Business Analysis is the discipline of recognising business needs and finding solutions to various Problems of business. In short, it is a set of tasks and techniques which work as a connection between stake holders. These help them understand organisation’s structure policies and operations. They can also recommend solutions to help the business reach its goals.
Business Analysis is about understanding how your organisation functions to fulfil its purposes. It entails defining the abilities the firm needs to provide products to the external stakeholders. The entrepreneur will have to understand how the organisational goals connect to specific objectives. It is very necessary to make a detailed plan to help achieve the goals and objectives. In a business analysis, it will be defined how the stakeholders and different organisational units interact. Business Analysis has many important advantages. In order to get an overview of the current state of a company, business analysis is to be conducted. It might be used to identify the business needs. Mostly, the analysis is performed to state and confirm solutions which meet business needs or goals.
The BA’S analyse and synthesise information provided by the immense group of people who interact with the firm. The information is generally received from customers executives, staff and IT professionals. The analysis do not only focus on the expressed desire but elicit the actual needs of stakeholders. Sometimes the analyst facilitates communication between organisational units.
Business Analysts generally follow below mentioned 8 steps :-
(1) Get oriented
(2) Identify the primary objectives of the business
(3) Define the scope
(4) Create the business Analysis plan.
(5) Define the requirement in details
(6) Supporting the technical implementation.
(7) Help the firm apply the solution.
(8) Study the value created by solution.