Business Analysis Key Terms

Business Analysis Key Terms

Before we get into business analysis key terms. Let us revisit the definition of business analysis again.

Business analysis is the practice of enabling change in an enterprise by:

  • Defining needs
  • Recommending solutions
  • Deliver value to stakeholders through the solutions

Business Analysis Key Terms

Define business analysis information

Business analysis information is the broad and diverse set of information that business analysts analyze, transform and report. Furthermore, it can be anything used as an input or output for business analysis.

Business Analysis Key Terms

 Give some examples of business analysis information

  • Elicitation results
  • Requirements
  • Design
  • Solution list
  • Scope of solution
  • Change strategy

Business Analysis Key Terms

 What is design?

Design is a usable representation of the solution. In addition, it focuses on understanding how building the solution will create value.

 

What do you mean by an enterprise?

An enterprise is a system of one or more organizations. Moreover, it is the solution they use to pursue common goals.

Solutions also called organizational capabilities. These are

  • Processes
  • Tools
  • Information

 

Briefly define an organization.

Autonomous group of people under the management of a single individual or a board. Above all, they work towards a common goal.

 

Explain what a plan is.

Plan is a proposal on how to achieve something.  In addition, it describes the

  • Set of events
  • Dependencies
  • Schedule
  • Sequence
  • Resources needed
  • Stakeholders involved
  • Expected result

 

What is a requirement?

A requirement is a usable representation of a need. Furthermore, it focuses on the kind of value delivered.

 

Finally, define risk.

Risk is an effect and measure of uncertainty. Incidentally, Business analysts deal with risk by the following actions.

  • Mitigation consequence
  • Removing risk source
  • Avoiding by bypassing
  • Sharing risk with partners and vendors
  • Accepting risk as a consequence for more opportunity
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