Competitive Intelligence

Buying Intelligence

Buying Intelligence? What on earth does it mean?

Now then, if you do a quick google search you’ll probably come up with lots of reasons why you should use your intelligence before buying a Christmas gift/new sofa/used car, or alternatively how you can buy lots of books or play virtual games which will boost your intelligence, but that’s not it at all. Buying intelligence is how many businesses manage to stay one step ahead (at least) of their competitors.

What does a business need to be successful – it needs customers. What does a company need to know about it’s customers – everything. Have you ever wondered why they ask so many personal questions every time you apply for something so simple as a customer loyalty card:

• how many people live in your house
• what are their ages
• what car do you drive
• how much money do you earn
• where do you like to spend your holidays
• which TV channel do you watch most regularly
• what’s your favorite brand of washing powder

Enough already!!! I want to save a couple of bucks on my groceries, not be entered into Mr and Mrs. . .

This is just a sneaky way of them gathering what they really need to know about you – intelligence.

The Cost of Buying Intelligence

So how much does intelligence cost? How ridiculous does that sound, just think about it for a minute – okay, well, it doesn’t really matter how much it costs does it, as long as the end justifies the means. Anyone who has ever bought a database, or even a mailing list in the “good old days” has bought a little intelligence, of course, maybe not the type you were originally thinking of, but now you know, if you have the intelligence.