Examining External Factors Influencing the Sustainability of New Textile and Fashion Products Using PESTEL Analysis Dashboard

PESTEL is a vital strategic tool that examines Political, Economic, Social, Technological, Environmental, and Legal factors impacting a business. Traditional PESTEL analysis often relies on static reports and manual data compilation, leading to delays and limited insights. Businesses need a dynamic, real-time approach to promptly respond to external changes affecting product success. This approach aims to leverage Power B.I.’s data visualization capabilities to perform comprehensive, real-time PESTEL analysis, enabling more informed and agile decision-making during new product development. Students can incorporate their new products’ ideas with current scenario, including PESTEL analysis to have more dynamic forecasts on product sustainability in the market. Effective analysis guides students in navigating external influences during new product development. Integrating Power B.I. with PESTEL analysis introduces an interactive, automated framework that consolidates diverse data sources into visual dashboards. This enhances the accuracy, speed, and depth of external factor assessments, setting it apart from conventional methods. By providing timely insights, this method helps students develop products better aligned with societal needs and environmental considerations, promoting sustainable innovation. Commercially, it accelerates product launch timelines, reduces risks, and increases market adaptability, ultimately benefiting consumers and stakeholders alike. Utilizing Power B.I. for PESTEL analysis offers students a more innovative, efficient way to support new product development, fostering sustainable growth and societal well-being through data-driven strategies.