Processing and exploitation is the step in the intelligence cycle that involves converting raw data into a format that can be used for analysis and producing intelligence products that can be disseminated to consumers. The security analyst is performing this step by correlating, ranking, and enriching raw data into a report. Analysis and production, dissemination and evaluation, data collection, and planning and direction are other steps in the intelligence cycle, but they do not match the description of the security analyst's task. Reference: https://www.cia.gov/news-information/featured-story-archive/2010-featured-story-archive/intelligence-cycle.html