Business analysis methods encompass various techniques to assess and improve business processes.
Some common methods include SWOT analysis, PESTLE analysis, stakeholder analysis, use case modeling, and cost-benefit analysis.
Each method serves a specific purpose in understanding and enhancing different aspects of a business.
The business analysis methods are:
1. SWOT Analysis: Examines Strengths, Weaknesses, Opportunities, and Threats to understand the internal and external factors influencing a business.
2. PESTLE Analysis: Evaluates the Political, Economic, Social, Technological, Legal, and Environmental factors affecting a business to anticipate potential challenges and opportunities.
3. Stakeholder Analysis: Identifies and assesses the interests, influence, and impact of various stakeholders on a project or business.
4. Use Case Modeling: Illustrates how a system or process interacts with external entities, defining different scenarios and outcomes.
5. Cost-Benefit Analysis: Compares the costs of a project or decision against the expected benefits to determine its feasibility and potential return on investment.
6. Gap Analysis: Identifies the difference (gap) between current performance and desired future goals, helping organizations plan how to bridge that gap.
7. SWOT Analysis: Focuses on understanding an organization’s internal strengths and weaknesses to leverage opportunities and mitigate threats.
These methods provide valuable insights for decision-making and strategic planning in business analysis.