Business intelligence (BI) involves analyzing a company's internal data to make better decisions, while competitive intelligence (CI) analyzes competitors and market data. Both are important to get a complete picture internally and externally. BI must be collected, analyzed, and presented clearly. CI provides an overview and specifics of the market and competitors to allow for predicting trends and informed decision making. Having defined processes for gathering both BI and CI internally and externally gives the most informed view for decisions.