A business analysis glossary is a collection of terminology and phrases used in business analysis. It often incorporates business analyst language, concepts, and jargon.
This glossary helps business analysis professionals professionals to successfully communicate and understand a common key terms and topics.
It can include words such as requirements analysis, stakeholder management, process modeling, and others.
A lexicon of this type is an invaluable resource for anyone working in business analysis initiatives.
What are some the business analysis glossary words?
Here is a list of some common terminology that you might come across in a business analysis glossary:
1. Business Analyst: A specialist who examines an organization’s procedures, systems, and goals in order to find solutions to business challenges.
2. Stakeholder: A person or group who has an interest or involvement in the success of a project or endeavour.
3. Requirements: Statements that explain the functions, features, and limitations that must be met by a solution.
4. SWOT Analysis: A decision-making tool that assesses an organization’s strengths, weaknesses, opportunities, and threats.
5. Use Case: A technique for describing and documenting the interactions of a system or process with actors (users or systems).
6. Gap Analysis: The process of comparing current and desired states in order to find disparities or gaps that must be filled.
7. Agile: An approach to project management and development that emphasises flexibility, collaboration, and customer feedback.
8. Waterfall: A traditional approach to project management having a linear and sequential framework.
9. Business Process Modelling: The graphical representation of business processes for the purposes of understanding, analysing, and improving them.
10. ROI (Return on Investment): A metric that measures the profit or value gained from an investment.
11. KPI (Key Performance Indicator): Metrics used to assess a project’s or organization’s success or performance.
12. RACI Matrix: A technique for clarifying project or process roles and responsibilities (Responsible, Accountable, Consulted, Informed).
13. Scope Creep: Uncontrolled changes or additions to the scope of a project, which frequently leads to delays and budget overruns.
14. Change Management: The process of effectively planning, implementing, and managing organisational change.
15. BRD (Business needs Document): A formal document outlining a project’s high-level business needs.
16. User Story: A brief explanation of a software feature from the perspective of the end user, commonly used in Agile development.
17. Decision Matrix: A tool for analysing and comparing alternatives or possibilities based on established criteria.
18. Feasibility Study: An evaluation of a proposed project’s or solution’s practicability and viability.
19. ROI (Return on Investment): A metric that measures the profit or value gained from an investment.
20. Sprint: A time-boxed iteration in Agile development that typically lasts 2-4 weeks and involves the development and testing of a set of features.
These are just a few examples; a thorough business analysis dictionary may have many more terminology and definitions to assist professionals in the subject.