(via), Outward Insights, LLC conducted a a survey about the effectiveness and use of competitive intelligence across a number of industries. The results are interesting:

A majority of U.S.-based companies that claim to use competitive intelligence (CI) to guide their decision-making processes either don't use intelligence enough or use it the wrong way. This excludes nearly 30% of companies that don't even have, or don't feel the need for, a CI system, despite today's ultra-competitive environment. (...) Among other key findings:

Wide industry differences were discovered among respondents.

Twenty-nine percent of respondents admit that they do not have "an organized and systematic way to deliver competitive intelligence," including 14% of the respondents with more than $1 billion in revenues.

Of those lacking "an organized way," 28% said they don't have a need for it and 17% said they are unsure how to do it.

Nearly 40% said they "rarely or never" incorporate likely competitor reactions into their new product plans.

Bank of America is the top "eagle," the best corporate intelligence user, according to the respondents.

(...) Indeed, one of the most beneficial aspects of competitive intelligence - the ability to receive early warning of competitor activity or emerging industry trends - is going largely unrealized. Only half of the companies surveyed said they had a process for "delivering early warning of emerging threats and opportunities." (...) Additional problems respondents believe hampers the success of CI in their respective companies includes:

Insufficient funding - 43%

Internal bureaucracy - 41%

Intelligence team lacks sufficient clout - 28%

Executives do not recognize value of intelligence - 20%