What is a Business Analysis and What does a Business Analyst Do

3 min read
15 September 2022

What is Business Analysis? 

Business analysis is a combination of gaining insight from data using specific techniques, and performing tasks to identify the needs of a business—then, recommending changes and providing solutions that produce value for the stakeholders. Many of the solutions potentially have software and digital data-based components, but can also incorporate organizational changes, like improving processes, developing new policies, and engaging in strategic planning.

 

What Does a Business Analyst Do?

Business analysts are agents of change—professionals who analyze a business or organization, by documenting its systems and processes, assessing its business model, identifying vulnerabilities, and devising solutions.

Bear in mind that some organizations also use the term “IT Business Analyst.” Although there seems to be no clear consensus regarding the differences between the two positions (and, in fact, many organizations use them interchangeably), some circles note that the IT Business Analyst works more with software methodologies.

Once the business analysis definition is locked down, the more curiosity-driven reader may follow up by asking, “In that case, what is business impact analysis?” Business impact analysis is a practice that’s of particular relevance in these days of pandemic-induced business shutdowns. Business impact analysis, or BIA, aims to predict and identify the financial and operational impacts of business disruption. You can be sure that before many businesses closed temporarily due to the coronavirus, they launched business impact analysis studies.

Now that we have gone through to understand what is business analysis, let us next look at the difference between business analysis and business analytics.

 

Difference Between Business Analysis and Business Analytics

We should take a moment and clarify the distinction between these two concepts. Business analysis is more concerned with functions and processes, while business analytics covers data and reporting. Still, many organizations use the terms interchangeably.

As we have learned what a business analyst is, let us understand business analysis uses.

Why Use Business Analysis?

Thanks mostly to the breathtaking pace of today’s technological advancements, the 21st century’s business world is one of rapid, constant change. Innovations change the way we live and work, and businesses must be able to adapt to these changes or get left behind.

Business analysts are the ideal professionals to shepherd any organization through the tricky terrain of change. Once they navigate through those changes, businesses emerge more robust, more competitive, and better equipped to handle the ever-evolving world of digital-based business.

After having understood what is a business analyst, let us next look at the business analysis process.

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