It is the most important part of business intelligence process.
It helps to identify the opportunities and threats that a market is going to face.
This is the research done by the businessmen for acquiring detailed information of all the areas of business and maximizing the sales and profit by using these informations.
This study helps the companies to determine which product is in demand.
Basically, it is done to know where the money can be spent for increasing the sales and profits.
It is very important to make a wise and informed decision.
It is conducted to know whether the company can succeed in a new region or to simply select a marketing approach for any product.
It can be carried out both qualitatively and quantitatively.
It is done to identify the problems and by using this information, decisions can be made to overcome the issue.
It is done to understand customers better and to communicate with the stakeholders.
To minimize the uncertainties and risks and it also helps to track the competition in the business sector.
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