Business Analysis is a disciplined approach and process of identifying business needs and discover the solutions for business issues. The Business Analyst is a person who works with business entities in order to help them improve, and enhance their business and systems. In this regard, a professional BA comes with various solutions for the issues through proper research and analysis. The business Analysis enables a BA to define business requirements, collect and sort out the needs, documentation, and so on.
Hence, in this blog, you are going to learn the various Business Analysis tools and techniques useful for BAs. They help the business to improve and grow in a determined approach.
Business Analysis tools and techniques
There are many popular and most useful Business analysis tools available in this market. Let us discuss them in detail and the techniques that a BA applies to use them.
Wrike
This is one of the most popular Business analysis tools for a Business analyst. It’s a cloud-based real-time project management tool and a SaaS product too for a BA. Moreover, Wrike stores all the necessary information as a central location and also minimizes the project analysis costs.
Features of Wrike
The various features of the Wrike BA tool include-
- It helps in developing major building blocks of work.
- This tool is useful in requesting forms and applying automation.
- It supports in balancing different resources along with editing and managing files.
- Moreover, this tool assists in setting up the planning, deadline of work, and several other processes.
- Also, this tool helps in tracking performance by using workload views. It also measures the time spent by the team member in budget management.
To get more details about Business Analysis, go through the Business Analyst Online Course from ITGuru experts.
Oracle NetSuite
This is a unified Business analysis tool and a management suite for business analysts. The Oracle tool includes solutions for different business sizes (small to large). And also it consists of different functions for ERP, CRM, e-commerce, etc.
Moreover, it offers more customized and standard reports for different types of transactions.
Features of Oracle NetSuite
- The NetSuite is useful for business units in many ways like for enterprise resource planning (ERP).
- It helps to manage stocks, financial tracking, manage CRMs for customers, etc.
- This tool helps to reduce prices for many small & mid-sized businesses. Such as financial closing, IT costs, improves quote to the cash life cycle, etc.
- Its a highly scalable, flexible, and agile business solution for various enterprises. This is mostly suitable for small size business entities.
Adobe Acrobat
The new version X of Adobe Acrobat allows users to modify content or images within the file without going out of PDF files. Hence, it is useful to edit PDF documents with ease. Moreover, users can use this for creating, storing, and distributing PDF files.
As a Business analysis tool, it helps BAs to improve their productivity by easily creating various reports.
Features of Adobe Acrobat
- It helps in making any change to the PDF document easily and simply.
- There is another beautiful feature in this tool that the content in the document adjusts automatically while editing the PDF.
- Furthermore, it auto checks spellings and easy to edit doc from anywhere.
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Microsoft Visio
This is a part of MS Office that comes with standards and professional editions. And a beautiful app for making diagrams. The term Visio only represents that it is useful for visualization.
Features of Microsoft Visio
There are many features and uses of MS Visio in Business Analysis.
- Users can draw advanced level images and templates easily.
- These diagrams, images, or templates can be linked with different sources.
- Moreover, this tool also helps in displaying diagrams in a graphical view.
Bizagi
This is also a popular BPM tool for BA. Moreover, it consists of three different products for using on-premise. Such as Modeler, Bizagi Studio, and Bizagi Automation.
Features of Bizagi
- This tool provides an agile automation platform for its users.
- Moreover, the tool Bizagi supports various formats like Word, Wiki, PDF, etc.
- Bizagi BPMS gives the users the power with complete reporting features including very intuitive and real-time analytics. Hence, this feature also helps to improve the business processes.
BluePrint
BluePrint is also a very useful Business Analysis and it helps business entities to create better business apps. This tool is useful for agile planning and also enhances the agility of the entity. Furthermore, it allows IT execution with business strategies.
Features of BluePrint
The features of the BluePrint Business Analysis tool are as follows.
- The tool ensures regulatory compliance for its users.
- It offers support to the enterprise-level change.
- Besides, the tool minimizes the IT compliance risk for its users by describing the usage of certified compliance.
- This tool includes rich reporting tools with easy to use simple dashboards.
- Moreover, the tool can integrate with Jira for more useful results.
- Last but not least, this tool helps in faster product delivery.
Axure
The tool gives the ability to produce wireframes, prototypes, and build documentation. Moreover, this tool is useful for professionals such as BAs, product managers, and IT consultants across the globe. Also, Axure is useful for many web-based and desktop apps.
Features of Axure:
- Axure RP tool produces projects to HTML and also gives a link for sharing.
- The tool allows different people to work on the same file simultaneously.
- Further, this tool runs on MS IIS with a MySQL or MS SQL Server database.
- Moreover, it helps to build and maintain widget libraries with an easy to use drag-drop facility.
- The tool Axure provides numerous forms of control such as buttons, text areas, drop-down lists, and so on.
LucidCharts
The Business analyst tool is a web-based solution for various diagrams and charts. There is an option to subscribe for the users who want to use this tool. Moreover, users can start using these for BA by suggesting changes and locating needs for the business.
Features of LucidChart:
This Business analysis tool provides various features useful in Business apps.
- By using this tool, users can design simple and complex diagrams and flow charts.
- Besides, users can build a solid link between the live data and diagrams.
- Moreover, the tool also supports data import to create build org charts automatically.
- There are some free templates also that this tool offers to perform analysis with real-time updates.
CASE spec
This is a new type of Business analysis tool that makes it easy for the user to manage different projects fully traceable. Moreover, this BA tool includes test cases, used cases, problems, errors, and many other tasks or activities.
