A SWOT analysis is a technique often used by businesses to identify and assess different aspects of their operations.

SWOT stands for Strengths, Weaknesses, Opportunities, Threats, and an honest appraisal of different elements within a business can be useful for helping consolidate the good things and eliminating or improving the bad.

Another thing I find a SWOT analysis can be good for is to generate ideas.

Identifying strengths can help provide thoughts for other activities of a similar nature that may be beneficial.

Weaknesses can help uncover ideas for how to fix them or highlight other areas that might need to be looked at..

Opportunities can encourage you to explore other avenues and alliances.

Threats can provide the basis for reimagining how you go about things that negates any effect they may have.

So, as well as being a useful exercise in general, performing a SWOT analysis can be good for coming up with ideas.