What is Business Analysis? And what is a Business Analyst?

Summary

This video explains business analysis, focusing on how business analysts help organizations identify and solve problems to improve processes, systems, and policies. It outlines the role of business analysts in research, gathering requirements, and evaluating solutions. The video also highlights different specializations within business analysis, such as strategic analysis, business operating models, process design, and systems analysis. Additionally, it introduces the Business Analysis Body of Knowledge (BABOK), a guide that outlines key competencies and techniques for business analysts, helping organizations drive change and deliver value through effective problem-solving and solution implementation.

Takeaways

• 😀 Business analysis is the process of identifying business needs and determining solutions to business problems.
• 😀 Business analysts help organizations improve their processes, systems, policies, services, and overall performance.
• 😀 The primary toolset for business analysts includes research, analysis, and presentation.
• 😀 Business analysts play a key role in the successful implementation of solutions through projects such as process improvement and system development.
• 😀 The three principal roles of a business analyst include researching and documenting systems and processes, gathering and evaluating requirements, and identifying and evaluating improvement options.
• 😀 Business analysts work with various systems including people, processes, policy, technology, and strategy to understand how they interact and form a cohesive whole.
• 😀 There are different types of business analysts, each specializing in different aspects such as strategic analysis, business operating models, business process design, and systems analysis.
• 😀 Strategic business analysts focus on market opportunities and threats, while business model analysts look at organizational structure and policy.
• 😀 Systems analysts focus on interpreting policies and processes into functional requirements for IT systems and often work alongside process-oriented business analysts.
• 😀 Business analysts follow the International Institute of Business Analysis' Business Analysis Body of Knowledge (BABOK) guide, which details key concepts, competencies, and techniques for effective business analysis.
• 😀 The six competencies in the BABOK guide include business analysis planning, elicitation, requirements lifecycle management, strategy analysis, requirements analysis and design, and solution evaluation.

Q & A

What is business analysis?

Business analysis is the process of identifying business needs and determining solutions to business problems. It involves researching, analyzing, and presenting solutions that improve organizational processes, procedures, systems, policies, and services.

What are the main roles of a business analyst?

A business analyst has three principal roles: researching and documenting business systems, processes, and problems; gathering and documenting requirements from stakeholders; and identifying and evaluating options for resolving problems and making improvements.

What systems do business analysts need to understand when analyzing an organization?

Business analysts need to understand systems like people, processes, policies, technology, and strategy, and how these systems interact to form a whole.

What are the four main specialisms of business analysts?

The four main specialisms of business analysts are strategic business analysis, business operating model analysis, business process analysis and design, and systems analysis.

How does strategic business analysis differ from other types of business analysis?

Strategic business analysis focuses on market opportunities and threats, determining the solutions an organization needs to respond to these opportunities and threats, while other types focus on internal processes and operations.

What is the role of a systems analyst?

A systems analyst is a type of business analyst who focuses on IT and communication systems. They interpret operational policies and processes into functional requirements that can be translated into software code.

What is the Business Analysis Body of Knowledge (BABOK)?

The BABOK is the standard guide produced by the International Institute of Business Analysis (IIBA) for the practice of business analysis. It outlines key concepts, competencies, and business analysis techniques, and is widely used in the industry.

What are the six key knowledge areas or competencies outlined in the BABOK?

The six key knowledge areas in the BABOK are business analysis planning and monitoring, elicitation and collaboration, requirements lifecycle management, strategy analysis, requirements analysis and design definition, and solution evaluation.

What is the purpose of the knowledge area 'business analysis planning and monitoring'?

This knowledge area focuses on organizing and coordinating the work of business analysts, ensuring that the analysis process is well-planned and properly monitored throughout the project or initiative.

What does the BABOK guide say about the definition of business analysis?

The BABOK guide defines business analysis as the practice of enabling change in an enterprise by defining needs and recommending solutions that deliver value to stakeholders. It helps organizations articulate needs, design solutions, and achieve the desired changes.