MinEDec: a Decision-Support Model That Combines Text-Mining Technologies with Two Competitive Intelligence Analysis Methods

Abstract

With the development of information technologies, enterprises are working in a complex and dynamic environment. Monitoring the competitive environment and effectively transforming data into knowledge for decision makers are vital competitive powers. In order to monitor and analyse the competitive environment of businesses, we integrate two well-known competitive intelligence analysis methods, the Five Forces Analysis (FFA) and a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis with various text-mining technologies in a decision support model Mining Environment for Decisions (MinEDec). We also outline the architecture of a decision support system that is based on the proposed model.