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 term which refers to the process of firstly identifying the needs of the business and then developing and implementing the solutions to meet them. Business analysis techniques are applied to develop an appropriate plan and then put it in to action. 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. Most of the times when projects fail, it is mainly because the organization did not consider the pros and cons before beginning it. Hence it is necessary for an organization to contemplate and be very sure of the project before going into the project. However, it is worth to note that the term business analysis is a very broad process involving analysis of three different aspects of business as explained below: o Business Strategy – Analyzing the profile of the company and implementing strategies based upon this analysis.
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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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Systems of the business-the information systems in the business are analyzed and the various changes required are defined. In order to advance ones career and reap benefits of reduced project costs and durations, it is vital for one to undergo a good business analysis training. The business analyst should first understand project goals so as to be able to devise appropriate strategies. In order to understand the project it is vital that one understands why the project was initiated in the first place. Project objectives and strategies are mainly designed after understanding why the project was initiated. 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. To avoid such failures organizations need to ensure that there are right people for the right job. This is where the importance of hiring Business Analysts comes in. The professionals in the organization are therefore only tasked with the responsibility of coming up with an idea and then passing it to business analyst to determine whether it is feasible or not. It is the business analyst who therefore takes the other parties through the analysis process by going through operating manuals, business records and 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.