Most of us have heard of the SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) that is helpful in determining if a business or product will be viable. A PESTLE analysis pretty much does the same thing, however, considers other factors.
The acronym PESTLE represents the following areas: political, economic, sociological, technological, legal, and environmental factors. Some variations of the PESTLE analysis are PEST, (without the legal or environmental factors), and a PESTLIED analysis, where international and demographic factors are considered.
Rapid BI, recommends that each PESTLE analysis can be as “simple or complex" as you want it to be depending upon the project at hand. So, let’s look at a PESTLE analysis example along with a free template to help you start using this project planning and predictor tool.
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