SWOT Analysis must contain a two-dimensional look from both a product and a brand point of view. JIM JOSEPH (Contributor), writes in this article about some points which are important in any business. They are:

1. Business strength should become unique competitive advantage.
2. Challenge is the key word and focus on the factors that keep us from being competitive and identify our weakness.
3. Business house must think of various ways to expand their brand, because opportunities will be likely to impact business.
4. Business must identify the potential threats, and finally, focus on actionable items to make SWOT analysis realistic.

Read more at: http://www.entrepreneur.com/article/246434

Market research is important for any business. Decisions are taken based on market research. Through market research, one can identify new opportunities, can minimize business risk and also helps to communicate with customers better. There are various stages of market research which all businesses should follow. To know more about the various stages of market research, follow: http://www.smallbusinessbc.ca/starting-a-business/how-research-your-market

Many marketers find themselves faced with overwhelming amount of data and organizational complexity, rapidly changing customer behaviors, and increased competitive pressure. Data or information has always been the USP, but now people are not using that USP in their advantage. If an investment is made in big data, one can extract only the relevant information and analyze it to transform the business decisions for the future.

Please go through the link for more details:http://www.marketingprofs.com/charts/2014/24321/marketers-and-big-data-in-2014-barriers-budgets-and-opportunities