Business analysis techniques are methods and tools used by business analysts to understand, analyze, and communicate various aspects of a business.
Some common techniques include:
1. SWOT Analysis: Identifying strengths, weaknesses, opportunities, and threats of a business or project.
2. PESTLE Analysis: Examining political, economic, social, technological, legal, and environmental factors affecting a business.
3. Stakeholder Analysis: Identifying stakeholders, understanding their interests, influence, and impact on the project.
4. Root Cause Analysis: Identifying the underlying causes of problems or issues within a business process.
5. Gap Analysis: Comparing the current state of a business with the desired future state to identify areas for improvement.
6. Process Modeling: Visualizing and analyzing business processes using techniques like flowcharts or swimlane diagrams.
7. Data Analysis: Examining and interpreting data to uncover insights and trends relevant to business objectives.
8. Cost-Benefit Analysis: Evaluating the costs and benefits of a proposed solution or investment to make informed decisions.
9. Requirement Gathering Techniques: Techniques such as interviews, surveys, workshops, and observation to elicit and document business requirements.
10. Decision Trees: Visualizing decisions and their potential outcomes to aid in decision-making processes.
These techniques help business analysts gather information, analyze data, and make informed recommendations to improve business processes, products, or services.