Business analysis can be understood as a research discipline that assists you in discovering business needs and identifying solutions to various business problems.
The business analysis offers solutions that can include policy development, software or system development, process improvement, organizational change, strategic planning, and so on. It enables you to identify solutions to meet your business enhancement needs.
Typical business analysis results include business analysis plans, business requirements specifications, business cases, and functional and non-functional specifications.
A business analyst, or BA, is an individual who does this job. The analysis process provides the concepts and insights to create the basic framework for any project.
Business Analysis Glimpse
Business analysis is the process of identifying and addressing business needs by analyzing data, proposing changes, and creating solutions that provide value to stakeholders.
This process can include a variety of tasks such as advising on organizational changes, improving processes, developing new policies, and participating in strategic planning.
The field of business analysis often involves the use of software and digital data-based solutions, but it can also include more traditional methods.
Business analysts play an important role in organizations by assessing and analyzing needs and vulnerabilities, then creating and implementing effective solutions. The data that is used to make these decisions often falls under the category of “big data.”
Business Analysis Techniques
Quoting from Indeed, this is because these techniques help you develop solutions to produce the outcome the company wants. This technique itself is used during the course of a business project to anticipate every problem and opportunity that arises.
In addition, the many types of analysis techniques make some techniques more suitable for use in certain purposes and projects.
1. CATWOE
CATWOE stands for client, actors, transformation, world view, owner, and environmental constraints.
This business analysis technique is used to identify problems and determine solutions that may affect the company and other related parties.
Thus, you will get a thorough understanding of how each proposed action can affect various parties.
Here are some aspects to consider when using this technique.
- customer: your typical business client profile
- actor: everyone involved in a company or project
- transformation: every process that occurs in the company
- world view: how the company can fit in with the world and what are the impacts and opportunities that the company has
- owner: what are the characteristics of company ownership
- environmental constraints: what are the environmental constraints that may affect your solution
2. SWOT Analysis
The SWOT business analysis technique is arguably one of the most popular techniques. SWOT is an acronym for strengths, weaknesses, opportunities, and threats.
Through this technique, you comprehensively analyze all internal (strengths and weaknesses) and external (opportunities and threats) factors.
This technique can also be used at every stage and level in a project.
When using a SWOT analysis, you will collect and categorize data in four significant quadrants:
- Strengths: write down every strength possessed along with unique and cost-efficient resources
- weaknesses: describes the various factors that led to lost sales, areas that could be improved, limitations, and business deficiencies
- opportunities: every opportunity owned by the business, including opportunities to improve company performance
- threats: list of competitors, obstacles, and external risks of the company
3. MOST Analysis
MOST is an acronym for mission, objectives, strategy, and tactics.
Launching Business Analyst Mentor, this technique analyzes what the company wants to achieve (mission and objectives) and how to achieve it (strategy and tactics).
So in this technique, you will focus on the following:
- mission: company goals and plans for the future
- objective: goals contained in the company’s mission statement
- strategy: the actions or steps needed to achieve objectives and complete the company’s mission
- tactics: the methods to be used to execute the strategy
4. PESTLE
PESTLE is a business analysis technique that considers environmental factors that impact a company’s strategic planning and performance.
Launching Analytic Steps, this technique allows companies to identify opportunities and minimize potential threats that can be faced.
PESTLE has an acronym with various focuses, as follows.
- politics: government initiatives, financial support, and policies in force
- economy: prices of raw materials and labor as well as inflation and interest rates
- social: media, education, culture, lifestyle, and population
- technology: new technology, communications, and information systems
- legal: applicable laws, regulations, and standards
- environment: recycling, waste, pollution, and weather patterns
5. Business PRocessing Modelling (BPM)
Business process modeling techniques are commonly used in the IT industry during the project analysis phase to evaluate and understand the differences between current and future business processes.
BPM itself displays the results of the analysis in the form of a diagram illustrating the stages of a workflow.
In addition, BPM is also usually used to do the following things.
- strategic planning
- business model analysis
- describe and design processes
- evaluate technical aspects in complex business solutions
6. Non-Functional Requirement Analysis
This business analysis technique is performed for any project where a technology solution has been modified, replaced, or created from scratch.
Thus, this technique is commonly used in the project analysis phase and then implemented in the design stage.
- Typically, this technique is used to test the following.
- reliability or reliability
- logging
- security or safety
- performance
7. Brainstorming
Brainstorming is a business analysis technique that is carried out in groups, in which each participant thinks creatively to come up with ideas and solutions to a problem.
Usually, this technique is often done in other methods such as PESTLE and SWOT.
8. Six Thinking Hats
This business analysis technique guides a group’s train of thought by encouraging them to consider new perspectives and ideas.
Usually, this technique is used in conjunction with brainstorming techniques to direct a team’s mental process to see multiple points of view.
The components of the six thinking hats are represented in color, where each color represents the following perspective.
- white: focus on data and logic
- red: uses intuition, emotion, and instinct
- black: considering potential adverse outcomes and what could cause problems
- yellow: focus on the positive and maintain an optimistic outlook
- green: use creativity
- blue: see the whole process and the big picture
9. Requirement Analysis
This business analysis technique is part of a project cycle.
So, usually this technique is carried out after providing suggestions or solutions to understand the objectives to be achieved in a project.
You can doVisit Site this by conducting interviews and workshops, where every stakeholder is directly involved in it.
10. Use Case Modelling
This business analysis technique is usually used during the designing phase of a development project or software development project.Use case modeling will show the functional scope of a proposed system.
Launching Whizlabs, this technique illustrates how every business function in a proposed system must work through user interaction. Following are some of the core components of use case modeling.
- system: represented as an outline or boundary diagram
- use case: represented as an oval that is executed as part of the overall process
- actors: users associated with functionality, usually depicted outside the system diagram
- association: interaction between actors and system through use cases
- stereotypes: the relationship between all use cases