Business Analysis Services: What, When, and Why

High amount, high pace, and high multiplicity: all these properties are used to describe data every business generates.

For traditional data processing applications, data sets are too large or too complex, and high technologies, such as AI and IoT, that are supposed to simplify information processing often only add complexity.

With all this said, it becomes pretty hard for modern businesses, especially those standing at the beginning of their way, to understand where to move, what strategies to pick, and how to improve the current state of the company.

What is business analysis?

Business analysis is a discipline that centers on what a particular business lacks and how it all works to suggest the best possible way out.

It involves collecting and examining data, spotting problems or areas that could be refined, and outlining what a project should cover.

Business analysts act as a bridge between different stakeholders—such as project managers, product owners, and product managers—to prove the software integrated into the workflow goes in line with all the goals.

Why Business Analysis Matters for Your Software Projects

Business analysis is a must-have for successful software projects because it keeps communication clear, governs risks, and smartly divides resources.

By bridging the gap between founders and developers, business analysts prove all necessities are captured so the software hits the mark and delivers value. Plus, by centering around what matters most, they make sure time, budget, and team efforts are put to good use.

What Phases Does Business Analysis Include?

Business analysis is not some kind of a magic pill, but a complex process consisting of some constituents. Altogether, they help detect the gaps and fill them with relevant solutions.

Project Discovery to Set Business Goals

During the project discovery phase, business analysts engage with stakeholders to gain a clear understanding of the company’s goals, problems, and needs. The most common practices for collecting information include interviews, workshops, and research.

Requirements Management to Organize Data

Requirements management literally refers to organizing the gathered information in a clear, systematized format.

Business analysts then prioritize them based on importance and administer any amendments that pop up throughout the project.

One common technique used here is creating user stories—short, user-centered descriptions of what the software should do. These stories outline the features and functions the solution must deliver from the user’s point of view.

Software Requirement Audit to Spot Any Gaps

Software requirement audits go over the current software demands to spot any gaps, inconsistencies, or overlaps. This step is literally a must because it confirms everything is covered and nothing missed.

Enterprise Business Process Analysis to Suggest Improvements

Analyzing enterprise business processes means scrutinizing current workflows to find ways to refine them. Business analysts document how things are done, identify any bottlenecks, and suggest more rational and labor-saving solutions.

Market Fit Scanning to Probe the Product

A product-market fit analysis is necessary for understanding the target market, user behavior, and competition. Business analysts do market research, gather people’s opinions and comments, and uncover market trends to make sure the software fits the market like a glove.

4 Reasons to Use Business Analysis Consulting Services

Business analysis as a service can be a big help in various situations:

• New Software Integration: Starting a new project? Business analysis can evaluate your project’s scope, collect business requirements, and prove everyone’s on the same page about the objectives.
• Software Upgrade: Planning to improve or update your existing systems? Business analysts can pinpoint areas for improvement and outline the alterations needed to match new business circumstances.
• Workflow Optimization: If you’re looking to make something better, business analysis can help you spot breaches, advise new directions, and recommend solutions to augment decisions.
• Change management: When making major changes, such as new software or restructuring processes, business analysis provides insights and guidance to cushion the transition and make it well-planned.

The List of Some Valuable BA Tools

Normally, business analysts use a variety of BI tools to do their work well. For managing project requirements, they use software like JIRA, Redmine, Trello, and Confluence, which helps keep track of everything the project needs.

To map out and visualize data, they use Microsoft Visio, Lucidchart, and Bizagi. For working with data, they usually rely on Microsoft Excel, Tableau, and Power BI.

And for staying connected with founders and development teams, they employ Slack, Microsoft Teams, and Google Workspace. However, this is only a small part of the total.

SCAND’s business analysis services offer the expert knowledge and tools you need to move forward with confidence. Contact us now if you need advice or assistance with business analysis or related software development to back your operations.