Business Analysis Full Course 2026 [FREE] | Business Analytics Tutorial For Beginnners | Simplilearn

Hey everyone, welcome to this course on business analysis. Now today, organizations do not just need ideas. They need the right people who can identify business needs, work with stakeholders, define requirements clearly and recommend solutions that create real value. And that is exactly why business analysis has become so important skill. And for professionals who want to grow in this field, CBAP is one of the most recognized certification that shows strong knowledge of business analysis practices and frameworks. So in this course, you will be learning the key concepts of business analysis based on the Babok guide V3 framework where we will be covering the core knowledge areas, important techniques, exam related concept and practical applications used by business analyst in real projects. So whether you are preparing for the CBA exam or simply want to strengthen your business analysis understanding, this course will give you a solid foundation. Let's look at the agenda. First, we'll understand the CBAP certification including the exam structure, eligibility, application process, and course requirements. Next, we'll be exploring the fundamentals of business analysis, including the BACCM model, the six Babok knowledge areas. Next we'll move into key areas like planning, monitoring, elicitation, collaboration, strategy analysis and requirements. After that we will cover important business analysis techniques like brainstorming, interview, SWAT analysis, root cause analysis and many more. And finally we will look at real world case studies and project work that will help you apply these concepts in a very practical way. Also, if you are interested in boosting your career in business analysis, do not forget to check out our AI powered business analyst course. Now, this course is perfect for professionals who are looking to enhance their skills with the latest tools like PowerBI, Excel, SQL, all while gaining hands-on experience with real world projects. Also, you'll be learning how to leverage generative AI for smarter, faster decision-m. Our program is IBA babok V3 aligned and it will help you prepare for certifications like CBA CCBA where you will engage with 10 plus industry projects, 40 plus practical activities and benefit from live online sessions led by experts. Plus with simply learns job assist you will be getting the support you need to land your next big role. So what are you waiting for? Hurry up and enroll now. The courseing is mentioned below. So before we get started here's a quick quiz question. Which of the following is one of the six core concepts in the BACCM model? Your options are budget, context, coding or marketing. Let me know your answers in the comment section below. So let's start with the first topic for the day. Let's discuss what is business analysis. You all can see here 71% of the failed software projects are traced to poor requirements globally. What do you all think is the main major reason behind this huge percentage? Just look at this percentage. Only 29% is a success rate. just 29%. The main reason is assumptions, emotions and other aspects those should not be part of your analysis work. Analysis should be purely based on the factual evidences. Analysis should be based on your research, exploration, investigation and there's no scope of assumption when we are doing our analysis. Imagine imagine if I ask this question that why 45y old woman sati says I have done the historical analysis. I know that this woman is a CEO of this company. She has got ample of experience. This boy is still in school. So my preference is this woman. But was that information given in the case study? No. So here you should all should have asked this question that we need more information more information with regard to what exactly is the benefit why we have to explain this more information regarding their educational qualification their background what they are doing currently. So meaning to say it's an important thing to understand the business needs get a stronghold over the existing behavior. Understand the context that is what context we're trying to bring about the change. understand the existing behavior, functionalities, processes, infrastructure and all such things would then help you come up with the solution. Most of you were coming up with the solution based on assumptions with no factual evidences to support your argument. And that's the first thing that we need to inculcate. We need to start working in or we may say start to accept that it's an important thing for us to collect the factual evidences first. Second point you all can see here on your screen everyone 40% of the effort in an average software project is in fixing errors. Why do you think why do you all think we have errors in any project? What's the main root cause of the errors in any project? What's the main reason of issues or defects in any project? Assumptions, incomplete analysis. Yes. You don't understand the business needs. You you have not gathered all the required information and you jump to the solution. No proper testing is blaming testers and saying BA is the perfect person but testers are causing the problems. Yes. But testers are dependent on you for the requirements. If your requirements are not cleared then you cannot blame the testers. Yes. So don't blame testers. put the blame on the VA first and then the testers. Yes. Okay. Requirement is half cooked. Improper testing and documentation leads to all such things. Yes. And you all can see here requirements defects and is saying that sometimes change in the business requirements is also a reason. So in a way you try to blame the business users for this thing. It is one of the factor. Yes. But you you would agree with me Ariola and others. This is something beyond our control to to make uh those those things like like if business keeps on changing the things there's something that we can restrict but some few things are beyond our control. But the thing that's in our control is to do proper detailed analysis, gain proper understanding of the requirements, understand the business needs, maybe then your business users will not come up with um additional requirements more frequently. Maybe you'll be able to win their trust. Yes. So if you're more organized, if you're more structured in your analysis, if you're able to win the trust of your business users, you may find even the improvement at their end as well. That happens. I've seen this thing. I've experienced this in my projects that if you are not organized, they're also not organized. They mean the business users. But if you are coming with more structured approach, even they're also more structured accordingly. Yes. So in our live sessions everyone we will talk about some standard set of practices. We will talk about few important tools and technologies. Few important techniques. Those may help you improve on business analysis capabilities. Those will help you provide a complete solution in accordance with the given set of business requirements. Doing the analysis such a manner that you're able to provide an end toend end to end solution would help you solve the business problems make them realize benefits and the solution would be regarded as a valuable solution a sustainable solution usable for the purpose. So all such things we'll discuss in detail in our live session. Business analysis body of knowledge we'll discuss in detail from chapter number 10 till the last chapter. 50 techniques, 30 important tasks, six knowledge areas, six underlying competencies. These all would help us come up with a very organized approach. Use some standardized templates, sort of important modeling notations. those will help us come up with a better solution a complete solution for the year business problems. So this is the first thing to start with everyone and this was about having these W's on your screen. W's means you are asking questions to gain more clarity, gain more and more information. you are able to draw out, explore, identify the information that is relevant to the change and that's the purpose of having these W's here. But if you observe here, there is one very important W missing here. This is known as five WH criteria. But one W is missing. Which W is missing everyone? Who and who represents? who represents your stakeholders. So we will talk about the stakeholders. Yes, not only the business users. Business users are part of the stakeholder group. The stakeholders can also include your technical experts, your quality experts and others. Okay. So we will talk about the stakeholders as who in detail. how to capture the stakeholder requirements and how stakeholder requirements act as a strong bridge in between the business requirements and the solution requirements. So this was about everyone the five five WH criteria. The next thing on your screen everyone is you all can see here one maroon color or you can say red color lens on your screen. What do you all think is a use of this lens when you're doing your analysis? Why at all we have this lens here? Derra is saying get into