Over 1,000 people were surveyed for a study.
This article cites a State of Competitive Intelligence report for 2020 by Crayon revealed that 94% of brands are investing in competitive intelligence (CI). CI is useful for companies regardless of the company size, specially for small businesses looking to establish themselves as ecommerce retailers.
29% of respondents were full-time CI professionals and 46% were part-time. 48% of participants state that the industry they work in has become more competitive in the last three years. 41% of those surveyed say their industry has become somewhat more competitive in 2020.
57% of organisations have teams of two or more dedicated to CI. This was 37% in 2018. For 98% of respondents, top sources of competitive intelligence are competitor websites. For 97% its word-of-mouth by customers, and for another 97%, its word-of-mouth for employees.
[5 minute read]