Competitive Intelligence refers to the process of gathering and analyzing information about competitors and the market environment. This practice helps businesses understand their rivals' strengths, weaknesses, strategies, and market trends. By collecting data from various sources, companies can make informed decisions to improve their own performance. The goal of Competitive Intelligence is to gain insights that can lead to a competitive advantage. This can involve monitoring competitors' products, pricing, marketing strategies, and customer feedback. Ultimately, effective Competitive Intelligence enables organizations to anticipate market changes and respond proactively to maintain their position in the industry.