the groove of the things deep dive. Okay, I'll take you all back to your eighth standard physics or science subject. Eight standard science. If I talk about any lens, what are the two important characteristics or properties of any lens? Some of you will be thinking, are we in an analysis session or science session? Yes. No. No. I'm asking about the two characteristics. One is one is the magnification magnifier. Another name for it is magnifier. zoom in and zoom out. Another thing is focus. What you are mentioning here is something linked with magnification to dwell deeper to bring in more transparency. Nobody's talking about this another feature that is focus. Focus on what? Focus. Everyone should be purely 100% on the requirements with no with no implementation biasness. Everyone no implementation biasness simply means you are into a lasting role. Yes, you are focusing as Malik is mentioning on the solution and the needs and you are not influenced you're not influenced by a particular stakeholder group. You are a neutral observer bridging the gap amongst all the stakeholders. You're focusing on the solution. You are trying to come up with a complete solution in accordance with business needs with no implementation biasedness. Sometimes what happens is generally BAS come from the technology background or technofunctional background. So they are more inclined. We have to cons I'm not saying that we don't have to consider it. You have to talk to them. You have to understand the ambiguities and their challenges. But at the same time that won't be a compromise with the system or solution quality. I'm not saying that you won't consider their request. You you will turn a def to what they are saying. The only thing is their suggestions, their recommendations should not cause any compromise with the solution quality. Okay. Their solution should make your solution align with the technology but not any compromise with the solution or the you may say components of the solutions discuss very important thing to start with and that is 5W and this processcentric lens I'll summarize what we have discussed so far so we have started with a discussion wherein I mentioned that for any BA it's an important thing to perform research exploration apply 5W analysis with with minimal scope of assumption no assumption your business analysis go that she is she is old so she has experience somebody is new so he won't be able to do the things. No, it's all about your analysis results, your evidences. Those help you take a better decision. Second thing is this processcentric lens. This lens would help you dig deeper into the given problem. Break down the complex requirement of smaller fragments. Do the analysis more atomic level. And when you're doing your detailed analysis, you have to talk to different people and you have to focus on the objectives when you talk to them and not get influenced by them. If you get influenced by them, if you are inclined towards some stakeholder group that may lead to a solution that is implementation biased or business users biased unbiasedness may lead to several errors or issues. So this was about the five WH. So so W is missing here. The the purposes to make you all think and ask such questions. Okay everyone, I hope everybody's with me till this point. 5W and the processcentric lens. Shall we move on and talk about defining needs everyone? Next thing is everyone defining needs. Now when we talk about needs everyone needs can be in the form of problems to be solved or needs can also be in the form of opportunities to grow. So it's about doing your detailed analysis to a processcentric lens defining needs recommending solutions that enables change and this change helps in continuous improvement. Let's take one example everyone to understand what are the enablers and why enablers are so important how they help you bring about the change law and others. For example, if I say the current state or the as state is I'm talking about the uni liver project one example from the univer project current state is that the uni liver employees they're going to the cafeteria to have lunch or to have food. This is the current state and the future state or the change is that you have your mobile phone, you have your cell phone, your smartphone and you're having one app there as canteen ordering system and you're ordering a meal online. Imagine law if you are a BA imagine a business analyst and you have to ensure that nobody is going to the cafeteria and everybody is using this canteen ordering system app to order the food. How you'll enable this change? What are the necessary steps? Those may help you ensure that people accept this change. Employees are ordering the food online and nobody is going to the cafeteria to have food. How you'll enable this change everyone? One of my learner in one of my morning batch in the hours had to say that shut down the cafeteria and they have no other option than to go and order the food online. Is this enabler to shut down the cafeteria? Are we in the Hitler's era? Yes. No, we're not in the Hitler era. We not in 1930s and 40s. um by giving discounts offers and you all would agree with me. This may also include proper training. You have to train your employees how to use it. Yes, training, mentoring, use uh usability aspects a good application to use and offers discounts. And and lawyer very good point that take a tally of those that prefer eating in canteen and come up with certain important offers for them so that it it it it encourages them to use the new app. Yes. So enablers everyone are all those important transition requirements is saying is admin allowed to eat food at the workplace. So that may be part of the policy you may come up with certain important policies. Yes. So that may be the details around your solution requirements loyalty promotions. So in a way everyone I can understand now that you all are very very clear with this topic here. Enablers enablers are all those important transition requirements those may help you those may help your organization transition to a new future state without any glitch. It's a hassle-free and a smooth transition to a new future state. We all need more examples to understand this thing. Let's take one more example or two more examples. We all have witnessed the coid9 crisis. Yes. If I talk about the coid9 example, everyone most of us were working from office. Yes. But during the coid9 crisis, what happened? Was that possible to work from office? No. So there was a change and the change was work from home. This became very popular all across the world. Yes. Since they learned from different geographies, this happened everywhere. Work from home. What was the biggest enabler here everyone? What was the biggest enabler that helped us transition to this new future state project and others? What was the biggest enabler? The biggest enabler was the internet. The biggest enabler was the assets like laptops allocated to everyone. Yes. And even few companies I don't know about others but in my company they provide a reimbursement to purchase the table chair and everything even even for the pen and copy that we use for everything we got the reimbursement I don't know how many of you got the reimbursement for tables and chairs yes so table chair yes they are giving us some bottles and everything to laptop and everything so what are these important things bills Yes. And this is part of everyone business continuity plan. Yes. Business continuity plan. You can see here this was the business continuity plan. Everyone and before the covid-19 crisis when we used to have business continuity plan training sessions people used to laugh. People had never imagined that this these things may happen but disaster recovery is a very important thing. So you can see here this is one enabler. Enabler is all those important things those may help you have a successful hassle-free transition to the new future state. I'll take one more example of the enabler so that it makes so what we have discussed here everyone that business analysis is about research exploration investigation with the help of 5W analysis. This research should be deep detailed. You have to dig deeper into the given problem. Get into the groove of the problem with the help of a process ccentric lens. Processcentric lens signifies here that we are going to focus on the business objectives without any implementation biasedness without having inclination towards any solution delivery team. We are having a discussion. We are acting as a strong bridge in between the business users and the technology experts. This will then help us define needs. Needs are needs are the form of problems or the opportunities to be solved. This will then help us once we understand the needs we can then recommend the solution based upon different types of analysis like feasibility gap, risk, impact, financial and other types of analysis. Once we arrive at a solution, the solution would help us then bring about a change with the help of enablers. Enablers are all those transition requirements. Those may help us have a hasslefree and a smooth transition to a new future state. And this change