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6 INSIGHT B usiness analysis can be defined as a technique that is used to liaise between various stakeholders in order to understand a business's needs, structure, policies, and operations to find solutions that help the organiza- tion achieve its desired objectives. Business Analysis plays a vital role in every organization. Analyzing busi- ness requirements, creating proper documentation, identifying areas for process improvement and organiza- tional change, strategic planning and developing various policies that drive an organization towards a better fu- ture are observed as the most com- mon solutions. An organisation can leverage busi- ness analysis to achieve its strategic goals by identifying and implement- ing specific changes. The nature of change can be strategic or structural, sometimes involving changing vari- ous policies and processes within an organization to compete better in the market. Organisations can improve their strategic and technical skills by un- derstanding current market scenar- io, with the help of business analysis. This helps them identify where they are placed in the market compared to competitors. There are many facets to business analysis. Some examples include: • Performing feasibility studies • Risk assessment and mitigation plan • Identifying and defining new business opportunities • Writing a detailed business case To understand the importance of business analysis in a better way, here are some of the techniques which an analyst performs in a project: Eliciting Requirements for a Project At the beginning of a project, an analyst starts to work with key stake- holders to understand business re- quirements and clearly articulate the project's vision to achieve the objec- tive. An analyst should understand and take into account the sentiments of all stakeholders so that a unanimous decision can be taken to define the vi- sion for the project. This can be done by doing the fol- lowing: • Personal and group interviews: Conducting one to one or group interviews is a very effective way to identify and judge the con- cerns of different stakeholders by asking a series of questions. • Questionnaires: If there are many stakeholders, circulating a questionnaire is an efficient way to collect inputs and opinions. • Document Analysis: Analyzing existing documents and collect- ing data about current process- es, policies, suggestions and im- provements. • Prototyping: Prototyping is an efficient way to understand the requirements of a system while its getting built since exact re- quirements are unclear during the initial phase. Act as a Communication Bridge Between Different Stakeholders One of the key roles of a business an- alyst is to facilitate communication by acting as a bridge between stakehold- ers and the development team. The business analyst works with project stakeholders to translate busi- ness requirements so they can be un- derstood by developers, while paral- lelly communicating the concerns of the development team to respective stakeholders. This allows the business analyst to bridge the gap between these par- ties so that they fulfill their business needs. A business analyst tries to focus on the vision of the project by under- standing the business needs keeping in mind the concerns of all stakehold- ers. In fact, managing stakeholders effec- tively is crucial to the successful deliv- ery of any project and is considered an art or attribute of strong engagement and communication. Project Implementation and Testing Business analysis plays an important role in project implementation, which involves development and testing. The development phase of the project includes preparing and implementing the software solution needed to cater to business requirements in the form of a working product. With every release cycle, a business analyst works with the testing team to review the software as it is being de- veloped. By doing walkthroughs and other testing activities, a business an- alyst can help ensure that the devel- oped product meets all the specified requirements. Sometimes, a business analyst also helps write user acceptance test cases. Participating in functional testing and UAT helps provide feedback. It also ensures that when the product is developed and delivered, it meets the end user requirements within the stipulated timelines. Strategising Business analysis also involves un- derstanding how various factors such as political, environmental, social and technological can impact the strategy of an organization. A major benefit of this information is the ability to foresee if there is a change in corporate strategy. If true, it will then require a change in a pro- ject's scope. For example, if there is a change in existing technology in the market then the strategy to develop a prod- uct using that technology will also be changed, which will certainly impact the project scope to fulfill that pro- ject's vision. Business analysis involves under- standing and determining how organ- izations work so that their full poten- tial can be realised. It includes the definition of organisa- tional goals and identifying strategies an organization needs to follow so it can achieve these goals and objectives. How important is business analysis? 8.10.2020

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