Business Analysis

3 reasons a Business Analyst is critical for business growth

01.12.2021

At its core a Business Analyst (BA) is the bridge between business ideas (it's goals and objectives) and business capabilities (how it operates). They perform important roles and responsibilities that make sense of a business s current status and then help future proof it, by identifying, creating and scoping useful changes and improvements to business processes.

 

Business Analysts use statistics and reporting to make decisions and implement recommended solutions. The use of data-driven insights focuses on improvements such as minimising the time it takes to perform particular tasks to ensuring the best use of resources. BAs are also instrumental in helping fast growing businesses manage costs and help to guarantee that a business can achieve its projected goals without going over budget.

Here are three roles a BA can play in a growing business.

1.Ensure Business Continuity
The driving philosophy of a BA is to take a strategic holistic approach and understand the structure and dynamic of not only the business but also the industry in which it operates. An analysis to understand workflow, positioning, competency etc can help design processes that ensure efficiencies and continuity as a business scales.

A BA creates frameworks to capture and interpret strategy correctly to help make quick informed decisions.

2.Identify problems and find solutions
Through a strong combination of analysis and strategy a BA can identify existing problems within business operations, articulate the need for certain changes and find tailor-made solutions.
Through their holistic approach a good BA will be able to identify and predict business-impacting changes and create data-driven strategies for adaption, growth and to drive efficiencies

3.Uncover growth opportunities
A BA can identify potential improvements in processes that will streamline business operations and insights to help a business achieve their aggressive growth targets. This involves an industry/sector analysis to find growth areas along with an existing business strategy/operations analysis to find the gaps and uncover new opportunities. A BA will then develop cost-effective solutions to bridge these gaps and help to implement them through effective training and onboarding.

The role of a BA has grown in importance over the last five years, as businesses continue to realise the value of data-driven decision-making. A good BA will help businesses drive growth and efficiencies whilst reducing costs and errors.

About the Author

Angela is currently working with Active Directions as a business analyst within the Finance Industry where she is helping the management team drive the strategy execution.

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