when we are bringing in this change will help us in continuous improvements with minimal number of defects since we have applied a structured and organized approach. So this is what we have discussed first topic everyone. Now we have to start with the next topic that is who is a business analyst. Let me share with you all one very important link and I get this thing from people here that when I search something on Google, Google says something else. So if you have any doubt everyone or if you have any difficult to understand don't search on Google search on bat times.com don't know how many of you know about this web application bat times.com especially people who are new to the analysis world I request everyone to please click on this link and confirm is everybody able to access this link batypes.com please check can confirm you can give me a thumbs up if you're able to access this link. B times.com everyone is a very good and a reliable resource for any business analyst. You all can see here there are a lot of articles for you all to read. There are a lot of templates that you all can use in your projects. There a lot of events, webinar, conferences, communities, booktore. You may find a book from your trainer in few months. I'm pushing them to add my book as well resources. Now next time if you have certain questions or if you're not clear with something just search it here. The reason why I'm asking you all not to search on Google is because Google is fetching information from reliable as well as some resources those are not at all reliable. I can tell you this thing even this thing happens with chat GPT as well. people search something on chart GPD and they said in charge GP I found this thing and this is contradicting towards in the Babok guide. So it's an important thing that you look at the reliable sources, the relevant sources, the valuable sources and don't pick in the garbage from the internet. So I request you all and especially everyone people who are new to the analysis world if you all can take out some time from watching those irrelevant reals just spend 15 to 20 minutes daily going through this application. Yes spend 20 25 minutes 15 minutes going through this the way you read newspapers. This is a newspaper for a VA and I can tell you within two to three months you'll analyze you'll realize that you know so many things in the business analysis world you have so many things to talk about in the business analysis world. So make an effective use of this thing. If you find something difficult to understand you can search it here and you'll find so many good articles from so many good people all across the globe. Yes. So this is straight from the horse's mouth. This is something that IABA acknowledges and IABA recommends even I'm recommending this thing as a senior trainer. So make an effective use of ba times.com who is a business analyst. Now here you all can see here different color bubbles here. We'll focus on this third one first and we'll talk about the most important thing that is requirements. Elicitation elicits the needs from the key stakeholders performs the elicitation. Now let's talk about requirements solicitation in detail. Let's see what is requirements elicitation how it is carried out what's the practical significance behind it and I'll share with you all one story now that story is something very much linked with your requirements recitation so let's listen to this story and see how many of you are able to tell me the moral of this story is now everyone before I share that story with you all we are talking about the who is a business analyst and there is some very basic thing that I want to start with and discuss with you all before we before I narrate that story to you all the topic is the important discussion item is very basic thing one thing is responsibility another thing is accountability very popular in any project. Responsible stakeholders, accountable stakeholders. What do you all think? Especially people who are new to the analysis world is a major difference between a responsible person and an accountable person or do you all think it is one and the same thing. So the first topic is we are talking about who is a business analyst and here it's an important thing for us to know the responsibility and how it is different from accountability. So let's talk about the responsibility versus accountability. Everyone as for the Babok guide responsibility can be defined as a sole ownership that is a responsible stakeholder will perform the assigned task directly. It means owning the task, working on it and ensuring the completeness of the given task. Responsible person is regarded as carrying some as somebody who's carrying the cross on his shoulders. That is you are doing the execution, you are the owner and directly working on the task. Like BA is responsible to perform requirements gathering. BA is responsible to perform 5W. Accountability can be defined as it is about the peripheral involvement. What is peripheral involvement everyone? You are not doing the things but you ensure that the things are done in appropriate manner. You are tracking, monitoring and performing the evaluation. Accountability also includes providing a better environment wherein responsible stakeholders can work effectively and come up with required outputs. But ideally it will be a good practice if somebody else is accountable so that you can cross check verify and come up with better quality deliverables. That's the difference between everyone responsibility versus accountability. So in simple terms somebody is doing the things he is responsible for those things. Somebody is tracking monitoring evaluating providing better environment. At the end he or she is answerable for those things that may seem accountable. Now let's talk about since we're clear with responsibility versus accountability. Now let's focus on this topic everyone and that is who is a business analyst. And here we'll talk about the responsibilities of the business analyst. We'll talk about the responsibility and one of the major what I think Shivangi you are mentioning few minutes back gathering the requirements doing the analysis and that is something linked with requirements elicitation let's see what is requirements elicitation how it is carried out with the help of one example and this example is from a very popular book I don't know how many of you have read this book how If you have heard of this book, I was fan of this book. I used to read this book a lot during my school days. And the name of this book is Arabian Nights. Yes. People from the Gulf countries from the oil rich nations can easily relate with this book Arabian Nights. Yes. And the good thing with this book is there are lots of stories. Those may inspire you. Yes. to work efficiently as a business analyst. So in this book there was one story there was one story that can be that can be easily linked with requirements elicitation. So let me narrate that story to you all and then I'll ask you all the moral of this story. Yes everyone. So in those days in that part of the road I'm talking about the Arabian road. There used to be one Khalifa. I'll just use the common terminology as king. Although king is not equivalent to Khalifa but one king I'll say okay there was one king and he had three detectives. Three detectives their names were Arabic but I'll just make it simple for you all as D1, D2 and D3. These detectives can be considered as a modernday business analyst and these detectives were gathering requirements for this king. They were having some very good experience. They were providing some very valuable information to the king. This helped this Khalifa this king to run his kingdom in a very proper manner understanding the concerns of people of his country and all such things. One fine day, D1 and D2 got to know through some sources that D3 is getting much higher salary, much better compensation and above all they realized that he's getting huge respect in the eyes of the king. Now D1 and D2 were not happy with this thing because they had similar work experience similar ways of working 24 + 7 for the king. So D1 tried to express his anguish. He wanted to clarify these things with the king. So he tried to reach out to the king and he was about to ask these questions. But king was a very smart person. He knew that Diva is going to come up with such questions. So King said before you ask your questions, I have one important task for you. Would you be able to accomplish this task? Would you be able to complete this activity that I'm going to assign to you? Now this time prestige issue that whatever task he's going to assign it to me, I'll come up with the best possible result. So king shares with him a scenario. King says that as you know D1 that we are kingdom K1 surrounded by kingdom K2 and K3. He said yes definitely yes. He said we got to know that few vagabonds have entered into our kingdom from K2 side. There are few vagabonds here. I wanted you to do some analysis. I want you to help me know who are these vagabonds, why they in our kingdom and come up with all the details around these vagabonds. that I'll do this thing