Competitive intelligence analyst

Suggested CPD

Certificate in Sustainability for Finance

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What is a competitive intelligence analyst and what do they do?

Competitive intelligence analysts combine research and analytical skills in order to help project the future actions of competitors and determine how to gain or maintain dominance in their industry.

Key responsibilities

Responsibilities will vary, but examples include: 

• Collecting, analysing and reporting on data are the main aspects.
• They will collect data and research competitors (analysing markets, products and financial statements).
• They will also analyse the marketing and advertising of these competitors to see what markets they are targeting and what new products are being launched.
• Additional information may come from reviewing patents and takeovers of new companies to gain insight into the direction and future strategies.
  
• In terms of analysis, the analyst may review a single product or group of products, or the competitor as a whole. The key to all of this data will be the ability to report on it.
• The analysts will report on how the data can affect the business and future plans (such as product launches, development expenditure etc).

Why are they important?

Competitive intelligence provides strategic insight about competitors in the marketplace. This data is used to detect new threats or opportunities, and create more effective business strategies moving forward.

Analysts in this field are important as they provide leadership with real-time data on the competitive landscape. This intelligence allows organisations to quickly identify and respond to threats or opportunities, and enables them to make data-driven decisions to gain and maintain competitive advantage.

Person specification

Competitive intelligence analysts should have excellent research skills, with the ability to analyse and interpret large amounts of data from multiple sources using appropriate digital tools. They should also be detail-oriented with good problem-solving abilities.

Strong interpersonal and communication skills are essential, as is the ability to manage challenging stakeholders. 

Numerical and analytical skills are paramount, but as this is not purely a finance role, but one which requires the ability to review other sources of data (eg advertising, legal, company, financial statements), they need to be flexible to take into account all different factors.