Business Analysis Strategy
What is Business Analysis & Strategy?
Business Analysis & Strategy refers to two different business processes that work together, with the mutual goal of helping the business achieve a competitive position in the marketplace.
Every business has unique needs, and the business analysis process involves analyzing and assessing the business' strengths, weaknesses, opportunities, and threats (SWOT) to identify the most practical solutions to scale the business. This process helps create a unified understanding of the current business, explore new opportunities, and guide the company towards positive change.
Once the business analysis is complete then comes the creation of the business strategy, which helps to create a detailed action plan to guide the business towards tangible goals. This plan gathers all of the resources, steps, and predicted risks or changes along the way, all of which satisfy the project scope, scale, and feasibility.
Business strategies use defined goals gathered from the business analysis process as a framework for the business model, making sure that they are feasible, practical, cost-effective, and valuable to the business' long-term vision. Put simply, analyzing is discovering the "why" and the "what", while strategizing is exploring the "how."
The Process of Business Analysis & Strategy
The process of doing a business analysis & strategy is not a one-person job. It is a collective effort between the analysts, strategists, stakeholders, and any other key representatives from within the organizations.
There are three main areas of business strategy: Marketing Strategy, Operational Strategy and Financial Strategy.
No matter which strategy you choose to do, the business analysis & strategy process starts with analyzing the business model to identify unique needs including:
- Discovering the primary business objectives.
- Defining the scope.
- Researching and discovering the requirements from users, customers, and stakeholders.
- Analyzing gathered requirements and creating solutions.
- Evaluating and validating the solutions.
The solutions concluded by the business analyst need to be strategically executed to maximize the resources while achieving established objectives.
How A Business Analysis & Strategy Can Help Scale Your Business
Every business is unique and requires customized guidance to hold a competitive advantage in the marketplace. However, the direction to success in today's competitive market requires business owners to have extensive and holistic insights about the SWOT of their companies. That is why the business analysis & strategy process is critical for any modern business. It looks at the big picture to produce long-term results, which are essential to survive in today’s ever changing marketplace.
Here’s why investing in business analysis and strategies is important:
Improves Productivity: The process involves outlining the logical and data-driven business plan, and ensuring that the business functions in an efficient and effective manner.
Reduces Cost: Completing a business analysis and strategy process maximizes the use of available resources, saving financial resources and employee time.
Identifies and Solves Hidden Problems: Highlighting obstacles within the business model allows for the mitigation of future obstacles, potentially avoiding significant loss to revenue, credential, or reputation.
Creates Unique Competitive Advantages: The process identifies unique values that the company can offer based on extensive research on the structure and dynamics of the company.
Brings Transformative Results: Enhances sustainable aspects such as corporate structure, workplace culture, branding, or advertising approach, which are crucial for profound and long-term results.
Our Business Analysis & Strategy Services
It's time to evaluate and come up with a strategic plan to transform your business, especially if you want to thrive in the competitive digital realm! We know doing so is an extensive project, so we're here to help!
We offer the following services:
- Analyzing your current business operations, including website, SEO, security, social and performance audits
- Using a variety of tools to attain a holistic view of your business
- Crafting a unique, step by step strategy to increase your online presence
Connect with us to get started with your Business Analysis & Strategy plan!