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 goal of every culture is to decay through over-civilization; the factors of decadence,—luxury, scepticism, weariness and superstition,—are constant. The civilization of one epoch becomes the manure of the next.”
—Cyril Connolly (1903–1974)
“Syntax is the study of the principles and processes by which sentences are constructed in particular languages. Syntactic investigation of a given language has as its goal the construction of a grammar that can be viewed as a device of some sort for producing the sentences of the language under analysis.”
—Noam Chomsky (b. 1928)
“Most of the trouble in this world has been caused by folks who can’t mind their own business, because they have no business of their own to mind, any more than a smallpox virus has.”
—William Burroughs (b. 1914)
“Analysis as an instrument of enlightenment and civilization is good, in so far as it shatters absurd convictions, acts as a solvent upon natural prejudices, and undermines authority; good, in other words, in that it sets free, refines, humanizes, makes slaves ripe for freedom. But it is bad, very bad, in so far as it stands in the way of action, cannot shape the vital forces, maims life at its roots. Analysis can be a very unappetizing affair, as much so as death.”
—Thomas Mann (1875–1955)