What Is Business Analysis? [ Types, Steps, How to Write ]

You might be familiar with SWOT analysis in the field of business. This is targeting the strength, weakness, opportunities, and threats to benefit the organization. Business analysis comes in various types, which also comes in different purpose and importance. This analysis includes an executive summary, introduction, methodology, statistics, and conclusion.

The comprehensive planning to the analysis in writing is as important as implementing these strategic data. Analysis is not complicated on the surface, but the true nature of analysis is actually making things complicated, breaking down the macro issues into micro issues and examining it in every angle.

What Are the Types of Business Analysis?

Here are some types of business analysis usually found in analysis examples:

• Appreciative Inquiry. This analysis helps envision “what might be” by studying and changing the “what is.” This is usually used to create an environment that deals with difficult issues and build a cohesive group.
• Balanced Scorecard. A method used to balance and align the organization’s vision, mission, and goal of its business activities and current performance.
• Benchmarking. Another type of analysis that compares one’s organization to another. This is used to analyze the competitor’s point of strength and weakness.
• Cost-Effectiveness Analysis. It is a process of organizing information to compare cost of alternatives and its relative effectiveness.

How Do You Conduct a Business Analysis?

• Gather background information. Identify the nature of the business or the domain of the project whether it is health, financial, marketing, etc.
• Know your stakeholders. The stakeholders are the ones who establish policy and provides the requirements needed, so it is important to know them since they’re the ones who make the decisions.
• Identify the objectives. Listing why the project has to be done will help narrow down general tasks and ideas into something more specific.
• Evaluate options and alternatives.
• Conduct task analysis. Analyze which task is necessary and which is not.
• Assign managers for specific tasks.
• Business analysis delivery plan.

What Are the Steps in Business Analysis?

• Project planning. The very first step, even in analysis samples, is to plan what possible methods and approaches you will use to get the outcome you want after the analysis.
• Define the scope of the project.
• Analyze the requirements. Include the resources you will need in this project, who are the people and what skills do they need to possess to be able to deliver an effective job.
• Formulate, test, and apply the solution.
• Conduct post-business analysis evaluation.

How to Write a Business Analysis

• Write an introduction and objectives. The introduction should state the problem, the methods that were taken into account, and the recommendations for the problem.
• The body/content. This includes the analytical discussion, the detailed background of the recommendation. In addition to this, discuss also the major points and the rationale of the recommendations.
• Present the results. Results should be interpreted in the simplest form; graphs or tables could be used for this. This is most visible in vendor analysis whenever a product or services are being assessed in its financial strength.
• Conclusion. The conclusion should deliver the end result of the analysis.
• Summary. This should be a brief portion that covers the whole content.