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With the rise of digital marketing, the business world has evolved into a competitive market. In such a scenario, a competitive analysis report is a crucial tool to understand your competitors and the industry landscape better. What is a Competitive Analysis Report? Why is a Competitive Analysis Report Important?
Businesses are embracing a technology-driven approach to gain a competitive advantage. The immediate challenge for the survival of many organisations during the current time is how to recognise, prioritise, and adapt to the range of real external threats that now impact competitive advantage.
This is our third blog of the widely used SWOT (strengths, weaknesses, opportunities and threats) analysis to assess the value of Win/Loss analysis. You can uncover revenue opportunities such as an unintended use of your product or new markets for your products that you hadn’t targeted where there is very little competition.
In today’s fast-paced and ever-evolving business landscape, staying ahead of the competition is more challenging yet more crucial than ever. Having a dedicated and comprehensive competitor analysis framework is critical, as is the ability to access all the competitive information you need in one place.
Step 2: Understanding competitors Competitive analysis IT leaders must understand the competitive landscape to position their organization for success. Understanding the company’s competitive position allows IT leaders to mindfully act to implement technology for competitive advantage.
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