Perception Of Competitive Intelligence Required in Idea Generation Among Retailers with Reference to Nilgiris District

Abstract

This study aims to investigate the importance of competitive intelligence in idea generation and its impact on generating innovative ideas. A survey was conducted with 150 respondents using a Likert scaling point from 1-5 to determine the level of agreement with statements related to competitive intelligence and idea generation. The data was analyzed using statistical tools including percentage analysis, descriptive statistics (mean and standard deviation), t-test, and ANOVA. The findings suggest that the majority of respondents agree that competitive intelligence is important for generating innovative ideas and that there is a positive correlation between the use of competitive intelligence and the generation of innovative ideas. Respondents from different industries have varying perceptions on the importance of competitive intelligence in idea generation, with those in the technology industry placing the highest importance. The study recommends that companies and organizations prioritize the use of competitive intelligence in their idea generation process to remain competitive in their respective markets.