What is Business Analysis?
Published: 2021-06-09 05:42:09

Analysis plays a major role for successful running of the business. The result of the analysis lets you know the further steps to be taken for the smooth running of the firm. This analysis is essential for both small as well as large scale firms. Moreover, the steps after the analysis are the deciding factor for the rise (or) fall of the business. So the analysis should be done with at most care for the exponential growth of the business. Moreover, Do you know “what things were necessary during business analysis”? Read the complete article to get the answer

Business analysis is defined as a practice that is responsible for enabling change in an organization. It does so by defining the firm needs and recommending solutions that deliver value to the stakeholders.

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Even though the definition is static, the set of techniques and practices may vary from firm to firm. Moreover, in some cases, they may vary from one project to the other with in the organization. In the IT industry, the solutions may include a system development component, which may consist of process improvement (or) the organizational change. It was performed to understand the current state of the organization (or) to serve as a basis for the identification of the business needs. In the majority of the cases, it was done to define and validate the solutions that meet the business needs, goals (or) objectives.

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Why does the organization require business analysis?
Organization requires business analysis for the following reasons:

To understand the organizational structure and dynamics in which a system needs to be deployed.
To understand the issue in the organizations and to identify the improvement potentials
In ensuring that the customer, end-user, as well as the developer, do share the common problem
Business analysis usually involves various phases as below:

In the initial stage of the project, when the requirements were interpreted by the solutions as well as the design teams, the business analyst is responsible to review the solutions documents. Business Analyst work closely with the solution designers as well as the Project Managers to ensure that the requirements are clear. In a large firm, you can find the business analyst as the key person who has a link to both the teams. Besides, he would interact with business users ( technical as well as non-technical) and the stakeholders with the projects to get approval and finally node before proceeding with the project.

Steps in Business Analysis Process:
Business Analysis involves multiple steps. They were as follows:

a)Enterprise Analysis:
This phase area covers the collection of pre-project activities that leads up to the project section guided by the business analyst. These activities have the following advantages. They are:

Helps to maintain the business architecture.
Allows you to prepare the business use case
Preparing for the decision package
b)Requirement planning and management:
In this phase, you are responsible to define the task and resources, that are associates with the planning and management of requirements. This helps you to ensure that set of activities that are undertaken is appropriate according to the specific project. Moreover, this phase is important to capture the changes correctly as well as consistently.

c)Requirement Elicitation:
This phase consists of researching and discovering the system requirements from users, customers, and other stakeholders.

d)Requirements analysis and documentation: