General, How to, Problem solving, Tips

Basic Ways To Analyze Business Problems

Abimbola Kayode-Badmus Written by Abimbola Kayode-Badmus · 51 sec read >
Analysis of Business Problems

Business Analysis is used to identify and articulate the need for change in how organizations work, and to facilitate that change.

Business analysts are saddled with the responsibility of defining solutions that maximize the value delivered by an organization to its stake holders.

Step by Steps on how to analyze problems

  • Understand the problem
  • Gather relevant date
  • Analyze the date
  • Define the root cause
  • Identify possible solutions
  • Implement only solutions with high rates of yielding results
  • Define success and monitor results

Basic/Layman’s way of analyzing Business Problems

  • Be the business: Put yourself in the position of the business, and consider how your decisions will either make or mar you.
  • Be the decision maker: What will you do if you were the Managing Director at Talent Huntz and co. and you had to make a drastic decision?
  • Look out for the 5 W’s and H in each paragraph: Analyze the paragraphs as you read. Make sure every paragraph connects and try to make sense of it.
  • Write out every quantitative data you come across: Writing them out will help you connect the dots when needed.
  • Identify your objectives
  • Define your problem statements
  • Identify criterion: Factors that contribute to the problems at hand
  • Identify the change of sort: What changed? What was done differently in the previous year that the organization declared profit?
  • Identify possible solutions
  • Implement those solutions and make sure to keep track, so as to be able to measure success.

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