Business Analysis Techniques

What is Business Analysis Techniques? The below diagram explains Business Analysis Techniques. This chart shows an important concept or a framework to help one run their business, improve company's strategy, internal processs, enhance project management, technology, and client experience.

Business Analysis Techniques

Business analysis techniques are a set of tools, methods, and approaches used by business analysts to analyze, evaluate, and understand business processes, systems, and problems . These techniques can be used in various stages of the business analysis process, such as requirements gathering, stakeholder analysis, and solution evaluation .

Here are some of the most effective business analysis techniques that are commonly used :

1. Business Process Modeling (BPM): A graphical representation of the business process that helps to identify areas of improvement.
2. SWOT Analysis: A framework for identifying the strengths, weaknesses, opportunities, and threats of a business.
3. PESTLE Analysis: An analysis of the external environment factors that can impact a business.
4. Critical Success Factor: A vital area of performance that is essential for the success of a business.
5. Resource Audit: An internal capability analysis that helps to identify the resources available to a business.
6. TOWS Analysis: A matching of strengths and threats to identify strategic alternatives.
7. Ansoff’s Matrix: A framework for identifying strategic alternatives.
8. McKinsey 7-S Model: An organizational alignment model that identifies seven areas of alignment.
9. Ethnographic Study: An extended cultural immersion that helps to understand the culture of a business.
10. Narrative Parse: A storytelling analysis that helps to understand the stories that people tell about a business.