Business Analytics and Analysis

Show Notes: Welcome to Business Analytics and Analysis Episode # xxxx. topic around problem-solving Effective problem-solving is an important skill for business analysts to have. By following a structured approach and clearly defining the problem, generating potential solutions, and carefully evaluating and implementing the chosen solution, you can effectively tackle any challenge that comes your way. As a business analyst, you will be faced with a variety of challenges and will need to come up with creative solutions to solve them. As an example, may be you are working as a Business Process Analyst trying to understand why does it take 10 minutes for a call center employee to complete a call. In this case you would want to use some problem solving skills and techniques to determine what the problem actually is. In this episode, we will discuss some strategies and tips for effective problem-solving as a business analyst. One key to effective problem-solving is to take a structured approach. This means breaking the problem down into smaller, more manageable pieces and tackling each piece one at a time. This allows you to focus on specific aspects of the problem and come up with solutions more efficiently. In our exam of the Business Process Analyst, there is a 10 minute time frame. May be you break this down into chunks of - Time taken at the beginning of the call, the middle and the end and you analyze the 3 problems. Another important aspect of problem-solving is to clearly define the problem. This may seem obvious, but it's easy to get caught up in trying to solve a problem without fully understanding what it is. Make sure to take the time to thoroughly understand the problem, including its root cause and potential impacts. You can use a technique called root cause analysis to determine the root cause of the problem. It could very well be that there are a number of them such as: The systems are slow There aren’t any Standard Operating Procedures and more Once you’ve identified the cause, and you have a clear understanding of the problem, it's time to generate potential solutions. This can be done through a variety of methods, such as brainstorming, SWOT analysis, or using a decision matrix. It's important to come up with as many potential solutions as possible, even if some of them seem far-fetched. The more ideas you have, the more likely you are to find a solution that works. After you have a list of potential solutions, it's time to evaluate them. Consider factors such as feasibility, cost, and potential impact. From there, choose the solution that best meets your needs. Implementing the solution is the final step in the problem-solving process. Be sure to clearly communicate the solution to those who will be implementing it, and make a plan for how it will be implemented and tracked. There are many different problem solving techniques that you can use, depending on the nature of the problem you are facing. Here are a few common ones: Brainstorming: This involves getting a group of people together and encouraging them to come up with as many ideas as possible, without judging or evaluating them. This can help generate a wide range of potential solutions. SWOT analysis: This is a tool used to evaluate the strengths, weaknesses, opportunities, and threats of a situation. It can be helpful in identifying potential solutions and making decisions. Decision matrix: This is a tool that allows you to evaluate potential solutions based on a set of predetermined criteria. It can help you choose the best solution based on objective factors. Root cause analysis: This involves identifying the underlying cause of a problem, rather than just treating the symptoms. By addressing the root cause, you can more effectively solve the problem. Six Sigma: This is a data-driven approach to problem solving that aims to identify and eliminate defects in a process. It involves using statistical analysis to understand and improve processes. Design thinking: This is a creative approach to problem solving that involves understanding the needs of the user, prototyping and testing potential solutions, and iterating based on feedback. PDCA (Plan-Do-Check-Act) cycle: This is a four-step process for continuous improvement. It involves planning a change or solution, implementing it, checking to see if it was effective, and making adjustments as needed. The 5 Whys: This is a simple technique for getting to the root cause of a problem. You ask "why" something happened, and then ask "why" again for each answer, until you reach the root cause. These are just a few of the many problem solving techniques that you can use. It's important to choose the right technique for the specific problem you are facing, and to be open to trying out different approaches. In conclusion: Problem-solving is a crucial skill to have for a business analyst Use a structured approach for problem-solving Use techniques that you can find in the BABOK guide or a few that were mentioned here for problem-solving For links and show notes visit the website baknowledgeshare.com and our youtube channel. Do you have any systems or steps that you use for problem-solving? If you would like to be a guest on this show email baknowledgeshare@gmail.com

Show Notes : Visit our website at: Baknowledgeshare.com Visit our youtube channel BAKnowledgeShare Let's understand what chat GPT is in simplest terms, chat GPT is an Ai based chat bought that can provide tons of benefits to business and data analysts. This artificial intelligence bought can answer questions and write essays and program computers. This was released in November of 2022 to show off and test what a very large powerful Ai system can accomplish. Take a listen to the podcast.       

