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What is Business Analysis?

February 5, 2021 4:04 pm

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Business analysis is the study of identifying company requirements and then determining appropriate solutions to organizational problems. Solutions may include a software system-engineering component, but can also include process improvements, organizational restructuring or strategic planning, and/or case studies of real world problems faced by similar companies. The focus of business analysis is to provide management with a framework through which they can understand the company’s activities, services, and processes and from which they can learn how to provide customers with products or services that meet their unique needs.

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In order to be effective, business analysis must be grounded in the knowledge of who their stakeholders are, as well as what those stakeholders want and need. This way, managers can build services or products that help their stakeholders in their tasks, and at the same time that will satisfy those same stakeholders. Unfortunately, however, there are many managers who simply cannot apply themselves to the task of truly understanding their own company or how the services or products they are selling or marketing will impact their stakeholders. Some managers may make the mistake of trying to do too much, too quickly–that is, trying to implement changes without taking the time to understand how they will actually affect their stakeholders. For Accelerated Analytics, visit https://www.brytlyt.com/

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There are several benefits to analytic software. First, it helps you understand your business better; second, it helps you understand your customers and how they think, what makes them tick, and what motivates them to buy your product or support your company. Finally, it helps you understand what technology your business needs to use to make the changes, and what technology you already have in place that can complement the changes you’re making.

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