Business analysis is the practice of researching and developing strategies, plans, solutions, and studies to support the goals and objectives of a business. Business analysts are responsible for gathering information about the needs of the business and using that information to develop recommendations and solutions.
Business analysis involves several key steps, including defining the scope of the project or problem, conducting research to gather information, analyzing the information to identify trends and insights, and developing recommendations and solutions based on the analysis. Business analysts may use a variety of techniques and tools to support their work, such as interviews, surveys, market research, and financial analysis.
One key aspect of business analysis is the ability to identify and prioritize the needs of the business. This involves understanding the business’s goals and objectives, as well as the challenges and opportunities it faces. By identifying the key issues and priorities, business analysts can develop solutions that align with the business’s goals and address its most pressing needs.
Another important aspect of business analysis is the ability to communicate effectively with stakeholders. This involves presenting findings and recommendations in a clear and concise manner, and working with stakeholders to ensure that the solutions developed align with the business’s goals and objectives. By effectively communicating with stakeholders, business analysts can help ensure that their work is understood and implemented effectively.
Overall, business analysis is a crucial practice for supporting the decision-making process and driving business success. By conducting research and analysis, business analysts can provide valuable insights and recommendations that can help businesses to achieve their goals and stay ahead of the competition.
Strategic Planning
Developing strategies to achieve goals in the context of constraints and competition.
- Budget Planning
- Business Models
- Competitive Intelligence
- Critical Success Factors
- Estimates
- Market Research
- Reference Class Forecasting
- Scenario Planning
- Strategic Drivers
Techniques
Core business analysis methods and approaches.
- Black Box
- Business Needs Analysis
- Business Process Analysis
- Business Rules
- Capabilities
- Capacity Planning
- Data Analysis
- Data Dredging
- Data Mining
- Decision Analysis
- Fishbone Diagram
- Ishikawa Diagrams
- Key Performance Indicator
- Mece
- Metrics And Measures
- Operations Analysis
- Pain Points
- Premortem
- Problem Analysis
- SWOT Analysis
- Technology Analysis
- Voice Of The Customer
- Workflow Analysis
Requirements
Capturing requirements for programs, projects and initiatives.
- Behavioral Requirements
- Business Needs
- Business Requirements
- Business Requirements Document
- Context Of Use
- Customer Interviews
- Functional Requirements
- Needs Analysis
- Non-Functional Requirements
- Productive Assumptions
- Requirements Elicitation
- Requirements Gathering
- Specifications
- Story Points
- Use Case
- User Stories
Other Deliverables
Other common work products delivered by business analysts.
- Audience Analysis
- Brand Analysis
- Business Architecture
- Business Case
- Business Plan
- Business Process Mapping
- Customer Journey Map
- Feasibility Analysis
- Gap Analysis
- Project Charter
- Proof Of Concept
- Statement Of Work
- Terms Of Reference
Management Accounting
Numerical methods for business analysis and management.
- Baseline
- Benchmarks
- Best In Class
- Bottleneck
- Cost Benefit Analysis
- Forecasting
- Net Present Value
- Quantification
- Rate Of Return
- Statistical Analysis
- Time Value Of Money
- Total Cost Of Ownership
Business Theory
A few key business concepts that are often relevant to business analysis.
- Choice Architecture
- Line Of Business
- Organizing Principle
- Strategic Dominance
- Structure Follows Strategy