right away. I'll share with you the information in a minimal time. D1 went to that place tried to locate and identify the within few hours he was able to locate them. He then had discussion with those vagabonds tried to get more information that why they are entering into this kingdom. what they are doing here. He also discussion with people around and he also tried to understand whether people know more about them or not. So Dan had a discussion with the vagabonds. He had also discussion with people around the citizens of the country and he came back with some information. King said, "Do you have the information?" He says, "Yes, king. These are few vagabonds passing by our kingdom and they're going to kingdom K3. He said why they going to kingdom K3? He said because they're going to they're going to attend one marriage ceremony. So king said that how much time do you think they'll require to come back? They said within one month within one week they'll come back and they'll go back to their original country K2. King said how many men, how many women are they carrying any instrument at my house? D said I never inquired up to that level. I just know that these are the bags. They're going to attend somebody and come back within one one week's time. So king asked D1 to stand behind the cords. Then D2 came in. D2 also had same set of questions for the king and king assigned the same task to D2 as well. Now D2 went to that place had discussion with these vagabonds had discussion with people around and D2 came up with a lot of information as compared to D1. Kim was asking several questions. D1 D2 was answering all of them. D2 said yes these are few vagabonds passing by our kingdom. They are very jolly nature. They are singing songs. People loving their company. These many men, these many women, they don't have any instrument at Mahamas. They're going to go to kingdom K3 come back and all such details in a very detailed manner. He was sharing with the king and king was also so happy to gain these many details from D2. But then all of a sudden D3 comes in. D3 was not looking comfortable. D3 had a fearsome face. D3 was in a hurry to share something with king. So D3 D3 said please stop that and they don't share this and bull stories with the king. This is not going to help us. I have some very urgent thing to share with king. Now king was not happy with this attitude because king and d2 were having very good discussion. So king said is that really very urgent. D3 says yes that's why I'm stopped in middle. My apologies for that. But I need a very quick discussion with you, a very urgent discussion with you. King asked D2 to stop for a while and say since he had a huge respect for D3, he said, "Yes, please. You may go ahead. I'll share the detail." King when he was having a discussion with D3, D3 comes up with very surprising statements. D3 says that King I was listening to what D2 was mentioning. These are not Vega bonds. And this surprised everyone. D1 as well as D2 as well. Then king said then then who are these people? D3 said these are enemies disguised as vagabonds. They are around 15 to 28 at present. But thousands of them as per my analysis as per my experiments hidden trials I know there are thousands of them hiding behind the bushes in the countryside here. These people are locating our important army positions. These people are trying to understand the different things that they're doing here. creating and defining some strategy and these people waiting for this instruction from these people and they may attack our kingdom at any point of time. So instead of listening to this and bull stories it's an important thing for us to alert our army catch hold of these vagabonds and then come up with a strategy to win the war against these people here. King listens to D3. He comes up the proper strategy and eventually they are able to win the war and then again come up the stabilized kingdom and story goes on from there. My question to you all is what do you all think was a difference between the analysis that D3 has performed as compared to D1 and D2. law is saying D1 and D2 are getting less salary. Less salary means less work. Yes, that's not a right thing to say. I think it's a writer note. But my question to you all is what is the moral of the story law? Why do you think D3 was able to come up with a better solution? How D3 was able to say that these are enemies and why D2 were not able to predict this thing? Understand the problem. If you see here everyone, you are missing one very important thing. You're missing one very important thing that I have discussed in this story Maybe you are like mesmerized by the Arabian Knights. Let me make it very clear. and D2 their analysis was focused completely was dependent. Everyone if you all agree with me in the story we just listened to just that we have discussed D1 and D2 their analysis were completely dependent upon the information that they have gathered from Vega bonds and people around can you depend 100% on your stakeholders for the information the stakeholders may not know about the information. Yes or no? They are own they're your own people but they don't know whether these are vagabonds or But if you look at D3, D3 is performing requirements elicitation. He is talking to people but along with that he's also doing his own research. He's also performing certain experiments. So moral of the story is it's an important thing. It's an important thing for a business analyst to perform requirements elicitation with the help of these three important pillars. Let's discuss the moral of the story now with the help of what they answer is everyone. Among the stories to draw out, explore and identify the information that is relevant to the change. Business analyst should focus upon three things. collaboration that DA and D2 did. They both collaborated with people around in Vega bonds. But along with that, we also have to do our own research. Look at the historically available information. Look at the existing information. Try to do some data analysis. Try to do some exploration. and also perform experiments like hidden trials, prototyping when we are doing all these three things then it is requirements elicitation and this will help you gain clarity around the requirements and then you'll be able to come up with a better solution. So moral of the story is that every BA must cry. Raf next time you get the requirement start crying and then if your manager says why you are crying then tell him that in the CBA certification program the trainer was telling us to cry when you get the requirements. Crime means collaboration, research and experiments would help you perform requirements elicitation in a very organized manner. For example, let's take one more example. Let us suppose I say Vijendra we have with us. We have Rafael with us. Rafael and Vijendra maintain 100% attendance in the live session. Is this good enough for them to become a certified analyst? Is this just enough if you collaborate with me? No, you have to go through the Baba guide. You have to go through the class notes. You have to spend some time going through bat times.com. This is all your research. Go through the bat times.com. Read the articles. Go through the Babok guide. Do not completely rely on what you're getting from the trainer. Complete reliance may bring you to the same level as D1 and D2. But if you want to become a certified analyst like D3, you have to dig deeper into the Babok guide. Go through the class notes, work on your projects on your own, not copy the projects. Those are already there in your drive link. Yes. So requirement solicitation depends on three pillars. That was the moral of the story here. Collaboration, research and experiment. Now experiments we'll discuss in detail with the help of some tools. We'll install and we'll we'll talk about some important tools that may help us create prototypes and also perform internals. Moral of the story is every BA must cry. Okay. When you just focus on collaboration, you are gathering the Sometimes they ask you this question in your job interviews that what's the difference between requirements gathering and requirements elicitation. Would you be able to answer such question if they ask you in the job interviews that what's the difference between requirements gathering and requirements elicitation? Requirements gathering primarily focuses upon a detailed discussion and engagement with your key stakeholders. But requirement solicitation encourage BA to not only collaborate but also do your own research and perform experiments to arrive at a better set of requirements and their corresponding That's the moral of the story everyone. Are you able to understand now what is requirement solicitation? So this is the moral of the story. You all have to remember C R E collaborate, research and perform experiments. Okay. So we have discussed about the requirements elicitation everyone. What we have discussed today as part of elicitation is just as just the uh basic discussion. We have a separate knowledge area chapter number four is specific very very specific to this what we discussed today. So how to cry loud we'll discuss