Getting business results from analysis has become a more important facet of competitiveness due to a number of important reasons:
- Globalization has increased the absolute level of competition present in most marketplaces.
- Global economy is increasingly being characterized as a knowledge economy.
- New economy is characterized by increasing imitability, whereby competitors have a greater ability than ever before to quickly replicate and copy most facets of a new product or service offerings.
- Problems and opportunities are caused by increasing complexity and speed.
All these reasons necessitate good competitive insights which requires effective analysis. The following 10 methodologies will help you evaluate data and information more effectively and more decision relevant:
- BCG Growth/Share Portfolio Matrix
- Competitor Analysis
- Financial Ratio and Statement Analysis
- Five Forces Industry Analysis
- Issue Analysis
- Political Risk Analysis
- Scenario Analysis
- Macro environmental (STEEP/PEST) Analysis
- SWOT Analysis
- Value Chain Analysis
