Security News > 2021 > March > 61% of businesses say competitive intelligence has made a direct impact on revenue

61% of businesses say competitive intelligence has made a direct impact on revenue - a 17% increase over last year's figure of 52%, a Crayon report reveals.

Competitive intelligence teams continue to improve when it comes to initiating strategic action across their organizations.

"Businesses have never been more agile than they are right now. Whether you want to launch a product, a product feature, or a marketing campaign, the barriers to doing so are at an all-time low - which means the need for competitive intelligence is at an all-time high," shared Laura Taylor, CMO at Crayon.

The study also found that businesses continue to encounter roadblocks: 44% say it's a struggle to gather intel in a timely manner - a staggering figure considering the fact that competitive intelligence practitioners spend 33% of their time conducting research.

This helps to explain the dramatic jump in the number of businesses seeing direct revenue impact as a result of their competitive intelligence investments.

Amongst businesses that share competitive insights on a weekly basis, 72% say they've seen direct revenue impact as a result of their competitive intelligence investments.

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