How a business analyst helps your business

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Posted on: 31/05/2023

A business analyst (BA) is key to your business as they can provide invaluable insight into all aspects of your business operations, allowing you to take advantage of opportunities and avoid any pitfalls that might impede progress.

By being removed enough to be able to take a 360° impartial view, they can identify improvement areas and suggest changes that will increase efficiency or profitability. They are also well placed to recognise risks and come up with mitigation strategies that minimise losses while maximising gains.

At Tratech we ingrain ourselves into your business and work to understand the challenges you have, be that people, process or technology or a combination of all three. We use that information to help develop an accurate strategy and analytical report to help guide you to reaching your strategic goals.

Keep reading to learn more about how a business analyst helps your business, the methods they use, and more.

What does a business analyst do?

BAs are responsible for understanding, analysing, solutioning and reporting on the plethora of areas that make up your business. These professionals have a wide range of skills to dig deep into issues, create possible solutions, and suggest the most effective plan of action for your company. They are highly valuable and can provide assistance to any industry or project.

How does a business analyst help your business?

BA’s are essential in helping any business succeed as they can provide the necessary analytical insights to help inform decisions which can lead to leaner and more robust processes. They are also instrumental in helping companies develop successful strategies for growth and support in business case creation for new projects.

A business analyst will also be able to identify any areas of risk and come up with solutions which can help to maximise profits and minimise losses. By thoroughly understanding the industry, the market, customer preferences and so on, the business analyst can provide valuable insights into how your company can reach its goals.

Whether you are a start-up business looking to grow and expand, or you are implementing a new digital solution or other processes in your business; a business analyst will be able to streamline your project and plans to help make them more successful.

What are the types of methods a business analyst uses?

A business analyst will use different methods such as process mapping, customer journey mapping, data analysis, cost-benefit analysis, feasibility studies and more to assess current processes and determine how they can be improved or streamlined.

Depending on your business and project a single method or combination of several methods may be used to reach the desired goal.

Process mapping

Process mapping is setting out each stage and step taken in any internal process or procedure. It can come in many forms and is most commonly seen in the form of a flow chart.

Customer journey mapping

This is a process where a business analyst will assess the journey your customer takes when they find your business and use your services. This can help highlight how easy and streamlined your customer’s journey is and provide valuable information and feedback on where you can improve.

Cost-benefit analysis

This is where a business analyst will assess the benefits of costs to your business. It is essential that businesses do not spend unnecessary money as this can lead to unwanted and useless expenditures.

Data-analysis

Data analysis allows a deeper understanding of your customer base, industry and market position. This is done by looking at large data sets to draw conclusions which can benefit or inform the decisions you make.

A business analyst may use various methods to help you reach your goals. A skilled analyst can bring together all relevant factors to assess where your business stands and recommend strategies for success. Tratech’s experienced team can offer valuable advice for any industry or project you have in mind. By leveraging the expertise of a business analyst, you can set yourself up for success.

In short, a business analyst is essential to any organisation looking to increase efficiency, identify problems and opportunities, and make informed decisions that will benefit the company in the long term.

Understanding how a business analyst helps your company allows you to ensure you are utilising the most out of such a valuable asset.  At Tratech, we are committed to providing the highest quality and most reliable service to help you reach your business goals.

Contact us today for more information on how we can help your business succeed.