Competitive analysis can help in strategic decision making by providing insights into the strengths and weaknesses of competitors. This information can be used to identify opportunities for growth and areas where the company can gain a competitive advantage. For example, if a competitor is weak in a certain area, the company can focus on strengthening that area to gain an edge. Additionally, competitive analysis can help companies understand industry trends and customer preferences, which can inform strategic decisions about product development, marketing, and other key business areas.
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