Who has time to keep an eye on all their key competitors, customers and market trends? As a technical director in a scientific instruments company, I was amazed at how business intelligence often depended on gossip at trade shows and conventions or around the water cooler, delayed and distorted like a variation on that old children's game, the Chinese Telegraph.
“There must be a happy medium somewhere between being totally informed and blissfully unaware.”—Doug Larson
Your time is valuable, and so is your staff's, so most companies seemingly can't afford to regularly monitor the web sites of their competitors, the comments of their customers, or the trends developing in their marketplace—but can you really afford not to?