6 advantages of using Competitive Intelligence tools

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Competitive intelligence tools are essential for companies that want to be more competitive and earn more. This happens because with them it is possible to analyze the data produced by companies, obtain a series of insights and support actions with concrete information about decision-making. One thing is certain: due to this series of benefits, investing in data intelligence is a strong trend that will be increasingly adopted by companies. However, do you still have questions about the advantages of starting to use these tools in your business? Then check out six international surveys and data that talk about the gains brought by competitive intelligence tools.

Follow along! – You may also be interested in: How to use data intelligently and boost your retail? 6 research studies that talk about the gains offered by competitive intelligence: The ROI for companies using competitive intelligence is 10,000% SIC ws data  tools (Competitive Intelligence Software) are an investment that returns to the business. To give you an idea, a survey carried out by Nucleus Research, a leading company in ROI analysis , showed that companies have a return of 10.66 dollars for every dollar spent on data intelligence. 58% of leaders believe that investing in competitive intelligence is essential for innovation Furthermore, innovation is necessary to stand out in an extremely competitive market.



In fact, a survey carried out by Thought Spot, an international BI company, revealed that 58% of company leaders believe that the reports provided by Business Intelligence tools are the strongest input for business innovation. This happens because, by knowing exactly what situation the company is in, it is easier and more guaranteed to find the solutions that will really work for the proposed challenges. 46% of small businesses use Cloud Intelligence Information made available in the cloud is very important, especially for small businesses. Therefore, a survey carried out by the BI Leadership Forum revealed that more than 46% of small companies constantly use this tool as part of their business intelligence strategies.

To complement this, another study developed by Dimensional Research showed that 80% of companies that use cloud intelligence tools are “highly satisfied” or “satisfied”. ¾ of companies that do not use competitive intelligence tools are negatively impacted Therefore, companies that do not use Business Intelligence are negatively impacted. Beforehand, it is understood that analyzes carried out manually consume unnecessary employee time and can result in errors. Therefore, according to Info Tech, an IT research company, 74% of companies will have some type of negative impact if they do not adopt Intelligence tools. Among the impacts, they may make erroneous and delayed decisions, lose customers, decrease sales, among others. However, if they adopt tools, they can reverse this situation. This way, they will be more efficient in their business and will be ahead of other companies.

Companies that analyze their data are 5 times more capable of making quick decisions For a company to make an important decision, a series of factors must be analyzed. However, with the enormous amount of information generated daily, carrying out these analyzes can be time-consuming. Therefore, companies that want to be assertive need tools to act quickly. Nati Shalom, CTO at GigaSpaces, says that knowing how to analyze data quickly allows innovative companies to gain a competitive advantage. Mercafacil Software is an alternative to achieve this objective.