How do you analyze and synthesize competitive intelligence to create plausible scenarios for the future?
Competitive intelligence (CI) is the process of gathering, analyzing, and using information about your competitors, customers, markets, and trends to support strategic decision making. CI can help you identify opportunities, threats, risks, and uncertainties that may affect your business in the future. But how do you turn CI data into actionable insights and scenarios that can guide your planning and decision making? Here are some steps and tips to help you analyze and synthesize CI to create plausible scenarios for the future.
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Define scope and purpose:Start by outlining the time frame, geographic reach, and industry focus of your scenarios. This ensures your analysis is targeted and aligns with stakeholder expectations.### *Identify key drivers and uncertainties:Use tools like SWOT or PESTEL analysis to pinpoint factors with high impact but varying certainty. This helps in recognizing potential opportunities and threats that could shape future scenarios.