Business analysis is the set of activities performed by a business analyst to

• Satisfy the needs of an organization
• Solve the problems of an organization
• Capitalize the opportunities in front of the organization.

By performing the business analysis activities, he or she is helping the organization to transform from one state to another state leads to a development in the organization.

You may ask the question, how a business analyst alone is able to do this well. The business analyst is armed with the necessary skill set in the form of core and peripheral competencies to carry out the business analysis activities.

A leading automobile showroom in Chennai. It has around 20 sales persons, who meet the prospects and explains about the features of the car and about the various financial options available to them. Being a traditional organization each of the sales persons were writing down the details of the prospects. The new VP Customer Service wanted some visibility to the leads (someone who is willing to buy a car) generated on daily basis. But unfortunately unless otherwise each of the sales person explaining him it is not possible. Or at least he has to disturb them when they are really busy with the prospects. Here is a problem within the organization. So the VP asked the company’s business analyst to review the situation. After carrying out a detailed analysis and after speaking to few of the employees, the business analyst submitted a report to the VP. The report contains the prescription to the problem which is called a solution. The business analyst actually recommended a Customer Relationship Management (CRM) software. Now with this software all the sales persons will be recording the information directly in the CRM which can be viewed by this VP whenever he wants to and also he can plan various activities based on that. As you are just beginning to understand business analysis I made is very simple, but in reality this is a very detailed work which may take several months of a business analyst.

Need - Problem - Opportunity

These three words are very important. Most of the time need arises within the organization, problem can be from either inside or outside of the organization and opportunity is from outside of the organization. The difference between these three words are sometimes very marginal. In general, need is not something very serious, which will not adversely affect the business, but on the other hand, a problem may kill an organization. In case of opportunity, if it is not exploited at the right time it may be lost for ever and the organization may be devoid of its growth potential.

Need: An engineering company wants to open a new office space.

Problem: The mobiles sold by a company explodes when it is connected with power.

Opportunity: Union government announced a subsidy up to 80% to households to install the solar panels. This is an opportunity for a solar company.

Fhyzics Business Consultants, an Approved Training Provider of BCS, UK offering Business Analysis, Artificial Intelligence, Business Consulting and User Experience certifications of BCS, The Chartered Institute for IT, UK. All the certifications come with Training, Preparation Material and Examination. The trainings are available in both classroom and online formats. For more details, please visit our website at www.iiscm.org or email us at cs@fhyzics.net or speak to us at +91-900-304-9000.