here we'll cry here loudly here we'll cry here the very detailed manner. So here you'll find all about crying in detail. Yes. So it's better to say that BA should perform requirement solicitation. Yes. requirements. So let me add a red heart to this. So shi is given a very good point. So I'll not say it's better to say it's better to practice requirement solicitation. Yes, if you'll just say it won't help. You have to practice this thing as a BA. Requirements gathering alone won't help you gather the requirements. It's good. Gathering the information is good thing. I'm not saying I'm not I'm not against you having a discussion the stakeholders you talk to them. is good but 100% dependency reliance on what you get from the stakeholders is not a good thing. Cross validate do the research perform experiments yes because you cannot assume that what they are getting from the stakeholders is 100% accurate. So so that's the moral of the story the requirements of the key stakeholders. The next thing is everyone discover, synthesize, analyze the information, investigate and clarify stakeholders desires, determine issues and their causes. Last point here one is last point is performs the tasks defined in the web guide. Our next topic, we won't be able to finish this topic today, but yes, we'll start with this topic today. The topic is stakeholders. The stakeholders as we had discussed today in the first half on high level an individual or a group that is directly or indirectly impacted by the need change or the solution. BA is going to talk to them, interact with them directly, indirectly. And you all can see here everyone. There are few blue faces, happy faces. There are few orange or you may say pale yellow faces, lethargic, tired faces. These all are the stakeholders. Yes, perfect. This is a good answer. Thank you. These are external. These are the external ones. The blue faces are the external ones. These are the internal ones. But my next question to you all is when we say internal or external, these are the relative terms. My question is external to what? Internal to what? The correct answer is delivery. People who are directly involved in developing a solution, people who are directly involved in creating a product. These all are these tired faces. That's why these are tired faces because they are working day and night. They are the ones who are developing a And why these are happy faces? Because these are the beneficiaries. They are the ones who are going to realize benefit. They are the ones who are going to use the solution. They are the ones who are external to it. they are the ones who are not involved in directly developing this product. So these are the internal these are these are the external these are the internal and the reference point is the solution delivery. Why not organization? would be the correct answer if you're just focusing upon the IT service industry. But don't you all think nowadays so many companies have their own capital units. It may be that you are working on some in-house product. It's not always that your IT team is your service provider. IT team may also be part of your organization as well. Yes or no? That's why I said organization is not the point of difference. The reference point is the solution delivery not the organization. Okay everyone with me on this thing? Yes. Let's start with our discussion now and let's discuss about these important First a very popular one very common question that I get from the learners is that what's the difference between the customer and the end user or these are one and the same thing. Let's discuss this thing with the help of few examples to understand the difference between the two. Who is a customer? Who is the end user for the internal team and what's the major difference between the two? Okay. So let me take you all your projects. Project number one it is canteen ordering system for unilo. Ahmed and everyone else in this project can order system for uni liver who is the customer for the solution delivery team and who is the end user. Uni liver as an organization is paying for it. They have the legal rights. They are the ones who are owning this product. So, Uni Leo is the customer. Whilst these 1500 employees till the time they are part of Uni Leo, they're able to access this application. They're using it. They're using it. They're operating it. So, they are their users. Similarly, if I talk about MARI and others library management system for the Stanford University, Stanford. Here Stanford University as an organization as an as educational institution is acting as the customer for the development team because Stanford University has the legal rights has the moral rights they have purchased or they are paying for this product but who is using it students alumni faculty or staff these all are the end users. If I talk about WhatsApp pay, WhatsApp pay is owned by the company Meta or the Facebook. But who is the end user? You and me who are using this WhatsApp pay are the end users. Hospital management system for Mayo Clinic. Here the Mayo Clinic is the customer having all those legal rights whilst the medical staff, the patients, the doctors, the nurses and everyone else those all would be the end users. So this was the main difference between the two. Now one of our learner is coming up with a very good question here that in some cases customer may also act as the end user. When customer himself or herself start using the product then he or she becomes the end user. For example, for example, I'll take a very simple example. Let us suppose there's one company Ford. Ford. And can anybody help me know what was the main business model Ford? Why Ford as a company became so popular in US first? What was their business model? Business model was to come up with cheap cars. Cheap in the sense with very low prices. Yes. the the the cars with low prices as compared to companies like you may say BMW or Mercedes and others they came up with the business model to produce and manufacture the cars with lesser rates so that it's easily affordable to a common person that's why it became so popular in US first and then different parts of the world so food if I talk about food as a company and if I say Today I Isa or Pavi they pay for this car and they become the owner for it. Yes. Isa and Pavi are sitting on the back seat and there's one driver driving it. Then Issha and Pavi are the customer for Ford and this driver is the end user. But there's no driver in this car and Issha and Pavi are themselves driving this car then Issha is customer as well as the end user for food. Are you able to understand this example when in which all cases customers also acting as end user? So somebody's paying for it and they're also using it. Then in such cases customer is uh customer is equivalent to the end user but in most of the case it happens that end customer is purchasing it while somebody else is using it. Yes. So that's about the customer and the end user. Everybody with me on this thing or loving this thing? Yes. Now, now let's talk about let's talk about the last topic for the day and one last story to share with you all and that's related to regulators. Since there are so many learners here joining from the North American region, so many people here from USA and Canada here. So I'll share one story from 20 years back. I'll take you all back to the year 200 7 and 8. 2007 and 8 everyone or I can include nine as well. These three years are considered to be bad for the business all across the globe. This was a period of great recession. Yes, great recession. And can anybody help me know what happened in US in 2008 and 9 that was the major reason for the recession. Yes, it's also known as the subprime crisis. The subprime crisis or as Vijend is mentioning here the Lehman brothers collapse. What was the main reason everyone behind the layman brothers collapse especially people are joining here from US. I was part of one of the Europe European bank then and we had a very strong relationship with this financial institution. Yes. How's the market bubble somebody's talking about? Yes. What is this housing market bubble everyone? What happened everyone? I'll just make it very short since we're into last 50 minutes. layman in those days in that part of the world I'm talking about the North American world real estate business was at its peak most of the people all across the world were planning to settle in US was considered to be a heaven for people to live and there was a mad race to leave their native nation and go to US and settle And what happened because of this and and and also US government opened the doors for everyone that you all can come here invest and live here especially the skilled people. As a result of that there was a huge you may say exponential rise the real estate market and layman bidor thought of making a lot of investments in the real estate business and they had huge investment in the real estate business due to some reasons due to their some of their bad decisions you may say or some market speculations they started to like lose the trust of their investor tors people were not only people but the corporates the