This publication will discuss a topic that often causes confusion in the business world: information monitoring and management. Companies often have misconceptions about this fundamental process, and it is important to disprove them so that you can make the most of its benefits.

Myth 1: “It requires a large investment of time and effort”.

It is true that surveillance and intelligence used to be complicated, time-consuming and labour-intensive processes. Today, however, there are tools and technologies that allow much of the process to be automated and streamlined. This reduces the workload and optimises the resources employed, making the investment of time and effort much more efficient.

Myth 2: “Only relevant for large companies”.

Wrong! Surveillance and intelligence are equally valuable for businesses of all sizes. Whether you are a small, medium or large business, these practices allow you to identify opportunities, detect threats and better understand the competitive environment. Even with limited resources, you can make more informed decisions and adapt quickly to market changes.

Myth 3: ‘It requires a highly specialised team’.

While having experts can be beneficial, it is not mandatory. With the right training, clear objectives and technological tools, you can perform basic competitive intelligence gathering and analysis activities. In addition, there are solutions, such as the one we offer at InTool, that make the process easier for those who do not have access to specialised in-house resources.

Myth 4: ‘It’s an unethical activity’.

Surveillance and intelligence are based on the collection of information from public and legal sources. The main objective is to analyse and understand the competitive environment in order to make informed decisions and improve the company’s position. It is not about spying or information theft, but about being aware of what is happening in the market.

Myth 5: ‘Only focus on direct competition’.

Aquí tenemos otro mito. La vigilancia e inteligencia no se limitan únicamente a la competencia directa de una empresa. Estas prácticas también incluyen el seguimiento de tendencias tecnológicas, cambios regulatorios, nuevos mercados y otros factores que pueden afectar la industria en su conjunto. Tener una visión amplia del entorno competitivo te permite identificar oportunidades y anticipar posibles amenazas más allá de los competidores directos.

Myth 6: ‘It is the exclusive task of the research and development department’.

Not at all! Surveillance is relevant to all areas of a company because it provides valuable information for strategic decision making, new product development, improving operational efficiency and many other key areas. All departments can benefit from being aware of developments and changes in the market.

Don’t let myths stop you from taking advantage of surveillance and intelligence in your business!

Staying on top of relevant information and making informed decisions can make all the difference in an increasingly competitive marketplace.

👉 If you are thinking about driving innovation and strategic decision making in your organisation by efficiently capturing information through an automated process you can schedule a free consultancy meeting here.