Analysis is to conduct a systematic, methodical and detailed investigation of something with the aim to explain things that may have an influence on something else. For example:
- A slow economy will influence sales levels
- A product or service of superior offering can impact positively on sales despite a slowing economy
- Staff morale can be influenced by management style and attitudes
Companies do not exist in a vacuum or isolation. They are part of a ‘symbiotic network’ that is characterised by “internal and external” factors. These factors influence the company’s actions and reactions.
Analysis being a detailed investigation attempts to:
- Discover trends, impulses or signals that could influence the way a company does things
- Group the above into common themes
- Divide common themes into internal and external categories
- Examine how the common themes influence the company positively or negatively