Competitor Analysis: Beyond The Hype And The AI Machine: Weekly Winning Strategies
There’s no shortage of flashy battlecards and get-rich-quick competitive intelligence hype out there.
Every competitive intelligence software platform has an AI function to save you from bothering to read secondary information. These functions are useful and powerful, but there are other answers.
The market is flooded with tools and templates promising instant insights and easy wins. If one more AI guru emails me about how their tool can make me millions by pressing a button, I may have to strangle them.
It’s the same people who proclaimed the metaverse or NFTs last year. If you made $22 million selling a picture of an online monkey, why are you selling some bullshxt AI training course?
But when it comes to providing impactful competitive intelligence, fundamentals matter.
Don’t be fooled.
There are no shortcuts.
There are no easy templates to fill out.
No buttons you can push to generate C-suite-worthy, decision-grade competitive intelligence.
Data Isn’t Everything
Relying solely on data won’t predict the future. Our imaginations need to do the hard work to author the future. Quantified foresight is important, but raw data doesn’t inspire breakthrough actions.
It’s our interpretation and creative thinking that turn data into powerful strategies.
The Importance Of Quantified Foresight
Quantified foresight is crucial, but data alone won’t trigger transformative actions. It’s how we contextualize and use the data that makes the difference.
Embrace The Future As An Inquiry
The future is not a fixed point; it’s a spectrum of possibilities. No one can predict the future with absolute certainty.
Often, the future is altered and unexpected. Embrace the future as a question, not a certainty. This perspective opens up possibilities and prepares us for unforeseen changes.
The Role Of AI In Competitive Intelligence
AI won’t replace human thinking, nor should it. AI systems are based on vast data sets and rely on how they are taught, inheriting the biases and limitations of their training data.
Most AI isn’t true artificial intelligence but rather advanced forms of machine learning or clever marketing.
Remember, it’s not what your competitor is saying (or has said in terms of AI); it’s what they are not saying. The nuances and omissions that provide you with so much insight.
Leveraging AI For Competitive Intelligence
AI can streamline tasks, but the analysts see the patterns. AI can crunch numbers, scan reports, and highlight anomalies faster than humans.
It helps with the heavy lifting, allowing analysts to focus on higher-order thinking. But here’s the kick in the teeth:
If you’re using AI, so are your competitors. You’re all sifting through the same data pools, applying similar algorithms. So, where’s your competitive edge?
It’s in the human element—the ability to interpret, question, and imagine beyond the data. Yes, AI can handle the grunt work. But an analyst needs to dive deeper. Connecting dots in ways machines can’t. It’s about seeing the forest, not just the trees.
It’s going to the forest, walking through the trees, touching the bark and smelling the lavender. Not what a machine built by software engineers in another country tells you what a forest should smell like.
AI: A Tool, Not A Silver Bullet
Before jumping on the AI bandwagon, ask yourself this simple but powerful question.
What problem do you have, and why will AI solve it?
If you can’t answer that clearly, don’t use AI for the sake of it. AI should enhance human insight, not replace it.
It’s a tool to help you see patterns and opportunities that might go unnoticed. But the real breakthroughs come from human ingenuity and strategic vision.
Conclusion, Competitor Analysis: Beyond The Hype
In competitor analysis, the key is to blend data with strategic imagination. Data guides us, but our creative interpretation and adaptability drive us forward. Remember, the future is a question to explore, not a final destination to reach.
Combining human insight with the right tools, including AI when appropriate, will lead to more effective and impactful competitive intelligence.
But never forget: Your competitive advantage lies not in the data itself but in how you think about and use that data.
Inspiration for this article was a comment made by the CI fellows promoting their annual event (see below) and a chat over a pint or six in Stratford Haven with a good friend and UX professional. And maybe why my weekly Friday article was a little late today….
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