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Competitive Business Intelligence

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In the business world of the twenty-first century, competitive business intelligence is an important and vital tool for any business. To succeed in business in a rapidly changing world, where the availability of information and quantity of data grow significantly over time, businesses must use a variety of tools and options offered by competitive intelligence to understand the market in which they operate, identify trends and sub-trends, map customers and competitors and identify changes and risks.

In the business world of the twenty-first century, competitive business intelligence is an important and vital tool for any business. To succeed in business in a rapidly changing world, where the availability of information and quantity of data grow significantly over time, businesses must use a variety of tools and options offered by competitive intelligence to understand the market in which they operate, identify trends and sub-trends, map customers and competitors and identify changes and risks.

Competitive business intelligence must be professional, focused, continuous and effective. Wise use of competitive intelligence ensures both short and long-term advantages to companies that use this information over those that do not.

Competitive business intelligence, contrary to popular belief, is not connected to military intelligence or activities known as "industrial espionage". Over the years ethical guidelines have been formed for business intelligence. A consensus exists as to the methods employed to gather such information and derivative business intelligence must be obtained by legal and legitimate means.

The importance of business intelligence is reinforced when it comes to promoting businesses in the Middle East and in the Arab world in particular, if only due to the fact that political, social and economic circumstances in this region are different from those existing in Europe or the United States. Also the Arab world is not one entity: business culture in the Gulf, for example, is not the same as business culture in Egypt or Jordan.

Business intelligence applied in the Arab business world greatly relies on religious-social issues. For example, a company interested in business transactions with a company in a Muslim country, has to check first of all, whether this company or its executives are devout in their religion. Islam prohibits the collection of interest on business activities and banking and therefore a person in negotiations with a company dedicated to Islamic law, cannot even utter the word "interest".

Business intelligence in the Arab world requires absolute fluency in Arabic, both spoken and literary. In many cases the quality and reliability of information originating in Arabic exceeds information derived from English or other languages. For example, personal or financial information about a company's CEO in an Arab state is likely to be found on Arabic social forums but is unlikely to appear on an English-language forum.

Arab Markets recognizes the importance of business intelligence and makes use of it extensively and regularly throughout all phases of business development in the Arab world.

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