We can never be 100% sure of the information we receive about other companies or entities.
It is very important to have such information, preferably verified by specialists, so we can avoid the possibility of fraud and scams. One should be careful in life, especially when long-term investments are involved, which entail financial obligations.
Business intelligence is the process of seeking and analyzing information about a company, owners or management. It is useful for making business decisions, such as investments, company acquisitions or entering a company.
Pre-entry intelligence helps in making the right decisions, acquiring new and relevant information, provides an opportunity to predict the consequences of future decisions and assess the risks involved.
Why you should commission business intelligence:
Conducting a business intelligence should be commissioned before making important decisions for your company such as entering a company, making an investment, entering a new market, merging or entering into other business partnerships.
Business intelligence can prevent serious business mistakes that can result in significant material losses for your company or result in spoiling its reputation. Business intelligence can guard against dishonest partners or deciding to use the services of an unreliable supplier.
I recommend you our services in this area, because the costs incurred in connection with the conduct of business intelligence can be disproportionate to the losses incurred as a result of an unproven and ill-considered decision.
What exactly is business intelligence and what are its main goals?
Business intelligence is the process of collecting, analyzing and interpreting information about the market, competitors, potential business partners or other aspects of the economic environment relevant to a company's operations. The main objectives of business intelligence are:
- Risk assessment: Identifying potential risks associated with investments, entering new markets or working with new partners.
- Gaining competitive advantage: Gaining knowledge of competitors' activities, strategies and development plans.
- Supporting strategic decisions: Providing a solid data base for making key business decisions.
What information and data is typically collected by an investigator during a business interview?
During a business interview, an investigator may collect information such as:
- Financial data: Information about the financial condition of companies, their profits, turnover and capital structure.
- Market information: Data on market size, trends, consumer preferences and buying behavior.
- Competitor analysis: Information on competitors' products, services, prices, marketing strategies and innovation.
- Reputation research: Opinions about companies, their brands, their business history and any legal or ethical problems.
In what situations do entrepreneurs most often use business intelligence services?
Entrepreneurs use business intelligence services in situations such as:
- Expansion planning: Researching potential markets before expanding operations.
- Mergers and acquisitions: Assessing potential partners or acquisition targets for risk and value.
- Business partner vetting: Checking the credibility and financial stability of potential suppliers, customers or investors.
- Intellectual property protection: Investigating infringement of patents, trademarks or other intellectual property rights.
What are the main benefits of conducting business intelligence before making business decisions?
The benefits of business intelligence are:
- Risk reduction: Better knowledge of potential risks allows you to avoid or minimize them.
- Making better decisions: Access to comprehensive and timely data enables more informed and effective decisions.
- Increase competitiveness: Understanding the market and the activities of competitors allows the company to better adjust its strategy.
How is business intelligence different from other investigative services?
Business intelligence differs from other detective services primarily in its scope and objectives. It focuses on analyzing data and information that has a direct impact on business decisions, unlike other services that may involve, for example, family matters, searching for missing persons or collecting evidence in criminal cases.
What are the key elements of a business intelligence report and what information does it contain?
A business intelligence report typically includes:
- A summary of the activities performed: A description of the methodology and scope of the study conducted.
- Data analysis: A detailed analysis of the information collected, including financial, market and competitive data.
- Conclusions and recommendations: Summary of key findings and suggestions for possible courses of action.
Does business intelligence also include an examination of the reputation and business history of the company or its owners?
Yes, business intelligence often includes an examination of the reputation and past history of the company and its owners to identify potential risks associated with improper business practices, legal issues or other aspects that may affect business decisions.
What are the typical steps an investigator takes when conducting a business interview?
Steps taken during a business interview include:
- Definition of objectives: Defining the interview objectives and key research questions.
- Data collection: Obtaining information from available sources, such as databases, industry publications, and financial reports.
- Analysis and interpretation: Evaluating the collected data, identifying patterns, trends and potential risks.
- Reporting: Prepare and present a report with key findings and recommendations.
What is "white intelligence" and how can it help in making business decisions?
"White intelligence" is the gathering of information from legally available sources, such as publications, databases or websites. It helps business decision-making by providing reliable and up-to-date data on the market, competitors and trends, which allows for better strategic planning and risk minimization.
Are business intelligence services available to both companies and individuals?
Yes, business intelligence services are available both to companies that want to increase their competitiveness and operational security, and to individual customers who need business information in the context of private investment, assessing business risks or making strategic financial decisions.