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Business Analysis

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image Business analysis is the practice of enabling change in an enterprise by defining needs and recommending solutions that deliver value to stakeholders.
 



Business Analysis Terms

Business Analyst: Any person who performs business analysis, no matter their job title or organizational role.
Business analysis approach: The set of processes, rules, guidelines, heuristics, and activities that are used to perform business analysis in a specific context.
Business analysis communication plan: A description of the types of communication the business analyst will perform during business analysis, the recipients of those communications, and the form and frequency of those communications.
Business analysis plan: A description of the planned activities the business analyst will execute in order to perform the business analysis work involved in a specific initiative.
Business need: A problem or opportunity of strategic or tactical importance to be addressed.
Business problem: An issue of strategic or tactical importance preventing an enterprise or organization from achieving its goals.
Context: The circumstances that influence, are influenced by, and provide understanding of the change
Elicitation: Iterative derivation and extraction of information from stakeholders or other sources.
Interview: Eliciting information from a person or group of people in an informal or formal setting by asking relevant questions and recording the responses.
Requirement: A usable representation of a need.


Business Analysis Tools

Brainstorming is an activity that seeks to produce a broad or diverse set of options through the rapid and uncritical generation of ideas.  Video | Document
Business Cases:   A justification for a course of action based on the benefits to be realized by using the proposed solution, as compared to the cost, effort, and other considerations to acquire and live with that solution.  Video | Document.
Business model canvas
describes how an enterprise creates, delivers, and captures value for and from its customers.
Business rules analysis is used to identify, express, validate, refine, and organize the rules that shape day-to-day business behaviour and guide operational business decision making.  Video.
Core concept model (business analysis): One of six ideas that are fundamental to the practice of business analysis: Change, Need, Solution, Context, Stakeholder, and Value.  Video1 | Video2.
Data flow diagrams show where data comes from, which activities process the data, and if the output results are stored or utilized by another activity or external entity.
Data model describes the entities, classes or data objects relevant to a domain, the attributes that are used to describe them, and the relationships among them to provide a common set of semantics for analysis and implementation.
Decision analysis formally assesses a problem and possible decisions in order to determine the value of alternate outcomes under conditions of uncertainty.
Document analysis is used to elicit business analysis information, including contextual understanding and requirements, by examining available materials that describe either the business environment or existing organizational assets.  Document
Estimation is used by business analysts and other stakeholders to forecast the cost and effort involved in pursuing a course of action.  Document.
Financial analysis is used to understand the financial aspects of an investment, a solution, or a solution approach.  Docment.
Functional decomposition helps manage complexity and reduce uncertainty by breaking down processes, systems, functional areas, or deliverables into their simpler constituent parts and allowing each part to be analyzed independently.  Video.
Item tracking is used to capture and assign responsibility for issues and stakeholder concerns that pose an impact to the solution.  Document.
Interface analysis is used to identify where, what, why, when, how, and for whom information is exchanged between solution components or across solution boundaries.
Interviews is eliciting information from a person or group of people in an informal or formal setting by asking relevant questions and recording the responses.  Video | Document
Lessons learned process is to compile and document successes, opportunities for improvement, failures, and recommendations for improving the performance of future projects or project phases. Video,
Process analysis assesses a process for its efficiency and effectiveness, as well as its ability to identify opportunities for change.
Reviews are used to evaluate the content of a work product.  Document.
Metrics and key performance indicators measure the performance of solutions, solution components, and other matters of interest to stakeholders.  Video.
Mind mapping is used to articulate and capture thoughts, ideas, and information.  Video.
Organizational modelling is used to describe the roles, responsibilities, and reporting structures that exist within an organization and to align those structures with the organization's goals.  Video.
Observation is used to elicit information by viewing and understanding activities and their context. It is used as a basis for identifying needs and opportunities, understanding a business process, setting performance standards, evaluating solution performance, or supporting training and development.  Video.
Process modelling is a standardized graphical model used to show how work is carried out and is a foundation for process analysis.  Video.
Risk analysis and management identifies areas of uncertainty that could negatively affect value, analyzes and evaluates those uncertainties, and develops and manages ways of dealing with the risks.  Video.
Root cause analysis is used to identify and evaluate the underlying causes of a problem.  Video1 |Video2.
Stakeholder lists, maps, and personas assist the business analyst in analyzing stakeholders and their characteristics. Video1 | Video2
SWOT analysis is a simple yet effective tool used to evaluate an organization's strengths, weaknesses, opportunities, and threats to both internal and external conditions.
Scope modeling define the nature of one or more limits or boundaries and place elements inside or outside those boundaries.  Video.
A survey or questionnaire is used to elicit business analysis information—including information about customers, products, work practices, and attitudes—from a group of people in a structured way and in a relatively short period of time.  Document.
Workshops bring stakeholders together in order to collaborate on achieving a predefined goal.  Video.


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