How to track your competitors to uncover hidden secrets
by Srikanth Chari - WorkZ
[ Commentary by Meryl K. Evans, Editor ]

Ever dream of being like James Bond? Here's your chance to do a little spying and do it while at work. The Internet makes it easy to learn what's going on with your competitors. This article provides five ways to stay on top of competitors.

Time is probably the biggest barrier to doing your homework. Google and Yahoo! alerts work well since they come to you (by email, instant messenger, text message), and you can configure the options like how often, what resources and so on. If you use a feed reader or other resource for receiving RSS feeds, create a folder or filter for your competitor so all related information goes in one place for easy referencing. You may want to create a rule for alerts to do the same.

You can not only track your competitor, but also track your industry. That way, you're on top of any new news and potential competitors. If available, you might subscribe to competitors' and industry newsletters.

What other resources do you rely on for intelligence? How has staying on top of the industry and competitors helped?