The cost drivers for competitive monitoring are

1. Crawling the data

Running real-time analytics with dedicated sensors on an IOT infrastructure might is expensive. In contrast, analyzing multiple websites with google analytics and similar tools comes with a comparatively small price tag. Using automated web scraping tool will decrease the cost and help you eliminate input errors and provide you with the data available to make better decisions and predictions.

2.Computing the data.

Depending on the nature of your business this can be a piece of cake or a multi-million dollar amount. While API calls may cost a few cents, this easily adds up to hundreds of thousands of dollars. However, without a clear idea, how to turn the data into valuable insights (and later into valuable actions), this will not provide you any value.

3.Turning data into information into insights into action

To create your own competitor monitoring strategy, just follow some best practices for your industry or build an in-house intelligence or mandate a specialist. Depending on the availability of best practices, templates and your in-house requirements for gathering insights from multiple departments this becomes a business intelligence program.

Working with C84 starts minimum as a 3-months program, comes with a custom onboarding and expert coaching sessions over the web at € 4.975 / month.

 

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