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Whether your company is entering a merger, considering an investment, or assessing a competitor’s advantage, due diligence is a necessary factor to ensure a successful outcome. Business leaders know the importance of growth but every opportunity presented holds the potential for success or failure.
Business intelligence consists of collecting and organizing large amounts of data that enable businesses to identify opportunities and develop strategies that promote long-term success. Hans Peter Luhn, a researcher for IBM, said in a 1958 IBM Journal article, “Business intelligence is the ability to apprehend the interrelationships of presented facts in such a way as to guide action toward a desired goal.”
Making better decisions based on business intelligence
Successful business leaders know the importance of information gathering and review before making any business decision. They draw information and knowledge from various professional disciplines including business consulting, law firms, journalists, and of course investigators.
For instance, when considering a merger with another company it is crucial to know as much about the company’s history, business management, ethics, financial solvency, possible undisclosed liabilities, leadership of the company, and their affiliations. All business transactions have potential risks and it important to assess these risks prior to entering any business transaction. The public information gathered can be quite revealing and prevent a decision that could devastate years of hard work, reputation, and even avoid litigation in the aftermath.
Another circumstance that could arise is that your company may want to know the demographics of your competitor’s clients. The information gathered would contain the number of products offered by the company, how many were products were purchased, how many were sold to men or women, the age brackets of those who purchased the products, the average income level, zip code, and level of education. Utilizing a combination of commercial due diligence and intensive analytical due diligence can forecast sales growth; identify a competitor’s operational metrics, procurement, customer management, and even fraud.
Benefits of internal business intelligence
While business intelligence can identify external opportunities and risks, internal business intelligence can be equally important. For instance, in the Human Resources Department of a company, the data collected on employee’s absences can be a predictive trend and therefore a strategy developed to combat income loss and retain employees. The same company may want to gauge how their latest marketing campaign is increasing sales in order to produce a trend analysis report and present the information in east to understand graphs and charts in PowerPoint at the next Board Meeting. The advantage of data analysis is endless when assessing performance measures of a business.
The risks of economic espionage
Corporations of all sizes face risks both internally and externally. Protecting trade and investment secrets has become increasingly difficult for large corporations entering the age of cyberspace. International corporations face increased loss and risk that ultimately affects the American economy.
In June 2000, Bloomberg BusinessWeek reported Larry Ellison, Chief Executive of Oracle admitted to hiring a private detective agency to investigate groups that supported Microsoft. Oracle was trying to uncover ties to research groups that had been releasing studies supportive of Microsoft during an antitrust trial.
Claiming it was his “civic duty” to investigate Microsoft’s affiliations, it was uncovered, the investigative group hired by Oracle attempted to buy trash from two housekeepers at the Association for Competitive Technology.
In a June 28, 2012, statement before the House Committee on Homeland Security and Subcommittee on Counter-terrorism and Intelligence, the Federal Bureau of Investigation, Counter Intelligence Division, estimated more than $13 billion losses to the American economy due to economic espionage.
Whether an insider employee is selling trade secrets, a competitor is attempting to infiltrate, or a company is the target of cyber-attacks, more and more companies, governments, and nonprofits face significant risks. Business intelligence when conducted legally and ethically can protect more than the bottom-line.
Private Investigators specialize in business intelligence
Professional investigative teams have private investigators that can verify information, collect information about financial transactions, assets, investments, liabilities, and identify existing contracts, business practices, and even political associations. The information is then provided to the client providing a solid base for decision-making.
Business intelligence involves research, measurement, querying, analytics, data mining, performance management, reporting, identifying benchmarks, information sharing, and regulatory compliance. To implement effective business intelligence strategy, it is important to have skilled investigators to help your company obtain the needed information while conducting a legal, ethical, and discreet investigation.
According to Thomas Lauth, owner and lead private investigator at Lauth Investigations International, business intelligence has become a necessary component of business management worldwide. “From a negative media campaign to competing for a contract, knowing who your opposition is and their political and media affiliations, marketing and internet campaigns, and even motives will give you the competitive edge” says Lauth. “The old saying, it is better to be safe than sorry, rings true.”
