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Skills That You Can Learn From IT Enterprise Analysis

Enterprise Analysis is a critical activity performed by business analysts at an enterprise level to understand the overall needs of the business, its strategy, architecture and steps to fulfill those strategies. This analysis starts after the business team completed working on strategic vision, plans, and goals. These details hold valuable information from the project development angle and that’s why they are crucial for business analysts.

Remember, enterprise analysis not only focuses on business problems and its proposed business solutions but also on risks, feasibility, market impacts and sudden changes in the organization.

Understanding of Analysis at Various Levels

Industry Level Analysis

The industry-level analysis is the analysis approach performed by business analysts or business owners to assess the current status of our business with respect to the competitors in the market. This analysis paves the path to understand the economic elements of the marketplace and benefits which can be taken out of it.

The industry-level analysis is very important for any research analyst, example – equity research analyst. It is preferable to do Industry-level analysis in a report format as this report would throw some insights on the economic health of the organization.

The steps for by analyst for Industry Level Analysis are –

  • Reviewing the available reports.
  • Looking at correct Industry Competitors
  • Always keep an eye of Demand-Supply Ratio

Important functions performed in Industry-level analysis

Important functions performed in Industry-level analysis

Enterprise Level Analysis

We already got some overview of enterprise-level analysis. The main focus is on the enterprise level and considerations are across the firm. There is some core skill which a business analyst should possess to perform enterprise-level analysis. They are -

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  • Maintaining details of business architecture, business strategies, and goals.
  • Preparation of feasibility study, whether it is possible to perform this or not.
  • Enough Market Exposure and knowledge of competitors.
  • Analysis of Risk Management.

Project Level Analysis

Project Analysis is totally based on the project and its dimensions. Imagine what step we would perform to figure out if the project will be successful or not, or post-project completion? The steps performed would be called as project analysis.

Project analysis for IT software would differ from any networking company, so would be different for any other domain. Even analysis behind your college project would count as project analysis. At the enterprise level, it gets drill down to granular projects which are handled by different business functions.

Project Level Analysis may not need senior business analysts, but surely the business analyst involved should have a good command of the project.

Process Level Analysis

Process analysis is an analysis method to check on the effectiveness and journey of a business process. It is done to identify each and every part of the structure, the stakeholders involved, the data flow, the changes implemented and the end result is produced.

Process analysis revolved around –understanding of the process, quality of the process being followed and efficiency of the process. Process Analysis is very important as it constantly checks for improvements in the current process. This helps organizations to prepare themselves for a formularized process built from various feedbacks, analysis, and experiences with the current process.

At an enterprise-level, these are the steps to be followed for process analysis –

  • Determination of process to be analyzed.
  • Collection of all relevant details.
  • Visualization of the business process.
  • Initiation of the analysis.
  • Check for improvements.

What is Enterprise?

By now, you might be thinking what actually is an Enterprise? There are multiple meanings to word enterprise, it could be any project, business, company, venture, economic activity, etc. But mostly enterprise is associated with entrepreneurial ventures or simply another name for business. As a matter of fact, it can be detailed as a set of actions performed by someone(initiator), who takes up some risk, by setting, putting some investment and running the business. So this person is called an entrepreneur and that’s the reason it is associated with entrepreneurial ventures.

An enterprise always comes with an idea and a zeal to do something and make a profit out of it. An enterprise business runs very differently in today’s market. With so much diversity and economic uplift, it is not always possible that one person can arrange everything – land, capital, resource, infrastructure, networking, etc. Here the role enterprise comes, who plays like an aggregator and works collaboratively.

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The way enterprise functions is illustrated below –

  • There should be an initiation of the business plan.
  • The decision on which industry to be targeted should be finalized. This would help to build the right networking, tackle practical problems, make necessary financial arrangements, work on resources and infrastructure.
  • An enterprise should be guided by someone and move in proper direction.
  • There should always be the scope of the next plan, then only an enterprise would be able to manage risks better.
  • An enterprise should focus on innovations and be updated with the market.

