ECONOMICS

Detailed explanation-1: -Comparative data can come from internal or external sources and allows the user to evaluate their outcomes or measures against another data set.

Detailed explanation-2: -Comparative analysis refers to the comparison of two or more processes, documents, data sets or other objects. Pattern analysis, filtering and decision-tree analytics are forms of comparative analysis.

Detailed explanation-3: -When a business wants to analyze an idea, problem, theory or question, conducting a comparative analysis allows it to better understand the issue and form strategies in response. A business might conduct this type of analysis to analyze things with obvious differences or items with both differences and commonalities.

Detailed explanation-4: -One of the most effective ways to compare two businesses is to perform a ratio analysis on each company’s financial statements. A ratio analysis looks at various numbers in the financial statements such as net profit or total expenses to arrive at a relationship between each number.