Chapter 5. Conducting Competitive Analysis “[Analysis is] the skilled application of scientific and non-scientific methods and processes by which individuals interpret data or information to produce insightful intelligence findings and actionable [34] recommendations for decision makers.” — BABETTE BENSOUSSAN AND CRAIG FLEISHER, BUSINESS AND COMPETITIVE ANALYSIS THE DEVIL IS IN THE DETAILS THAT YOU HAVE JUST COLLECTED BY doing a thorough investigation of the marketplace. In this chapter, I’m going to cover the basics for tackling the analysis section of the Competitive Analysis Matrix. By the end of the chapter, you’ll know several useful techniques that will help you to easily convert the mounds of raw data in your grid into actionable learnings. My goal is to prepare you to take a stance on the viability of your product and to make recommendations about how to move forward — in other words, Tenet 1, Business Strategy (Figure 5-1). Figure 5-1. Tenet 1: Business Strategy