Competitive intelligence is both a process and a product. The process of competitive intelligence is the action of gathering, analyzing, and applying information about products, domain constituents, customers, and competitors for the short term and long term planning needs of an organization. The product of competitive intelligence is the actionable output ascertained by the needs prescribed by an organization.

Competitor Analysis is a set of data, which profiles organizations that are in the same business or aiming for the same market segment of clients or customers. The competitor analysis includes creative crossover items that are sold or services that are delivered for similar reasons. Competitor analysis is a process used to develop a profile of the likely strategic changes that a competitor might make in reaction to a firms strategic moves and general industry conditions. A competitor analysis begins by identifying the names of the competitors and the geographical locations.