Techniques in Business Analysis

Every business will need to determine solutions to business problems even before they can happen. In every business, there is always business analysis that happens. A business analysis is a method of research that identifies the business needs and finding solutions to business problems. Businesses and entrepreneurs often hire a business analyst to do the job for them. They also have their employees or the owner himself attend a business analysis training to conduct the business analysis without outsourcing.

Some of the solutions that business analysts give are solutions to software system development component, the process improvement, strategic planning, and policy development. The problems sometimes occur, but most of the time the problems are just foreseen but has not yet happened. Entrepreneurs handle their businesses delicately and doing all their best to keep the business intact despite the struggles it will have to face.
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The entrepreneurs’ mindset is always in advance. Foreseeing a forthcoming problem will need an immediate solution to avoid any discrepancy in the future. Being able to find a solution to a problem before it happens is how entrepreneurs deal with them with the help of business analysts.

Business analysts use different types of analysis technique, to find solutions to problems. These techniques help companies to grow and thrive despite the problems and struggles they need to face.

1.         SWOT Analysis

SWOT stands for Strengths, Weaknesses, Threats and Opportunities Analysis. This is the most common analysis that every business analyst use. This is the level of analysis that assesses the four dimensions of a company. The result of the analysis will drive the company to decide on what to change and improve to continue to thrive in the market. This analysis is fairly straight forward but each dimension will need a different technique to determine the outcome of the specified dimension.

2.         Requirements Interviews

This technique is very familiar to businesses. The business analyst performs a structured interview to question, capture, interpret and understand the requirements requested by the interviewee for a particular solution. This technique is used at the early stage of the project where the requirements are being gathered, analyzed and validated.

3.         MOST Analysis

Like SWOT, MOST analysis is made up of four dimensions – Mission, Objective, Strategy, and Tactics. The MOST analysis is a powerful framework tool used to analyze and plan the details that will help a business to maintain strategic planning. This is often used by business analysts to meet the objective and mission for the recommended solution.

4.         PESTLE Analysis

The PESTLE analysis stands for Political, economic, social (or socio-cultural), technological, legal environmental. This technique is used by business analysts to analyze the key drivers of change in the strategic or business environment. It helps the organization to understand how these key drivers influence the narratives of the company.

5.         Five Whys

This technique may only ask one question – WHY. But in every explanation, a ‘why’ is being asked. This technique is used to get to the root of what is really happening in an organization in a single instance.

6.         Brainstorming

It is no question of why an organization needs brainstorming. This technique is often used by business analysts to generate different ideas, identify the root of the problem from a different perspective and solve a complex business problem that cannot be solved by one person only.

Having a business analyst in an organization is essential. The business analyst can help a company to grow and find a solution to problems even before they happen.

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