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Ready to find out how your business and its products stack up against the competition? Use comparison analysis, and you can gain the insights you need to understand the competitive landscape. 

Comparison analysis enables business managers to leverage customer feedback from a variety of online sources – everything from web polls and surveys to social networks – to assess customer behaviors and trends. That way, managers can visualize how a business and its products rank against the competition and plan accordingly. 

Comparison Analysis: What It Means for Today's Business Managers

With comparison analysis, business managers can obtain meaningful competitive insights that they may struggle to obtain elsewhere. The service enables managers to analyze a broad assortment of customer data quickly, and as such, takes the guesswork out of transforming customer feedback into actionable insights. 

To better understand comparison analysis and what it means for today's managers, let's consider an example. 

Recently, a comparison analysis was used to assess the pros and cons of the Samsung Galaxy S7 and Apple iPhone 7. The analysis results painted a picture of how consumers viewed Samsung, Apple and their respective smartphones.

The smartphone comparison analysis results included:

• Overall, consumers preferred the iPhone 7 (95 percent) over the Galaxy S7 (92 percent).
• In terms of performance, consumers ranked the Galaxy S7 (92 percent) ahead of the iPhone 7 (87 percent).
• The iPhone (100 percent) earned a perfect score for its features, while the Galaxy S7 (94 percent) scored a near-perfect grade.
• Consumers were more likely to purchase a Galaxy S7 (98 percent) in the future than they were to buy an iPhone 7 (94 percent).
• The Galaxy S7 earned a star rating score of +68, while the iPhone garnered a star rating score of +57.

The comparison analysis revealed the Galaxy S7 and iPhone 7 are locked in a tight battle in the global smartphone market. Although both smartphones represent superior mobile devices, Samsung and Apple have plenty of work ahead of they hope to gain a stronghold of the smartphone sector. 

Furthermore, the smartphone comparison analysis provided valuable insights that other smartphone manufacturers can use to gain a leg up on the competition. 

The analysis highlighted consumer preferences toward the Galaxy S7 and iPhone 7. It also showed the strengths and weaknesses of both devices, ensuring smartphone manufacturers around the world can obtain meaningful insights into how consumers perceive the smartphone market. 

Ultimately, a comparison analysis can provide actionable insights to businesses in any sector. The analysis helps managers understand the state of a competitive landscape so they can identify ways to improve produce development both now and in the future. 

Why Should Business Managers Deploy Comparison Analysis? 

Business managers constantly search for the latest and greatest data analysis technologies. Now, comparison analysis provides a fast, effective data analysis solution designed for managers at companies of all sizes.

Comparison analysis is easy to use and enables managers to display competitive insights via charts, graphs and other visualizations. Moreover, comparison analysis helps managers speed up their data analysis efforts and gain the insights they need to make more informed decisions, faster than ever before. 

Perhaps best of all, comparison analysis offers a time- and cost-saver in contrast to traditional data analysis methods. No longer will managers need to allocate significant time and resources to analyze customer surveys or conduct extensive data mining. Instead, managers can use comparison analysis to learn about the competitive landscape and enhance their product development efforts. 

Comparison analysis gives managers the competitive insights they need, when they need them. As a result, the service may prove to be exceedingly valuable to managers across all industries. 

Summary

Many business managers struggle to gain the competitive insights they need to make informed decisions. Despite managers' best efforts, limited time and resources may be available to fully analyze customer data sets. Meanwhile, understanding how a company and its products stack up against the competition rarely, if ever, is simple, particularly for managers who lack data analysis expertise. Today, comparison analysis helps managers streamline their data analysis efforts. Comparison analysis allows managers to assess a wide range of customer data and uncover insights into industry patterns and trends. Therefore, the service helps managers find the best ways to help a company transform its product development processes into a competitive advantage.