fbpx
Sep 18

Importance of The Business Analysis

Importance of Business Analysis

Business analysis is identifying business needs and determining solutions, then enabling a change within the business in a way that generates value for stakeholders. The value of business analysis is in the realization of benefits, the avoidance of costs and the identification of new opportunities. When an agent of the business identifies and articulates this for the business and helps the business understand it, a change may be facilitated that improves the way it conducts itself and generates a positive outcome.

Business analysis is about creating value. Value can be created by reducing projects costs or by increasing efficiency. Time is a valuable resource when trying to create value, businesses take time to understand the requirements of the customer and in that time, spend resources building and developing something that may not be what the customer is looking for, also called requirements churn. Business analysis helps in reducing requirements churn so that the business can figure out what is needed upfront, and the rest of the time can be spent reworking or building the final product.

Another way business analysis can create value for a business is by using prioritization to help the business realize what the more important things are. Prioritization helps to ensure that the more important requirements that add the most value are completed before the team moves on to the secondary, less valuable requirements.

Business analysis also adds value by providing a framework in which the business can scale and expand. When a work system has been adopted and the organisation or team has to be expanded, business analysis serves as a way to initiate, educate and engage new and existing stakeholders about the what is going on. Making sure a business can scale helps ensure that its efficiency stays the same so that it can keep a consistent return on investment value.

Business analysis also helps bridge the gap between stakeholders and the project team, helping the stakeholders describe what the are looking for in the end product and helping the project team understand the requirements and the resources needed to create what the stakeholder needs. This reduces stress on the project team as they don’t have to ‘translate’ what the stakeholder is saying into actionable work and also reduces frustration for the stakeholder as they are able to describe what they need to an objective third-party who is knowledgeable in both the technical and the marketing side of the project who can translate requirement into specification.

In conclusion, business analysis is the interface between a project team and the stakeholder that translates for both parties and also identifies new methods for the project team to work more efficiently while cutting costs so that the project is done in a timely manner, meets objectives and is within the budget.

Looking for an IT Job?

Please call us on 1800 159 151, or complete the form below.

  • This field is for validation purposes and should be left unchanged.

Recent Posts

Demand for Cybersecurity in Australia – How to learn cybersecurity?

Demand for Cybersecurity in Australia – How to learn cybersecurity?

Are you thinking of a career in cybersecurity? Do you wish to change your career to cybersecurity? Are you interested to learn cybersecurity? Are you.. Read More →
Can you get a job with just a CCNA certificate?

Can you get a job with just a CCNA certificate?

People often worry about getting jobs after acquiring a few years of education or a specific certificate. This is the exact situation with people who.. Read More →
Does a CCNA Certification help in getting Good Jobs?

Does a CCNA Certification help in getting Good Jobs?

The CCNA certificate will surely help you get in a better position right now. This certificate holds much power because of its course. It mainly.. Read More →

The supply of this course/package/program is governed by our terms and conditions. Please read them carefully before enrolling, as enrolment is conditional on acceptance of these terms and conditions. Courses run subject to registrations.

OUR ACCREDITATIONS

Find out why we are the leading choice to help boost your career in Australia

Prepare to get IT job ready in 8 weeks

Trained 10,000+ professionals and counting

Experienced Provider: Operating Since 2004

Trained staff from 1000+ Australian Businesses

We Have Placed Candidates In
SATISFIED CUSTOMERS
SOME OF OUR CLIENTS

Over 1000 organisations have relied on Logitrain to be their trusted training partner.

High-quality, cost-effective training in Australia
Learn More
  • OpenPay
  • This field is for validation purposes and should be left unchanged.

Dont’ Wait. Fill the form for a free no-obligation information session with our course specialists.

About The Author

Delivering Classroom and Live Virtual Training with Price Beat Guarantee

COVID discounts on Job Programs end soon, register today.