What is economic intelligence?

Economic Intelligence (EI) is information engineering. Also known as Business Intelligence, EI mainly focuses on information and its transformation into knowledge.

To do this, it integrates and applies the concepts, processes, techniques, tools, strategies and tactics used by state intelligence services to the economic and business world, both nationally and internationally.

In this article our goal is to tell you everything you need to know about business intelligence. But before you get started, check out our guide on building a real estate business plan.

????What is economic intelligence 

EI is an engineering of collection, interpretation, analysis, evaluation and the dissemination of strategically useful information. To do this, it uses all the resources of information and communication technologies, human resources and their influence, to give companies and organizations the means to be more competitive and efficient.

Thus, the use of IE allows any company or organization to positioning oneself in a globalized world and highly competitive.

It also makes it possible to develop, to anticipate changes, to discover opportunities and to influence one's environment. When used well, it can protect against external and internal threats, either by defending itself or by using countermeasures.

As a result, IE brings added value and directly affects organizations' income statements. In other words, its use is not an expense ; but rather an investment. This directly depends on the knowledge and skills that IE technicians and managers possess. The right training is therefore necessary.

Economic intelligence should not be confused with artificial intelligence. Artificial intelligence refers to the use of technologies and robots in business management. We invite you to read our article on artificial intelligence.

????What can it apply to

There is practically no sector or area of ​​economic and commercial activity which cannot not benefit from employment insurance. Banking, tourism, health, food, cinema, television, agriculture or education are just a few examples.

EI knowledge, procedures and tools are applicable to government organizations and businesses of any size in any industry.

If economic intelligence appears as a high-tech material, which requires a permanent and continuous approach within the company, it is however not the exclusive domain of large industries.

Economic intelligence is a toolbox but it is also an autonomous state of mind that the company must acquire. The fields applications of IE are very varied. Its usefulness is not limited to management. It extends to Innovations and Developments, Marketing and Communication, Human Resources, Legal, etc.

In short, EI intervenes in all areas in which the management, analysis and interpretation of information are necessary for decision-making.

????Who is interested in Economic Intelligence?

Knowledge of EI is essential for those responsible for knowledge management and human resources. It is also intended for strategic planning companies, public bodies, diplomats.

It also allows plan market research, marketing, scientific and technical information, information systems, etc.

????What does Economic Intelligence produce?

Essentially, a professional produces knowledge. This can take various forms and products such as the following:

• Information monographs on countries or regions : documents in which a country or region is analyzed.
• Maps: primarily visual products that facilitate the qualitative and quantitative understanding of a requirement.
• Socio-cultural intelligence analysis: Socio-cultural intelligence report for any type of organization in relation, whether companies or projects, in a specific place.
• THEBenchmarking of sectors and / or competitors : Studies on a specific situation, sector or product in different countries.
• Sector / product analysis : Analysis of the situation of an economic sector or a specific product in a broad way or for a specific question.
• Risk analysis : legal certainty, market changes, political changes, corruption, organized crime, terrorism, etc.
• Strategic oversight: Periodic reports on a need in question. They can include political and economic changes, tenders, legal changes, changes in competition, etc.
• Reputation Tracking: Analysis and monitoring of reputation on social networks, communication and influence. May include reputation countermeasures.
• Profile analysis : profiling of the relevant actors for a negotiation, a meeting, a contact, etc.
• THEHR Risk Intelligence Analysis : Analysis and prevention of insiders and information leaks.
• Crisis analysis and management.
• Etc

This will allow any organization to take advantage of the major changes we are all experiencing in real time today.

???? The objectives of economic intelligence

The objective of economic intelligence is to ensure the protection of the company's organization and all of its tangible and intangible assets.

It makes it possible to develop influence strategies, control competition by managing information flows, anticipate threats and detect opportunities. IE is a mode of corporate governance which is broken down into operational specialties implemented by experts. It seeks to ensure monitoring, protection and influence of the company in its environment.

🎯 the day before

The primary objective of EI is to monitor the organization. In terms of economic intelligence, monitoring consists of acquiring relevant strategic information in order to master and use it.

Everyone easily understands that it is useful for a company to obtain essential information about its competitors. Monitoring also consists, for the company, of identifying and understanding the fundamental rules of the market in which it is developing.

It is not only appropriate to collect this information but also to integrate them in order to better adapt to the environment. The time and resources invested for this purpose will also make it possible to anticipate any changes in the market, which has become hypercompetitive, in order to remain competitive.

🎯 Protection

The second objective of EI is the protection of organizational information. Protecting information is fundamental. Especially at a time when know-how and innovation can be decisive in terms of competitiveness.

The imperatives of security, which have imposed themselves concerning the material, the workforce or the computer systems within each company, must be extended to the information assets.

Such protection must be considered, initiated and disseminated within each structure. It must be based on its specificities and the imperatives with which it must deal. This will first allow the company to remain competitive vis-à-vis its competitors, who now watch over it.

The protection of essential information will then ensure the sustainability of the company itself, which must in particular retain control and freedom of action within it.

🎯 Influence

The third objective of EI is to maintain or increase the company's influence. This objective is important after specific rules for information monitoring and protection have been established in the company.

The strategy thus developed must first of all be distributed internally. All company employees must be aware of the security policy adopted. They will thus be able to control it and all work, at their level, for its disclosure.

It is then necessary to take care to disseminate all the information that will promote the strategy chosen by the company, externally. Each company must know how to be persuasive, at the very least, and regardless of its involvement with Intel, outside of any balance of power or commercial consideration.

The techniques are very diverse in terms of influence, in particular because it is sometimes a question of convincing the whole of a sector, sometimes of convincing the actors of a targeted territory.

The development of ICT has facilitated circulation information, which is now almost instantaneous and borderless. Companies that want to remain competitive must therefore communicate and master these new technologies.

The power of influence can be even more important when the company manages to control the environments information, national or international, to serve its particular interests.

???? Economic intelligence in the face of globalization

The globalization of trade has changed the landscape economical and increased competition industrial and financial. The increase in the number of competitors and the dizzying drop in production costs have led to the birth of new players and emerging markets.

The " playground “companies can no longer be limited to their national territory, nor to their continent, but must place themselves on the platform” Monde ».

???? Summary

It is clear that economic intelligence is mainly based on the need to develop or adapt strategies set up within a company according to market developments, technologies or international exchanges, whether industrial or financial.

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