companies started to withdraw their investments from this financial institution even in my bank wherein I was working as an operational you may say somebody is into business operations as a very you may say new person in the corporate world we witnessed that all of the people were like all the banks were willing to withdraw the investment from this lemon brothers As a result, what happened was they were short of you may say funds and I'll use one term from the banking word liquidity. Liquidity was causing problems. They never had cash or cash equivalents to return to their investors. As a result, what happened was they started to sell their properties, their investments in real estate business. And then what happened when they started to sell the things there was a subsequent haircut in the real estate business. What is a haircut? What's the meaning of haircut in the real estate business everyone? Haircut simply means when there is a significant drop in the prices of the real estate properties because somebody is selling it on a massive scale. Now what happened was they were selling the things they not getting the actual price of what they had invested as a result they were not able to clear the depths and then eventually they were declared bankrupt they their their bankruptcy led to the hu huge recession all across the globe and then there's a place in Switzerland yes the name is Basil some people say basel in India Here there was one committee that was established and the name of the committee was BCBS Basel Committee for Banking Supervision and they came up with some important principles and it was made mandatory for all the European banks. It was made mandatory for all the North American banks to follow those norms. There were clear instruction that if you don't follow these norms, your license will be revoked. And here in India as well, we all follow. Now the Reserve Bank of India has accepted these norms. Here in India as well, we follow all these norms. So what is the importance everyone? What is the important significance of regulators? Regulators are going to come up with all those important policies, rules, regulations. Those are going to help you avoid the uncertaintities in the business. those are going to have they're going to help you ensure that your solution is within the given limitations and it's it's aligned with the policies of the organization the country and other parameters for example if I say I'm talking about capital market here in India people joining from India what is the name of the governing body the regulatory body that governs the capital market here in India India CB yes security exchange board of India CB if I talk about the banks nationalized or the private banks then what what's the name of the uh the regulatory body it's the RBI yes similarly in UK and US as well we have different bodies monitoring the activities of different people like in is anyone joining here from UK in UK I work with the HMRC her majesty Queen Elizabeth department HMRC now it's the name of the king after the death of the uh queen so HMRC is about the tax collections in UK and they come up with all those norms for the tax collections so meaning to say regulatory bodies play a very important role when they talk about policies rules compliances and other things. And here we had discussed about the very first thing the very basic topic to start with. We have discussed about responsibility versus accountability. Responsibility is more about the ownerships working on the given task directly. You own the things you work on it complete it. But there's some other person, some other group who is tracking, monitoring, evaluating what you are doing. Also providing better environment facilities. Those may help you work efficiently and that group is the accountable group or people who are accountable for what you are doing as a responsible person. So accountability we had discussed more about the answerability while responsibility is more about the ownership. And then everyone we had discussed about requirements elicitation yesterday. Requirements elicitation is to draw out that is relevant to need change or the And yesterday everyone we had discussed about three important pillars to Pillar number one, pillar number two, pillar number three. Whenever you get some requirements to analyze, you start crying. When you are crying, it means you are collaborating with your key stakeholders to gain more and more The stakeholders may not know about the full information with the project and others maybe that the stakeholders are also new to this project. So it's also very important that along with collaboration gathering the requirements you also do your own research. Now for research in our sessions to come we'll talk about the historical data analysis using data mining data modeling data flow diagrams how to look at the existing stories in the shareepoint and Jira and other tools. So research is more about analyzing, discovering the information, synthesizing the information, looking at historically available information, getting some insights from the existing data. Those all things would be part of the research. Research can also be in the form of document analysis. Let us suppose I say I share one topic with you all and Kitika and Projecta sharing this or like Kitika and Project search this thing on bat times.com. Don't you all think if Paka and Pritika are looking for the information on bat times.com this is also kind of a secondary research when you look for something Yes. on Google or some other external source. Yes. So if you're doing your research as I mentioned yesterday do not directly search on Google because it may come up with some contradictory information that's not the right information. So if you're doing your research after the live session prefer bat times.com okay that's the best way to do your own Don't go over chat GPT and one more thing yesterday somebody was asking me this question that what's the role of AI in the business analysis world if you search something on chat GPT or any other AI tool once you get the answer you should also ask them what is the source from where you have picked this information and always cross check the source before you accept accept what is the answer from Chad GPT. Okay, I can tell you my experience. We were using chat GPT in our project for some very important projects but we found around 60% of the information was not correct. Yes. So, so be very careful, be cautious when you are like searching something on chat, Jupiter or any other AI tool you think it. So, so AI is good but blindly following what AI is doing is not the right thing to do. Ask AI from where you got this information. Okay. So, so that's why it's an important thing that when you do your research, you search for a reliable source. And then the last thing is experiments. In the experiments yesterday, we had discussed about that we'll discuss in our sessions to come. How to create the PC's, prototypes, uh the MVP. Yes. So everyone we had discussed about the requirement solicitation the three important pillars to it. Then we also discussed about the structure of the Babok guide the business analysis body of knowledge and here we are discussed about few important things dash many knowledge areas dash number of tasks dash number of techniques and dash number of underlined competencies. So let's talk about the BACSM model. Now, now before we start with this topic, I'm coming up with one statement and you all have to my statement is backup model the BACCM model is considered to be an icebreaking step, a trigger to understand the highle requirements those can be then transformed into the low-level requirements. what are the highlevel requirements and how these requirements are different from the low-level requirements. Backup model is going to help you gain clarity around the highle requirements. What are the highle requirements and how these are different from the low-level requirements? What are the highle requirements and how these are different from the low-level requirements? Now is saying highle requirements describe what the business needs are. Okay, perfect. His guy is saying highle requirements are ones which has maximum reach and has severe impact on business. High level requirements where multiple stakeholders required to involve high level requirements usually or combination of many low requirements. Yes. So high level requirements everyone is considered to be the top view sorry top view or the bird's view when the requirements are mentioned the form of an overview or summary. This is termed as a highlevel requirement. Highle requirements can be categorized as bird's view or a top view. Any BA needs to break it down and capture the details in more granular, decomposed or fragment form. This granular form of requirement represents the low-level requirements. For example, let us suppose let's take one example to understand this thing. Yesterday I given you all one homework to select any two projects of your own choice. How many of you are going for the last one HMS? You all can just give me a thumbs up. learners will prefer to go for this last one. HMS from healthcare