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SOAR-ANALYTICS-MODEL

The SOAR Analytics Model is a strategic framework that focuses on an organization's strengths, opportunities, aspirations, and results to promote growth and positive change. It consists of a four-step process: specifying the question, obtaining data, analyzing data, and reporting results, which helps in making informed decisions. While it offers structured analysis and aligns with business objectives, challenges include data quality issues and the time-consuming nature of the process.

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158 views

SOAR-ANALYTICS-MODEL

The SOAR Analytics Model is a strategic framework that focuses on an organization's strengths, opportunities, aspirations, and results to promote growth and positive change. It consists of a four-step process: specifying the question, obtaining data, analyzing data, and reporting results, which helps in making informed decisions. While it offers structured analysis and aligns with business objectives, challenges include data quality issues and the time-consuming nature of the process.

Uploaded by

ian.052204
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Introduction to SOAR ANALYTICS MODEL

Strategic SOAR Analysis


- It is a strategic framework for planning that highlights an
organization’s STRENGTH, OPPORTUNITIES, ASPIRATIONS, and
RESULTS. It encourages the business to focus on growth and positive
change, aligning their actions to their long term visions.
SOAR Analytics Model
- It is an operational framework that enables an organization to identify
key questions, collect relevant data, analyze it, and report actionable
insights.

The four Steps of the SOAR Analytics Model


1. Specify the Question
The process begins by identifying the business problem or opportunity that
needs to be addressed. Asking the right question ensures the analysis is
relevant.
2. Obtain the Data
Data relevant to the question is collected from internal systems (e.g., CRM
databases) or external sources (e.g., market research).
3. Analyze the Data
Analysts explore the data using tools such as Excel, Tableau, or Power BI to
discover patterns, trends, and correlations.
4. Report the Results
The findings are communicated through reports, visual dashboards, or
presentations to enable stakeholders to take informed actions.

Benefits of the SOAR Analytics Model


1. Structured and focused Process
The four-step approach ensures that the analysis remains clear, organized,
and relevant to business needs.
2. Alignment with Business Objectives
Data analysis becomes purposeful, addressing specific business questions
that support organizational goals.
3. Encourages Tool Proficiency
Promotes the use of essential data analysis tools such as Excel, Tableau, and
Power BI.
4. Improves Decision-Making
Enables organizations to make informed, data- backed decisions that
minimize guesswork.
5. Flexible and Scalable
Can be applied to various business functions, including sales forecasting,
customer analysis, and marketing optimization.

Challenges of the SOAR Analytics Model


1. Data Quality Issues
Poor data quality or incomplete datasets can lead to inaccurate insights.
2. Learning Curve for Tools
Proficiency with tools like Power BI or Tableau may take time for new users to
develop.
3. Time-Consuming Process
Collecting, cleaning, and analyzing large datasets can be resource-intensive.
4. Effective Communication Required
Clear reporting of results is essential for stakeholders to understand and act
on the insights.
5. Dependence on Data Availability

Applications of the SOAR Analytics Model


1. Sales forecasting:
Predict future demand based on historical data trends.
2. Customer Retention
Identify key factors that influence customer loyalty and reduce churn.
3. Operational Efficiency
Analyze workflows to improve productivity and reduce bottlenecks.
4. Marketing Optimization
Evaluate campaign performance and adjust strategies for better ROI.

SWOT ANALYSIS STRATEGIC SOAR SOAR ANALYTICS


ANALYSIS MODEL

Focuses on Focuses on Focuses on business


STRENGTHS, STRENGTHS, questions and data
WEAKNESSES, OPPORTUNITIES, analysis
OPPORTUNITIES, and ASPIRATIONS, and
the THREATS RESULTS
Identify internal and Builds a vision for Solves operational
external factors future opportunities problems using data

Used in strategic Used for goal-setting Used in business


planning and growth analytics for decision
making

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