inward-facing Improves positioning Improves systems Predicts competitors’ moves Guides the business’s moves Relies on third-party data Relies on internal data How Can Business Intelligence Help You Gain Competitive Advantage?
Business intelligence can help a company gain an advantage in the marketplace by streamlining its operations, reducing inefficiencies, and identifying new sales opportunities. For example, a company can reduce inventory of stock that isn’t selling, replace it with stock with a higher profit margin, and win over customers with improved sales strategies.
How Do Companies Gather Competitive Intelligence?
There are several different ways a company can obtain data about its competitors in the market. Your competitors’ own social media, press releases, and annual reports (as applicable) can give insight into their upcoming moves, as can trade magazines and industry reports. Observing and talking with customers and industry experts can also reveal trends in customer opinion and behavior toward your competitors.
How Do You Do Competitive Intelligence ?
The competitive intelligence process begins with identifying your competitors, their offerings, and their market position. Once you have identified your rivals, you’ll conduct research and gather information. When you have gathered your data, you must analyze it to draw the conclusions that will form the basis of your action plan. At that point, it’s time to execute your plan. Keep in mind that competitive intelligence is an ongoing process, so you’ll need to continue to monitor your competitors if you want to stay one step ahead.
The Bottom Line
Business intelligence is a company’s inward-facing analysis that is focused on improving efficiency, and competitive intelligence is outward-facing research that aims to predict a competitor’s next moves. While both competitive intelligence and business intelligence can help a company prosper, understanding the benefits of each will help you get the best insights.
Transforming Your Organization with the Power of Business Intelligence
Share
Share
Share
Email
With the ability to drive strategic initiatives, make educated decisions and extract valuable insights from raw data, business intelligence (BI) has become a key enabler for organizational success. BI has revolutionized the way businesses operate and plan for the future in this age of intense competition and rapid technological advancement. One of the most powerful business intelligence tools available, Intellicus has provided tailored solutions to over 17,000 small and large businesses, enabling them to make data-driven decisions.
Understanding Business Intelligence
Business Intelligence (BI) is a technology-driven process that analyzes business data to provide actionable information that informs strategic and operational decisions. It involves collecting, storing, analyzing, and visualizing data to uncover patterns, trends, and insights that drive business performance. It combines internal and external data sources into a logical framework that helps produce insights that can be put into action. Business intelligence is a valuable resource that facilitates managers, executives and stakeholders to make informed decisions.
Business Intelligence (BI) is a technology-driven process that analyzes business data to provide actionable information that informs strategic and operational decisions. It involves collecting, storing, analyzing, and visualizing data to uncover patterns, trends, and insights that drive business performance. Essentially, BI transforms raw data into meaningful information that empowers organizations to make data-driven decisions.
The Four Pillars of Business Intelligence
Data Collection and Integration: Business Intelligence starts with the compilation of information from various sources, such as social media interactions, market trends, consumer profiles and sales statistics. This data must be integrated into a single platform in order to provide a comprehensive view and analysis.
Data Visualization and Analysis: BI tools analyze trends, patterns, and connections using sophisticated analytics. Visualization tools like dashboards, charts, and graphs transform complex data into understandable insights for efficient decision-making.
Predictive Analytics: BI doesn’t merely focus on the present; it anticipates the future. To predict future trends, predictive analytics uses machine learning models and statistical algorithms. This makes it possible for companies to plan ahead and adapt proactively.
Actionable Insights: BI aims to generate actionable insights, not just reports. These insights help optimize operations, identify new opportunities, and enhance overall performance.
The Transformative Impact of Business Intelligence Improved Decision Making
BI tools give businesses access to real-time data, which is essential for making timely, well-informed decisions. This eliminates the need for guesswork and intuition-based decisions in favor of data-driven ones. Additionally, BI tools, like dashboards and visualizations, present data in an understandable format, making it easier for decision-makers to quickly comprehend complex information and react to changes that may have an impact on the business.
Operational Efficiency
The operational efficiency of an organization can be greatly improved using business intelligence. By automating repetitive operations, BI solutions allow employees to concentrate on more important facets of the company. Furthermore, by highlighting areas in the business process that require improvement, BI tools enable firms to get rid of bottlenecks, simplify procedures and cut expenses. Customer satisfaction and service delivery are enhanced as a result.
