Psycho-analysis is a useful tool when it is performed in the correct manner by a trained professional. In addition, the analysis itself is not enough. The patient needs to be given tools and strategies to use to improve his life. The analysis itself is not going to help him make the positive changes that he needs.
When it comes to psycho analysis I think it depends on the person who is participating and conducting it. If the person who is being psycho analyzed is not being serious about it or playing the analyzer then it is a waste of time. Also if the psycho analyzer is not doing it properly then it can be a waste of time too. Like everything else in the world all it takes is doing something right and taking it seriously.
There is some belief that psycho-analysis is effective in helping to find and help with mental issues with certain people. This Sigmund Freud process is well known in the psychology industry but lacks the more recent support and findings of new mental illness techniques. It can be effective if it is used the correct way.
I believe psycho-analysis can be effective in a lot of ways. I believe it can give a lot of insight into why people do the things they do and behave the way they behave. I believe it can help a lot of people get some self awareness over how they are perceived with their actions.