Tag: Best Practices

Transformative Impact of AI in Business Analysis

Written by Lalita Lalwani on August 9, 2023. Posted in Articles.

Integration of AI’s transformative potential into our analysis processes can unleash human potential, drive innovation, and foster a culture of continuous improvement. The future belongs to those who embrace AI in business analysis, and the time to seize this unparalleled opportunity is now. So, let’s take the leap together and unlock new horizons of success with AI as our ally.

The Fourth Industrial Revolution has ushered in a new era of technological innovation, and at the forefront of this revolution is Artificial Intelligence (AI). In the world of business analysis, AI has transcended its role as a buzzword and has become a game-changer in driving business growth and efficiency. AI has emerged as a powerful ally, empowering organizations to harness data-driven insights, streamline operations, and make more informed decisions.

Embracing AI in business analysis is no longer a choice but a strategic imperative for companies looking to gain a competitive edge and thrive in today’s dynamic marketplace. Let’s delve into the transformative impact of AI in business analysis and understand how organizations can leverage this cutting-edge technology to unlock new horizons of success.

The Power of Data-Driven Insights

At the heart of business analysis lies data, and the ability to extract meaningful insights from vast datasets can make or break an organization’s success. AI-driven analytics tools have revolutionized this process by processing large volumes of data at unparalleled speeds and advanced algorithms to provide real-time, data-driven insights. By employing machine learning algorithms, AI can identify patterns, trends, and correlations that may remain hidden from traditional analysis methods.

With AI-powered data analysis, businesses gain a deeper understanding of their customers, markets, and industry dynamics. This data-driven approach empowers decision-makers to make well-informed decisions promptly, minimizing risks and optimizing opportunities. Organizations can harness a more comprehensive understanding of their markets, customers, and competitors, optimizing their marketing strategies, fine-tuning product offerings, identify emerging market trends, driving innovation, growth, competitiveness, and profitability.

Automation: Unleashing Human Potential

Business analysts are often burdened with repetitive and time-consuming tasks, leaving little room for strategic thinking. AI automation can alleviate this burden, liberating analysts from mundane activities and allowing them to focus on higher-value initiatives that require creativity, critical thinking, and strategic planning.

AI-powered automation can handle data collection, data cleaning, report generation, and even predictive modeling. As a result, business analysts can dedicate more time to interpreting results, formulating strategic plans, and collaborating cross-functionally. This not only enhances productivity but also fosters a culture of innovation within the organization.

Personalizing Customer Experiences

In an era where customer experience reigns supreme, personalization has become a key differentiator for businesses. AI plays a pivotal role in this domain by enabling businesses to personalize interactions with customers. Leveraging AI-driven analysis, organizations can understand individual customer preferences, behaviours, needs, and engagement patterns to segment customers. This enables businesses to hyper-personalized product recommendations and tailored marketing campaigns to individual customers.

By delivering personalized experiences, businesses can foster increased customer loyalty, satisfaction, ultimately leading to increased revenue and brand advocacy.

Predictive Analytics: Anticipating the Future

Traditional business analysis often focuses on historical data, providing a retrospective view of performance. However, in today’s fast-paced business environment, organizations must be forward-thinking and anticipate future trends and challenges. AI-driven predictive analytics enables just that. By analysing historical data, market trends, and external factors through sophisticated predictive models, AI can forecast future trends, demand patterns, identify potential risks, and anticipate changing customer preferences empowering organizations to make proactive decisions.

Armed with these insights, businesses can proactively adapt their strategies, pre-emptively address challenges, seize new opportunities as they arise and can stay ahead of the curve and gaining a competitive edge.

Improving Fraud Detection and Risk Management

In an increasingly interconnected world and increasing digitization of business processes, cybersecurity threats and fraudulent activities have become major concerns for organizations. AI excels in detecting anomalies and patterns indicative of fraudulent activities. AI-driven fraud detection models can learn from historical data to identify suspicious patterns and flag potential fraudulent transactions promptly.

Additionally, AI-powered risk management tools can assess and mitigate risks, helping businesses safeguard their assets and maintain trust with customers and stakeholders.

