By Ysquare Posted September 11, 2023

Cheat sheet for performing competitive analysis of your platform.”Do your competitive analysis before your customers do”.

In the tech world, right from analyzing #technologies, frameworks, tools and libraries everything starts with a #competitiveanalysis at least at a basic level to ensure which one suits us the best as a buyer.

For companies, #competition is healthy unless it is a mere comparison to rush up your goals and vision. In the tech world, big players like Amazon, Microsoft, Apple and Google show us how there is a heavy competition among themselves in launching any new #innovation which is seen as a huge positive across the globe among their customers and users.

Every business will be mandated do a competitive analysis at some phase of their journey.
1. Let it be a #newproduct trying to create a fresh market, the current existence practice or operations becomes their competition.
2. Let it be a promising product in an established space trying to acquire new customers, then the existing players become their competition.
3. Let it be an established player in the market, then the emerging players with new innovations become their competition.

#ysquare, we follow an iterative cheat sheet to study the #competition of our customers when we build  software solutions  for them to give us a sense of where the new solution can provide value.

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