7 Analysis Questions To Ask (With Example Answers)
Updated July 9, 2022
Analysis is the process of examining a topic or substance to gain more insights. Regardless of what you're evaluating, asking clear questions can reveal new aspects or expand your knowledge. If you're curious about a situation, task, or product, you must ask analytical questions to learn more about it. In this article, we explain what analysis questions are, present seven questions you can ask when performing analysis, and outline common examples of analysis.
What are analysis questions?
Analysis questions are inquiries that enable you to have a better understanding of a situation, task, or object. From learning about a market to examining a job and evaluating a duty, there are various instances where you can ask these questions. When performing inquiries, you typically apply analytical skills, which are qualities for observing and interpreting a subject to develop ideas or generate solutions. Asking specific questions can help you receive valuable answers.
7 analysis questions with sample answers
Here are seven analysis questions you can ask to gain more insights into a situation, task, or object:
1. What goal do you want to reach through your analysis?
This question helps you gain direction to conduct analysis. The information you want to discover is your goal for performing an analysis project. Aim to have SMART goals, which are specific, measurable, achievable, relevant, and time-based.
Example answer: "The goal of analyzing this business is to determine aspects for improvement and support management decision-making. We aim to facilitate positive change across all departments by conducting audits of operations and tasks. By analyzing the company within two months, we can learn more about how it can gain an advantage over competitors. We plan to provide results of our analysis to upper management within the first week of the year."
2. Who would benefit from your analysis?
Another important question to ask is who the final users of your analysis results are. Learning about the stakeholders involves understanding their needs and expectations. You also want to consider their technical skills when preparing the results of your analysis. For example, if the stakeholders are nontechnical professionals, you may prepare technical reports using simple language.
Example answer: "Analyzing jobs in our company benefits employees. Through job reviews, we can learn their level of satisfaction in their roles. As we have technical professionals in our team, we can also include technical information in reports. Our analysis may determine whether to create new roles to fulfill company needs or create better compensation strategies."
3. Where would you gather data from?
This question helps you identify data sources for analysis. For example, if you're analyzing jobs, you may collect data directly from employees. You can also gather data from various sources and confirm their accuracy.
Example answer: "To learn more about the economic recession, I would meet directly with industry experts in finance, economics, and accounting. I would also check online databases for economic trends to recommend whether the company can reduce or increase production to meet exportation demand."
4. How would you ensure data quality?
As you may get data from various sources, it's important to confirm the accuracy before starting your analysis. Using reliable data can help you obtain valuable results that lead to effective decision-making processes.
Example answer: "After observing the work desk and collecting measurements, I would compare it with international standards for work desks. I would also compare my observations with the organization's requirements for workplace safety."
5. What analysis tools or software would you use?
Depending on what you're analyzing, you may need computer software and analysis tools. For example, analyzing and simulating a business process may require you to use computer applications. Analysis tools and computer software can help you evaluate situations or tasks more efficiently.
Example answer: "We would use spreadsheets to perform statistical analysis of company data. From our research, these software applications would enable us to identify trends and patterns, which we can include in our reports. We would also consider programming packages if advanced analysis techniques are important."
6. Within what timeframe would you perform your analysis?
Having a timeframe can help you analyze situations effectively. For example, if you set a goal to analyze a market within two months, you can create an action plan to complete the analysis project by this time.
Example answer: "We plan to complete our analysis of the market by the quarter's end. We would determine our customer's personality in the first month and obtain the industry's outlook in the second. This would support our efforts to become an industry leader."
7. What measures would you use to evaluate your analysis?
After analyzing a situation, task, or object, you want to evaluate your results. Use key performance indicators (KPIs) to measure the effectiveness of your analysis.
Example answer: "As part of our review session, we would check our analysis of the market against the profit margins that our competitors show. If our market analysis is accurate, their product's popularity would align with the revenue they earned and profit made. This would help us plan for the next fiscal year."
Common examples of analysis
Here are examples of analysis you may perform:
Market analysis is a comprehensive market evaluation to determine its suitability for a product, service, or business. This assessment involves qualitative and quantitative measurements to outline market factors. Performing market analysis can help you identify the benefits and risks of a new market.
Market analysis typically provides answers on the industry, target market, business goals, and external factors. Information on the industry shows its market share, competitors, life cycle, and updates. Analysis of the target market shows the information on its size, customer, and development. Business goals include anticipated growth, profits, and product extension, while external factors are taxes, interest rates, technology, environment, and regulatory changes.
Job analysis is an evaluation of a position to determine the skills required to complete tasks. This assessment can also help you learn the working condition of a job and how it impacts the business. Job analysis focuses on the position instead of the employee in the position.
Gathering information about a position is typically the first step for performing a job analysis. Next, evaluate the importance of each task and competency and research industry standards. From your analysis, you can revise the job description or use your findings to make workplace changes. You can conduct a job analysis using interviews, observations, surveys, and work logs, or forms.
Environmental analysis, or external analysis, is the process of assessing changes that may affect a business's operations. You may perform an environmental analysis for a company to adapt to changes and remain competitive. Similar to the internal analysis, the environmental analysis focuses on external factors, such as industry trends and government policies.
Environmental analysis encourages business growth into new aspects. It can also help in creating opportunities to gain a competitive advantage. Elements of an external analysis include a business' supply change, industry, economic trends, market demographics, and competitors.
Situation analysis is a method of assessing both internal and external factors of a business. The key elements of a situation analysis are:
Strengths: the important points about a brand, product, or service that makes it unique
Weaknesses: aspects relating to products, brand image, or services you can improve
Opportunities: ways you can increase success for a business or company
Threats: elements that can impact a business and its ability to reach goals
Risk analysis is an assessment of potential challenges that may affect a project, plan, or initiative. It involves critical thinking and problem-solving to determine possible issues that may arise. Risk analysis is useful for predicting business processes and planning for strategic decisions.
Competitor analysis is an assessment of your competitor's strengths and weaknesses. This evaluation helps you determine how your competitors compare to your business. Competitor analysis is useful for identifying strong competitors and their strategies. It can also help you anticipate their actions and reactions to industry changes.
Conducting market research is typically the first step to perform competitor analysis. Then, seek customer feedback on competitor processes, prices, products, or services. You can also use search engines to evaluate your competitor's online processes.
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