7 Different Business Analysis Techniques for a Smart Company

9 min read
Comments Off on 7 Different Business Analysis Techniques for a Smart Company
0

Every successful business is burdened with the task of always finding ways to improve. Analyzing your business gets you to look at things objectively which allows you to make smart, strategic changes. Using business analysis techniques to your advantage will allow you to better position your company for future growth.

Check out the following 7 different business analysis techniques you can use to improve your company:

1. Activity Diagrams

Activity diagrams are one of the best business analysis techniques to visualize the steps involved in customer processes or internal operations. An activity diagram describes what needs to happen in a system to get the desired results. This is a great way to map out how customers interact with your company and find ways to improve your service.

Activity diagrams are usually used to communicate how a company operates to stakeholders and senior executives. You can use an activity diagram to map out the customer process for logging into your website or buying one of your products. You can also use activity diagrams for something like receiving shipments to find areas where you can cut out unnecessary steps.

2. Roadmaps

Roadmaps are an important business analysis technique for any company trying to launch a product from scratch. Roadmaps are laser-focused on the evolution of a product and its features. This is an example of a powerful tool you can use to ensure your product addresses issues that add direct value to your customers.

Roadmaps are a powerful tool you can use to help your sales and development departments stay on the same page. This is one of the most used business analyst techniques thanks to the versatility of roadmaps. You can use roadmaps to plan how you’ll launch future products, to address your customer support system or to clearly outline how your team will handle maintenance and errors.

3. Organizational Charts

Anytime your company is dealing with a lot of data and a large staff; organizational charts are essential to help manage the flow of information. Organizational charts are great business analysis techniques to help you outline the hierarchy of your business, or of a single department within your business. This is a tool that will help your employees understand how information is supposed to flow in the company and who their key contacts should be for projects.

Organizational charts can help you divide the functions of your company which will prevent a select few employees from being overloaded with work. By making everyone’s roles clear, it’s easy to find incompetencies in your system and offer specific training to remedy the situation. Working within the structure of your organizational chart will also better prepare your employees for an eventual promotion.

4. Business Process Model

Business process modeling can be a powerful tool to take your company to the next level. After identifying 1 or 2 key processes within your business, it’s important to refine them as much as possible so your business can become more efficient. Business process modeling uses diagrams to represent the flow of information and decisions for a specific process in your company. These types of models are a great way to add a visual representation to complex processes that are essential to your business’s success.

Business process modeling is an excellent way to logically spell out how certain operations should be executed by your staff. Your model will show how each position works together to achieve the desired outcome. Creating a visual element for your most important processes is a great way to speed up training new employees or to implement new processes.

5. Data Modeling

Finding ways to streamline how you organize your data is an essential part of your company’s growth. Data modeling involves defining what, how and where data is stored and used.

Using this business analysis technique helps create continuity between internal processes and the data that’s given to shareholders. Data modeling also helps you understand how certain data segments relate to each other by looking at the common attributes they share.

6. Brainstorming

While many people are familiar with brainstorming, it’s still an underrated technique for coming up with solutions. Anytime you require an injection of creativity; brainstorming is the way to go.

This is a great business analysis technique for generating ideas, identifying the root cause of issues and coming up with solutions to existing problems. Brainstorming also enhances the effectiveness of other business analysis techniques.

7. Requirement Analysts

Executing a requirement analysis is a step many companies tend to forget. Without taking the time to analyze your resources, you can end up under-equipping your team. If your staff doesn’t have the tools to get the job done properly, your company ends up bleeding time and money. Anytime a solution is proposed, a requirement analysis needs to follow before taking action. During this analysis, you also have the chance to determine user expectations and adjust your operation to meet them.

Load More By Jenny
Comments are closed.