Conclusion: Unlocking New Horizons of Success

Embracing AI in business analysis is no longer an option; it’s a necessity for organizations that aspire to thrive in today’s dynamic market. From data-driven decision-making and process automation to personalized customer experiences and predictive analytics, AI’s impact on business analysis is undeniable.

As business analysts and leaders, embracing AI unlocks new horizons of success, driving growth, innovation, and efficiency. It’s time to seize the transformative power of AI and shape the future of our businesses with confidence and enthusiasm. So, let us embark on this exciting journey of AI-driven business analysis and embark on a path of unrivalled success.

Best of BATimes: 10 Steps to Transition from Your Current Job to an Amazing BA Career

Written by Ananya Pani on August 3, 2023. Posted in Articles.

Over the years, professionals wanting to pursue a career in business analysis have been seeking my advice.

A few of the questions posed to me:

“How do I launch my career as a business analyst?”
“How do I switch over to BA role? “
“Is it possible to move to a business analyst position for someone working as a sales engineer?”
“Is it possible to become a business analyst without having BA experience?”
“How can I take up a career as a business analyst? I am currently working in freight forwarding and operations.”
“I’m working as a software developer since last 3 years and planning to change my career to be a business analyst. Where should I start from?”
“Can I become a business analyst after BBA?”

My response to them is that in the field of business analysis, business experience, no matter how inconsequential it may seem, counts. This is because Business Analysis is not restricted to a particular field but in most cases, cuts across diverse fields.

If you are a self-motivated professional with strong analytical skill, have excellent written and verbal communication skills plus the ability to work well with employees at all levels of an organization, a business analyst position is a great fit for you.

Business Analysis is one of the fastest-growing professions with an all-time high growth rate of 14%, while the average growth of any profession is 5%, as per the US Bureau of labor statistics.

Here’s a data insight from SEEK on the job opportunities for BAs and how the job market is trending:

Business Analysis is a career which is filled with a good balance and proportion of leadership skills along with technology exposure. It makes one step out of their comfort zone and realize their full potential while performing the role. It’s challenging as well as rewarding at the same time. This is one of the careers that puts one to a High Growth Path Leading to a C Suite Role.

Business Analyst is a role where one can contribute to the organization’s strategy, its offerings, its revenue, and its margin. A ‘Business Analyst’ helps the business to grow and become more efficient, organized, and more successful.

Business analysts, understand the problems and goals of an enterprise, analyze needs and solutions, devise change strategies, drive change, collaborate with stakeholders and also advise organizations on improving efficiency, finances, and various other aspects of business.

A business analyst works in a multifaceted world. In order to meet all the business needs a business analyst has to act as a mediator, moderator, facilitator, connector, and ambassador. They are the bridge that fills in the gap between each department throughout every step of development. Business analysts must be great verbal and written communicators, tactful diplomats, problem solvers, thinkers, and analyzers – with the ability to engage with stakeholders to understand and respond to their needs in rapidly changing business environments.

In short, a BA is the backbone of the growth and advancement of the organization.

The image below talks about a few professions from where it is easier to foray into the business analyst profession.

Having said this, crossing over to the land of business analysis demands you to learn and hone new skills and tools.

So, here are some steps, that will help a professional to carve the path to a successful and rewarding business analysis career

1. Learn the basics of business

The very first step to understand is how businesses run and what they do. One also needs to have a good background of the various functions of the organization and how directly/indirectly serve the internal as well as external customers. A good starting point would be to go through the generic process classification framework provided by APQC. You can download the free personal version of the APQC process classification framework from the APQC. It also would be a good idea to read up basic books on business strategy, marketing, finance, HR, and operations.

2. Learn the business analysis process

Like any other activity, Business Analysis also follows a process. The best resource, which is available free, is the Business Analysis Core Standard from IIBA. It is a fairly short document of about 50 pages but is very informative. It will give you a good idea about how business analysis is actually performed.

3. Develop behavioral skills

As a business analyst, one must learn how to interact with a sponsor, Domain SME, End users, and all other business-side stakeholders including suppliers. This requires honing one’s skills in behavioral aspects. Key skills for business analysis are communication, stakeholder interaction, active listening skills, facilitation, conflict resolution, creative thinking, etc.
Behavioral skills are very essential for a BA and the best way to hone these skills is to practice it extensively.