Improved Bottom Line
Business Intelligence can assist companies in increasing revenue and sales by offering insightful information about consumer behavior. With the use of BI technologies, marketers can better focus their campaigns and boost sales by analyzing customer data to find trends, buying patterns and preferences. Additionally, organizations can use business intelligence to pinpoint successful consumer categories and concentrate their marketing efforts on them. Revenue growth and improved conversion rates are possible outcomes of this focused strategy.
Competitive Advantage
Business Intelligence provides a competitive edge in today’s data-driven world. Through the utilization of BI tools, companies can acquire comprehensive insights into the tactics, advantages and disadvantages of their rivals and utilize this data to formulate strategic plans. Similarly, it facilitates prompt market adaptation and can assist companies in recognizing customer behavior shifts and market trends.
Ethical Considerations in BI
The Future of Business Intelligence
Advancing technology promises a bright future for BI. AI and machine learning will enhance predictive analytics, enabling businesses to foresee trends and adapt quickly. Integrating BI with emerging technologies like IoT and blockchain will unlock new dimensions of data analysis and decision-making.
Conclusion
Business Intelligence has evolved from being a mere buzzword to a transformative force shaping the future of businesses. It empowers organizations to navigate complexities, capitalize on opportunities, and drive growth in an increasingly data-centric world. Embracing BI isn’t just an option; it’s a necessity for businesses aspiring to thrive in today’s competitive landscape.
repeating the info from intro [SD1]
This doesn’t fit right here… please change the placement [SD2]
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Dashboards, Business Intelligence and Reporting… NANO Nuclear Energy Appoints Former Congressman and District Attorney Dan Donovan to its Executive Advisory Board as Chairman for Market Intelligence NANO Nuclear Energy Inc. NANO Nuclear Energy Inc. Figure 1 – NANO Nuclear Energy Inc. Appoints Fromer District Attorney and Congressman Daniel M. Donovan Jr. as its Chairman of the Executive Advisory Board for Market Intelligence. Pros and Cons of Board Former member of House Homeland Security Committee member brings important expertise and contacts to NANO Nuclear New York, N.Y., Aug. 14, 2024 (GLOBE NEWSWIRE) — NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear”), a vertically integrated advanced nuclear energy and…
AI is approaching an open-source inflection point… AI is approaching an open-source inflection point $75 per month Complete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%. Global news & analysisExpert opinionFT App on Android & iOSFT Edit appFirstFT: the day’s biggest stories20+ curated newslettersFollow topics & set alerts with myFTFT Videos & Podcasts20 monthly gift articles to shareLex: FT’s flagship investment column15+ Premium newsletters by leading expertsFT Digital Edition: our digitised print edition Small language models and open source are transforming AI Free and Open Source Business Intelligence Tools Logz SLMs also sharpen customization. These models…
What is Business Intelligence (BI): Complete Implementation Transforming Your Organization with the Power of Business Intelligence Share Share Understanding Business Intelligence Through Modernizing ETL Share Email How to choose the right ETL tool? Bismart Partner Power BI With the ability to drive strategic initiatives, make educated decisions and extract valuable insights from raw data, business intelligence (BI) has become a key enabler for organizational success. BI has revolutionized the way businesses operate and plan for the future in this age of intense competition and rapid technological advancement. One of the most powerful business intelligence tools available, Intellicus has provided tailored solutions to over…
Qlik Sense Business Analyst Certification - Credly Exciting New Partnership: Optimum and Qlik Join Forces to Transform Data Analytics for Clients With Seamless Data Integration and Cutting-Edge Visualization, This Partnership Will Drive Business Growth and Empower Data-Driven Decisions for Businesses of All Sizes HOUSTON, TX / ACCESSWIRE / August 8, 2024 / Optimum Consultancy Services, a leader in IT consulting that specializes in data, business intelligence (BI), and artificial intelligence (AI) solutions, is thrilled to announce a new strategic partnership with Qlik®, a renowned leader in data integration and data analytics solutions. This partnership is set to transform the way businesses leverage data for strategic decision-making. Through…
