A good analysis is the starting point for your cover letter
The keywords you pull out of a posting are exactly what should show up in your resume and cover letter. Working the language of the posting back into your application, honestly and specifically, is one of the simplest ways to improve how well your application matches what the recruiter is screening for.
The matched experience carries into your interview answers too
The examples you line up against each requirement do not go to waste after the application is submitted -- they become the raw material for your interview answers. Having them organized ahead of time means less scrambling to think of a good story on the spot.
Frequently Asked Questions
Should I apply if I do not meet a single preferred qualification?
If you meet the required qualifications, it is usually still worth applying even without any of the preferred ones. Many hiring managers treat the preferred list as a nice-to-have reference rather than a hard filter.
Can I judge company culture just from the wording of a posting?
Treat the posting as one data point, not the full picture. Employee reviews and conversations during the interview process usually give a much more accurate read on what the culture is actually like.