If you’re a market or product researcher, or an intelligence specialist, you’re probably already aware of the extent to which technologies like artificial intelligence (AI) and machine learning have altered the business landscape over the past decade. But many professionals still view AI with suspicion, even mistrust, after being over-sold on its capabilities and underinformed about its limitations.
If you’re one of those people, it’s time to give AI another (cautious) chance.
Hybrid solutions, sometimes called smart workflows, combine automation technology with human analysis in order to improve the efficiency and accuracy of a business process. Smart workflows automate repetitive, tedious, and time-consuming tasks, and freeing up time for humans to handle more the complex, strategic tasks that machines still struggle to execute. If you’re reluctant to trust a computer to conduct important research, smart workflows allow you to build in human checks and balances wherever you see fit.
Here are three ways automation can save you time at different stages of your competitive intelligence process.
- Data collection: A competitive intelligence process is only as thorough as its data collection method. If you’re missing information during the initial intelligence gathering stage, none of your hard work afterwards can correct that deficit—you’ll always be left with an incomplete set of facts. That’s why automated intelligence gathering is growing in popularity, even among small-to-midsized businesses. By allowing a machine to do the first-line data collection, you remove the potential for human error in terms of overlooking relevant company names, keywords, or phrases. With ongoing maintenance, an automated data collection system can drastically reduce the number of manhours spent searching for information.
- Classification: When you’re dealing with a high volume of information, an automated classification system can give structure to the raw intelligence data, breaking it down into more manageable chunks for researchers and analysts to work with. Even if the information is particularly complication, a human curator can clean up pre-sorted data much more quickly than a raw, unorganized feed. The combination of machine power and human intelligence saves time and reduces employee burnout.
- Distribution: Managing your competitive intelligence distribution process can be a time-consuming job in its own right, especially if you’re doing it all manually. Instead, many businesses are switching to an automated report model that takes your pre-classified intelligence data and distributes it to the intelligence users who need to see it. Users can generally control what type of news they receive and when they receive it, without burdening the intelligence team with dozens, or even hundreds of unique schedules and content requests.
If you’re interested in how CI Radar’s competitive intelligence system can save time and stress, click here for more info, or contact us to schedule a free demonstration.