The Many Benefits of Business Analysis

Technology advancement in the last three decades has dramatically changed the manner in which business issues, challenges and problems are resolved by IT-based solutions. Previously, organisations were bemused with "IT management" but this emphasis has principally shifted in the direction of value creation through the placement of business solutions, technology being a major contributing factor.

Though the benefits of business analysis may seem obvious, the reality is that most companies do not fully appreciate how their businesses can be helped by analysis and the improvements that can arise as a result.

In the real sense, implementing business analysis is one of the fundamental initiatives that can hold a business together. For the most part, the benefits delivered through business analysis include: 1) Ensuring recommendations presented by technical experts conform with the needs of stakeholders 2) Ensuring that any solutions adopted actually address pertinent business problems by lowering business risks and breeding business value.

By conducting effective business analysis, the business analyst increases the plausible benefits to be had from any recommended solution. 

In summary, business analysis should cover the following areas:

1) Efficient application and implementation of new solutions by the organisation: The Business Analyst provides alignment and clarity throughout a change process especially in terms of defining clear business requirements that fall within the scope of the project.

2) Discovery of organisational requirements: A business analyst can discover new organisational needs through analysis and as a result, can help the business reach a better understanding of the changes that need to be in place for continued success.

3) Prioritisation of business requirements: A business analyst implements requirements prioritisation methods at different phases in the requirements life cycle hence, guaranteeing that shareholder efforts focus on what matters.

Business analysts demonstrate value in business terms 

At a business level, picking a business analysis strategy with high performance metrics normally has countless merits; however, unless this merit is described in business terms, the solution offered might surpass requirements or be ultimately wrong. Experienced business analysts are not solution-oriented but rather are problem-oriented and as a result, they interpret the appeal of a suggested solution with regards to its capabilities to solve business issues or meet business requirements. 

The business case is the main business analysis deliverable that dictates how feasible a recommended solution is; and outlines the organisational benefits of the recommended solution such as reduced inventories, decreased operational costs, lowered risk of doing business, and improved working capabilities, to mention a few. 

Most importantly, business analysts are change agents that act on behalf of the business. Majority of professionals in this discipline agree to the fact that the business analyst's primary responsibility lies in addressing business issues in as much as they act as liaisons between project shareholders. Another major benefit of business analysis amongst a host of others, is lowering the negative effect of unnecessary change. 

Picture Attribution: “Cartoon Businessman Under Stack Of Gold Coin” by iosphere/