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Home » Business » Business Management » SWOT Analysis » SWOT Analysis of Software

SWOT Analysis of Software

By Stephanie Partridge Maybe, eHow Contributor

(http://i.ehow.com/images/a05/9a/vq/swot-analysis-software-1.1-800X800.jpg)

Executive Summary
An executive summary is not necessary if you are doing an internal SWOT. You include the executive summary if you are going to publish the material, or if you
plan to submit it to upper management, a client, or other parties (http://www.ehow.com/weddings-and-parties/) for review. The executive summary provides a
summary of the findings of the SWOT analysis. It provides a road map of the analysis, and gives a quick and dirty account of the findings.

Strengths
The strengths portion of a SWOT analysis of software address the following questions: What does it bring to the table in terms of functionality, ease of use, and
relevance? Is it user friendly? What is its competitive advantage? What target market will it reach? How innovative is it? Does it offer something new, that has
not been done before? Does it make a task easier to complete? Regarding price, is it a good value for the money? Does the quality of the software justify its
price? Does it provide a function that your clients or others have expressed a desire or need to have? This part of the SWOT should give you a clear picture of
how good, functional, and relevant your software is.

Weaknesses
In product development, weaknesses come with the territory. A good SWOT analysis of software should uncover weaknesses in the product as well as the
strengths. These internal weaknesses of the software may refer to its ease of use, its marketability, and production costs. Does it lack competitive strength? Is
it like other software that is currently on the market, offering little, if any, new functions? Is it expensive to produce or very time consuming to create? Does the
software have many system requirements that could make it cumbersome and impractical for most users? Is it user friendly, at least for the target market? Is it
well received or anticipated by top players in the industry? Does the company developing or marketing the software have a good reputation in the industry?
Take a good, hard look at your product and record any weaknesses that it may have.

Opportunities
When reviewing the opportunities portion of you SWOT analysis, you want to focus on external factors that may affect the product. One area to look at is
technology development and innovation as a whole. What is happening in the industry currently and does that open any doors for your software? Are there any
niche target markets that can be identified for further marketing? What is the buzz in the industry? Have there been any breakthroughs, issues, or events that
would make your software a stand-out product that is timely and relevant? What are your competitors' vulnerabilities? What trends are developing in the
industry or in the lifestyles of the public? How does your software fit in with those trends?

Threats
Any external factors that may impede the progress or marketability of your software should be recorded in this section. These threats can come from political,
legislative, social, or environmental areas. Your SWOT analysis of software should consider IT developments in the industry as a whole as well as in your
target market. Demand is a factor that could threaten the success of your product. Your analysis should include relevant and current data on the demographics
of your target market. A threat of loss of financial backing or key staff could also cripple your project. Review all of the obstacles that your software may face so
that your analysis is complete and accurate.

References
Business Balls: SWOT Analysis

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