in healthcare one project number four. Yes, Gonima Lord you all are going for HMS and HMS is a very good project I must say. So you have made a very good choice. HMS is one of my favorite project and it's good for people who are new to the analysis world to select this one HMS. It's one of the better projects. So let us suppose I see everyone the example is that you have to develop the hospital management system. When we say we have to develop when we have to u create this product HMS this is the high level requirement for us just the summary that we need to develop an advanced solution HMS law comes up with the detailed analysis and says that for HMS the very important thing is the patient's registration Patients registration would include the name of the patient, their medical history, their contact details, their residential address and other scan copy of the existing tests or existing consultation with other hospitals. Once they submit these details, one patient ID would be created, one unique ID. This unique ID would help them get the appointment with doctors. Consultation with doctors. For consultation with the doctors, they have to come up with the time slots. They have to pay that fees. They have to visit the OPD and other things. Then after appointment with doctors, what else can be part of it? lab tests, laboratories, yes, blood test and all such things, radiology and all such things. Then medicines, then something else. When you are decomposing this summary or highle requirements into smaller fragments, these all represent your lowlevel requirements. So I am more interested in payments. That's why payments I had mentioned here itself before we go to the medicine part. Okay. So payment is first in sense itself. Yes. So so payments is a very important thing that you are mentioning here. Yes. So HMS we are trying to come up with someone is mentioning about the companies like Tokyo. Yes. Uh and other companies. So uh the insurance reimbursements and all such things may also be part of it. So meaning to say and these are the details. So when we are dwelling deeper into the details in a way we are focusing we are trying to define the low-level Highle requirements simply means a summary overview or just a top view. But low-level means you are doing your detailed analysis. You're breaking it down into smaller fragments. Okay. Now I would also like to share with you all everyone one very important tool that may help you create the low-level requirements. So let me share give me a second. Let me open one good diagram and then I'll share with you all. Just allow me one more minute. Just let me open the good one. So this is what one thing I want to share with you all here everyone and this is a very good yes kind of a use case you can say this is one very good tool everyone and the name of the tool is create now create tool everyone this helps you not only create some good visuals but they also share with you all some sample or some examples Those may help you understand how to use a given template. Like if I click on this one, if you see here, let me increase the size here. You can see here, let us suppose I say you have to create a website like the canteen ordering system. Now you all can see here that for this website you have to create one homepage header sidebar logos header should include logos navigation. So you can see a breakout. This is the main topic. This is the main topic. This is the subtopic. subtopic into further subtopics and that way we are able to come up with low-level requirement. Creation of a website is kind of a highle requirement for us and with the help of creately tool we were able to functionally decompose and come up with the smaller granules in the form of low-level requirements. Yes, everyone. So if and and this is very important for you all to know how to do such thing because now in the agile world they want this is the expectation from a BA to create something on these lines to represent high level and lowle requirements. So creately tool you all can try as a basic tool to start with and you all can see here everyone on top you have the option to edit this template. So you can also edit this template and customize it as per your requirements. So there is one task everyone in each and every project and the task is if you all look at your LMS the task is write down the main feature that needs to be developed. If you'll edit this one, double click and edit and you can create your own feature list here. So you you just simply need to click on edit and you can edit the text here and make it as your own template. So for create need to work you can any you can open any template click on edit and then double click and change whatever you want to like you can make it as canteen ordering system yes shank and others you can make it as HMS okay so whatever you want to you can you can play with this if you want to add few things just C and Ctrl + V and you'll find that there'll be uh more icons here. So, you can play with this tool. Yes. Don't don't pay for it. Just use the U trial version for it. Yes. Don't pay for it. And you'll also find some videos. Those may help you understand this tool better. You have so much that you can do. I just mentioned one. But Creately, you can see here. I'll just open the Creatly tool. There are more than 120 plus templates here. So I show you the Ply tool even see Visio is that I was using 20 years back till date V is used. So Visio is the pioneer tool I must say but since Visio is the traditional tool there's so many companies who are like planning to transition from V to some new tools with better uh visualization. So vis is the best one I must say but but you can use other tools. Yes, because these are getting more popular nowadays. So you can see here Lucid is also a very good one. Yes, Lucid. We'll discuss Lucid. We'll talk about Lucid as well. So I have Lucid in my list. So we will talk about Lucid as well. So Lucid chart is also a very good one. BPMN we'll discuss using delucid draw io as well if you see here draw is already there on my screen so we will talk about all these tools so you have to hold your horses we'll talk about all such tools yes this is drawio this is your list one that we'll discuss this is the creately so one by one step by step we'll cover all these tools so for today just the very small homework the very simple thing is that using the mind mapping templ template create the feature list. Is that simple for you all? Yes. Just use this template and create the list of features. And you can see here that I just show you one of them. If you think that if you think that you you want to use some other other uh template, you can go to this WBS and you can use some other template as well. So as when you open hand whichever one you think is good one like if you want this the curved one you can use this curved one this is also good one if you see here this curved one project title 4.1 4.2 to this is also but the important thing is important thing is for you to know how to decompose the things okay now there can be different types of maps that's for you to explore and do the research the concept is the main thing is that you know the high level requirement and using different types of map you're able to decompose it okay getting it but We but do we give the input to this tool and generate the template with the generated? Yes, definitely yes you can do that. You can give your inputs but it will not generate it will just you can simply edit or if you find this tool a bit complex you can I I'll share with you all the very basic one app diagram the draw.io Here you can create your own. You'll not have any sample one to edit. I've shared with you all this one because here you'll get some sample templates to refer. So you can explore creately. If you find this good, you can use this one. Else I'll share with you all five to eight more tools. Those may help you come up with some better revenge. Okay everyone? So is everybody clear with the difference between the high level versus low-level requirements? If somebody asks you this question in your job interviews, especially people who are new to the analysis world, would you be able to answer such questions? Highle requirements versus low-level Yes. So that was about everyone the high level versus lowle. Now let's drill deeper into these core concepts here and let's talk about these six core concepts. First one is everyone the needs. Yesterday everyone we had discussed about the needs and those are all in the form of problems that we had identified in the uni liver project. Today we'll discuss another project wherein you'll find that there is no problem as such but there is an opportunity to grow. So let's discuss the second project now and see what are the opportunities and what is their business model. Okay. And let's talk about project number three in the list WhatsApp pay. And let me increase the font size before we start discussing this thing. WhatsApp is a messaging voice over IP service owned by Facebook. Now when we had created this case study 6 years back the name was Facebook. Now the name has been changed to Meta. Yes, Meta is the parent company