Reverse Engineering must be a new term for many SEO experts. Reverse Engineering is the process of finding link opportunity through analyzing the back links of competitors. And it's one of the best method for getting high quality back links quickly. Link builders who are best in reverse engineering are dominating many competitors quickly. Through reverse engineering you can find high quality link opportunity in a very short period. For example, through reverse engineering of your top competitors you can get data about the source from where they're getting links such as from forums, from blogs as guest blogger etc. And for reverse engineering you'll have to find a nice tool. In my opinion open site explorer, SEO spy Glass are good one for reverse engineering.
SEO Spy glass is my favourite and it seems that its one of the only tools which doesnt get effected by algorithm changes ( or at least as much as the others )
It's an competitor analysis tool, so it'll not be affected by algorithm change. It was using Yahoo site explorer API earlier for collecting data but after site explorer service was closed by Yahoo on last November, SEO Spy Glass is now collecting data from other sources.
Not just all of the mentioned in the poll but what not else. Lots of alexa/quantast/compete to see estimates of traffic and related sites too, queries like domain mentions ( as in "domain.tld -site:domain.tld" ), related sites, including links from google. As of late - after the closing of Y! site explorer I tend to spend more time with bing's webmasters tools - they show a bit of luck with links and all, tons of searches over social media - socialmention.com and similar sites...simply can't manage to include all that comes on the way from the top of my mind now. As in everything - it depends on the situation, the context and the celestial state LOL
Reverse engineering is associated with finding the back links of competitors not traffics analysis. Alexa, compete are for traffics analysis. And regarding Bing webmaster tool, it's very helpful. Am also using social mention for social media data analysis.