How to Perform More Effective Competitive Intelligence A White Paper by George Sloane, MBA, MS PART 5 OF 9 Briefly, Some Important Concepts As we prepare to move to more detailed competitive intelligence, two concepts need to be understood: 1) quantitative versus qualitative data and 2) snapshot versus time series data. Quantitative data is objective, countable data. It is unmistakable—such as “. . . sales last quarter were “X”. Qualitative data is subjective, non-numerical data. It is how the customer feels about your product or that of your competitor. I do have approaches to quantifying qualitative data that I discuss in another paper. However, I will give a brief example of this approach later in this paper Snapshot data tends to be static, in the moment, stand alone data such as second quarter sales. Time series data is a collection of like historical snapshot data such as sales for the last 12 quarters. The need to understand these concepts will become more apparent shortly.
Posted on: Mon, 22 Sep 2014 14:40:18 +0000
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