WHITBY, ONTARIO--(Marketwired - Nov. 1, 2016) - In an ever-increasingly, complex business world, today's senior leaders are looking to their business analysis resources to provide timely solutions, value and insights to help guide their decision-making. Industry trends show that the next three years represent a critical moment for organizations, and these high stakes are demanding a new way of thinking. A new study entitled "Business Analysis - Positioning for Success" commissioned by International Institute of Business Analysis™ (IIBA®) reveals that organizations are expanding their expectations of business analysis and they are looking for smart, quick and improved decision-making to help drive organizational success.
Business leaders are anticipating significant transformation of their company over the coming three years, and these leaders are concerned about shifting consumer loyalty, technologies that are disrupting traditional business models and not having the time to think strategically. These trends are affecting the role of the business analysis (BA) professional necessitating a shift from task-based analysis to more value-driven analysis.
According to the research, the new BA skills that will be most valuable in the next three to five years include strategic thinking and analysis, leadership and creative thinking. This is an advancement of the skill sets that practitioners have developed today, which include requirements elicitation and documentation. Organizations view traditional business analysis skills as 'table stakes' and are looking for more strategic, value-added skills to help drive positive business outcomes.
"Organizations are looking to embrace evolved methods and skillsets to help inform and drive crucial business decisions," said Stephen Ashworth, IIBA President and CEO. "This research clearly shows that the business analysis profession, discipline and industry are at a pivot point. Never has there been a more critical need to have the right skilled professionals at the table who have specialized knowledge to help lead an organization through change."
The new research study, which was released on Global Business Analysis Day, demonstrates that as the C-suite prepares for business transformation, their expectations of BA practitioners is changing as well. Business leaders agree that the value BA professionals bring to the table in today's complex times include identifying and prioritizing new opportunities (72 per cent), enabling more efficient use of time/resources (72 per cent), improving understanding, acquisition and retention of customers (63 per cent) and increasing project success rates (63 per cent).
"Business leaders around the globe are acutely aware of the importance of navigating through a period of change in an increasingly demanding business environment," said Katie Bolla, Associate Principal, KPMG. "There is recognition that they cannot do it alone and will need to lean on advanced data and analytics and business analysis professionals who can drive insights to inform one of the biggest eras of business transformation in history."
Organizations that don't embrace the evolving role of the BA risk falling behind. Factors that prevent expansion of the role and reach of business analysis within an organization include a lack of leadership awareness of business analysis skill sets (48 per cent), a lack of sufficient internal BA resources (40 per cent) and an inability to recruit BA talent (37 per cent).
Other interesting findings from the research include:
- Future trends for business analysis include new business solutions, big data and mobile and digital.
- Only 19 per cent of practitioners felt their organization's C-Suite housed business analysis skill sets, whereas 68 per cent of leaders felt they did. Business leaders meanwhile, see business analysis skill sets as dispersed across the functional groups of their organization. The lack of alignment over where these capabilities exist makes leveraging the skills difficult.
- BAs influence how business leaders think about their organization and how they deploy resources. However, only a fifth of organizations say they are going to hire new BA talent in the next three to five years (20 per cent), with the majority of organizations maintaining existing resources (55 per cent) or training existing resources (52 per cent).
About International Institute of Business Analysis™ (IIBA®)
International Institute of Business Analysis (IIBA) is a professional association dedicated to helping the business analysis community create better business outcomes. Through a global network, IIBA connects more than 29,000 Members and more than 300 Corporate Members and 120 Chapters. As the voice of the business analysis community, IIBA supports the recognition of the profession and discipline and works to maintain the global standard for the practice and certification.
For a copy of the new research report, please visit www.iiba.org/research.