There are loads of business analysis tools out there, but the PESTEL model, also called PESTEL analysis, is one of our favorites. The PESTEL model is a type of PEST analysis which considers six crucial business factors. The six categories are: Political Economic Sociocultural Technological Environmental Legal Although it may seem simple at first sight, … [Read more...] about What Is the PESTEL Model for Business Analysis?
In one of our recent posts, we introduced you to the concept of the macro environment: the broader business environment affecting all markets and industries. In this article, we're going to walk you through some real-world examples of the macro environment — but first, let's review the factors affecting the macro environment. Example Factors in the Macro Environment As we … [Read more...] about Macro Environment Examples in the Real World
In business analysis, we tend to focus our research on individual markets and industries, without paying attention to the greater, so-called macro environment. But what exactly is the macro environment, and why should you care? The macro environment is the broader business environment across all markets and industries. It takes into account the size and nature of entire … [Read more...] about What Is the Macro Environment in Business Analysis?
A business analyst studies a variety of studies to use as problem solvers. Everything from a risk analysis to STEEPLE is known — even used — by the average analyst. An analyst needs a heavy arsenal of variety to treat the many different problems arising in a business. And that arsenal wouldn’t be complete without SWOT analysis. Trouble is, because of its simplicity. Yet it’s … [Read more...] about 3 Reasons Why All Business Analysts Should Embrace SWOT Analysis
Business owners use PEST analysis because it’s a simple but effective strategic tool… if done correctly. Otherwise, it’s a time-suck that provides no actual benefits. You can say you’ve finished one, but unless you can use the information from the analysis to propel your business, there’s no point in putting in all that effort. You shouldn’t waste any of your valuable time. … [Read more...] about Are You Doing Your PEST Analysis Correctly?
What leads a business analyst from simply “good” to “great?” Education and credentials play a role. The software helps. But that’s not it. Consider this: If you were a business owner, would you want to work with someone who stumbles through a conversation? Do they visibly sweat when meeting your eye? What about the person who commands the room the moment their foot passes … [Read more...] about 5 Qualities That Make A Great Business Analyst
Not sure if you’re ready to fully embark on becoming a business analyst or project manager in a classroom setting? Dip your toes into both of these worlds by reading a few select books. Some are textbooks that provide introductory explanations of critical concepts. Others focus on particular topics related to the profession, such as use cases. The best books are available … [Read more...] about The Best Books to Learn Business Analysis and Project Management From Home
A professional business analyst addresses and treat problems within the organization through analysis. Every company is unique in how they function. Applying all strategies to every problem wouldn’t just be foolish, it’d be plain wrong. But every business analyst needs several tools on their belt to solve problems efficiently. That’s why many analysts have studied PEST, … [Read more...] about 4 Strategies Every Business Analyst Needs in Their Arsenal
Business analysts express appropriate knowledge to uncover problem areas and develop a business solution. The goal is to reduce challenges and, by proxy, help the business do better. Better, of course, varies by the company. But all businesses benefit from one thing: Agility. Here are three distinct ways business analysts can increase agility within a corporation. 1. … [Read more...] about 3 Ways Analysts Increase Business Agility
As a business analyst, you’re expected to stay on your toes. Understanding different types of analyses, keeping up with communication strategies, and relaying data in an easy to understand format are boxes you check off with ease. But if you’re not advancing your skills, your trespassing on mysterious land. Businesses are continuously expanding and requiring flexibility to … [Read more...] about The Best Ways to Advance Your Business Analyst Skills