Although the phrase ‘information is power’ has sometimes been labelled with negative connotations, in today’s business world it is a reality. The ability to make informed strategic decisions depends to a large extent on the quality and reliability of the information sources being used. A well-defined intelligence and surveillance process must ensure this.

Establishing quality sources becomes a fundamental pillar for obtaining accurate and relevant insights that help drive an organisation’s innovation. In a world flooded with information, it is essential to know where to look and which websites to trust to ensure a solid competitive advantage.

The following text will explore the vital importance of selecting and establishing quality information sources in today’s business landscape.

WHAT ARE QUALITY SOURCES REALLY?

Sources’ refer to the channels, means or places that provide data, evidence or knowledge that are used to gain understanding, make decisions or conduct research on a specific topic.

As is well known, there are various sources of information:

• Journals and periodicals
• Patents and scientific publications
• Social networks
• Associations and research centres
• Google News
• …

When addressing the question of sources, a fundamental dilemma arises: is the quantity of information collected more relevant or the quality of the sources selected?

QUANTITY OR QUALITY?

At InTool, we believe the answer lies in recognising that while quantity can provide a broad view, it is the quality of the sources that really makes the difference. It is better to have reliable and relevant sources than to flood the system with irrelevant information. Quality ensures the accuracy and relevance of information, providing a solid basis for strategic decision-making.

THE APPLICATION OF SOURCING IN BUSINESS

Companies can anticipate trends, identify opportunities and react proactively to threats thanks to the deeper understanding of the competitive environment that quality sources provide. Companies gain significant competitive advantage in an increasingly challenging business environment by prioritising quality sourcing to turn information into competitive intelligence.

MAINTAINING SOURCES

After establishing which quality sources will feed our surveillance system, it is important to monitor the performance of the sources in terms of the quality and relevance of the information they provide. If, over time, a source begins to provide unreliable or irrelevant data, it is necessary to consider replacing it with a more suitable alternative.

At InTool we believe that part of the success of a good monitoring system is based on identifying quality sources. Therefore, we help you to implement quality sources according to the objectives you want to pursue.