Competitive intelligence has now entered the chatbot space with a tool designed for markets to help them better understand their competitors’ strategies and tactics. The chatbot’s creator said he was inspired to create the tool after getting tired of having to use a number of different websites to find the answers he wanted.
While this seems to be a novel tool, it’s also lacking a number of features a dedicated analyst from an MI firm offers. If your organization is looking for another tool to spew a bunch of information, a chatbot or algorithm will work – just be prepared to sift through it all to find the content that’s relevant to your company’s strategy. For customized market insight that is tailored and edited to the needs of your organization, nothing will compete with a human analyst.
If there’s a strategy shift or an event that might not be a big deal in the micro but will evolve to affect the macro, nothing beats being able to contact a dedicated MI analyst. Sure, chatbots can help a company save time on more meandering tasks, but when it comes to getting the right information, in a consistent format, to the right thought leaders in a company, it would be best not to leave that to a computer program.
Also, competitive intelligence is something that should be properly distributed. An effective service should be delivered on a consistent basis to the people in an organization who will benefit from timely, actionable insight. A chatbot might provide some useful information but someone will still need to be tasked with distributing the proper content to the right people.
This article was originally published on ShiftCentral, now part of LAC Group.