What is a business analysis?

There can be many costs involved in creating, running and maintaining your business. With so much involvement in the day-to-day upkeep, it can be difficult to see how you can run things more smoothly or where you can improve on your operations. This is where business analysis comes in.

Analysing a business involves a specific set of activities, which allows owners and stakeholders to look objectively at the needs of an organisation, its problems and most importantly, find solutions for it, very often before its too late.

Business analysis examines the processes of a business and sets about implementing change that will streamline the infrastructure of a company. In turn, this will add value to a company, as they change processes that are not working and analyse ways that work can be done more effectively.

Do only large businesses need business analysis?

It is a myth that only large businesses can make use of a analyst. Whether it is a government organisation, not-for-profit or a for-profit business, all will benefit from the work of a business analyst.

For a very large organisation, an in-house analyst may be more useful, as the company operates on a larger scale in terms of turnover, project scope, clients and finance.

Can’t I just be my own business analyst?

Business analysis is best performed by an outside individual. Why?

• an expert has a set of skills
• your company will be viewed objectively, from an unbiased perspective
• you are free to begin to implement change, rather than strategise it

I can’t afford a business analyst

It is an even bigger myth that business analysis must be a costly process. In fact, you can obtain a free analysis for your business. Often, your initial report will provide you with vital changes that can be implemented quickly and will show you where you may have strayed from the initial vision and mission of your business. The choice to then invest more time into implementing the recommendations from the business analysis is completely left to you.

Why not make it a goal to have your business analysed and implement change for the better?