Importance of Business Analysis to an Organization. The process of rectifying and analyzing mistakes among projects in a company is what is referred to as business analysis. It is a three step process that begins with identifying needs in the organization, then coming up with appropriate solutions and later implementing the most suitable ones. In fact, for a business to be able to come up with an appropriate plan, it has to first put in use the business analysis techniques. It is evident that risks are inevitable for organizations, therefore to avoid failure in projects undertaken, they utilize business analysis techniques. The person who is tasked with the responsibility of studying projects, identifying risks and coming up with new ways of avoiding risks is referred to as a business analyst. Very often organizations plan a project without considering the pros and cons associated with it due to which the possibility of a failure arises. Hence it is necessary for an organization to contemplate and be very sure of the project before going into the project. Business analysis therefore involves analyzing and influencing three key business aspects as explained below: Strategy of the business-it’s an analysis of the company profile and implementation of strategies based on it.
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Organizational Architecture involves analyzing actual operations, such as the objects and resources already assigned by the company to facilitate running of the operations.
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o Business Systems – Analysis of the businesses information system’s needs, defining required changes to information systems based upon this analysis. There are major benefits associated with undergoing an effective Business Analysis Training such as improved scope definitions, reduced costs and payback periods as well as shorter project durations. The Analyst should be sure about the goal of the project and devise all the possible strategies to achieve it. The reasons behind project initiation provide vital insights towards understanding a project. This helps in designing appropriate strategies as well as defining the relevant objectives. Very often the major decisions related to projects are taken by professionals who are not necessarily proficient in this field and hence are not capable of taking wise decisions. As a result of which projects tend to fail. In order to avoid project failures, there is need for organizations to ensure that it is the right people who make these vital decisions. The need for organizations to hire a professional business analyst comes in here to fill the gap. The business analysts therefore take up the ideas proposed by a business and then determine whether they are feasible or not. Once the business analyst has met with the initial parties, they must then analyze important data related to the business such as business records, operating manuals, business guides and other pertinent documents. Moreover, it is the business analysts who ensure that organizations utilize their resources in the most efficient manner by breaking the bigger picture into smaller achievable parts.