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Business analysis techniques

Analyzing a business to improve its overall strategy is like looking at time itself through three different lenses. Business analysts are generally charged with the investigation of ideas and problems. There are a number of generic business analysis techniques that a Business Analyst will use when facilitating business change. Their work precedes that of the project manager. To look at a business's past, you need reliable data summarized in an organized and relevant format that everyone can actually see.

Though the concept of all this collection might sound straightforward, making it happen requires some kind of tool or method by which it can actually be accomplished, and within a reasonable amount of time that allows you to respond to the immediately pressing market forces. In this article we're going to look at the most common and known business analysis techniques that get you to what your strategy is, and should be. While there are thousands of variants and derivatives of the basic methods used to conduct their work, there a few business analysis techniques commonly used to achieve worthwhile strategic analysis. Some of these techniques include:
  1. PEST analysis

  2. de Bono's Six Thinking Hats

    : This is often used in a brainstorming session to generate and analyse ideas and options. It is useful to encourage specific types of thinking and can be a convenient and symbolic way to request someone to "switch gears". It involves restricting the group to only thinking in specific ways - giving ideas & analysis in the "mood" of the time. Also known as the Six Thinking Hats.

    1. White: Pure facts, logical.
    2. Green: Creative, emotional.
    3. Yellow: Bright, optimistic, positive.
    4. Black: Negative, devil's advocate.
    5. Red: Emotional.
    6. Blue: Cold, control.
    Not all colors / moods have to be used.

    : This is used to perform an in-depth analysis of early stage businesses/ventures on seven important categories:
    1. Market opportunity
    2. Product/solution
    3. Execution plan
    4. Financial engine
    5. Human capital
    6. Potential return
    7. Margin of safety
  2. MOST

    : This is used to perform an internal environmental analysis by defining the attributes of MOST to ensure that the project you are working on is aligned to each of the 4 attributes. The four attributes of MOST:
    1. Mission (where the business intends to go)
    2. Objectives (the key goals which will help achieve the mission)
    3. Strategies (options for moving forward)
    4. Tactics (how strategies are put into action)
  3. Business SWOT analysis


    : This is used to prompt thinking about what the business is trying to achieve. Business perspectives help the business analyst to consider the impact of any proposed solution on the people involved. There are six elements of CATWOE:
    1. Customers: Who are the beneficiaries of the highest level business process and how does the issue affect them?
    2. Actors: Who is involved in the situation, who will be involved in implementing solutions and what will impact their success?
    3. Transformation process: What processes or systems are affected by the issue?
    4. World view: What is the big picture and what are the wider impacts of the issue?
    5. Owner: Who owns the process or situation being investigated and what role will they play in the solution?
    6. Environmental constraints: What are the constraints and limitations that will impact the solution and its success?
  1. Five Why's

    : Five Whys is used to get to the root of what is really happening in a single instance. For each answer given a further 'why' is asked.
  2. MoSCoW

    : This is used to prioritize requirements by allocating an appropriate priority, gauging it against the validity of the requirement itself and its priority against other requirements. MoSCoW comprises:
    1. Must have: or else delivery will be a failure
    2. Should have: otherwise will have to adopt a workaround
    3. Could have: to increase delivery satisfaction
    4. Would like to have in the future: but won't have now
  3. VPEC-T

    : This technique is used when analyzing the expectations of multiple parties having different views of a system in which they all have an interest in common, but have different priorities and different responsibilities.
    1. Values: constitute the objectives, beliefs and concerns of all parties participating. They may be financial, social, tangible and intangible
    2. Policies: constraints that govern what may be done and the manner in which it may be done
    3. Events: real-world proceedings that stimulate activity
    4. Content: the meaningful portion of the documents, conversations, messages, etc. that are produced and used by all aspects of business activity
    5. Trust: between users of the system and their right to access and change information within it
  4. SCRS

    : The SCRS approach in Business Analysis claims that the analysis should flow from the high level business strategy to the solution, through the current state and the requirements. The SCRS is standing for:
    1. Strategy
    2. Current state
    3. Requirements
    4. Solution

Business strategy development


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According to a survey, when it comes to making use of videos in marketing, video is the preferred form of content used for building brand awareness (52%). It is followed by lead generation (45%) and online engagement (42%).

  1. VK videos
    Do you know that you can also post videos in VK - the Russian Facebook? Yes - as you guessed it by now - VK, the social giant, can also be used for marketing your videos.

There are basically many reasons why VK social networking site is by far the most diffused social network in the country. Therefore, if we talk about social media marketing in Russia and Europe, we are talking about Vkontakte.

  1. VK video player
    Have you added VK (VKontakte) to your video marketing arsenal? If you haven't - do it now! Get Free Followers is the 1st and only site in the world so far, providing this FREE service to you, so that you can understand the importance of VK in video marketing.

According to the Online Publishers Association, 80% of internet users recalled watching a video ad on a website they visited within the last 30 days. Of those, 46% took some sort of action after viewing the ad by searching for more information, visiting the advertiser's website or purchasing the product featured in the ad.

Further examination of other statistics included in the report, supports the evidence that video marketing increases sales and leads. Additionally, it shows that those businesses who are not leveraging video marketing, are losing customers to those who do.

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  5. VK videos
    Do you know that you can also post videos in VK - the Russian Facebook? Yes - as you guessed it by now - VK, the social giant, can also be used for marketing your videos.
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