Quantum Computing Will Revolutionize Business Analysis
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This is the first entry in our “What’s Next” writing contest. If you like what you’re reading, remember to vote for it in our LinkedIn poll at the end of the contest.
As a Principal Business Analyst in New Zealand, I've always been a follower and early adopter of revolutionary technology. On that basis, quantum computing is something I've been looking into for a few years.
While it sounds futuristic, the technology is maturing quickly—similar to artificial intelligence (AI) tools like ChatGPT. I believe the ripple effects of this quantum computing technology will soon wash over business analysis, to tremendous effect.
Things are going to get wild in the next six to 12 months.
What is Quantum Computing?Despite the intimidating name, quantum computing is easy to understand.
While regular computers think in terms of “yes” or “no” (or binary 1s and 0s), quantum computers can think in “maybes.” This is thanks to tiny things called qubits, which can basically exist in multiple states at once.
These computers truly are super fast. It’s like having a superhero computer that can multitask on steroids. Tasks that would take modern computers minutes or hours can be handled in mere seconds.
Instantaneous Data AnalysisLet's consider a fun data analysis use case—one that applies to anyone with an internet connection.
Imagine you can sift through Netflix's entire library in a millisecond to find that perfect movie. Yes, that’s how fast quantum computers can work through big data.
This lightning-fast data analysis ability, applied to more appropriate business use cases, would be huge for certain sectors. In finance, for example, split-second decisions can mean big bucks. In healthcare, rapid diagnoses can literally save lives.
For these reasons alone, the ability of business analysts and data analysts to produce near real-time insights will be revolutionary.
Simplifying Business ProcessesBut what about optimizing business processes in the time it takes to sip your coffee?
If you’ve ever tried planning a mega road trip around New Zealand (a relatively small country), you'll know the pain of optimizing your travel routes.
Now think of businesses dealing with enormous supply chains or processes containing thousands of steps (like automotive manufacturing). Here too, quantum computing can find the best solutions in the blink of an eye, with amazing accuracy.
Business analysis professionals are often asked to help with risk identification and remediation—tasks that quantum computing can also simplify. Quantum computing offers lucid insights into potential risks with multiple lenses applied. It's like having a super-smart fortune teller on your team.
Quantum Computing Meets AIWhere else will quantum computing play a role in business analysis? When it’s combined with AI, the possibilities are almost endless.
As quantum computing becomes more prevalent, AI and machine learning will only grow in power. The awe-inspiring speeds made possible by quantum computers will help AI learn, adapt, and develop smarter and faster than ever before.
Many more AI possibilities will likely be explored over time, with some business analysts potentially transitioning to skilled prompt engineers.
Growing PainsQuantum computing is a thrilling, shiny new gadget for business analysis professionals, but some considerations are worth bearing in mind.
Quantum computer hardware may have occasional hiccups—it's still new, and it’s a little unproven. Our security and encryption methods may need to be upgraded as well, as quantum computers are powerful enough to outsmart some of them.
We should also be mindful of potential knowledge gaps. Quantum mechanics doesn't always blend well with traditional business analysis discourse.
Final ThoughtsSo, how can business analysts prepare for quantum computing?
If you're curious about this topic, now’s the time to jump on the quantum bandwagon. Keep your ear to the ground, take a suitable course or two, and find some tech buddies. Collaboration is key.
Business analysis is in for a fun ride, with massive transformations on the horizon. It's a brave new world, and the quantum age is knocking on the door.
Let's answer it.
Interested in big data? The Certification in Business Data Analytics (IIBA®-CBDA) recognizes your ability to effectively execute analysis-related work in support of business analytics initiatives. Get certified today.
About the Author:
David Pomeroy is the Principal Business Analyst (Infrastructure) at MBIE in New Zealand. He is a commercially focused analytical thinker who delivers innovative business solutions to meet an organization’s strategic, tactical, and operational requirements. With a deep passion for business analysis and problem-solving, David possesses extensive skills and experience in this field and believes that customers should be at the core of all research and decision-making.