As soon as there were two companies doing business in the same market, there was a need for competitive intelligence. While it would seem that the Internet would make gathering this intelligence easier — and it has, in some respects — the sheer volume of information now available has actually made the job significantly harder.
In addition, the global nature of nearly every market, also means that there is no going back. Organizations must find a way to sort through the mountains of information to find competitive intelligence that will make a difference to their business.
Market intelligence firm Northern Light has been helping enterprise organizations solve this problem for years. SinglePoint, their intelligence platform, aggregates proprietary research data, news sources, government databases and social media to enable organizations to find the competitive information they need. While their aggregation and search capabilities were a giant step forward, it is their latest foray into using machine learning that may change the face of competitive intelligence.
Using unsupervised learning the platform automatically summarizes documents (instead of merely excerpting them), enables users to find related information with high precision and can even produce fully automated research reports, which analyzes all documents in a topic area and provides attributed summaries. The technology appears deceivingly simple and similar to other approaches, but the richness and accuracy of their machine learning-powered results may change how organizations look at competitive intelligence.
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