2. Learn Your Strengths and Weaknesses
Trend analysis can help your business identify its weakness and strengths. With this information, you can eliminate your shortcomings and double up on your strengths. Do we hear SWOT analysis? Say it ain’t so.
This will give you a unique edge over the competition. For instance, you can find out why customers choose competitor products or services over yours and use this to improve how you convey your message.
3. Be Proactive
Being able to anticipate problems and solve them before they occur is one of the main ways a business can remain ahead of the competition.
The best way to anticipate any future problems is through trend analysis. It allows you to project the trend into the future and see how customers are affected and how their needs change.