Business analysis is just what the name says, a deep analysis on the business to identify problems, search for solutions, implement that solutions and observe the results.
It’s a tool, more than anything. I’m quite sure you’ve heard about it before, but probably no one explained what exactly does a business analyst do, and why this person can be a very important key to help any kind of company to increase their profits, restore or grow.
Following you will find out what a business analysis is, and what a business analyst does.
Well, as I said, business analysis: Analyses customer demands and/or needs, raises requirements, defines scope and evaluates business processes, studies trends, competition and the market searching for the best business opportunities in line with the company’s strategy.
But how can it be done?
Easy, the Business Analyst (BA) is the person responsible for designing and implementing strategies to improve business processes. The BA checks data to evaluate processes, raise requirements, make recommendations and prepare reports for executives. This professional acts as a link between the different stakeholders of a
project, as a kind of internal consultant, who contemplates a lot of visions of the company and its
corporate universe. And a professional BA knows tools and techniques that enable this process in a more effective and efficient way.
The BA usually works with company leaders, as well as customers and users, to increase efficiency and add value to the processes, products and services offered.
S/he needs to think about improvements, but is always aware of what is technologically feasible, what is financially possible and what is functionally reasonable, in other words, S/he needs to use the tools companies have available to achieve the best results possible.
The main activities of a business analyst are:
- Understand each projects requirements, using analytical thinking, multidisciplinary
knowledge and good communication and negotiation skills. A good requirements analysis
will minimize errors, rework and save costs.
- Identify possible process failures, human errors, problems that leaders sometimes even
know that exists;
- Develop solutions to a specific problem;
- Identify needs for changing or improving for the processes;
- Develop specifications for new developments or change existing ones;
- Coordinate functional and structural tests;
- Document every change in projects;
- Monitor the progress of projects and its results;
- Coordinate and participate in internal and external studies, meetings and plans that
assist in improving strategic planning.
The role of the Business Analyst is very important and necessary in organizations for multiple reasons: due to need of applying new methods, to optimize investments, to adapt to the changes caused by digital transformation, among others.
That’s why more and more companies are using the business analysis and BA work to be more
competitive and to achieve better results.
Now that you know what a BA does, how about discussing how can BA benefit your company?