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Key Business Analytics by Bernard Marr

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Competitor analytics

What is it?

Competitor analytics is important for marketing and strategic planning. It allows you to understand your competitors in more than just a cursory ad hoc way. Not everyone in your market is your competitor; some may sell similar products but to a different audience and some may simply be too small to be your competitors. You need to know who your real competitors are, how they are positioned in the market and in relation to your business.

By understanding their strengths and weaknesses you can identify opportunities to exploit and threats to navigate or mitigate through strategic planning. Plus, competitor analytics pulls all the relevant information on all your competitors together so that you can see the ...

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