Features of CASE spec:
- It helps to mention products by using a trace graph or a special needs editor.
- This tool helps to manage trace relationships easily and effortlessly.
- Further, this is ready to use software with predefined templates and other specifics.
- The tool supports personalization with Views and Connection Types/Attributes.
- It offers easy sharing and also combines with a centralized repository.
- This BA tool allowing sending manual and auto-notifications.
- Predefined reporting with customization features.
- Moreover, the tool has an automatic concurrency control for too many-user ecosystems.
BitImpulse
This is a very fast, secure, and constant business analysis tool. Using this tool it’s possible to produce reports much faster on a vast amount of data. Moreover, this tool also provides powerful and intuitive analytic features.
Features of BitImpulse:
- It has very flexible administration and control.
- This tool easily integrates with MS Office.
- It automates the report sending via e-mail.
- Moreover, this tool is compatible to work online on any speedy network or internet connection.
IRise
This Business analysis tool provides working displays of business analytic software. Further, it enables business units to visualize and interact with major business systems before development.
Features of IRise:
- The tool allows managing several users, track projects, and gains critical insights about the project.
- Also, it provides integration with ALM seamlessly.
- The tool provides live customer service and support to its users/clients.
- It observes the review cycle of a product.
- It offers flexible deployment options that enable managing businesses as per their entity’s needs.
- Furthermore, it helps in setting up an automatic revision tracking system to track instant modifications.
Balsamiq
This is a rapid wireframing BA tool that helps businesses to work faster & smartly. It offers the best way to work remotely and combine UX Design. This tool enables various hosting projects online. The tool also provides an alliance between different teams and clients.
Features of Balsamiq:
- It helps to share or display mockups with implanted links using PDF.
- This tool allows creating templates, masters, and many reusable component libraries.
- It has a very fast & intuitive user interface that helps in various ways.
- The tool Balsamiq offers a drag-drop facility to its users along with an editor.
- Furthermore, this tool allows building wireframes using a keyboard.
- The connection enables users to click-through prototypes for testing demos & usability.
- It includes an extensive library of interactive, intuitive, and ready-to-use controls.
- Moreover, the tool also includes a number of UI controls and icons to use.
Trello
This is one of the project management tools useful for BAs. Moreover, this is a kind of web app and freely available to use. It helps in managing projects with integration.
Features of Trello
- This BA tool is easy to integrate with other existing tools.
- It also helps in data syncing through all the devices.
- Moreover, users can use this tool for their personal work also. It helps in this regard very much.
- JIRA
This is a bug tracking, project management cum Business analyst tool that helps business units to schedule, track and work on reports. Furthermore, this tool helps business users to customize the templates for their specific business purpose.
Features of JIRA
- The tool includes a task management feature that helps to track simple and easier tasks.
- It facilitates seeing the project's status without having to email every person.
- Its project management feature enables maintaining corporate website designs or employee training programs easily.
- Users can design their own workflow using this BA tool.
Meeting Sense
The BA tool Meeting Sense allows businesses to enhance their ROI for minimizing meeting time by using technology.
Features of Meeting Sense
- It allows easy online meet up with team members.
- The tool helps its users to apply best practices throughout the whole pre and post-meeting cycle.
- Further, this tool gives easy-to-use web-based meeting notes for task management of the business.
- It provides easy to meet options for the team within a business unit.
Business analysis importance
There is great importance for BA in the business sector. It helps to determine how the business is working at its full potential. The term Business analysis refers to analyzing the business performance in real-time using various tools and techniques.
Before developing a business project, it requires defining the basic needs of the project as time, rework, and the cost of handling. This is the most important thing in the purview of Business Analysis.
Hence, a business analyst needs to be perfect in gathering all the necessary info regarding a project of any business. This will help him to work with great determination towards business enhancement.
The tools within BA are very useful for the people who work on business or project development. It helps them to identify loopholes existing and apply suitable solutions for improvement.
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Business Analysis Techniques
There are various BA techniques available such as:
- Strategic business analysis
- Analytical BA
- SWOT analysis
- MOST analysis
- BPM
- Brainstorming
- PESTLE Analysis
- Requirement Analysis
- Project management and many more.
These techniques of BA are much useful for the analysts to identify various business needs and work on them. It gives the business a new way to improve.
Identifying business needs by Business Analyst
There are many ways to identify business needs to run operations smoothly for a BA. Hence, a business analyst inquires, defines, and documents the various business needs. Through this business documentation, a BA can be able to decide the scope, timeline, and another kind of project resources.
This is the most critical task for any BA within a business sector. It needs to locate various aspects of business and issues. Thus, this is a challenging one and a BA has to work with full zeal. It will enhance his career professionally and also helps businesses to grow faster.
Moreover, a business analyst works as a link between the client and the technical team for business analysis. Besides, there are a number of business analysis (BA) tools that are available currently. These tools can be sub-classed based on their functions and activities. Such as:
BPD, document preparation, display, CRM, analytics, communication, meetup, automation, presentation, etc. Also, these tools are useful in fulling business needs with great determination.
Conclusion
Hence, the above blog defines the various Business Analysis tools and their uses for Business analysts. The analysts use these tools and techniques for better understanding business and identify solutions for issues. Thus, BA is useful to avoid the various unwanted expenses and rework. The tools and techniques above detailed are most useful in business analysis for a business analyst. To know more about the Business Analysis and analyst, go through the Business Analyst Online Training from the ITGuru platform. This learning may help you to enhance existing skills in BA.