What does 'Competitor Analysis' mean?

Competitor analysis is a prominent feature of many software applications, providing users with valuable insights into the competitive landscape of their industry. This feature is designed to help businesses gather and analyze data about their competitors' products, services, and overall strategies. With the help of this feature, users can gain a better understanding of their competition and make informed decisions about their own business strategies. One of the key aspects of competitor analysis is the ability to track and monitor a wide range of competitors, including both direct and