How to Do Competitive Analysis in Excel (Step-by-Step)

The strategy sync is tomorrow. Someone asked for a side-by-side read on how you compare against two named rivals — and they want it in Excel, not another slide deck. You know the companies. You are less sure about the order to fill rows, where to pull pricing without guessing, and how to keep SWOT lines aligned so the gaps actually show.

This guide walks through how to do competitive analysis in excel as a repeatable worksheet workflow: scope rivals, set up columns, fill row by row, capture decisions, and save a dated file. If you still need to pick a layout or compare free downloads against structured workbooks, start with our pillar guide on how to choose a basic competitive analysis template for Excel. More spreadsheet walkthroughs live in our template guides and tips.

Key takeaway: A solid Excel competitive analysis compares your business against two direct rivals in fixed columns, fills company → market → product → SWOT in parallel phrasing, ends with Key Takeaways, and saves a dated copy before the meeting — not a one-off grid you overwrite at midnight.

Before You Open Excel: Scope Two Real Rivals

Competitive analysis in a spreadsheet fails early when the competitor list is vague. "Big incumbents" and "startups" are categories, not columns.

Pick two direct rivals — same buyer, same job-to-be-done, overlapping price band. If you sell project management to agencies, compare other agency-focused PM tools, not a consumer to-do app. Write their legal or brand names now; you will replace placeholder headers later.

Open a scratch doc or browser folder with source links before touching cells:

Public pricing and packaging pages
Feature or product tour pages
About / investors / press pages for company highlights
Review aggregators (G2, Capterra, Trustpilot) if you sell B2B software or services
Your own win/loss notes from sales — labeled internal, not pasted from confidential CRM exports

Two columns stay readable on a laptop at 100% zoom. A third rival belongs on a duplicate sheet or a second file, not squeezed into shrinking fonts. Need a workbook layout first? The pillar article above covers free, DIY, and instant-download paths — this post assumes you are ready to execute inside the sheet.

Set Up Your Excel Workbook

You can build the grid yourself or open a pre-labeled template. Both paths end at the same comparison shape: row labels on the left, Your Business plus two competitor columns on the right.

DIY four-column grid

In a blank workbook:

Column A — row labels grouped by section: Company Highlights, Market Information, Product Information, SWOT (Strengths, Weaknesses, Threats, Opportunities), Key Takeaways.
Columns B–D — Your Business, Competitor A, Competitor B (use real names before you share the file).
Format for reading — freeze the header row, turn on Wrap Text for data cells, keep label cells locked or shaded so nobody types over "Pricing."
Skip merged cells in the data area — they break sorting, copy-paste, and Google Sheets uploads.

A competitive matrix scores checkmarks across features; a basic analysis sheet uses short narrative cells per factor — better for leadership workshops. Many teams use both artifacts; this walkthrough focuses on the narrative grid. Field-level checklist for templates lives in the pillar guide.

Start from a structured template

If formatting ate your last afternoon, a structured .xlsx skips the architecture debate. The Basic Competitive Analysis Template Excel (PlanoNest — disclosure: we sell it) ships Start Here instructions, a three-column grid, and a Key Takeaways column. Upload the same file to Google Sheets if reviewers prefer comments over email attachments.

Related planning tools: KPI dashboard templates.

Fill the Grid Row by Row

This is the core of how to do competitive analysis in excel — same row order every time so you do not skip market context and jump straight to feature bullets.

Run competitive analysis in Excel

Open your map — read Start Here or the label column so you know which cells are inputs.
Rename competitor headers — replace placeholders with real company names before filling data.
Company highlights first — tagline, funding stage, notable investors, headcount band if public; keep phrasing parallel ("Series B, ~120 employees" not a paragraph in one column and three words in another).
Market rows next — target segment, estimated share if you have a source, primary channels, headline marketing motion; mark estimates as estimates.
Product rows — pricing model, flagship features, review themes, quality signals buyers mention on calls; link sources in the cell comment or a Notes column.
SWOT rows — one factor per row, same order in every column (see next section).
Key Takeaways last — three to five action bullets tied to what the grid revealed, not generic strategy slogans.

