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Business
tools: There are many types of businesses, and,
as a result, businesses can be classified in
many ways. One of the most common focuses on
the primary profit-generating activities of
a business. Organizations typically gather information
in order to assess the business environment,
and cover fields such as marketing research,
industry or market research, and competitor
analysis. Competitive organizations accumulate
business intelligence in order to gain sustainable
competitive advantage, and may regard such intelligence
as a valuable core competence in some instances.
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Generally, BI-collectors glean their primary
information from internal business sources.
Such sources help decision-makers understand
how well they have performed. Secondary sources
of information include customer needs, customer
decision-making processes, the competition and
competitive pressures, conditions in relevant
industries, and general economic, technological,
and cultural trends. Industrial espionage may
also provide business intelligence by using
covert techniques. |
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