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Where Your Business Is Today, Going Tomorrow, and How to Change Directions
Length: 5 Minutes
The term technical analysis is commonly thought of as a technique that helps businesses and financial advisors help their clients make better investment decisions. While this is true, these techniques and methodologies used in technical analysis can also be used to help businesses make better business decisions too. These techniques can yield similiar results in identifying patterns, trends, behaviors, and forecasting. Ultimately, the practice of technical analysis can help businesses better understand their comptetition, place their products more effectively, determine promotional opportunties, make more effective pricing strategies, and improve product offerings.
There are generally two types of technical analysis approaches that businesses can utilize to meet organizational goals and objectives, which include a top-down and bottom-up approach. Top-down focuses on the macroeconomic and the big picture view to better understand long-term patterns, trends, and averages. A bottom-up approach looks from within organizations at a microeconomic level to better understand how a company is actually doing, as well as, it's own trends and averages. Combining proper analysis with these two main approaches help businesses make more precise strategic decisions and choose their tactical actions more wisely.
As of , more and more businesses are beginning to fully utilize the advantages that technical analysis brings to their businesses. Technical analysis is to business decisisons what a blueprint is to building a house. Would you build a house without a blueprint? You could of course, but there's really no telling what you'd end up with. Technical analysis is simply a means to enable your business decisions. As the owner, operations manager, marketing manager, or associate of your respective business, you must still make these business decisions, by taking action within your business. It's important to know that there is no silver bullet when it comes to technical analysis. There is no one method that will solve all your analytic woes. For what technical analysis is to a blueprint, the techniques you ultimately employ are to a set of carpenter's tools. You must apply the right tool to the right problem set, but technical anaylsis can help you determine which tools your business needs to use in order to be effective.
For decades, big business has understood the power gained through technical analysis techniques applied to their businesses. Today, through the use of modern technologies, these insights can now be made available to small and medium sized businesses too, and for a fraction of what it used to cost. Market Action Research can help bring technical analysis solutions to your business regardless of the size, industry, products, or location.
In our personal lives, people tend to base their decisions on multiple factors, but are generally based on logical evidence, intuition, and often some other various combinations of ideas within those spectrums. As creatures of habit, it is no wonder that many business owners often base their decisions on these same set of factors. Entirely relying on intution alone may be sufficent when it comes to making certain decisions. For example, like making a lunch-time decision, such as whether to have the ceasar salad or tuna sandwhich at a deli you've never been to before. Without knowing the facts, such as "How long has the tuna been sitting for?", "How safe is their food storage procedures?", "Is this deli known for their tuna sandwhiches or ceasar salads?", then making your best guess on the information you have might actually save you and guide you to a better decision.
In the year , scientific methods have become more prevelant in our every day lives, and will likely continue to become more integrated as time goes on. It is common practice for people to wash their hands with soap, but why? Today, this answer is obvious, but was not always the case. At some point, through scientific processes, it was discovered that people's hands will be cleaner and they will be better off washing their hands with soap than without it. Today, this has become second nature to many people. As technology becomes easier to use, people find ways to naturally adapt their every day choices, like washing their hands, to utilize scientific data to make more optimital choices and decisions. For instance, in 2014 Fitbit, a wearable technology company launched the "Fitbit" activity tracker that helped people log their food, activities, weight, steps, calories, distance, and eventually added other features such as heart rate, oxygen saturation (SPO2), water intake, exercise modes and much more. This made keeping track of personal health data and trends easier, and provides a way to better forecast and make better health decisions.
Simply put, technical analysis for your business can be much like checking your Fitbit dashboard, by having a clear understanding of the current state of your business, competition, and industry to make healthier business decisions. Through expert analysis by the Market Action Research team, your business can make the best business decisions by having all of the facts in front of you and your team. Our team can manage parts or all of your technical analysis operations professionally and with greater speed and precision. We can also help you determine the best technical analysis solutions to fit your business needs. Contact us today to learn more these services and schedule your free consultation.
Professional Research & IT Road Maps
Market Action Research, Inc. ("MARS") offers professional consulting services to provide outside expertise, including research, IT Road Maps, adding team expertise, and optimization. The MARS team can help you do technical analysis, add expertise through team augmentation, and optimization of your technological systems too.
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Making A Calculated Approach Your Business Advantage
"Everything turns into mathematics"
Some businesses owners grapple over whether technical analysis solutions could help their business, either because they think they don't have the budget, don't think they will be able to understand it, or don't really understand how it can benefit their business. However, in the year , technical analysis solutions are becoming more affordable for all sizes of businesses. Plus, the benefits of technical analysis solutions outweigh the time and costs associated with learning the hard way through trial and error. Each project is professionally delivered and discussed to make sure our clients fully understand what the data is saying. This gives our clients a mathematical advantage that leaves no room for argument, informs better business decisions, and gives business owners to take action confidently.
Hiring the Market Action Research team for your technical analysis solutions will help provide the guidance needed to make the most informed decisions possible. We provide this service through the use of technological methodologies and sound evidence-based techniques. If you're ready to start a technical analysis project, have a question, or need help determining the best solutions for your business, then contact us now or schedule your free consultation.