How a Business Analyst Can Benefit Your Organisation
As businesses continue to rely on technology to improve their business processes and keep up with customer demands, the need for skilled professionals such as business analysts is becoming more critical. Below we explore how a business analyst can help your organisation.
Technology advancement has meant that businesses of all sizes use IT solutions to address business problems and improve business processes. With these solutions constantly evolving, it can be hard to know which one can do what you need for your business. This is the reason that there is a continued high demand for qualified professionals with a knowledge of business analysis.
Business analysis by definition is the practice of researching and identifying business needs and presenting solutions to business challenges. Business analysts then can act as the bridge between business ideas and capabilities. They empower businesses to evolve a project from an idea into a tangible set of detailed functional requirements.
Business analysts can offer advice on anything from organisational change, program requirements, process refinement, technology or system improvements and strategic planning. However, some companies don’t cater for the role of the business analyst as they may assume this responsibility can be taken on by the project manager or developer. However, this can lead to project failure as it the business analyst who manages communication between the client and the company that provides the service or product.
Below we explore some other benefits of having a business analyst on board for a given project.
Reduced Project Cost
Although hiring a business analyst may seem like an additional investment at the beginning, overall they can reduce the cost of a project. Business analysts are skilled at identifying and recommending cost-effective solutions to meet business needs. They can also spot areas in your current business processes where you could save. Another area where they help reduce costs is in preventing project re-work. This can happen when a developer begins work on a solution but then needs to make changes due to stakeholders and users needs not being correctly translated across which can become costly. Business analysts work to thoroughly gather all requirements at the beginning using a series of structured workshops to prevent rework further down the line.
Increased Project Return
Return on investment is an important metric for all businesses and business analysts work to ensure the best project return possible. They ensure return not only by identifying cost savings but by ensuring there is a focus on prioritisation. This can bring more value to the project as well as uncovering new business needs that need to be taken into account to ensure the most value.
According to a KPMG study, 71% of transformation initiatives fail to reach desired outcomes due to a lack of a clear vision. Poor requirements gathering from the beginning can lead to financial loss, wasted time and frustration. Having a business analyst on board from the start can avoid any of the bottlenecks during roll-out and ensure higher rates of user adoption across the organisation.
Having a business analyst ensure communications are always kept open leading to better work efficiency and faster completion of tasks. For example, having a developer interacting with business users around lengthy requirements will prove to be quite unproductive as they may think more technically. However, a business analyst can add value here as they understand both technical and business requirements and can work closely with both business users and developers to ensure the project stays on track. Additionally, business analysts work with all stakeholders from the beginning to make sure everyone’s needs are taken into account when gathering requirements.
Continued Support and Back-Up
There are often high stakes in delivering an organisational transformative project with a reliance on technology more than ever before. If technology fails, it can be hard to continue as normal. This can not only halt a project but have a significant impact on the business. However, with a business analyst on board who has a comprehensive overview of your business, they can assess and prepare for any unforeseen changes. Business analysts can present workable solutions when problems occur which can be a much needed support when a project begins to go off-track.
If you would like to learn more about our business analysis services, download our brochure today.