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What Is Business Analysis
An introduction to the business analysis discipline
According to the dictionary, analysis is a detailed examination of anything complex in order to understand its nature or to determine its essential features.
Why do we analyze business? If we replace the words “anything complex” with the word “business”, would that be a satisfactory definition of business analysis?
First, let’s look at what the word “business” stands for in the context of the business analysis discipline.
A business is an organization, company or corporation that engages in specific activities in order to deliver value to its customers in exchange for revenue.
The “value” delivered by a business could be a product, a service, a public program or a resource for another business.
The “revenue” in this context may be from sales of products and services as well as public or private funding.
To create value for its customers, a business must transform inputs, materials and resources into something new, or something with added value.
This is achieved by applying certain processes, such as manufacturing or modifying things, services or information.
