We previously discussed how your company has data and should be using it. The first step is descriptive analysis which we discussed a few weeks ago. This provides a foundation for diagnostic analysis that enables you to drill down deeper and mine your data looking for factors that are influencing trends and patterns. Diagnostic analysis gets to the heart of the business processes and allows you to examine correlations between variables affecting business outcomes. This level of analysis also can incorporate external data which gives you a bigger view and allows you to evaluate correlations more precisely. You can increase the accuracy of your decisions and reduce the risk of evaluating correlations incorrectly.

SWOT is a common form of diagnostic analysis that can support your company’s strategic planning efforts. This business discipline investigates the strengths, weaknesses, opportunities, and threats of your business. Examining what your company is best at can be used to gain competitive advantage. Weaknesses can be addressed through continuous improvement. Opportunities can be pursued to help your business grow. And threats can be studied and mitigated before they negatively impact your business.

We at ConradBI want to help take your company to the next level.  With diagnostic analysis we can make further use of your descriptive analysis platform and gain a better understanding about your business processes. We can identify strengths and leverage them, turn weaknesses into strengths, take advantage of opportunities, and defend against threats.  We can help you better your business.