Competitive Intelligence to improve product innovation and development
The trends research and competitor analysis accelerated the development of new products
R&D Department Manager
The Challenge
Gamma, a leading technology company, found itself at a crossroads due to intense competition and rapidly changing technology trends.
Despite its record of continuous innovation, Gamma faced the challenge of keeping up with the innovations and product developments of its competitors.
This scenario required a solution that would allow Gamma to maintain its leadership position and continue to drive innovation and product development.
The Solution
The selected strategy was based on a competitive intelligence system, designed to collect, analyze and distribute information on the competitors’ activities, market trends and advances in technology.
The strategy was based on a variety of information sources, including patents, scientific papers, industry reports, social media and competitors’ websites. A set of data analysis tools and artificial intelligence technologies were also employed to process large volumes of data and extract relevant information.
The competitive intelligence system also included the creation of a dashboard to share the information gathered with the R&D, sales and marketing teams, ensuring that all departments were aware of the latest developments and trends.
The Impact
The implementation of competitive intelligence had a positive impact. The company was able to identify its competitors’ product innovations and developments, anticipate market trends and accelerate its own product development.
For example, through the competitive intelligence system, Gamma identified a new trend in virtual reality technology. As a result, the company was able to incorporate similar features to its own products in a timely manner, resulting in a 20% increase in sales of those products.
In addition, the company was able to anticipate the actions of its competitors and adjust its strategy effectively. This helped Gamma maintain its competitive advantage and continue to drive product innovation and development.
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