Large Language Models (LLMs) like ChatGPT, Gemini, Claude, and Grok are transforming SaaS competitive research, but hallucinations remain a critical risk. A single fabricated funding round, executive name, or product integration can derail strategy and erode client trust. This guide explains what LLM hallucinations are, why they matter in SaaS analysis, and how to measure them using benchmarks like HHEM-2.1 (Vectara Hallucination Leaderboard). Learn proven techniques to detect and mitigate inaccuracies, ensuring your AI-powered research workflows remain accurate, grounded, and reliable.