Understanding of Important Pillars of an Enterprise

These are five mantras responsible for the success of any Enterprise. All five of them go hand in hand and are interconnected to each other.

Understanding of Important Pillars of an Enterprise

Any business analysts have a visualization towards these pillars -

  • Mission - Mission is the current state of any enterprise, the reason for its existence, products, and services the enterprise caters to. The mission statement reflects every angle of your business, types of products and service your enterprise would offer, pricing, technology, quality, and market position. All these details of mission statement form a formal mission of the enterprise and announced to the global market. In a nutshell mission’s main focus is on the pipelined business of the organization and the purpose it holds.
  • Vision - Vision is the future which an organization visualizes through its defined mission. Vision can be said as an anchor point of strategies and it summarizes the organization’s goals and policies to shape a better future. In simple words, we all visualize something for our future, and that’s what is our vision. Similarly, for an enterprise, vision is the futuristic approach of an enterprise governed by a set of policies, protocols, and strategies.
  • Values - Values can be seen in two aspects of any enterprise. The principle which any organization would follow for its policies and build its organizations’ culture would be termed as its core values. These values must also be inculcated in each and every employee within the organization.
  • Strategies - Enterprise strategies are the thought process within its business that impacts the firm as a whole. Strategies are drafted and designed by top management and board of directors of any organization. When formulating strategies its very important to have knowledge of industry-level analysis.
  • Objectives - Objective in simple terms would mean the purpose of the enterprise in the market. Any enterprise would have some common objective. These are -
    • Being Organized
    • Diversity in Marketplace
    • Having right people assigned for the right task
    • Focus on capital and infrastructure. 

Enterprise IT Analysis – What, When, Why, How, By/For Whom

Remember, the 5W’ and H concept. This concept has always helped to solve many problems and so are they helpful in the analysis world as well. The what, when, why, how and by/for whom is also similar and very beneficial because it gives answers to multiple questions. Let’s see the way each one of them would help in enterprise analysis.

What details need to be analyzed? This question would sort out problems like at what level, what are the factors affecting any enterprise, what is the market place and what all would be the impact of this analysis.

When analysis should be done, is it before forming any business enterprise or post-formation of enterprise, or both?

Why these analysis are important? This would help to fetch and finalize the benefits of enterprise analysis.

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How this analysis has to be carried out. What tools need to be used? What all documentation, processes, and meetings needs to be done for this?

And last, who would this analysis and for whom it would be done. Example - A Senior Business Analyst would perform this analysis and present it before the board of directors.

What are activities performed in Enterprise Analysis?

Business Analysts performed multiple activities as part of enterprise analysis -

  • Finalizing the scope of their analysis.
  • Gathering the list of all stakeholders, the majority, in this case, being the top management and board members. As the enterprise is associated with entrepreneurial ventures, the approval of the CEO is important.
  • Preparation of documentation on market and competitor analysis.
  • Listing down the participants who need to get updates on the analysis being performed.
  • Details on budget, capital, future investments, and resource planning needs to be captured.
  • Conducting various meetings and maintaining transparent communication among all parties.
  • Identify risks and highlight them.
  • Preparation of formal project plan to put all the details and timelines by when enterprise analysis would be completed.

Conclusion

Enterprise Analysis is not an easy task to do as it revolves around an entrepreneur. But a proper and complete enterprise analysis marks the success of any business. It helps the analyst to visualize the firm from all aspects and present a holistic view of it. I hope you had a great time learning this topic with us. I would conclude with the words of Sir APJ Abdul Kalam -

“Thinking is the capital, Enterprise is the way, Hard Work is the solution”




    Nidhi

    I believe in knowledge sharing and bringing change in people's lives. As a business analyst by profession, I love to explore everything about the way businesses should drive. I keep in touch with the latest business analysis updates.


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