Kym L. Pasqualini
Lauth has specialized client services to individuals facing a divorce. “We recognize divorce can be a traumatic event in the lives of our clients and focus on alleviating much of the stress by collecting the information, conducting surveillance, and properly presenting the information to prevent and even alleviating prolonged stress.”
Author/Freelance Writer
Life can suddenly change and you may find yourself facing a divorce, child custody dispute, cheating spouse, civil or criminal litigation. When life takes a sudden turn, it helps to kick a plan into action as soon as possible. The need for a private investigator arises, when we face the need to collect information that will be pertinent to the outcome of a case or verify information provided. Information must be collected professionally, efficiently, and within the boundaries of state and federal law and requires hiring a licensed private investigator, also commonly referred to as a private detective, private eye or PI. When hiring a private investigator it pays to know whom you are hiring.
Most every state in the U.S. requires an individual to complete a background check and obtain a license to be a private investigator but, in the few states where licensing is not required by the state, anyone can become a private investigator. Working with an inexperienced investigator can create significant liability to a client. Considering this, it is very important for a person to do their homework when hiring an investigator so you get the quality services they are paying for.
Private investigators offer an array of specialized services from background investigations, surveillance, computer forensics, and process of legal service, missing person and homicide investigations, criminal defense investigations and many more, while others specialize in a specific service. Regardless of the type of investigation, it is vital that an investigator be knowledgeable and compliant with state and federal laws that pertain to privacy, legal statutes in relation to medical and financial information, proper surveillance techniques, court procedure, and even victim’s rights.
A multitude of fee-based and free networks or associations are available on the Internet providing names of private investigators and private investigation agencies from state to state. These networks provide assistance in locating a private investigator specific to the service needed or in close proximity to the client, however these networks are not a regulatory agency, and many have no background information on the private investigator. While network services are beneficial and do simplify the search for a private investigator, sometimes network services can pose a problem when a client assumes they are hiring a reputable private investigator. Many networks do not provide investigative services themselves and simply serve as an advertising service not liable for the actions or quality of services provided by those listed. Many networks are simply a marketing tool that only require the private investigator or firm to pay a monthly fee to be listed, and do not verify the private investigator’s “good-standing” with any state regulatory agency.
Due Diligence when hiring a local private investigator:
Hiring a local private investigator enables the client to have a “one on one” consultation in order to discuss the case, discuss work to be performed, review documents, and verify references. Another major benefit of hiring a local private investigator is the investigators knowledge of the area and critical to conducting an effective investigation.
Having connections is an absolute benefit to any investigation. Knowing the neighborhood, local companies, business owners, residents, and “those in the know” cannot be overstated. Obtaining information from a “trusted source” and gathering information in a discreet manner is more dependable if the investigator is familiar with the demographic and geographic makeup of the area. In addition, it is an assurance a client will receive more personalized service.
Thomas Lauth is a 20-year veteran investigator and owner of Lauth Investigations International headquartered in Indianapolis, IN with additional offices in Colorado and Arizona. Lauth has and his team of investigators has provided investigative services that include skip traces, background checks, private and corporate investigations, criminal defense investigations for the state of Indianapolis, child abuse, sex trafficking, and even high profile missing person investigations.
According to Lauth, the benefits of hiring a “homegrown” private investigation firm are immeasurable. “Most investigations and preparation for litigation creates an emotional environment for those involved,” says Lauth. “As licensed private investigators, it important to be dedicated and it is our duty to represent our clients with the utmost integrity and moral conduct so as not to add to emotional injury.”
Author – Kym L. Pasqualini
Founder, National Center for Missing Adults
Lauth Investigations International, Inc.
201 N. Illinois St., 16th Fl.-South Tower
Indianapolis, IN 46204
Please contact Indianapolis Private Investigator, Thomas Lauth, for any investigations needed at 800.889.3463 or visit www.lauthinveststg.wpengine.com