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Business analysis is the discipline of identifying business needs and determining solutions to business problems. These solutions may include improvement of business processes, accommodating/incorporating new processes or strategic planning and policy development. The person who performs this role of identification and determination is called a business analyst or BA.
Clients do not have the time to make the technical team understand how business operations, processes, compliances and competitors work; nor does the project manager have time to make business people understand how technology worked. This position of a BA actually fills this gap, to make the project successful.