How Do You Do Competitor Analysis?

How do you do competitor analysis? A listener asks if it has to do with typing in your major keywords from keyword analysis and seeing who ranks well for them, then clicking on their site and literally reading content on the page and checking links to and from the page? David Ogletree from SEOFox.com also chimes in with his perspective.Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy