Business Analysis: Basic Concepts and Benefits

May 16, 20183 min to read
Business Analysis: Basic Concepts and Benefits

Like any other type of analysis, business analysis involves studying the subject by dividing it into separate components. Business analysis services are in great demand. There are dozens of such research methods, and the same object can be analyzed from different angles.

Consider the three most popular methods.

Developing Acceptance and Evaluation Criteria

The purpose of the method is to determine criteria that a customer can comply with. The criteria are divided into two types:

  • Acceptance. It includes those requirements that solutions have to be relevant to.
  • Evaluation. In fact, these are the parameters for choosing between a number of available solutions.

All criteria should be tested. If it is not possible, they are broken down into discrete requirements. For the method to be convenient, the criteria are ranked according to their significance. The key advantages of the method involve supporting agile development requirements and possibility of expressing individual requirements in the form of contractual obligations.

Brainstorming

The purpose of the method is for a team to generate new ideas with their subsequent analysis. The most common issues raised at brainstorming are:

  • How to solve a relevant problem right now?
  • What are the obstacles on the way to get this or that solution?
  • What’s holding us?
  • How to solve the problem with minimal expenses?

Before starting the discussion, it is important to accurately formulate its topic, determine the time frame and create a competent team. Brainstorming involves generating ideas that are not accepted for criticism and discussion. They are fixed on paper and serve as the basis for new ideas. Advantages of the method are:

  • Getting a lot of new ideas in a short period of time.
  • Triggering employees’ creative thinking.
  • Removing unnecessary tension among team members.

Business Rules Analysis

The method purpose is to identify the established rules influencing company activities. All relevant factors should be taken into account, but the number of rules should not be excessive. There are the following requirements:

  • Rules are formulated using terms understandable to the customer and the contractor.
  • Rules should not contain descriptions of their execution.
  • Requirements are set out in a declarative form and cannot imply their further dividing into more specific requirements.
  • Rules should be strictly separated from processes.
  • Rules to be maintained over time should be singled out.

There are 2 types of rules:

  • Structural. Show the structure of already established knowledge in the company. Such rules are divided into categories and on their basis new integral structures are created.
  • Resolutive. Regulate the participants’ behaviour in any process (the company activities).

This method allows to change the established rules and put forward new ones aimed at improving changes in business. At the same time, no global adjustments are made to business processes.

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