Prudent business decisions are made on the basis of both a deep understanding of the factors that directly or indirectly affect the business, and the ability to identify trends lying within data. Organizations that neglect to conduct deep strategic analysis often suffer from:
- missed opportunities to grow and improve financial performance;
- increased risks due to incomplete assessments;
- poor decision making and inefficient resource allocation;
- limited adaptability;
- declining profits; and
- loss of competitive advantages and weaker market positions.
Strategic analysis is vital for any business, as it provides a comprehensive assessment of market dynamics, the competitive landscape, and the internal state of the given organization. It also helps businesses to:
- identify opportunities and threats;
- objectively evaluate their current state, including strengths and weaknesses;
- make informed decisions and improve the accuracy of long-term planning;
- find and develop competitive advantages;
- allocate resources effectively;
- enhance risk management strategies and minimize negative outcomes; and
- increase organizational flexibility and adaptability in rapidly changing environments.
Understanding the market context is equally important for both well-established and new companies
Business and Market Analysis
The ACT consulting and analytics team provides businesses with a holistic view of their market by gathering and analyzing both primary and secondary data. Doing so helps to unveil new opportunities and assess growth potential in existing or new markets.
Critical elements of external factor analysis include:
- identifying key market trends;
- pinpointing the main factors influencing the business, their potential impacts, and the best ways of responding thereto;
- assessing the the competition, ascertaining competitor strategies, and identifying their strengths and weaknesses;
- studying best practices;
- market segmentation; and
- analyzing customer behaviors and needs.
In addition to analyzing external factors, ACT helps businesses to examine internal company data to ensure alignment with market trends and their long-term goals. Internal data analysis includes:
- evaluating the organization's current resources and capabilities;
- assessing the effectiveness of various business areas;
- evaluating the business’s client portfolio
- scrutinizing organizational structures, systems, and processes; and
- analyzing business activities to identify opportunities for value creation and optimization.
Consumer Insights
Understanding consumer behaviors, desires, and needs is crucial for any business to succeed. Without having clear insights into consumer expectations, companies often fail to meet their goals and waste resources.
For two decades, ACT has studied and analyzed consumer behavior in international markets. Explicitly, we enable clients to clearly understand the desires, behaviors, requirements, and priorities of their consumers. Based on consumer research and data analysis, we offer companies insights that contribute to:
- updating and developing products or services according to consumer eeds;
- designing optimal sales strategies;
- establishing effective marketing strategies and consumer-focused communication campaigns;
- creating greater value for customers, and increasing their satisfaction and commitment by developing attractive loyalty programs; and
- effectively allocating resources