Business analysis is the practice of developing knowledge, measurements, evaluations and plans for an organization. It is a broad practice that is commonly applied to strategy planning, operations, projects, risk management, technical analysis, budget planning, competitive intelligence and business development. The following are illustrative examples of business analysis.
Discovering information required by a business. For example, investigating the costs associated with a strategy.Determining if a strategy, plan or approach is feasible given a set of goals and constraints.
MeasurementDeveloping measurements and metrics.
Financial analysis such as a calculation of return on investment for a strategy.Predicting future outcomes such as a sales forecast.Estimating costs, task completion times and risk.
The design of solutions such as processes and procedures.Collecting requirements from stakeholders and resolving inconsistencies to produce a cohesive set of business requirements.Discovering requirements such as an analysis of things that need to be done to comply with a regulation or standard.
Discovering inefficiencies and risks in the current state of your business.Use cases are a way to model the things that users need from an interface.Collecting information about customer needs, preferences and markets.
Determining the root cause of problems and proposing fixes.Discovering and interpreting data to support decision making.Management accounting is the development of measurements that are useful to management decisions such as the throughput of a process.
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