Common Mistakes to Avoid When Hiring a Power BI Developer Common Mistakes to Avoid When Hiring a Power BI Developer Businesses depend intensely on information analytics to make informed decisions, and Power BI has risen as a prevalent tool for turning raw data into significant insights. Hiring a Power BI engineer is a crucial choice that can altogether affect your organization’s victory. In any case, companies frequently make a few mistakes when hiring Control BI engineers that can lead to project delays, destitute results, and unnecessary costs. Here are five common mistakes businesses make when hiring Power BI developers and we offer significant tips to avoid them. Common mistakes when…
Business Intelligence in ERP (The Role of BI Tools in ERP) De-siloing the enterprise: The challenges and opportunities in data consolidation A hot topic in the data management space is the argument against data silos. Factors such as generative artificial intelligence and decentralized data infrastructures have intensified the need to embrace the data consolidation ethos. RelationalAI’s Molham Aref discusses modern data platforms. What is the imperative to de-silo data operations? And what challenges and opportunities exist as companies move toward interconnected data infrastructures? “You’re building intelligent applications, and by definition, these applications have to look at data,” said Molham Aref (pictured), chief executive officer of RelationalAI Inc. “The old architecture is where…
Talent Intelligence: Unlocking The Power Of… Talent Intelligence: Unlocking The Power Of Multidimensional Data Joanna Riley, CEO & cofounder of Censia. Striving for a more just and efficient global economy through better talent data and technology. getty In the age of data-driven decision-making, the significance of structured, multidimensional data cannot be overstated. This data type forms the backbone of advanced AI systems, facilitating nuanced insights and predictive analytics essential for modern business strategies, including talent management. What Is Business Intelligence (BI)? Types, Benefits, and Examples Data-Driven Recruiting And Talent Management Companies that harness data in talent management have seen remarkable improvements in both efficiency and insights…
Qlik Introduces Qlik Answers to Transform… Qlik Introduces Qlik Answers to Transform Unstructured Data into Business Insights PHILADELPHIA, July 30, 2024 — Qlik, a global leader in data integration, analytics, and artificial intelligence (AI), today announced the general availability of Qlik Answers, its newest self-service AI solution designed to help organizations harness the power of AI by removing the risk, embracing the complexity, and scaling the impact of AI. Qlik Answers transforms unstructured data into actionable results through generative AI, offering full explainability—a common obstacle in enterprise AI adoption. Qlik Answers combines generative AI with Qlik’s trusted data analytics capabilities to deliver precise, contextually relevant results…
How to create Excel dashboards with Claude How to create Excel dashboards with Claude 3 AI in minutes If you are looking for a fast and efficient way to create Excel dashboards to present your data in presentations or reports. You might be interested to know that you can use the power of Claude 3 AI to help create these Excel interactive dashboards just a few minutes. Saving you hours of time which can be spent more wisely. Creating interactive dashboards has become an essential skill and by using Claude 3 AI, a powerful artificial intelligence tool, this process has been streamlined and simplified. This guide created…
Hidden Apple Intelligence Features Revealed Hidden Apple Intelligence Features Revealed Apple’s latest iOS 18.1 beta 2 update brings a suite of advanced AI-driven features for Apple Intelligence designed to transform your user experience. These hidden gems leverage Apple’s innovative AI technology to automate tasks, enhance communication, and create personalized content, ultimately streamlining your daily interactions with your device. Let’s dive into the details of these innovative features. Smart Reply: Effortless Email and Message Responses The Smart Reply feature in iOS 18.1 takes the hassle out of responding to emails and messages. Intelligently analyzing the content of your incoming communications suggests complete, contextually relevant replies. Whether you receive…
How Zebra Technologies Uses Machine Vision to… How Zebra Technologies Uses Machine Vision to Transform Production Automation Machine vision is the focus of Machine Design’s Takeover Topic Event (Aug. 12-16, 2024). Covering the gamut of vision systems, the lineup includes case histories, trends and interviews with notable players to watch in this space. In the accompanying video, Andrew Zosel, senior vice president and general manager, Zebra Technologies, explains the vision and strategy behind recent acquisitions and the resultant solutions. Machine vision is a significant part of that investment and future growth at Zebra, said Zosel. (In parts 2 and 3 of this interview series focusing on machine…
