SWOT analysis is a comprehensive analysis of strengths and weaknesses, also known as TOWS analysis, situation analysis and Dawes matrix. It is often used for enterprises to formulate strategies and analyze competitors, and now it is also used for product analysis and product opportunity evaluation. SWOT is a data analysis method that data analysts must master.
In SWOT, S (advantage) is advantage, W (disadvantage) is disadvantage, O (opportunity) is opportunity and T (threat) is threat. According to the complete concept of enterprise competitive strategy, strategy should be an organic combination of what an enterprise can do and what it can do, that is, the advantages and disadvantages of an organization and the opportunities and threats of the environment.
In a sense, SWOT analysis method belongs to the internal analysis method of enterprises, which requires the data analysis department of enterprises to conduct data analysis within the established scope according to their own conditions. The competitive theory put forward by Michael Porter, a famous competitive strategy expert, thoroughly analyzes and explains the "possibility" of an enterprise from the perspective of industrial structure, while competency-based management scientists use the value chain to deconstruct the value creation process of an enterprise and pay attention to the analysis of the company's resources and capabilities.
SWOT analysis method is formed on this basis, and data analysts are familiar with it.