Business Analysis Techniques
It is now generally agreed that #businessanalysis will help you not only analyze your business options and proposals, but also make informed decisions. Business analysis is a combination of knowledge, tools and tasks used to identify #businessneeds, then propoase #changes and find #solutions. There are many different tools you can use. One online article even talks about over 60 tools. Today let's look into 10 of the most common tools.
Business Process Modeling - helps to understand and analyze the gaps
Brainstorming - still a good tool to generate new ideas
CATWOE - identifies the leading players: Customers - Actors - Transformation Process - World View - Owner - Environmental Constraints
MoSCoW - Must or Should, Could or Would - prioritizes requirements by providing a frame work
MOST - Mission, Objectives, Strategies & Tactics - a robust business analysis framework
PESTLE Analysis - Political, Economic, Sociological, Technological, Legal, Environmental - Helps identify environmental factors that influence your business
SWOT Analysis - There is even an extended SWOT, which looks into the external and internal factors. This is taught by the KPI Institute
The Six Thinking Hats - a process that guides the groups thinking by encouraging to look at different ideas and perspectives:
White - data & logic
Red - intuition, emotion, gut feeling
Black - potential negative results
Yellow - the positive aspects
Green - creativity, innovation
Blue - the big picture, process control
9. The 5 Whys - ask yourself the question "why" 5 times
10. Non Functional Requirements Analysis
Learning to use these tools, how to use them and when to use which one, is what distinguishes you as a #businessanalyst.
Contact us for more information - we will walk with you on your journey to effective business analysis.