Business Analysis includes strategy analysis, business process management, business-technology-management i.e. analyzing business (using business analysis process and business analysis techniques) and identifying solution for better business with or without using IT.
Business Strategy Analysis: Analyst with business background can go for strategy analysis part of business analysis and work closely with business stakeholders. Strategy Analysis will include, but not limited to identifying business need (problem or opportunity) and recommend the solution to achieve organization’s goal. The organization goal could to taking care of exiting problem, or improving existing business or clutching new opportunity to expand business.
Business Technology Analysis: Analyst with technology background can go for system/technology analysis part of business analysis work closely with technology team. Business / System analysis will include, but not limited to analysis the solution requirements (capability and conditions of solutions or Functional and non-functional requirements) to ensure that the future solution meets the problem or opportunity mentioned in business need document.
Opportunities: There is tremendous opportunity in every sector as every organization strives to improve their business (product, services, operations technology and so on…) to remain competitive or to create competitive edge or new create a business (for example Facebook, a networking was a new/emerging business just a decade ago…)
The need for business analysis will increase for following reasons:
• The increase in complexity in technology with new innovation technology will have highly sophisticated solutions.
• The increase in complexity and competition in business will have larger scope for strategy analysis, one part of business analysis.
• Dynamic business environment where change is not only accepted, but also accepted at the speed of light
• A dramatic change in traditional to technology focus business with technology savvy new generations will experience new business opportunities that were never thought of…and many more…
This is one of the reasons why many universities in UK and USA have started offering full-fledged courses in either in business analysis or business technology management. Although IEEE, USA is pioneer in setting the standards for IT industry, recently many professional institutions such as IIBA from Canada, PMI from USA, BCS from UK and IREB from Germany and more are working towards improving the quality and setting new standards for this field.
There are few institutions involved in setting standards in business process management.
Most of the institutes offer certification program suitable for business analysis professionals and also support industry to create center of excellence.
All industries need business analysis as every industry and every company will need business technology optimisation and management throughout their life-cycle.
Following is the partial list of industries and functions who will extensively use the business analysis for their day-to-day business operations.