Business analysis' 'Business Analysis as a practice helps facilitate change in an organization by defining business needs (problems or opportunities) in collaboration with its stakeholders through strategy analysis and requirement engineering (planning, elicitation, analysis, management, and validation). The recommended solution could be an IT or non-IT, minor or humongous and customized or off-the-shelf product.'  Alternatively, Business Analysis'' is a research discipline of identifying business needs and determining solutions to business problems. Solutions often include a software-systems development component, but may also consist of process improvement, organizational change or strategic planning and policy development. The person who carries out this task is called a business analyst or BA.
'In addition to the above-mentioned factors, to analyze the current-state, the business analyst will have to study the products, services, operations (how products/services are delivered to the customer, how policies, and regulations, including internal and external regulations, affect the operations, etc.) and business needs. While recommending a solution, the business analyst will have to synthesize the market data before defining future-state. This ensures that the potential solution is suitable for current and future needs.  Business analysts do not work solely on developing software systems. Those who attempt to do so run the risk of developing an incomplete solution.
Although there are different role definitions, depending upon the organization, there does seem to be an area of common ground where most business analysts work. The responsibilities appear to be:
In line with this, the core business analyst role could be defined as an internal consultancy role that has the responsibility for investigating business situations, identifying and evaluating options for improving business systems, defining requirements and ensuring the effective use of information systems in meeting the needs of the business.
Business analysis as a discipline includes strategy analysis, requirements analysis(sometimes also called requirements engineering), future state description (this is also known as future operating model. However, future state description includes future operating model as well as other details such as organizational capabilities, Organizational structure. It focuses on ensuring the changes made to an organisation are aligned with its strategic goals. These changes include changes to strategies, structures, policies, business rules, processes, and information systems.
Examples of business analysis includes:
Focuses on understanding the needs of the business as a whole, its strategic direction, and identifying initiatives that will allow a business to meet those strategic goals. It also includes:
Involves planning the requirements development process, determining which requirements are the highest priority for implementation, and managing change.
Describes techniques for collecting requirements from stakeholders in a project. Techniques for requirements elicitation include:
Describes how to develop and specify requirements in enough detail to allow them to be successfully implemented by a project team.
The major forms of analysis are:
Requirements documentation can take several forms:
Describes techniques for ensuring that stakeholders have a shared understanding of the requirements and how they will be implemented.
Describes how the business analyst can perform correctness of a proposed solution, how to support the implementation of a solution, and how to assess possible shortcomings in the implementation.
There are over 100 business techniques that a business analyst can select when facilitating the business change. These are categorized as strategic, investigative, analytical, project management, documentation and modeling techniques.
As the scope of business analysis is very wide, there has been a tendency for business analysts to specialize in one of the three sets of activities which constitute the scope of business analysis, the primary role for business analysts is to identify business needs and provide solutions to business problems these are done as being a part of following set of activities.
This solutions could be small such as changes to existing process or system. It could be organization wide change such as adopting new operational excellence or implementing organization wide system or changes to organizational policies.
In any case, the term "analyst" is lately considered somewhat misleading, insofar as analysts (i.e. problem investigators) also do design work (solution definers).
The key responsibility areas of a business analyst are to collate client's software requirements, understand and analyze them further a business perspective. Business Analyst is required to collaborate with the business and assist them in improvising their processes and operational discipline followed.
The role of business analysis can exist in a variety of structures within an organizational framework. Because Business Analysts typically act as a liaison between the business and technology functions of a company, the role can be often successful either aligned to a line of business, within IT or sometimes both.
A practice management team provides a framework by which all business analysts in an organization conduct their work, usually consisting of processes, procedures, templates and best practices. In addition to providing guidelines and deliverables, it also provides a forum to focus on continuous improvement for the business analysis function.
Ultimately, business analysis wants to achieve the following outcomes:
One way to assess these goals is to measure the return on investment (ROI) for all projects. According to Forrester Research, more than $100 billion is spent annually in the U.S. on custom and internally developed software projects. For all of these software development projects, keeping accurate data is important and business leaders are constantly asking for the return or ROI on a proposed project or at the conclusion of an active project. However, asking for the ROI without sufficient data of where value is created or destroyed may result with inaccurate projections.
Project delays are costly in several ways:
N.B. On a lot of projects (particularly larger ones) the project manager is the one responsible for ensuring that a project is completed on time. The BA's job is more to ensure that if a project is not completed on time then at least the highest priority requirements are met.
Business analysts want to make sure that they define the requirements in a way that meets the business needs, for example, in IT applications the requirements need to meet end-users' needs. Essentially, they want to define the right application. This means that they must document the right requirements through listening carefully to 'customer' feedback, and by delivering a complete set of clear requirements to the technical architects and coders who will write the program. If a business analyst has limited tools or skills to help him elicit the right requirements, then the chances are fairly high that he will end up documenting requirements that will not be used or that will need to be re-written - resulting in rework as discussed below. The time wasted to document unnecessary requirements not only impacts the business analyst, it also impacts the rest of the development cycle. Coders need to generate application code to perform these unnecessary requirements and testers need to make sure that the wanted features actually work as documented and coded. Experts estimate that 10% to 40% of the features in new software applications are unnecessary or go unused. Being able to reduce the amount of these extra features by even one-third can result in significant savings. An approach of minimalism or "Keep it Simple" and minimum technology supports a reduced cost number for the end result and on going maintenance of the implemented solution.
Efficiency can be achieved in two ways: by reducing rework and by shortening project length.
Rework is a common industry headache and it has become so common at many organizations that it is often built into project budgets and time lines. It generally refers to extra work needed in a project to fix errors due to incomplete or missing requirements and can impact the entire software development process from definition to coding and testing. The need for rework can be reduced by ensuring that the requirements gathering and definition processes are thorough and by ensuring that the business and technical members of a project are involved in these processes from an early stage.
Shortening project length presents two potential benefits. For every month that a project can be shortened, project resource costs can be diverted to other projects. This can lead to savings on the current project and lead to earlier start times of future projects (thus increasing revenue potential).
An aspiring business analyst can opt for academic or professional education. Several leading universities in the US and UK offer master's degrees, with a major in either Business Analysis, Process Management or Business Transformation.
There are many universities offer bachelors or masters degree in Business Analysis, and some of them are as mentioned below:
Master of Science (MSc) in Business Analysis 
Master of Professional Business Analysis 
BBA in Business Analysis 
The three most widely recognised Business Analysis Qualifications are:
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