Business analysis is among the fastest developing careers today. In today’s rapidly evolving world, the use of technology has increased in business due to dynamic customer expectations and social trends. With many companies recognizing the importance of responding quickly to meeting customer demands, businesses that do not embrace change may end up losing their market share.
Business analysts should continue learning and studying market transformations in order to remain significant, efficient, and succeed in the industry. By adopting the following trends, businesses will be guaranteed substantial business growth in the technology-driven world we live in.
Are you looking for a change in career? Exploring the trends below will also help you understand which business analysis specializations are in demand.
1. Technology Application
Businesses are rapidly adopting modern technologies such as cloud computing, DevOps (development operations), machine learning, and application portfolio optimization. This means that business analysts will have to familiarize themselves and be proficient in these technologies. This will enable them recommend the best solutions for their organizations.
Internet of Things is another theme that is popular in the business world. In the coming years, the number of interlinked gadgets complete with their affiliated sensors is set to rise exponentially. Basically, IoT will result in generation of colossal amounts of data in the near future.
In order to benefit from this data, organizations will have to adopt data analysis practices and tools. Currently, many organizations are seeking business analysts who understand big data theory and methods of mining data for business development.
2. Demand for Agile Practices
The business world is experiencing untold pressure for agile-like practices in order to offer customers what they demand as quickly as possible. Business analysts who have not embraced these practices will find it difficult to stay afloat and offer effective delivery.
Presently, business analysts are required to take charge and oversee projects in order to evaluate and generate extra value from business projects by wearing different hats such as scrum master or product owner. Also, business analysts in various organizations, are actively engaging in agile projects and working closely with product owners in areas of application testing, change management, user experience design, etc.
Business analysts may tend to deviate from being a link between stakeholders and focus on becoming agents of collaboration, change, and communication. Many big organizations have already embraced agile practices and business analysts can influence their projects positively, think innovatively, and find solutions to any potential conflicts.
While many organizations appreciate the results achieved by agile projects, they often experience challenges with enterprise-wide adoption, intricate projects, and implementation. Some of the considerations are:
· Large and intricate projects
Business analysts are yet to agree on the best agile foundation. However, they agree that there should be communication, integration, and coordination between agile teams working towards a solution.
· Enterprise-wide agile
Various organizations have embraced agile in different areas and are executing agile practices according to their preferences. Embracing agile practices across board requires people with exclusive expertise on same, knowledge of the current state of agile, and ability to collaborate with players in the organization to agree on how agile will be implemented enterprise-wide.
3. Digital Transformation
Business analysts should take advantage of mobile applications and cloud computing, two trends that are fast developing across the digital world. These technological innovations are expected to influence business analysis in relation to both non-functional and functional requirements including accessibility, usability, recoverability, user experience and security.
· Mobile applications
Business analysts who recognize the benefits of mobile applications will be capable of defining the importance of utilizing these benefits, outlining the probable challenges, achieving the objectives of their organizations, and re-designing business procedures.
· Cloud Computing
Currently, organizations are seeking out ways to reduce costs and handle the rising demand for information and fast delivery. Cloud, is one of the most effective solutions when it comes to enhancing efficiency, agility, promoting productivity, and reducing legal risks to guarantee compliance within an organization. Business analysts act as the stimulants for change in today’s fast changing business world. The adoption of cloud computing has numerous effects on organizations.
Therefore, analysts need to help the business embrace change. Business analysts can handle various tasks affiliated with cloud computing. Some of them include redefining business procedures to comply with cloud solutions and proposing technical requirements.
4. Data and Analytics
Business analysis is associated with data presentation, and this calls for analysts to utilize advanced tools and applications to report on business data.
5. User Experience/User Interface Design
Creating more engaging user interfaces and furnishing them with powerful capabilities to improve user experience requires specific methods, techniques, and procedures to improve user fulfillment while working with technology. User experience design is important, seeing how technological advancements are transforming how computers and humans interact.
Additionally, augmented and virtual reality is expected to introduce new methods of executing commands and communicating with computers. User experience is an important aspect of establishing business requirements. It has many similarities to business analysis which means that analysts can easily achieve user experience skills. Various business analysis activities such as system design, usability testing, and requirements definition, typically integrate with user experience design.
These trends are particularly important in ensuring that businesses receive optimal value from their business projects. Businesses will benefit from exploring them further to see what’s applicable in their unique environments.