Identifying business needs and business problems are a part and parcel of business analysis. Business problems are often analyzed and solutions are determined. These solutions can include different components such as software systems development component, strategic planning, policy development, process improvement etc. All these are often carried out by the business analyst, who is a qualified person in handling these aspects of the industry.
Business analysts have an important role to play, involving many fields of business applications, information technology, software systems etc. Taking a holistic viewpoint is essential to give holistic solutions to business problems. Current processes, ITsystems, organization structure, etc. are all to be examined in depth by a business analyst to evaluate in order to bring in improvements to the operating system.
A business analyst also has to use essential business analysis techniques. Some of these techniques are mentioned here:
- Five Whys
- de Bono’s Six Thinking Hats ( Brainstorming)
Business analysis mainly consists of four types. They are:
- Strategic planning
- Business model analysis
- Process design
- System analysis
All these include the following aspects:
- Identification of the business needs of the organization
- Defining the policies and market approach of the organization
- Standardizing the workflow of the organization
- Interpretation of requirements and the business rules for technical IT systems in the organization.
Business analysts have a significant part to play in industries such as telecom industries, cable and wireless industry, utility industry, retail industries, healthcare and pharmaceutical industry as well. Almost every industry has a requirement for a business analyst, who makes it productive for the respective industry by bringing in the required changes, increasing profitability and reducing costs. The field of business intelligence which includes metrics, data analytics, and performance measurement, is also a major area where business analysts have an active role to play.