About This Chapter
Business Analysis Tools & Techniques - Chapter Summary
For a comprehensive overview of business analysis tools and techniques, take a look at these engaging business lessons. As you progress through the chapter, you'll see how topics like business elicitation techniques, group decision support systems, swim lane diagrams and payoff tables fit into the process of business analysis. By the end of the chapter, you should be able to:
- Explain several business analysis methodologies and techniques
- Recognize tools and software that are used in business analysis
- Use decision trees and payoff tables to analyze business problems
- Describe business elicitation techniques
- Evaluate decision-making, data analysis, data reporting, business problem-solving and opportunity identification tools
- Define group decision support systems (GDSS)
- Understand PESTLE analysis and the 5 Whys analysis template
- Interpret swim lane diagrams
When you're finished with each lesson, try the accompanying self-assessment quiz to reinforce what you've learned. The chapter concludes with a multiple-choice exam, and you can reach out to our instructors if you need any extra help understanding these business analysis techniques and tools. Work through the chapter at your own pace, and use any computer or mobile device to study.
1. Methodologies & Techniques in Business Analysis
This lesson provides a definition of business analysis and its importance in selecting, implementing and evaluating organizational strategy. It will then examine the various methodologies and techniques that business analysts use.
2. Business Analysis Tools, Techniques & Software
This lesson examines the tools, techniques, and software commonly used in business analysis. Business analysis attempts to identify the requirements of a particular business and solve business-related problems.
3. Analyzing Business Problems Using Decision Trees & Payoff Tables
Businesses are faced with decisions every day, but how do you figure out the best course of action for your business? In this lesson, we'll explore two tools to help you out: decision trees and payoff tables.
4. Decision Making: Skills & Techniques
We make decisions all the time, but how do we make them? How useful are our decision-making techniques? In this lesson, you'll learn about the skills used in decision making, the six steps involved, and finally, four different techniques you can use when faced with a decision.
5. Quantitative Decision Making Tools: Decision Trees, Payback Analysis & Simulations
Successful managers use decision-making tools to analyze a problem and try to determine the best solution for that problem. Here, we will discuss three main decision-making tools and help you to understand their function and implementation.
6. Group Decision Support Systems (GDSS): Improving the Group-Decision-Making Environment
A Group Decision Support System, or GDSS, consists of interactive software that allows for making decisions by a group of participants. Learn about some of the tools used in a GDSS.
7. Database Reporting Tools: Example & Definition
Reporting is a fundamental operation in today's data centric world. In this lesson, we'll take a look at reporting and how it relates to databases. In the end, you should have a good understanding of these important technologies.
8. 5 Whys Analysis: Template & Overview
The 5 Whys system is a common technique used for root cause analysis. This lesson will provide an overview of the 5 Whys analysis and include a template so you can conduct your own analysis.
9. What is PESTLE Analysis? - Definition & Examples
How do you keep ahead of your competition and identify the risks or benefits of operating in a particular environment? This lesson will discuss how you can use PESTLE analysis to consider how external elements are affecting your company.
10. Swim Lane Diagrams: Definition & Examples
Sometimes, companies need to show a process. There are many diagrams to choose from when showing how information flows. In this lesson, we'll learn about one of them, known as the swim lane diagram.
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Other chapters within the PMI-PBA® Certification Exam Study Guide - PMI Professional in Business Analysis course
- PMI-PBA® Certification Overview
- Understanding Business Analysis
- Business Needs Assessment
- Leadership Principles
- Business Analysis Planning
- Business Analysis Methods
- Types of Business Analysis & Management Models
- Traceability & Monitoring in Business
- Communication, Conflict Resolution & Negotiation in Business
- Business Analysis Evaluation
- PMI-PBA Certification Exam Study Guide - PMI Professional in Business Analysis Flashcards