What does it mean to analyze a story like beowulf?

Analyzing stories such as the epic of Beowulf can sound like a lot of work. But if you set yourself a standard procedure for analyzing stories, it becomes a piece of cake over time. One of the first things you want to do first is to make sure you understand the storyline as it is. Familiarize yourself with the characters, their qualities, goals, strengths, weaknesses, and etc. Characters in epics are usually symbols of certain concepts such as valor and pride. Next, you want to figure out if you can find the major themes in the story. Does the main character experience several high points in the plot and then a downfall? Why? Was it because of the antagonist(s) or did the protagonist bring the outcome on himself/herself? Many literary works play around with the theme of man’s hubris. Others present other themes that lie beneath the main storyline. If you can familiarize yourself with major themes, you are more than halfway to analyzing a story. Consider the themes, characters, and how the story ends; what lessons can you bring out of all that? What moral imperative or lessons does the author/protagonist teach the reader, if any?
Hope this helped and good luck.