The Coolest Business Analytics Companies Of The 2023… The Coolest Business Analytics Companies Of The 2023 Big Data 100 Part 1 of CRN’s Big Data 100 takes a look at the vendors solution providers should know in the data analytics and business intelligence space. Analytical Approach It’s no surprise that in diagrams and visual representations of big data IT systems, data analytics and visualization software are usually at the top of the big data “technology stack.” They are the software tools that business analysts and information workers use to gain understanding and insight from the exponentially growing volumes of data businesses are generating today and to share that…
Qlik Answers Now Available for AI-Driven, Fully… Qlik Answers Now Available for AI-Driven, Fully Explainable Insights from Vast Unstructured Business Data PHILADELPHIA, July 30, 2024 (GLOBE NEWSWIRE) — Qlik®, a global leader in data integration, analytics, and artificial intelligence (AI), today announced the general availability of Qlik Answers™, its newest self-service AI solution designed to help organizations harness the power of AI by removing the risk, embracing the complexity, and scaling the impact of AI. Qlik Answers transforms unstructured data into actionable results through generative AI, offering full explainability—a common obstacle in enterprise AI adoption. Qlik Answers combines generative AI with Qlik’s trusted data analytics capabilities to…
Magic Quadrant for Analytics & Business Intelligence… Gartner says everyday AI and digital employee experience are two years away from mainstream adoption ERROR: The request could not be satisfied Request blocked. We can’t connect to the server for this app or website at this time. There might be too much traffic or a configuration error. Try again later, or contact the app or website owner. If you provide content to customers through CloudFront, you can find steps to troubleshoot and help prevent this error by reviewing the CloudFront documentation. Generated by cloudfront (CloudFront) Request ID: GFd0flXaeUjYUvECGjo3GIRU7HEI9EgAwOe2IsvR7iPvJ1p9qTAa3A== Gartner says everyday AI and digital employee experience are two years…
Why Business Intelligence (BI) Is A Must-Have Tool for Every Should Central Maine Power go “dark” to the regulators? A proposed financial reorganization of Central Maine Power (CMP), the state’s dominant electric company, is generating fierce consumer opposition at the Maine Public Utilities Commission. Augusta-based Avangrid (NYSE:AGR), CMP’s owner since 2015, is 81.6% owned by Spanish energy conglomerate Iberdrola, which wants the state regulators to rubber stamp a deal where Iberdrola would acquire the remaining 18.4% of Avangrid for $2.5 billion. Iberdrola said, “The objective of this transaction is to increase exposure to the networks business in the United States at a key moment for Iberdrola, which wants to grow in markets with strong credit…
Microsoft Power BI: A Powerful Cloud Based Business… Free Business Email: 7 Legit Ways to Get Free Addresses All businesses need branded email addresses, and small businesses and startups often need it to be as cheap as possible. To help, we rounded up the best legitimate ways to get a free business email address. All are secure and credible for professional use. Some are completely free, while others include free email accounts with products like domains, web hosting, and office software. Best free business email addresses: Zoho Mail Best for Gmail business email: Google Workspace Best for a free email address with cheap domain purchase: IONOS Best website…
The Rise Of Multidimensional Data in HR Innovative Data Strategies: Leveraging AI For Smarter Enterprise Operations Aug 14, 2024,10:15am EDT From Hidden Energy To High Performance: How To Engage Introverts To Optimize Workplace Dynamics”,”scope”:{“topStory”:{“index”:1,”title”:”From Hidden Energy To High Performance: How To Engage Introverts To Optimize Workplace Dynamics”,”image”:”https://specials-images.forbesimg.com/imageserve/66bb9eaf2f4db016e24d098c/290×0.jpg”,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”Aug 14, 2024″,”hourMinute”:”10:15″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1723644900000},”uri”:”https://www.forbes.com/councils/forbestechcouncil/2024/08/14/from-hidden-energy-to-high-performance-how-to-engage-introverts-to-optimize-workplace-dynamics/”}},”id”:”3cdprf7g2i5000″},{“textContent”:” Aug 14, 2024,10:00am EDT ETL (Extract, Transform and Load) Definition: What does ETL mean The Best Recipes For Human Connection In Healthcare Combine Digital And Analog Ingredients”,”scope”:{“topStory”:{“index”:2,”title”:”The Best Recipes For Human Connection In Healthcare Combine Digital And Analog Ingredients”,”image”:”https://specials-images.forbesimg.com/imageserve/66bb9df512367aad52f0b0e5/290×0.jpg”,”isHappeningNowArticle”:false,”date”:{“monthDayYear”:”Aug 14, 2024″,”hourMinute”:”10:00″,”amPm”:”am”,”isEDT”:true,”unformattedDate”:1723644000000},”uri”:”https://www.forbes.com/councils/forbestechcouncil/2024/08/14/the-best-recipes-for-human-connection-in-healthcare-combine-digital-and-analog-ingredients/”}},”id”:”2g9401pdpj3g00″},{“textContent”:” Aug 14, 2024,09:45am EDT Overcoming The Challenges Of Using AI Chatbots In Healthcare”,”scope”:{“topStory”:{“index”:3,”title”:”Overcoming The Challenges Of Using…
