Growing Need of Competitive Technological Intelligence

By Vinod Singh

With the beginning of globalization, lower production costs and escalating production, competitiveness has become a necessity in the new information society. Knowledge has become the key corporate asset which enables companies to maintain their market competitiveness. Presently, companies are involved in various types of intelligence such as competitive, strategic, economic and business intelligence.

Competitive Technological Intelligence is specializes in scientific and technological task and it includes various operation, such as information mining, analysis and integration, thus enabling informational mapping to generate information intelligence reports. These technical and competitive intelligence reports are used to drive innovation and technical decisions to gain competitive supremacy.

Technical intelligence alerts companies for threats arising from emerging technologies that could be critical to maintain competitive position. Technical intelligence provides information such as changes in competitors' technologies and business strategies, industry trends as a whole, as well as changing market expectations and customer needs. Technical Intelligence keeps companies up to date with all the critical factors that affect the business. Patents are on of the most comprehensive source of technical information, generally used to gain technical and competitive supremacy in the market. The most important issue is not information collection, but intelligence use and integration of huge technical and market information into easy to understand format.

Advantages of Competitive Technical Intelligence

The best surprise is no surprise - avoid being blindsided

Awareness of potential opportunities

Identification of methods for strategic planning to remain abreast of change in market, customers, technologies, and competitors

Trend in the core technology domains

SWOT (Strength Weakness Opportunity Threads) analysis

Licensing, acquisition and merger opportunities

Thus having the right technology and right information at the right time is very important part of business success. In the current fast changing and competitive economy, companies have to get accurate and timely intelligence on their technical and competitive environment, if they want themselves to be on the top.

Vinod Kumar Singh
Content Writer - IP/Patent Intelligence

Article Source: EzineArticles.com/?expert=Vinod_Singh

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