Work across columns on one row before moving down. It keeps tone consistent and surfaces gaps faster than finishing your entire column while competitors stay blank.

Use the same sentence skeleton in each cell: "Pricing: freemium + $19/user/mo Pro tier (public pricing page, checked July 2026)." That reads faster in a meeting than mixed fragments.

Warning: Do not overwrite label rows or merged section headers — duplicate the analysis sheet if you need a second scenario (enterprise vs SMB competitors).

If broken headers already burned you once, a pre-built template removes that failure mode — same product link as above.

Run SWOT Across Columns Without Losing Alignment

SWOT in Excel goes wrong when strengths in column B are paragraphs and weaknesses in column C are blank — leadership cannot scan the contrast.

Assign one SWOT factor per row and fill all three business columns before the next factor:

Strengths — durable advantages you can verify (distribution, patent, NPS, cost structure), not "great culture."
Weaknesses — honest gaps you also see in reviews or loss notes.
Threats — external moves (new entrant pricing, platform risk) with a date or source when possible.
Opportunities — openings you might exploit (underserved segment, integration gap).

Keep adjectives suspicious. "Innovative" is not a strength; "ships native Salesforce integration" is. If a cell is opinion, tag it (hypothesis) until validated.

Turn the Grid Into Decisions

A filled grid without decisions wastes the meeting that follows.

Use the Key Takeaways column (or a summary block below the grid) for actions:

Messaging — what to say differently on the homepage or in sales decks
Product — one gap worth roadmap discussion
Pricing/packaging — a watch item with refresh date
Risk — a threat that needs a owner, even if the answer is "monitor Q4"

Then Save As with a date: competitive-analysis-2026-Q3-RivalA-RivalB.xlsx. Version history in cloud tools helps, but a named file still saves you when someone downloads an old attachment from email.

Duplicate the sheet if leadership wants the same framework against a different pair — faster than rebuilding rows.

Optional: Charts When Leadership Wants a Visual

Excel charts are optional for a basic analysis. Add them only when someone asks for a picture.

Clustered bar chart — compare numeric tiers (price, seat minimums, storage caps) across three columns.
Radar chart — at most five factors; more spokes look pretty and mean little.

Build charts from a summary tab that references your grid — do not chart directly off a wall of paragraphs. If the room only has ten minutes, the labeled grid often beats animation anyway.

Common Excel Mistakes That Waste the Meeting

Too many competitors on one sheet — readability collapses; split tabs instead.
Facts mixed with adjectives — "market leader" without share data is positioning, not analysis.
Stale pricing — last year's tier chart is worse than an empty row; date your sources in Takeaways.
Skipping Key Takeaways — you brought a research dump, not a decision memo.
Overwriting the only copy — Save As before major edits; email threads do not respect Undo.

Frequently Asked Questions

What are the 5 steps of a competitive analysis in Excel?

Scope two rivals, set up three comparison columns, fill company and market rows, complete product and SWOT rows in parallel, then write Key Takeaways and save a dated workbook. That sequence matches the fill order in the steps above.

How do you do a SWOT analysis in Excel?

Put each SWOT factor on its own row and write all three business columns before moving to the next factor. Use short, parallel phrasing and flag estimates so SWOT stays scannable in a side-by-side view.

What should a competitor comparison spreadsheet include?

At minimum: company highlights, market context, product/pricing comparison, SWOT factors, and a takeaways section — with your business and two named competitors in columns.

How many competitors fit on one Excel sheet?

Two direct rivals plus your column is the readability sweet spot on a standard laptop screen. Add a third only if fonts stay legible at 100% zoom; otherwise use another sheet.

Can I do this in Google Sheets?

Yes. Upload the .xlsx via File → Open → Upload. Layout and labels survive as long as nobody hides label rows before sharing.