Good Business Analysis Is More Important Than Ever
Every day now brings a news item or business article about the opportunities and risks that COVID-19 is bringing to companies and sometimes entire industry sectors. For some this is about trying to survive or deal with massive structural change to something that looked stable only a few months ago. For others, it’s an opportunity to take risks, rethink strategies or change direction. “As businesses juggle a range of new systems, priorities and challenges―business continuity risks, sudden changes in volume, real-time decision-making, workforce productivity, security risks―leaders must act quickly to address immediate systems resilience issues and lay a foundation for the future,” stated Accenture.1
Fundamental business analysis is now more important than ever to help companies navigate through change. Not only do I need to understand what I could or should do but also how and when – and how fast.
Digital transformation is one area that benefits greatly. When a company expands business analysis efforts it often experiences an easier and quicker digital transformation process, among other areas of improvement.
The new ‘normal’―remote work―is another area that needs thorough analysis. In a study reported by SHRM, 67 percent of employer respondents who don’t typically allow employees to work from home were taking steps to enable staff to work remotely.2 Enabling this to be successful is not just about deploying the right technology (although for some that is the immediate imperative). It’s also about insuring that the right work is being done, critical business outcomes are adapting to remote support and companies evolve well to potential new models of operating in the future.
If I decide to transition my company to a hybrid model of some in-facility work and some permanent remote functions, how do I decide which work functions are best suited to each approach? How to I monitor or measure stakeholder engagement and response to insure that my new normal is effective and sustainable?
Business Analysts on the Front-Line
Business analysis goes beyond understanding how requirements are changing, meeting customer needs that are themselves evolving, and creating digital solutions to issues related to remote work. Good analysis will also help manage risk and cost. Speaking to company leaders, the BA Times stated, “Although it may seem like you are spending more money as you will need to hire and pay a business analyst, in the long run, they can help to reduce the cost of the overall project that they are working on.”3
Business analysis professionals can drive meaningful change in an era of unprecedented challenge for businesses. This value has never been higher than it is now. Learn more about how business analysis can help your company during this difficult time in Businesses Benefit from Expanding Business Analysis Efforts.
Join IIBA’s webinar, The State of the Business Analysis Profession in the Digital Age with Delvin Fletcher on June 16 at 12:30 PM ET
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About The Author:
Delvin comes to IIBA from the Chartered Professional Accountants of Ontario where he provided leadership as their CIO and became more familiar with membership and certification organizations. Delvin spent his formative years as a Consulting Manager for KPMG serving on projects around the globe. He has served in leadership roles in global firms like SAP, Rubbermaid, and was SVP and CIO for Shred-It as this franchise hit hypergrowth internationally. He has served as Chief Operating Officer in entrepreneurial ventures such as Xchange Technology Group where he held responsibility for IT, HR, operations, and several business revenue lines in North America and Europe.