Importance of Business Analysis for successful companies

Business Analysis is defined as focusing “on understanding the needs of the business as a whole, its strategic direction, and identifying initiatives that will allow a business to meet those strategic goals. It is  about understanding how an organization functions to fulfill its purposes. It is the practice of enabling change in an organizational context, by defining needs and recommending solutions that deliver value to stakeholders. In other words, Business Analysis is a disciplined approach for introducing and managing change to organizations, whether they are for-profit businesses, governments, or non-profits.

The critical Important of Business Analysis is that it involves a thorough examination of not only the business problem (need) and its proposed business solution (if one already exists), but also an in-depth look into whether the proposed solution is truly the best solution, a detailed analysis of what the solution entails, its risks, and its feasibility in the existing organizational environment.

The following are the importance of business analysis;

1. It determines and discover the primary stakeholders of an organization.
2. Business Analysis defines a solution method to find the nature and extent of technology and process changes which should be made.
3. Business analysis helps in collecting the information needed and analysing that information.
4. Supporting the technical implementation
5. Help the firm apply the solution
6. Create a value for the firm and its stakeholders