collective intelligence

(noun)

A shared or group intelligence that emerges from the collaboration and competition of many individuals and appears in consensus-decision-making in bacteria [clarification needed], animals, and computer networks.

Related Terms

Examples of collective intelligence in the following topics:

  • Defining Social Media

    • Specifically, social media began meeting the characteristics of Web 2.0 websites, providing a rich user experience, dynamic content, scalability, openness and collective intelligence.

  • Marketing Performance Metrics

    • By collecting and analyzing marketing metrics, brands can build their marketing performance in the following ways:
    • Increasing competitive intelligence and anticipating competitor reactions to new marketing strategies

  • Competitive Intelligence

    • Competitive Intelligence (CI) is a hybrid process of marketing research and strategic analysis that can give companies a competitive advantage.
    • An example of competitive intelligence is when a food and beverage company conducts primary research to find out about the latest trends in the beverage industry of a foreign country.
    • Although the term CI is also considered synonymous with competitor analysis, competitive intelligence extends beyond analyzing competitors.
    • There are many synonyms for competitive intelligence such as business intelligence, market intelligence, and corporate intelligence.
    • Primary research – This process involves the use of a human network to access meaningful intelligence.

  • Monitoring Competition

    • Companies must monitor competition in order to make intelligent marketing decisions based on how competitors operate.
    • It means basing intelligent marketing decisions on facts about how competitors operate, as well as determining how best to respond.
    • A broad definition of competitive intelligence is the action of defining, gathering, analyzing, and distributing intelligence about products, customers, competitors, and any aspect of the environment needed to support executives and managers in making strategic decisions for an organization.
    • Competitive intelligence is an ethical and legal business practice, as opposed to industrial espionage which is illegal.
    • There is a process involved in gathering information, converting it into intelligence and then utilizing this in business decision-making.

  • Analyzing Data

    • Business intelligence covers data analysis that relies heavily on aggregation and focusing on business information.

  • Decision Support Systems

    • With supporting software and hardware, this tool collects data that helps an organization gather and interpret relevant business information.
    • A key component to any DSS is business intelligence reporting tools, processes, and methodologies.

  • Impact of Technology on Marketing

    • With access to many sources of information and an interest in interactive media, consumers may collect more product information on their own.
    • There are two possible camps in modern marketing: those who "get it" and have intricate systems in place to measure and act on the intelligence provided by multi-channel metrics, and those who view metrics as a check-box item on their list of requirements – something they know they need but don't know how to leverage effectively.
    • Collecting metrics today means going beyond tracking the transaction and business objectives.

  • Marketing Orientation

    • Kohli in the "Journal of Marketing", marketing orientation is the, "The organization-wide generation of market intelligence pertaining to current and future customer needs, dissemination of the intelligence across departments and organization wide responsiveness to it. "
    • Using this customer intelligence, companies could produce products that supported their overall business strategy, competed effectively in an increasingly global and competitive market, and delivered solutions for current and future customer needs.
    • Marketing-oriented companies revolve around internal business processes that gather, synthesize, and package market intelligence into integrated marketing communications programs (i.e., advertising campaign, new product launch, promotional offer, etc.).

  • Collecting Data

    • In marketing research, an example of data collection is when a consumer goods company hires a market research company to conduct in-home ethnographies and in-store shop-alongs in an effort to collect primary research data.
    • This is especially important in the data collection phase.
    • The data collected will be analysed and used to make marketing decisions.
    • Hence, it is vital that the data collection process be free of as much bias as possible.
    • There are many sources of information a marketer can use when collecting data.

  • Attitude

    • One such trait is intelligence – more intelligent people seem to be less easily persuaded by one-sided messages.