There is no single industry in which technology hasn’t transformed dramatically. However, specific industries take more advantage of emerging trends than others. It is important to note that you can use these new technologies to remain relevant regardless of your business niche.
Keep reading to discover how emerging technologies impact the competitive landscape for businesses, including yours.
Artificial intelligence
Artificial intelligence is the future of competitive intelligence because it provides the tools needed to stay one step ahead of your competition. In particular, artificial intelligence is creating a new breed of businesses that can tackle industries you have never dreamed of.
Artificial intelligence is being used for business analytics, data mining, predictive analytics, and pattern recognition. The real benefit of using artificial intelligence in your business is that it allows you to see your competition differently. This way, you can improve your competitive edge before they even realize they need it.
Reviewing industry reports
These traditional sources of competitive information are still available today, but artificial intelligence has made it possible for businesses to mine even more data sources for their competitive advantage. In particular, you can use artificial intelligence to retrieve data from social media sites like Twitter and Facebook.
Mobile technologies
According to the latest statistics from Statista, based on emerging trends, over 5 billion people worldwide currently use mobile technology. The growth of mobile technologies has created a majority of the internet traffic today. This means that people are accessing the information on the go, and businesses need to make sure they are ready for this new competitive landscape.
The convenience of using mobile technology for business-related research is undeniable. However, you need to make sure it doesn’t become too convenient for your competitors to keep tabs on your business. However, the benefits of using mobile devices for competitive intelligence can’t be understated.
Mobile devices allow you to access data sources that were once only available in a business’s office.
Mobile devices are optimized to surf the web and search for information, which allows you to use them on the go. Most importantly, mobile devices allow you to interact with users on social media sites and via email.
According to Statista, 121 million smartphone users are now in the United States and over 1 billion mobile users worldwide. This means that you can use your new mobile technology to stay one step ahead of your competition and gain insight into the people using your product or services. The key is to balance accessing the information you need while remaining accessible for your customers and users.
E-Commerce and online marketing tools
The internet has transformed how consumers shop and how businesses sell their products. Today’s consumers are tech-savvy, which means they are doing online research before they even think about making a purchase. This new reality means that you need to have a solid online presence and utilize the latest e-commerce technologies to remain relevant regardless of your business niche.
How Your Business Can Benefit from NetBase Quid?
Apart from emerging trends, organic-search traffic is the lifeblood of your business. Your business needs to be top of mind when people search for what you sell or what services you provide. By using the NetBase Quid, you can easily rank for keywords related to your industry and brand, allowing you to direct potential customers to your website.
NetBase Quid allows you to monitor your online presence and react to competitive happenings in real-time. With NetBase Quid, you can view what people are saying about your business on social media sites like Facebook, Twitter, and Reddit and review competitor campaigns in detail. A NetBase Quid subscription also gives you the ability to listen to what’s being said across the web and how users or customers feel about your business. You can even see what people are saying while they are using one of your products.
Conclusion
The benefits of using artificial intelligence for competitive intelligence are numerous. However, it would be best to remember that this technology is is one of the latest emerging trends, and is not only for larger organizations. Small businesses can benefit from artificial intelligence as well because it allows them to take advantage of new data sources and analyze them in real-time. These tools can be a game-changer for any business and should be considered if you want to stay on top of your competition.
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