Market analysis is a critical step in business. It helps to understand the market and its trends. It also helps to understand the opportunities and threats that are present in the market. Market analysis is an important part of business strategy that needs to be undertaken before any other steps are taken. Market analysis helps to identify opportunities, threats, and strengths and weaknesses of a company before making any moves into a new market or expanding their current one. The importance of market analysis cannot be overstated as it helps companies identify the right time for expansion, new products, services, or even mergers and acquisitions.