Business Analysis. Find the need, define a solution and create value.

What is business analysis? What are the advantages and what are the tasks for a business analyst?

Business Analysis: Core Concepts

What is business analysis?

Business analysis means solving issues. To say it more positively: You meet needs. These needs may be of any type or size. For example, an organization wants to improve a business process. Or a department has the need of a new tool in order to create their product documentation. These examples may seem easy at first glance but business analysis has to deal with a lot of questions. For instance: Is the described issue the real issue? What is the issue in reality? What kind of solutions are there and which is the best one? Has the solution actually met the need that was described and how well did it?

This means: Business analysis deals with a lot of information that you have to analyze, compare and validate. It means that you communicate with all persons involved and look at the need from all kinds of perspectives to find the best solution – and don’t forget to questions solutions you’ve found. Since business analysis comprises a wide range of methods, tasks and skills, the Business Analysis Body of Knowledge (BABOK) has been created. This guide is currently present in the third version and provides a guideline for business analysis. The International Institute of Business Analysis (IIBA), a non-profit organization with more than 28,000 members, has created it.

Advantages of the business analysis

  • Tool

    to make organizations more efficient, productive and profitable

  • Chance

    for organizations to express their needs, welcome changes and find solutions that create value for them

  • Pointer to the future

    that ensures that the organization is on track to reaching their goals

  • Error reduction

    because every information is considered and compared

  • Improved communication

    because all people involved are talked to, allowing them to express their opinions

  • Customer satisfaction

    because all stakeholders and their goals are included