Notes

what:
A market opportunity analysis, also known as an opportunity assessment, refers to the process of researching how and where you can connect with more potential clients and grow your revenue share. It involves finding competitors, understanding your audience, and discovering the potential risks. Through conducting a market opportunity analysis, you’ll be able to prioritize your new business ideas based on how profitable and risky they may be.
The analysis can help you expand your existing business with new product development, additional product lines, pivot into new opportunities and markets, or reach new aspects of your current market.
When:
An opportunity analysis is an evaluation tool used when determining the viability and profitability of developing a new hotel or property, or expanding an existing one. It systematically looks at external environments with the goal of understanding demand, consumer needs, market acceptance and economic factors.
This evaluation helps to target the best business model to use in the situation. Investors can choose the most suitable available business model based on the desires of the owner, the realities of the market, future developments and possibilities of the land and buildings available for the property.
procedure:
The first step is to determine all of the potential opportunities you want to look into. What segment do you want to expand? What kind of customer are you hoping to attract? Are you looking to acquire another business or partner with another business? Are current events creating a potential opportunity?
Step Two: Understand Your Target Customers
In the second step of your analysis, you seek to deeply understand your potential customers and what they need. You conduct this part of your market opportunity and now Asus with a variety of tools including:

Customer interviews
Surveys
Demographic information
Customer journey maps

Step Three: Research the Competition
At this stage, you need to understand who all the current players in the market are. Competitor research helps you don’t understand how big the markets are is and how existing products are positioned in the market. You’ll also see how crowded the current market is. A competitive analysis examines who the major players are, so you can develop a plan to compete with them once you enter the market.

Step Four: Consider External Factors
A number of external environment factors always shape and change the marketplace. Use the acronym STEEP to help you remember the five main forces to consider as you make your plans.
Social,techincial,economical,ecological,political

Step Five: Consider Internal Factors
In the final step of your market opportunity analysis, you must take a close look at your own business’s capability. Do you have the technology, Financial Resources, Workforce, and skill to invest in a new product or service? if you are launching something Innovative, will you be able to hire people with the necessary skills? Are there new teams or departments you’ll need to create an order to manage this opportunity? What other costs are associated with bringing this idea into reality?

Application:
It is crucial because it helps a business understand market conditions. It helps them forecast demand and supply and, consequently, financial returns from the business. It indicates the competitiveness of the industry and costs associated with entering and exiting the industry. It is very important when planning a small business. Analysis helps to identify which stage an industry is currently in; whether it is still growing and there is scope to reap benefits or has reached its saturation point.

With a very detailed study of the industry, entrepreneurs can get a stronghold on the operations of the industry and may discover untapped opportunities. It is also important to understand that industry analysis is somewhat subjective and does not always guarantee success. It may happen that incorrect interpretation of data leads entrepreneurs to a wrong path or into making wrong decisions. Hence, it becomes important to collect data carefully.

OA using Software : powerBI
The Opportunity Analysis built-in sample contains a dashboard, report, and dataset for a software company that has two sales channels: direct and partner. The sales manager created this dashboard to track opportunities and revenue by region, deal size, and channel.

This sample relies on two measures of revenue:

Revenue: A salesperson's estimate of what the revenue will be.
Factored revenue: Calculated as revenue X probability% and is accepted as being a more-accurate predictor of actual sales revenue. Probability is determined by the deal's current sales stage:
Lead: 10%
Qualify: 20%
Solution: 40%
Proposal: 60%
Finalize: 80%
PICTURE 1
PICTURE 2
Opportunity Count Overview page
East is our biggest region in terms of opportunity counts.
On the Opportunity Count by Region pie chart, select each region in turn to filter the page by region. For each region, notice that partners are pursuing significantly more large opportunities.
The Opportunity Count by Partner Driven and Opportunity Size column chart shows that most of the large opportunities are partner driven, while most of the small and medium opportunities are not.
In the Opportunity Count by Sales Stage bar chart, select each Sales Stage in turn to see the difference in regional count. Notice that although the East region has the largest opportunity count, all three regions in the Solution, Proposal, and Finalize sales stages have comparable counts. This result means we close a higher percent of deals in the Central and West regions
picture 3
Revenue Analysis page
East is our biggest region, not only in opportunity count but also in revenue.
If you filter the Revenue by Sales Stage and Partner Driven chart by selecting Yes for Partner Driven, you see a revenue of $1.5 billion and a factored revenue of $294 million. Compare these amounts to $644 million and $166 million for non-partner driven revenue.
Average revenue for large accounts is larger at 8 million if the opportunity is partner driven, compared to 6 million for non-partner driven business.
For partner driven businesses, average revenue for large-sized opportunities is almost double that of medium-sized opportunities.
Average revenue for small and medium businesses is comparable for both partner driven and non-partner driven business.
Clearly our partners are doing a better job than non-partners selling to customers. It might make sense to funnel more deals through our partners.