Business analysis is the process of understanding current state (as-is) and defining future state (to-be), and strategy of implementing the future state through change management and requirement management.
As per the International Institute of Business Analysis (IIBA), A Guide to the Business Analysis Body of Knowledge (BABOK) Guide version 3.0, “Business analysis is the practice of enabling change in an enterprise by defining needs and recommending solutions that deliver value to stakeholders. Business analysis enables an enterprise to articulate needs and the rationale for change, and to design and describe solutions that can deliver value.”
As per BOBOK Guide version 2.0, “Business Analysis is a set of tasks and techniques to understand business needs (problems or opportunities) by analyzing the organization structure, culture, policies, and operations to recommending of the solution to the stakeholder of an organization in order to help it achieve its goals.”
In addition to the above-mentioned factors, to analyze the current-state, the business analyst will have to study the products, services, operations (how products/services are delivered to the customer, how policies, and regulations, including internal and external regulations, affect the operations, etc.) and business needs. While recommending a solution, the business analyst will have to synthesize the market data before defining future-state. This ensures that the potential solution is suitable for current and future needs.
As mentioned in the “business analysis” book published by the British Computer Society (BCS), “Business Analysis as a practice helps facilitate change in an organization by defining business needs (problems or opportunities) in collaboration with its stakeholders through strategy analysis and requirement engineering (planning, elicitation, analysis, management, and validation). The recommended solution could be an IT or non-IT, minor or humongous and customized or off-the-shelf product.”
To read more, please check the introduction section of Business Analysis in Business Analysis: The Question and Answer Book
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