Show Notes: Visit our website at: Baknowledgeshare.com Visit our youtube channel BAKnowledgeShare Welcome to the B.A. Knowledge Share. If you like these videos, please subscribe and like the videos. As a business analyst, your job is to understand what are business goals and objectives. This video explains what is a business goal and objective and why is it important for you to understand what they are? Business goals and objectives are essential for the success of any organization. They provide a clear roadmap for what the business hopes to achieve and help to ensure that all employees are working towards common goals. As a business analyst, you want to tie any requirements back to business goals and objectives. It also ensures that there isn't any scope creep. Here are some more reasons why you need to be familiar with business goals and objectives. Goals and objectives provide direction without clear goals and objectives. It can be difficult for a business to know where it is going. By setting clear goals, a business can ensure that all employees are working towards a common vision and that their efforts are aligned with the overall direction of the organization. They help to prioritize tasks. Setting goals and objectives allows a business to prioritize tasks and allocate resources appropriately. This ensures that the most important tasks are completed first and that resources are used efficiently. They measure progress. Goals and objectives provide a way for a business to measure its progress and determine whether it is on track to achieve its desired outcomes. This allows the business to make adjustments as needed to stay on course. They motivate employees. Goals and objectives can be a powerful motivator for employees as they provide a clear sense of purpose and a target to work towards. By setting challenging, yet achievable goals, a business can motivate employees to give their best effort. They provide a sense of accomplishment. Achieving business goals and objectives can provide a sense of accomplishment and pride for both the business and its employees. This can help to build morale and foster a culture of success within the organization. In conclusion, business goals and objectives are essential for the success of any organization. They provide direction, help to prioritize tasks, measure progress, motivate employees and provide a sense of accomplishment by setting clear goals and objectives. A business can ensure that all employees are working towards common goals, and you, as a business analyst, can ensure that the requirements are on track. If you like what you see, consider subscribing to the be analyst chair and visit our website at B.A Knowledge Care.com. 

Want to stay up to date on the latest Business Analytics information, views? Visit our website to get free training, articles on Business Analytics and Analysis. Webiste: www.baknowledgeshare.com Join our facebook group at: https://www.facebook.com/groups/382157632672899/

Want to stay up to date on the latest Business Analytics information, views? Visit our website to get free training, articles on Business Analytics and Analysis. Webiste: www.baknowledgeshare.com Join our facebook group at: https://www.facebook.com/groups/382157632672899/

Want to stay up to date on the latest Business Analytics information, views? Visit our website to get free training, articles on Business Analytics and Analysis. Webiste: www.baknowledgeshare.com Join our facebook group at: https://www.facebook.com/groups/382157632672899/

Want to stay up to date on the latest Business Analytics information, views? Visit our website to get free training, articles on Business Analytics and Analysis. Webiste: www.baknowledgeshare.com Join our facebook group at: https://www.facebook.com/groups/382157632672899/

Want to stay up to date on the latest Business Analytics information, views? Visit our website to get free training, articles on Business Analytics and Analysis. Webiste: www.baknowledgeshare.com Join our facebook group at: https://www.facebook.com/groups/382157632672899/

In this episode, I will go over some of the top tools used in analytics.    Want to stay up to date on the latest Business Analytics information, views? Visit our website to get free training, articles on Business Analytics and Analysis. Webiste: www.baknowledgeshare.com Join our facebook group at: https://www.facebook.com/groups/382157632672899/