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Competitive Analysis identifies and evaluates the business strategies of your competitors, resulting in the analysis of strengths, weaknesses, opportunities and threats (SWOT) for your product relative to the competitors’ in a business ecosystem. Further analysis may provide an insight to your product strategy. The analysis is often conducted in the early stages of product development. As the dynamics of products in the ecosystem change rapidly, many companies have embraced agile competitive analysis as a part of their product strategy.