Importance of Business Analysis to an Organization. Business Analysis can be referred to as a set of activities analyzing and rectifying the mistakes among projects in an organization. It is a three step process that begins with identifying needs in the organization, then coming up with appropriate solutions and later implementing the most suitable ones. In fact, for a business to be able to come up with an appropriate plan, it has to first put in use the business analysis techniques. It is evident that risks are inevitable for organizations, therefore to avoid failure in projects undertaken, they utilize business analysis techniques. A business analyst studies the projects carefully, identifies possible risks and discovers new approaches to avoid those risks. Most of the times, organizations do not consider the risks associated with a project before starting it which inevitably leads to project failure. 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. There are major benefits associated with undergoing an effective Business Analysis Training such as improved scope definitions, reduced costs and payback periods as well as shorter project durations. The business analyst should first understand project goals so as to be able to devise appropriate strategies. The first step in studying a project is to understand why the project has been initiated. It will help in defining the objectives more clearly and designing strategies accordingly. Most organizations task thir professionals with the responsibility of making decisions even when they are not proficient in the said fields and therefore resulting to unwise decisions being made. The unwise decisions mostly lead to project failure. There is need for organizations to ensure that it is the right people who make these decision. This is where the importance of hiring Business Analysts comes in. Once the idea for a particular project is thought of it becomes the responsibility of the Business Analyst to see if the idea is feasible or not. The business analyst meets with the initial parties and then helps them to go through relevant data such as pertinent documents, operating manuals among others. 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.