Your Business Needs Business Analysis
When a business is stable, stays afloat, and makes a profit, that’s good. However, as soon as it reaches the point of survival and satisfying its basic needs, the problem to maintain its current position and setting strategic goals arises. It is not always an obstacle, but rather an opportunity for future benefits.
Business analysis is precisely the function that serves as a bridge between two states from “something went wrong” through “what if you do A or B”. Most of the methodologies and tools of business analysis came to us from international hi-tech companies. However, the fundamental role of the BA is to maximize the value of the business for stakeholders following their needs. And this is already much more global than the introduction of IT solutions into processes. So why do you need a business analyst?
The role of a business analyst is similar to that of a therapist
The analyst, as a therapist, is engaged in prevention or referral to a strategic specialist to solve a specific problem that he has identified.
There are different sources of complexity in business: at some stage, costs increase, or revenues decrease, risky projects appear, or you have to work with a high degree of uncertainty, dissatisfied customers or reliable partners leave.
It is essential to understand the root cause. Check out the most likely to happen:
- process confusion,
- failures in customer communications,
- poor corporate culture,
- duplication of functions, or human resources spent on tasks that should have been automated long ago.
The levels of implementation of business analysis also vary: from comprehensive transformations of the entire organization to targeted project initiatives.
Analysts carry out the Business Analysis process, but it involves the entire enterprise, strategic or tactical. His role can be spread across different positions and departments, and it’s common for companies to turn to external BA teams. Still, it is better for your company to have internal BA expertise.
Analyzes data
Having received arrays of information, the analyst determines how the existing processes and solutions fit into the overall strategy, cope with the tasks set, and services to meet business needs.
If the solution is of little use to stakeholders and it does not bring value to the business, then the organization itself does not need it either. At this stage, it is crucial to identify what is good and what needs improvement, and where there are areas for growth.
Identifies problems and proposes solutions to overcome difficulties
When the organization’s growth area becomes clear, the analyst offers alternative solutions. This is where IT technologies come into play, software solutions that allow you to optimize and automate processes.
Implementation of solutions
Choosing or developing an IT solution is one thing, but implementing it into an organization’s activities is quite another. It is not at all easy for people to change their daily habits – what can we say about cases when the changes concern entire teams. At this stage, the analyst applies communication skills, persuasion, and Soft Skills and conveys to stakeholders that the changes are playing for the business and bring value to it.
In a word, business analysis is about everything that serves for the benefit of the business. Here is the answer to the question: why do you need a business analyst.
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