This research requires the involvement of a team of several analysts because it is necessary to collect and process large amounts of data. In general, the algorithm for conducting a PEST analysis includes:
Determining external factors that affect the company's operations and its income. Each enterprise may have its own list of factors related to four main groups.
Collection of data on all factors included in this list. To collect information, you can use open sources, including the media, articles in scientific and analytical publications, order marketing research, etc.
Evaluation of the level of influence of the factor. For this purpose, a scale from 1 to 3 points is introduced, where 1 is an insignificant impact, 2 is an impact with a significant change in the indicators, and 3 - even small changes in the indicators significantly affect the activities of the enterprise.
Determining the probability of changes. At this stage, a scale kazakhstan mobile database from 1 to 5 is used, where 1 means that no changes occur, and 5 means significant changes. At this stage, it is necessary not only to evaluate the effect of the factor at the current moment, but also to forecast the possibility of its change in the coming years. This applies to both positive and negative influence. Based on these calculations, it will be possible to build a development plan for the enterprise.
Evaluation of possible changes. It helps to take into account the significance of the factor. The higher it is, the more attention should be paid to its monitoring.
The sorting stage, where data is collected, plays an important role because there is a risk of overlooking a factor that has a significant positive or negative effect. To do this, you need to study what influences a specific type of business in this region using competitors as an example, compare this with marketing research data, etc.
Each factor must be assessed. It is recommended to involve experts in this, who will assign the appropriate amount of points based on the analysis of statistical data.
To assess possible changes, use the formula:
Factor influence/sum of influences x average expert assessment.
Based on the results of the analysis, the data must be presented in a table format. An example of a calculation for two factors is also provided here.