Only about a half of companies actually use the competitive intelligence they collect, a new survey reveals. In an Academy of Competitive Intelligence survey, only 55% of competitive intelligence managers and analysts said that their input made a difference on major management decisions.
In addition, they said executive leadership frequently turned to them merely to confirm beliefs they already reached. Companies spend about $20 billion on market research annually and about another $2 billion on analyzing specific competitors, says Benjamin Gilad, the academy’s president. Competitive intelligence (CI) clearly improves decisions.
Author: William Comcowich