Why Business Analysis

Business analysis is important for the company to gain financial strength in the market. By analyzing business the organization enhance their tactical and technical skills because they become aware of the market scenario and their position in the market.
How does one analyze the business and its needs – let’s answer this question here:
    1. Analyze the requirements and area of the work.

    2. Work with the project managers and business sponsors to find out what are the level of the work that they are expecting to get and manage.

    3. Find out the complexity of the work and the efforts that will be needed to complete the taken project

    4. Define in a proper manner the project elicitation. Prepare a document containing all the important aspects of the project. Use elicitation document to identify critical requirements of the project.

    5. Analyze and define the functional requirement of the project and document them.

    6. Documentation can be done in many forms, like preparing diagrams – (High level / low level); writing elicitation explaining every minute details of the project (Requirement Understanding Documents / SRS); making prototypes and DFD’s etc

    7. Asking right questions to the customer or the stake holder. The templates should be pre-pared for this.

    8. Identify the core components of the business and its market value and competitors. This will help in giving better solution so that the business is able to make it stand in the market
Why Business Analysis
    9. Always plan, categorize and manage the requirements. Define risks, priorities and important functionalities in the elicitation document

    10. Always identify and define multiple approaches to create a project (generally in case of software / website). These approaches should clearly indicate Maintenance terms, Improvement processes, New development etc.

    11. Define test cases wherever possible, especially for the complex functionalities.

    12. When the project is in the development or processing state, always conduct reviews. These reviews need to be multiple, such that the quality of the product improves and each and every member of the team knows that the process followed is in sync with the requirements of the client.

    13. Building a strong relationship with the stake holders. Taking frequent calls and giving frequent demos of the project that is being built is also necessarily important. Always try and apply new strategies while communicating with the stake holders as well as with the internal team.

    14. Always anticipate issues and think proactively on the same. Critical thinking and analysis is very important

    15. Use critical thinking skills to plan the stakeholder elicitation sessions – always be ready with the answer. Think like the stake holder and have an idea of what can be asked.

    16. Rework has become a headache for most of the industries. To reduce the same the product requirements need to be documented always. Incomplete or missing requirement can impact the entire software process and thus re-work will be carried in testing or implementation phases.

Thus Business Analysis plays a vital role within the organization, which helps to identify business and its needs. It also determines the solutions to the business problems. Business Analysis helps improving the effectiveness of IT through better alignment with the business to increase profitability.