SWOT Analysis – SWOT stands for strength, weakness, opportunities, and threats. The internal factors of a business organization are represented by strengths and weaknesses, whereas opportunities and threats are the external factors of the organization. Business Analysts conduct a thorough analysis of the organization by considering all the factors that may have a positive impact (strength and opportunities) and negative impact (weakness and threats). This is the most used business analysis technique that could be applied at any phase of project development and is used in every industry.
- MOST Analysis – MOST stands for mission, objective, strategy, and tactics. It is a structured business analysis technique used by business analysts to focus on the goals and plans of the organization. It provides a clear understanding of the organizational mission and objectives as well as its strategy and tactics to achieve them.
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- PESTLE Analysis – PESTLE stands for political, economic, social, technological, legal, and environmental factors that affect the business processes of an organization. Each factor has the potential of affecting the business process in a positive or a negative way. It is also an effective technique to identify business risks and prepare risk mitigation strategies for them.
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- CATWOE Analysis – CATWOE stands for customers, actors, transformation, worldview, owner, and environment. This business analysis technique focuses on the needs of the organization and analyses the problem areas associated with the stakeholders of the organization. It helps business analysts prioritize tasks and requests of stakeholders based on their benefits to the organizational objectives.
- Brainstorming – This is the most powerful and popular business analysis technique. Brainstorming helps business analysts find unique solutions to the problems faced by the business organization. This activity brings together several professionals from different departments within the organization to discuss ideas and solve the problem in a creative way.
Other common business analysis techniques used by business analysts include BPM (Business Process Modelling), Use Case Modelling, Requirement Analysis, Non-functional Requirement Analysis, and User Stories. Every business analyst must have knowledge of these business analysis techniques to help their organization achieve its objectives. PMI-PBA (Project Management Institute-Professional in Business Analysis) Certification can help aspiring business analysts validate their knowledge and skills in using these business analysis techniques. With the help of the PMI-PBA Certification Training Course, future business analysts can earn this prestigious credential and achieve their career goals.
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