Goal of Business Analysis
Ultimately, business analysis want to achieve the following outcomes:
- Create solutions
- Give enough tools for robust project management
- Improve efficiency and reduce waste
- Provide essential documentation, like requirements document, project initiation documents and others.
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.
Read more about this topic: Business Analysis
Famous quotes containing the words goal of, goal, business and/or analysis:
“The legend of Felix is ended, the toiling of Felix is done;
The Master has paid him his wages, the goal of his journey is won;
He rests, but he never is idle; a thousand years pass like a day,
In the glad surprise of Paradise where work is sweeter than play.”
—Henry Van Dyke (1852–1933)
“To achieve the larger goal of teaching her children consideration of others, a mother can tolerate some frustration of her own wishes, she can delay having what she wants, she can be flexible enough to compromise. And this is exactly what her child must also learn: that it is possible to survive frustration, it is possible to wait for what he wants, it is possible to compromise without capitulating.”
—Elaine Heffner (20th century)
“... business training in early life should not be regarded solely as insurance against destitution in the case of an emergency. For from business experience women can gain, too, knowledge of the world and of human beings, which should be of immeasurable value to their marriage careers. Self-discipline, co-operation, adaptability, efficiency, economic management,—if she learns these in her business life she is liable for many less heartbreaks and disappointments in her married life.”
—Hortense Odlum (1892–?)
“Whatever else American thinkers do, they psychologize, often brilliantly. The trouble is that psychology only takes us so far. The new interest in families has its merits, but it will have done us all a disservice if it turns us away from public issues to private matters. A vision of things that has no room for the inner life is bankrupt, but a psychology without social analysis or politics is both powerless and very lonely.”
—Joseph Featherstone (20th century)