How to Write an Analysis in MS Word?
Writing a business analysis can take a lot of time for research, thought assembly, a few minutes drinking coffee and trying to figure out that one word you can't really say, but it's at the tip of your tongue, and a few more minutes giving up and writing on only to remember it halfway and re-editing your sentence. Sometimes, you've got a good flow of ideas going, and you're on a writing-spree, and other times you have no idea what to do, and in these times, Microsoft Word works well as an editing format since it makes your work easily editable throughout the process and its spelling checker saves you time during proofreading and editing. With that said, it can't hurt to have a bit more knowledge under your belt in writing your analysis, so here are a few more tips for you.
1. Have an End Goal
When writing a business analysis on any topic, ask yourself a straightforward, yet important question; "As a business analyst, what can I do to improve the state of my company?" Are you trying to make a competitive analysis? Or a SWOT analysis? Maybe your task is to focus more on your business, so maybe a business impact analysis or gap analysis? Before you begin drafting, make sure you know where you want to end so you can start from the beginning. Here's a fun fact; professional business analysts are required to not only understand the inner workings of the company they're working for but also set a target of what they want the company to realistically become in the future through projects, product proposals, partnerships, etc. — which are successfully achieved through great analysis reports.
2. Gather Data about the Current Market
Knowledge about the market and its cycle, what's trending, what's viable but slowly fading out, and what the seasons bring and push off helps established the state of the market in your analysis. You can do this by having a market cycle or a pattern of the market for a set amount of time. For example, during the holiday seasons like Christmas and New Year's Eve, what is the most in-demand at the time? Or during the summer break? Or spring? Or on the 4th of July? Having solid data on the market flow gives you an advantage on what to sell, what doesn't sell as much, and how you can capitalize on the seasonal trends set.
3. Understand How Your Competitors Market Their Products
Have you ever heard of the saying, "keep your friends close and your enemies closer?" When making an analysis, it's a good idea to observe the competition and see how they market their products and services, in what way, and is there a pattern they follow? What is their business plan? Do they advertise their beer and swimwear to college students during the summer break? Or maybe to mothers during the back-to-school rush? Knowing what your competitors do allows you to copy what they're doing right, make a few adjustments to fit your business brand, and maybe even surpass them with their pattern. Do not underestimate what you can do with this knowledge.
4. Compare & Contrast
Terms like "root cause" and "cause and effect" come into mind when trying to compare and contrast your company and it's advantages and disadvantages in your analysis. When making an analysis, you have to be objective and, even though you love your company so much, you need to keep it professional. Do not be afraid to point out what you are doing well, what you are doing poorly, and what can be improved on since small skill adjustments can have major impacts in the future.
5. Use Valid Data
Finally, use only the data you know is true and reliable. In your research (which I hope you're doing to make an analysis), you will find vast quantities of knowledge — do not fall for this pit trap, you need to finely comb out everything that is unreliable and use only the information you got from reputable sources to give your analysis the highest chance of success.