Competitive intelligence is the systematic generation of information
about a company's relevant competitors.Competitive intelligence comprises the definition, collection, analysis and processing of data
on competitor companies. Thefocus of data generation is on product data, customer data, financial data and competitors' strategies such as expansion plans.
Competitive intelligence uses only legal and publicly accessible data, in contrast to industrial espionage, which uses illegal methods. An important instrument of competitive intelligence work is the screening of the Internet for relevant information by means of e.g. search engines and the monitoring of blogs and news feeds. Based on competitive intelligence data, one's own corporate strategy can be regularly reviewed and adapted to new competitive conditions.