4. Learn requirements modeling tools and management tools

Business analysts use many tools as part of their work. Some of the popular tools are business process modeling, state modeling, and use case modeling. Download the trial version of Microsoft Visio. This tool is very popular with most organizations. You can also learn other free tools such as Lucid chart, BizAgi Business process modeler.

Here’s an opportunity to access BA books and tools to practice- https://www.adaptiveus.com/adaptive-inner-circle/.

Image curtsey: MCAL Global

5. Learn the domain of the organization/domain of your interest

There are good resources available on the internet almost on all domains and maybe within your own organization. Another good advice we suggest is to look for a handbook on your domain. For example, if you are in the retail domain, look for a book by the name Handbook of retail. Go through the handbook, you will get a fairly good idea about how retail domain functions. When you understand your domain and you understand your organization, your stakeholders’ acceptance for you as a business analyst will increase manifold.

6. Participate in professional groups, conferences on business analysis

There are many professional groups, virtual and physical conferences on business analysis. Participate in these events to understand how business analysis is changing, what are the trends in business analysis and how you can bring new business analysis concepts to your organization.
Become an IIBA member, join their events, volunteer for the local events and chapters. This not only opens new doors for you but also expands your professional network and experience.

7. Use stepping stones: Explore roles which are gateways to business analysis

Find mid-position careers between your current job and the job of a business analyst. Roles such as business process analyst, reporting analyst, customer support analyst – such roles teach you certain aspects of business and make you ready to be BA. Keep taking small jumps – in a few years, you will find yourself in your dream role.

8. Get yourself certified

Along with a degree and experience, getting a Business Analyst certification carries a lot of weight with organizations and also helps the candidate to acquire the requisite knowledge and meet their professional goal. Certification can improve overall performance, remove uncertainty, and widen market opportunities. A certified business analyst has a broader perspective of the BA techniques and approaches. It also shows commitment, as preparing for these certifications and clearing the exam is not an easy task. Organizations also recognize individuals for the hard work and commitment which the candidate has put into it.

For those who are making a foray into the business analysis domain, ECBA certification from IIBA is a good choice. ECBA not only gives a rock-solid foundation for getting into the BA profession but also helps with global certification. The ECBA certification does not call for any eligibility criteria in terms of education and covers aspects related to requirements elicitation, requirements analysis, and management, stakeholder management, techniques used by BAs, etc.

It is strongly recommended that you undergo proper training from a seasoned BA coach. This will help increase your chances of passing in the very first attempt and in the shortest possible time. My organization Adaptive US (adaptiveus.com) is an EEP with IIBA and has helped scores of professionals get ECBA certified and step into a successful BA career.

For more details- ECBA Training

9. Start from within your organization

Upon completing the training and certification, you can utilize your newfound learning and experience in your industry/domain to start looking for opportunities within your current organization.

The first thing to do will be to look for possibilities for an internal transfer. Discuss your career goals with your manager and seek opportunities to practice BA skills/techniques. Show interest, gather knowledge, and be proactively involved in the requirements gathering and documentation process. Shadowing the business analyst for a particular project in your organization would allow you to practice the concepts that you have learned.

If finding an opportunity with the current organization is not possible, you could update your resume accordingly to highlight your ‘functional knowledge’ in your industry/domain, along with your certification details. Showcase how your past experience qualifies you for business analysis roles and how your profile is enhanced with the ECBA training and certification you have completed.

10. Learn to network and leverage it

If you wish to climb higher in your career, you need the right push. Sometimes, this push comes from those you are surrounded with. Surround yourself with like-minded people who are experts or passionate about their BA jobs, learn from their experiences, share your thoughts and ideas, identify opportunities and devise strategies on how you can advance in your career.

Many times, we are limited by our mindset and comfort zone to switch careers, which prevents us from utilizing our full potential. Our minds get overwhelmed with “What-ifs” and we stay stuck in situations, which we want to overcome. However, there have been professionals who have shown the grit to change, took action in the right direction, and worked their way to reach where they wanted to. What is inspiring is that they have been very successful too.

