Today, every business needs to keep a track of their strategies and performance to grow. There are a plenty of business analysis tools and techniques available to achieve the same objective. With one or a combination of more than one tools or techniques can help you in improving employee productivity. Here, we will the list most popular business analysis tools along with their features, importance, and download links. Then, we will discuss business analysis techniques that should be followed by BA for effective business outcomes.
List of top 10 business analysis tools
This is an amazing tool for business analysts that helps enterprises to build their apps and allows aligning business strategies with the IT execution.
- It ensures regulatory compliance.
- It will reduce IT risks by defining or standardizing the usage of certified compliance.
- It supports organizational transformation.
- The product has rich supporting tools and easy to use dashboards too.
- It helps in managing reports or analytics on every project in the portfolio.
2). Case Spec
Case Spec is a special kind of life cycle and business analyst tool that makes project management easier with complete traceability. This tool involves preparation of test cases, use cases, bugs, tasks, and many other activities.
- The product is able to manage trace relationships effortlessly.
- It will define product specifications with a trace graph and with the help of a special specification editor.
- The product has predefined templates that can be used quickly.
- It supports customizations with views, types, attributes, Links etc.
- It can quickly share or collaborate with a centralized repository.
- It supports history tracking, custom reporting, notifications either manual or automatic and more.
- It has automatic concurrency controls with multi-user environments.
- It helps in reporting and baseline comparisons too.
3). Enterprise Architecture
This is again one of the best business analysis tools that help managers to view or develop their organizations’ strategy, IT assets, and processes etc.
- Effective global collaboration
- Embedded development in the real-time.
- The product is able to improve the overall business outcomes.
- It makes it easy loading large models within seconds.
This tool has the capability to produce prototypes, wireframes, and documentation etc. This tool is frequently used by IT Consultants, business analysts, product managers etc.
- It is generating products in HTML format and share the same over a network.
- With this tool, multiple users can work on a single file at the same time.
- It could run over Microsoft IIS with the help of a Microsoft SQL Server database.
- Widget libraries can be created or maintained with this wonderful business analysis tool.
5). Bit Impulse
This is again a stable, fast, and secure business analysis tool helps in generating reports quickly with a vast amount of data. The tool has a plenty of analytics features too.
- The tool offers flexible administration and it can be integrated with MS Office as well.
- It helps in the automatic transfer of reports through emails.
- It is comfortable to work online with this tool because it can adapt and work at any internet speed.
6). Meeting Sense
This is a business analysis tool that allows Companies to maximize the ROI by reducing the overall time and technology usage.
- It makes team collaboration easy online.
- It helps users to implement the best practices through the entire software development lifecycle.
- The tool has easy to manage web-based notes to manage workloads for businesses.
- This is a standardized tool for an effective team meeting and it offers easy item management in the cloud.
7). JAMA Tool
This is a business analysis tool that is used widely to provide tough solutions across industries. The tool helps us in keeping pace with hardware complexity and software systems.
- It helps in maintaining the product quality
- It assures on-time project deliveries
- It helps users to collaborate in the real-time to shorten the milestone phases.
- The tool helps users in identifying risks and reducing life cycles as well.
- It helps in tracking relationship among projects to see the impact and send the relevant information to the organization.
- The custom reports can be generated based on industry compliance.
- New branches can also be created to develop a new version of the software.
8). iRise Business Analysis tool
This tool offers the working visualization of software and allows businesses to interact or visualize the important requirements.
- it allows wonderful user management, projects tracking, and helps to gain meaningful insights from existing business data.
- The ALM integration can be promoted with the tool.
- It offers live customer support and services.
- It will monitor the review cycle and gives flexible deployment options that allow optimum business management as per organizational needs.
9). JIRA Core
This is a task management and business analysis used frequently by BAs everywhere. It allows every person in the organization to manage, plan, and report on the work. The tool has a complete set of creative templates too that can be customized based on business needs and requirements.
- The tool has the task management features that help to track simple business tasks.
- This is possible that every user or connected employee can view of the status of a project without logging or setting up a meeting every time.
- It helps in managing corporate web designs or employee training programs too.
- It helps in measuring performance in multiple ways like either through pre-defined reports or documentation etc.
10). Top Team Analysis
This is a useful management tool that converts textual requirements into easy to understand diagrams. Once you will go through the diagram, business requirements could be understood well without going through so many documents.
- The tool helps to stimulate the behavior of an application.
- The test cases are generated automatically.
- It gives you complete version history.
- It makes easy to visualize and manage the end-to-end traceability.
- It will create impactful reports and documentation.
- The tool has the feature of integrated change management.
- It can be integrated with HP Quality Center and Microsoft Visual Studio quickly.
List Of Popular Business Analysis Techniques For A Business Analyst
The toolbox of a business analyst is full of dozens of business analysis techniques. These techniques can be used with almost any project and help you in moving forward even in tough conditions. So, let us see these techniques in detail below.
- Be an active listener so that project requirements could be understood and implement well.
- Set an agenda for a meeting what topics to be discussed and how to achieve the goals in a specific time frame only.
- Don’t forget to define the current state of the business process within an organization.
- Arrange one spontaneous group discussion to generate idea without any critical evaluation.
- Design a business analysis plan. Document well the business analysis approach, a list of deliverables, and how to work together to achieve those deliverables.
- In the next step, you should define the business domain model well. This is a visual model that logically defines how different business processes are connected together. Don’t take it as a data diagram that represents the actual database design or architecture.
- Define the business process model that could be given as the step-by-step description of one process that is given by users to accomplish a particular goal. These steps could either paper-based, software-based, or manual.
- Set the business rules that could be defined as constraints for some aspect of the business.
- A lot of information is collected or summarized with a formal documentation process. This information can be used further for deriving meaningful business decisions.
- A comparison matrix is prepared to define the current or future state of a product or system to that of an organization competitor.
- Arrange one conference call where multiple users can connect together from different physical lines through a phone line.
- There should be a data dictionary that will give detailed information about the business data, its elements, values etc.
- There should be one document that contains all technical details related to data exchange within an organization. They are given consideration when you are interested in managing tough API integrations or other ongoing data feeds.
- Make a data flow diagram to explain the possible number of information flows within an organization. They are especially useful when data-intensive processes are evaluated and you need to check how data is stored among systems and organizations.
- There should be proper data mapping that will let you know how data is mapped from one system to another. Here, you should create data mapping specifications to avoid potential issues and throw them out from the project scope.
- Design one entity relationship diagram to show how entities are related to one another. These are extremely useful for connecting business concepts with database structures.
These are the most important techniques frequently followed by business analysts. However, the list does not add here. Usually, successful business analysts design their own strategies and techniques. However, you are strongly recommended using business analysis tools listed earlier to make the business outcomes more effective that could help you in maximizing the overall ROI of the business.