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Inside Track

You Don't Have To Be Agent 007 To Benefit From Competitive Intelligence.

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This story appears in the February 1996 issue of Entrepreneur. Subscribe »

Competition has become so intense that, in some industries, "simply doing your best does not cut it anymore because your best can be mimicked too quickly and easily," says Faye Brill, president of the Society of Competitive Intelligence Professionals in Alexandria, Virginia. "A company's competitive advantage can be eroded more quickly now than ever before."

To protect your edge, you've got to know what the competition is doing. The key? Competitive intelligence. It may sound like something out of a James Bond movie, but "in a business setting, competitive intelligence means taking information, analyzing it and recommending strategies to help companies become and remain competitive in their individual marketplaces," says Brill.

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