A good business analyst is one of the best assets that an organization can have. Having a good and competent BA in the organization is like finding a pot of gold at the end of a rainbow.

So, plan ahead, learn & hone the skills needed and forge your way ahead with one of the fastest-growing and exciting professions.

Published on: 2020/11/04

Embracing AI in Business Analysis: A Guide for BAs

Written by Arunabh Satpathy on July 26, 2023. Posted in Articles.

Artificial Intelligence in business analysis is fast becoming the next big evolution of the BA practice. It acts as a superpower to enhance decision-making, automate repetitive tasks, free up time for strategic work.

BAs add value to organizations that AI cannot replace, like problem-solving, critical thinking, communication, and collaboration. But with increasing competition in companies, BAs can use an assistant like artificial intelligence to do more with less. This article covers the growing influence of AI in business analysis and how you can thrive as a business analyst in the age of generative AI.

AI in Business Analysis: A Growing Field

Business analytics powered by AI can detect patterns, anomalies, and deviations and raises them for review by business analysts.

Business analysts are embracing AI/ML tools to make more informed decisions and improve their competitive advantage. Tools like Tableau, Power BI, and others increasingly have a significant AI component

BA coaches have also begun thinking and producing content on how to use AI tools like ChatGPT for business analysis.

The growth of AI tools has also led to an increasing push for human oversight over AI. For instance, the European Commission has proposed a regulation the stipulates how high-risk AI systems like facial recognition algorithms should be created with human oversight in the loop.

Developing regulations like these will affect downstream industries like business analysis in due time.

AI-enhanced Business Analysts

The most beneficial way to deal with the rise of AI is to enhance your existing skill set using it. Generative AI tools can also lead to happier and more productive workers.

Here are some ways you can adapt to the changing reality:

Know your Core BA Skills

As recently as May 2023, Forbes recognized six core business analysis skills:

Analysis: Parsing large amounts of complex data and recommending solutions.
Communication: Active listening and clear delivery of data in verbal and written form.
Interpersonal: Working effectively with stakeholders and teams within client organizations.
Problem-solving: Creative solving of unique client issues.
Time Management: Prioritizing tasks and getting the job done quickly.

AI can do parts of these tasks for you, but none fully. For instance, an AI-based requirements management tool can help you analyze and write requirements based on raw data, but only with your approval. But it fails at active listening, stakeholder engagement, or creative problem solving.

Without human oversight, AI can be ineffective or even counterproductive. Business analysts can excel through expert management of AI tools and ensure that AIs output aligns with the goals of the organization.

Another core skill that AIs cannot compete is an up-to-date understanding of the industry. BAs with domain knowledge can spot problems and suggest fixes before a project reaches the development team. They have the knowledge and connections to understand market conditions and protocols beyond what is available on AI databases.

Strategies for developing industry domain expertise include:

Researching the history, current situation, and prospects of the industry.
Learning market-specific protocols. For example, ASPICE is a key automotive regulation.
Competitive analysis.
Asking questions to other domain experts.

Enhance Your Data Management and Analysis Skills

According to Peter Sondergaard, the SVP and Global Head of Research at Gartner, “Information is the oil of the 21st century, and analytics is the combustion engine.” Analytical skills help BAs generate high quality outcomes that meet business needs.

In practical terms, you need to have a combination of the following data analytics skills to position you as a high-value and competitive BA candidate:

Data Literacy: Familiarity with data language, types, sources, and analytical tools.
Data Collection: Knowing how to collect unbiased and reliable data through various methods.
Statistical Analysis: Knowing statistical terms and techniques like hypothesis testing, linear regression, and p-values to extract insights.
Data Visualization: Presenting data honestly to communicate insights.

Learn to Work with AI Tools

A recent survey by Gartner showed that 70 percent of U.S. workers want to use AI to reduce some common tiresome and repetitive tasks.

