Business Analysis Examples
BUSINESS ANALYSIS EXAMPLES
Business analysis examples of techniques will be discussed in this article. Business analysis is the discipline of recognizing business needs and finding solutions to various business problems. It is a set of task and technique which works as a connection between stakeholders. For effective business analysis, there are some noteworthy examples
Business Analysis Examples of tools-Business Requirements
Describing required changes in enough detail to implement and test them. For example, gathering requirements from dozens of stakeholders for a technology project and resolving inconsistencies to produce a business requirements document that is consistent, atomic, cohesive and feasible.
Requirements that describe the qualities and characteristics of change in areas such as customer experience, operations, risk management, compliance, usability and information security. For example, a corporate style guide that describes how products, services, information, communications and user interfaces will look and feel.
Developing meaningful ways to measure things such as metrics for a business process that will highlight inefficiencies such as bottlenecks.
Business Analysis Examples of tools-Benchmarking
Developing numerical comparisons to understand how your organization is performing relative to an industry, competitor or theoretical maximum or minimum. For example, an ecommerce company that develops a benchmark to compare shipping costs with a close competitor.
A gap analysis seeks to find problems and inefficiencies in processes, practices and tools such as an evaluation of a process that identifies opportunities for improvement.
A project charter defines a project including background, objectives, scope, assumptions, constraints, risks and roles & responsibilities.
Developing a proposal for change to existing elements of a business. For example, a business case for a project that includes objectives, scope, payback analysis, risks and alternatives.
Business Planning and budgeting
Developing a proposal for a new business or line of business such as a business plan to invest in a new industry with support of budget planning processes such as an analysis of cost and risk for a proposed initiative.
Developing estimates of task duration, cost and risk. For example, estimating the probability and impact for a set of identified risks.
Business Analysis Examples of Tools-SWOT Analysis
Developing information about industries, competitors, markets and customers. For example, an analysis that estimates the cost base of a competitor.
Developing knowledge related to customer needs, preferences and market trends such as an analysis of what type of socks young snowboarders need and want.
Financial analysis such as a revenue forecast for a product.
Guiding the process of developing technical solutions, plans and knowledge. For example, developing an inventory of systems and applications with an assessment of the health of each.
The process of identifying, assessing and treating risks. For example, developing risk treatments for a set of identified business risks and also making plans for things that might happen such as a business disaster plan for an office location.
All the aforementioned examples are crucial in achieving effective business analysis and for more information on JK Michaels courses.