Business analysis technıques and business analysts help you make the right choices for your business; explore the world of options
Table of Contents
Busıness Analysıs Technıques And Busıness Analysts
We do business analysis basically to find solutions, so why do we need these solutions, because we have to know the requirements of our company.
What will happen in the sector in the coming years, what changes are waiting for us, how can we keep up with innovations.
If we can identify our company’s needs, we can generate appropriate recommendations and solutions.
In the modern world, business analytics involves digital and software. However, experts can develop new strategies and make suggestions that offer solutions.
The most important thing in business analysis is to identify security vulnerabilities as well as find company requirements.
Business Analysis Technıques Help You To Choose
As a result, business analysts help organizations adapt by measuring and analyzing requirements and threats, then developing and executing the best solutions.
Much of the data needed to get at these findings were gathered in a number of methods, which is frequently referred to as “massive data.”
The world of digital data offers so many options for consumers and businesses. Finding the right one of these options is really a challenge.
Just sorting out these options and finding the right one for your company is actually a full-time job.
Having so many options seems nice at first, but with so many options, people can’t decide. We can admit that it’s a kind of chaos.
And if we look at it from the point of view of the average person, the world of options is like a labyrinth for them.
Business Analysis Technıques Choose The Rıght Optıon
On the other hand, the business world also gets its share of this confusion; having too many options makes it almost impossible to plan a business.
As you can see, we have a mess of options, so how do we get this thing in order; this is exactly why analysis techniques and business analysts come into play.
It is not an exaggeration to say that the survival of a company depends on them. So what do they do;
These analysts assist organizations discover needs, eliminating errors, and filtering through a flow of data and alternatives to find the best actionable solution using various structured business analysis approaches.
Business Analysis Technıques List
Okay, now we have some idea of what analysis techniques and business analysts are. Well, how does business technical analysis bring a company to the top, can it give a concrete example of what we call analysis techniques, the answer is: yes.
There are many analysis techniques, the most important and proven ones are below.
Moscow /Must or Should, Could or Would/, Business Process Modeling , Brainstorming, Catwoe, PESTLE , SWOT ,Six Thinking Hats, The 5 Why
Analysis Technique And Explanation
Moscow /Must or Should, Could or Would/: This method prioritizes needs by establishing a framework for weighing each request against the others.
The method causes you to think about whether or not an item is necessary.
Is it a must-have or a must-have-have? Is demand something that might improve the product or something that could be a nice concept down the road?
Business Process Modeling (BPM):
This technique consists of four tasks:
Strategic Planning, Business model analysis, Defining and designing the process.Technical analysis for complex business solutions
BPM is often used during the analysis phase of a project to understand and analyze the problems of the current business process and a future process that the business is targeting.
Many industries, especially the IT industry, prefer this technique as it is a simple and straightforward way to present the steps of the execution process and demonstrate how to work in different roles.
Braınstormıng: Old school crew wıll love thıs technıque
To create fresh ideas, discover core causes of an issue, and find solutions to complicated business challenges, nothing beats good old-fashioned brainstorming. Brainstorming is a type of group activity that is frequently utilized in other approaches like PESTLE and SWOT analysis.
CATWOE Customer, Benefıt
CATWOE As you can imagine, this is an acronym. What does it mean;
Customer: Who Benefits from the Business:
Actors: Who are the players in this scenario?
The Transformation Process: What is the system’s basic transformation?
What is the broad picture and what are the consequences of it?
Owner: Who owns the system in question, and what is their relationship?
Environmental Constraints: What are they and how do they influence the solution?
By bringing together the perspectives of many stakeholders on a single unified platform, it identifies the key actors and benefits.
This approach is used by business analysts to analyze how a proposed action will affect multiple stakeholders.
PESTLE Envıronmental Factors
PESTLE Analysis: Political, Economic, Sociological, Technological, Legal, Environmental, Waste; here is PESTLE analysis.
When making business choices, business analysts utilize the PESTLE model to discover environmental variables that may influence their organizations and how to effectively handle them.
SWOT Identıfyıng the company’s strengths and weaknesses
This Analysis: One of the most widely used methodologies in the business; SWOT analyzes a company’s strengths and weaknesses and presents them as opportunities and threats.
The information assists analysts in making better resource allocation decisions and suggesting improvements to the organization.
Thınkıng in Sıx Hats:
This method is frequently used in conjunction with brainstorming and is intended to guide the team’s mental processes and encourage them to explore alternative viewpoints.
Six hats are as follows:
White: Emphasizes your facts and logic.
Red: Intuition, emotions, and gut feelings are all used by this color.
Black: Consider the negative implications and what may go wrong if anything goes wrong.
Yellow: Concentrate on the good aspects of life; be upbeat.
Green: Makes use of imagination.
Blue: Considers the larger picture, as well as process management.
Busıness Analysıs Technıques : The 5 Why: Fırst, figure out what’s causıng the problem.
Both in business analysis circles and in this approach, this technique is used. While the “Five Ws” (Who, What, When, Where, and Why) are used in reporting by journalists, the 5 Why approach puts the “Why” on a series of leading questions to assist business analysts to discover the root of an issue first. why is there an issue, then another “why?” Ask a follow-up question regarding the initial response, and so on
Further Reading:
Over 20 years in portfolio management, streamlining business processes, and systems integration. Utilizing best practices: PMI, Scrum, Agile, Kanban, Lean/Six Sigma, CMMI, ITIL and MOF. Extensive experience in managing in cross functional environment, getting to the root of the problem, bringing stakeholders together to resolve them. Vice President at Force3M Training.
