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competitive landscape analysis
How can you track your competitors, identify arising threats and detect early warning signals?
A powerful way is to build (and keep updated) a competitive landscape analysis. The key elements of an effective competitive landscape analysis include:
1) A data-informed approach: feed the landscape with the best data you have, from win/loss data to primary interviews to third-party market forecasts. Subject-matter expertise is important, but gut feeling is dangerous
2) A visual that resonates with the audience: design a visually captivating, low-complexity landscape output. Decreasing the amount of cognitive load needed to process the visual, will help the audience more easily remember the salient points.
Below, I show two different Competitive Landscapes analyses and a source database used to calculate the X-axes values.
By applying a graphical treatment and a uniform set of evaluation criteria, the Competitive Landscapes below can quickly help assess how well a company's competitors are executing their stated visions and how well they are performing in terms of revenues, market share and/or other competitive metrics.
