There are official definitions and there are practical ones. We need both in competitive intelligence.

The official definition helps remind us of the foundational principles for the domain. The foundational principles distinguish competitive intelligence from similar but different areas (e.g., market research) while pointing practitioners and customers toward the great value possible from competitive intelligence.

Meanwhile, the practical definitions help connect the possibilities to near and dear value needed by key customers. The practical definitions are less formal but very powerful when they illustrate effectively what competitive intelligence can do. (Read more about this at “Competitive Intelligence: What Seems to Click.“)

This short video covers both types of definitions.