The top task that workers hoped AI would automate is data processing. The demands of a business analyst already include many of these tasks and will do so in the future. Here’s how BAs can leverage AI tools for data processing:

Integration: Building “master lists” of data, like merging lists while retaining their integrity.
Classification: collecting, extracting, and structuring data from documents, photos, audio, video, and other media.
Cataloging: Organizing, cleaning, and retrieving data. SQL is already a key skill for data retrieval and OpenRefine helps with basic data cleaning.
Quality: Reducing errors, contradictions, or low quality in databases or requirements authoring.
Security: Keeping data safe from bad actors.
Compliance: Adhering to relevant industry-based or national compliance standards. E.g. ASPICE for automotive.

BAs should also learn how to interact with AI tools. Some tools have button-based interfaces, but others like ChatGPT use prompts. Engineer ing prompts will itself become a skill not dissimilar to making SQL queries. The right query may be the difference between an important insight and a dead end.

This collaborative approach to AI in business analysis will help increase the efficiency and effectiveness of the entire organization. The MIT Sloan Management Review and Boston Consulting Group’s global executive survey found that companies combining AI and human abilities are best positioned to succeed.

These days, many tools help boost the productivity of BAs. Some staples like Tableau and Power BI have into their legacy offerings. Others have leveraged the to analyze, write, rewrite, and suggest requirements.

Adapt to Changing Roles and Responsibilities

Beyond working with AI tools, BAs will have to adapt and expand their skill sets to market realities. BAs can stay on top of things by:

Keeping up with cutting-edge technologies like blockchain, digital trust, and artificial intelligence.
Asking better questions about business needs, technology needs, and stakeholder satisfaction.
Considering hybrid roles that combine BA skills with related fields like statistics, data analysis, project management, and UX.
Enhancing soft skills. BAs who communication, critical thinking, negotiation, and collaboration skills can adapt and thrive in any environment.

The Future of Business Analysis is Bright

The fundamental role of the business analyst will be no less relevant in the near future. Somebody has to perform crucial tasks like business processes evaluation, problem identification, and more. Embracing the paradigm of new AI tools will only increase the productivity of BAs. Combined with their core BA toolkit, domain expertise, fluency in data management, and soft skills, business analysts can thrive and drive the success of their companies in the 2020s and beyond.

Source: AI in Employee Engagement: 7 Applications to Try Yourself | Zavvy [AS1] [AS1]

https://www.statista.com/chart/27127/tasks-us-workers-want-ai-to-take-over/ [AS2]

Be Bold: If You Disagree, Leave Them In No Doubt

Written by Adrian Reed on July 5, 2023. Posted in Articles.

Very early in my career, I was probably a bit too much of a ‘people pleaser’ which led to me shying away from conflict. It’s a common trait in BAs, we want to help people out, and we want to get them the best possible outcomes. This is a positive thing, but when over-played it can spill over into conflict avoidance, and this really isn’t a good thing.

For example, imagine a stakeholder requests a new feature, but there’s clearly no time or budget for it. It would be very easy to say something along the lines of:

“Ah, yes, that’s really interesting. I’ll see if that’s possible and come back to you if it is”

Now, on the face of it no commitment has been made, the BA might consider they’ve said “no”, but it’s a very, very weak no. The stakeholder may well have heard things differently, and might have drawn the conclusion that the feature will be delivered, after all, they didn’t hear the word ‘no’ at all! In three months’ time, when memories have faded, they may well ask you why the feature they asked for still isn’t delivered…

Conflict Avoidance Isn’t Friendly

Avoiding conflict might seem like a good tactic, but it really only works in the short term. When disagreement is communicated in a subtle way, it’s easy for there to be a sort of illusory agreement. Stakeholder A disagrees with Stakeholder B but they think they are agreeing. Of course, eventually they’ll find out that they didn’t agree… but by that time budget and time may have been spent unnecessarily.

This is an area where BAs can add huge value. Firstly, by being bold and concisely stating when something is outside of scope or can’t be delivered in a particular timeframe. This doesn’t mean it can’t be delivered… it just means that a conscious choice needs to be made. There might be a trade-off, by having feature X, it means that feature Y will be delayed or discarded. Or perhaps it means that there needs to be a discussion over the budget.

All of these decisions are best made consciously. A little bit of discomfort now, followed by an honest and transparent conversation is likely better than taking the easy route and saving up the consequences for later. You might be familiar with the concept of technical debt… well this is similar, it is almost a form of decision and conversational debt. By having illusory agreement over things, the decision is never really made, and an absence of decision creates issues.

