How Can Entrepreneurs Use Big Data for Competitive Analysis?
Competitive analysis is essential for understanding the strengths and weaknesses of competitors. By leveraging big data, entrepreneurs can monitor competitors' activities, such as pricing strategies, marketing campaigns, and customer reviews. This information can be used to identify gaps in the market, develop counter-strategies, and stay ahead of the competition. Additionally, big data can highlight emerging trends that competitors might be capitalizing on, providing an opportunity to pivot or innovate accordingly.