Cultural Dimensions

Of course, it’s important to take national culture and corporate culture into account when considering how to respond to conflict. I can only speak as someone who has spent most of their time in the UK. I certainly know that in the UK we are fairly indirect communicators at the best of time (“Oh I’m very thirsty” can be code for “I’d like a drink please, but I can’t ask directly because that would be seen as impolite”. Equally “Hmm.. .interesting” can sometimes mean “I have zero interest in what you are saying”. We are a complicated nation!).

There are certainly other cultures where different types of response will be more appropriate, so it is all very much down to the context. One thing that is common though is conflict is best negotiated openly and honestly, and pretending it doesn’t exist is unlikely to lead to the best possible results.

Conflict Doesn’t Have To Be Negative

There is perhaps a view that conflict is inherently negative, yet that doesn’t have to be the case. Often conflict arises because different people have different backgrounds and perspectives. As BAs, we can explore those perspectives and understand the specific areas where they agree and disagree. We can work with them to navigate the conflict, and reach a situation that they are happy with.

In many ways, if there are conflicting views, it is usually better if they are surfaced earlier rather than later. If someone disagrees but doesn’t feel able to raise the issue, then this may indicate that they feel uncomfortable. Perhaps psychological safety is lacking. Either way, this may indicate wider issues with the organizational culture, and may mean that dissenting voices are being quashed. Which can be an issue if one (or many) of those voices are right!

Lead by Example

This is an area where BAs can lead by example, by being bold and sometimes vulnerable, by asking ‘tricky’ questions and being open and honest when we think something isn’t right. It’s also important to be prepared to change our minds when new information presents itself. All of this relies on building good rapport with stakeholders, which is a key BA skill in itself!

The Importance of Benefits Realization

Written by Giorgos Sioutzos on June 29, 2023. Posted in Articles.

As a business analyst you are not done your job after the deployment of the solution. Although, having the solution up and running is a critical milestone it’s not time to party yet. It’s like medical surgery. Even though the surgery itself may be successful it is more than important the patients life to be improved and the expected benefits that are the answer to why this surgery should be done, to be realized after the surgery.

Monitoring the solution benefits and interpreting thoughtfully the feedback of the customers is crucial in order to be sure that the benefits of the solution are fully perceived and also that they are sustained. Benefit recipients should experience the stated benefits and also be ensured that those benefits will be sustained from the implemented change over the long-term. In many projects the effort that is done in the period after implementation activities is not enough to ensure the delivery of the claimed benefits as well as the maintenance of the benefits in the long term.

Below are some points that could help you navigate in the after-deployment period:

Feel the pulse of the customer

Be open to feedback and try to listen to the voice of the customers. Do not underestimate the feedback from any source. Even an inexperienced user may reveal critical improvement issues for the benefits realization. Filter the feedback in order to find technical and non-technical groups of issues. For example, a repeated concern of the user may be due to the lack of training and proper user manual, due to a non-functional requirement that is not met or due to a bug existing in the functional area of the solution.

Prioritize the actions

It is crucial to prioritize the improvement actions. Some bugs fixing may be in first priority as they have a detrimental effect in the overall experience. Or an updated user manual and video of navigating the users in using effectively the solution may be number one priority in order to full realization of benefits to take place. A specific prioritization approach may be existing and agreed up at the initiation of the project. However, as nothing is more stable than change you probably need to revisit and update frequently the approach to prioritization.

Be ready for Organizational Change

A new solution that is deployed is a change. Appropriate change management is required to ensure the full exploitation of the solution. New processes and polices may need to be established in order to maximize the value. Changing the way of working that existed for years may be challenging. Many times, a new solution is a trigger for a culture shift in an organization. As a business analyst you need to be aware of such required changes and propose solutions that will contribute towards the

It is common for the delivery team to complete the implementation activities, deliver the initial benefits to the customer and just close down the project. This is not suggested. Benefits realization most of the time is not one and done process. There are always activities that need to be performed on an ongoing basis to ensure the solution developed stays in shape.