now and Facebook and others are the subsidiaries. It allows users to send text and voice messages, make voice and video calls and share images, documents and other media. WhatsApp runs on mobile devices but is also accessible from desktop computers. WhatsApp has over 2 billion users worldwide as of today and it has become the primary means of electronic communication in multiple countries across multiple continents including Latin America, the Indian subcontinent and large parts of Europe and Africa. Today the global the the the globe uh today cause the globe people are moving to digital payment services such as Google pay, PayPal and others. Mobile wallets are in massive demand. The transaction value of global mobile payment market is around this much USD in billions in 2019 and expected to reach 12,000 plus billions by 2025 registering the compound annual growth rate of 23.8. Now what is CAGR? This also we'll discuss in as part of finia analysis and will solve some medical problems. WhatsApp being one of the leading mobile messaging apps wants to get a slice of this growing digital payment market. Now everyone when we read this thing together in this case study when we look at the high level requirement law share and everyone else do you find any problem or challenge with this company meta or do you think they are looking for some good opportunity to expand the universe of their business. So here are the business needs in the form of problems or the opportunities to grow. Yes, there is an opportunity for them to to take a plunge into the digital payment market. Yes. Now I have one looking for the opportunities to expand their business. Nikita Malik. Yes. But I have one question for you all. Think logically and answer my question is when they entered into the market for them the benchmarks were Google pay yes I'm coming to that point only there was a competition or they had the benchmarks like Google paypal and others but they had a different strategy everyone if I talk about Google pay. This Google Pay is one app that is 100% dedicated or 100% full focus on payments. PayPal full focus on the transactions and payments. But but never followed their business model. What WhatsApp did everyone? What WhatsApp what they did instead of creating a new product they simply made enhancements to their existing app and they added one button or icon as the fund transfer. Now my question to you all is Mark Zuckerberg the Facebook is one of the richest person on the planet earth. He has no scarcity of budget on budget. They are coming up with the new product. They could have launched new app. Why do you all think they never came up with a separate dedicated app for payments? Why they integrated and made their existing app more complex? Why there was enhancement? Why there was a not why why there wasn't a new product being launched? What was the main reason? Radika is saying they wanted to exploit their huge customer base. But okay when when when this case study we had created it was in the year 2018 I believe or 19 when we had documented this thing. Now we are in 2026 8 years. 8 years back we had documented this thing. After 8 years, do you all think it was a good strategy to to uh add one feature to the existing one and not create a separate product? Do you think this WhatsApp WhatsApp pay business is more successful as compared to Google Pay and PayPal? Is there anyone who has any sort of statistics to compare which which payment which payment related company is earning better revenues? Which which payment app is more successful? Everyone can anybody help us know? Google Pay is more successful. UPI, Google Pay are more successful and and they are not able to compete with these people. Why? What's the reason? Reason is reason is Apple Pay, Google Pay, these all are more successful. The very important thing that sometimes we miss when we coming up with the solution is the value. Value everyone is usefulness to the stakeholders within a given context. If you are just trying to exploit the huge customer base that you have and not providing a usable product to your customer, eventually you'll find that there will be a significant dip in your revenues. I'll take you all back. I'll take you all back to the year 2006 7 again and I'll just talk about one very popular company then and the name was Nokia and if I talk about 2023 onwards it is there in the market but it has hardly any presence. What happened with the Nokia business? What do you think if there was sudden collapse of complete demolition of such a huge empire? If I talk about 2000, 2002 3 here in India and Indian subcontinent, you all would agree with me Nokia was the undisputed leader. But what happened with Nokia? The main thing was the adaptability was Akash is mentioning here in those days. In those days there was one company becoming very popular and the name was Google. Google came up with two very popular products then. What was those two popular products launched by Google in this era? One was Chrome and another was Android. Yes, this chrome was like accepted by everyone. People loved this and this was coming as a very good replacement to traditional Internet Explorer and even the Mozilla Firefox and similarly Android Samsung accepted it and they had better revenues and what they did they had a collaboration with company Microsoft. Yes. And they came up with the product Lumia and that was a disaster. So meaning to say the usability aspect giving value to your customer is also very important thing to consider when you are analyzing and and law says that even Apple had a very significant role to play once they came up with those smartphones. So there are several factors. I'm not saying there one factor but there are several factors to it. And in the same era I mean there are a lot of things that happened in this era. If I talk about here in India not just India if I talk about globally 2007 and 8 or I can include nine as well. Seventh richest person in the world. richest person in the world. His name Mr. Anil Amani from India. Seventh richest person. His brother was third richest person. Then seventh richest person 2007 8 and 9 this era. Now in 2023 he was declared bankrupt. What happened with this business? What happened with Mr. Armani and why? What was the main reason for the collapse of his business? The main reason was again the adaptability. The main reason was everyone that in those days there was one technology that they were using and that was CDMMA. Then the new technology came in as GSM then 3G then 4G and all and it took time for the company to take a decision to transition to the new technology adapt to the new world and that was a major reason for the collapse of their business. So what you try to understand everyone here is the very important factor as part of the BCC model that is value along with the opportunities that you have as law is mentioning here instead of show off instead of just promotions it's also very important that you think about the value usefulness to a stakeholder within a given context. test. Customer value and business value are two important components to it. Customer value is about how well you're able to come up with a better quality product. Product that is usable for the purpose, sustainable, usable. If people have some feedback or comments, you're able to make certain adjustments. So customer value is very important like you all must have observed this thing that even in our live session during the break we request you all to participate in the polling activity and after the live session we ask you all to share your valuable feedback. What exactly is the reason why we are having those two activities? Yes. So creating demands is something very important. Yes. But it's an important thing that you also consider the value parameter. You can promote your product. You can you can do a lot of things to increase the demand. But but if you're not giving value to your key stakeholders, are those promotions are those tactics to increase the demand work in the long run? No. So the important thing is that you focus on both customer and the business value. So let's read few things from the map guide to understand what is this value parameter and why it is so important. Yes, I'm coming to context as well in few minutes. Let's first talk about the value one everyone. Let's finish this value first first and then we'll talk about the context as well. So value everyone if I take you all to session two notes topic number one value parameter value everyone is the usefulness to the stakeholders within a given context. Next usefulness can be defined with the help of two important elements everyone. Business value and the customer value. Business value everyone it is associated with cost structure and revenue streams. Now in our sessions to come possibly in our next Sunday session we'll talk about how to calculate ROI, payback period, present value, net present value, internal rate of return. These all capital budgeting techniques everyone are going to help us estimate and calculate the profitability and gain margins. This is one important thing to consider as part of business vending. Another important thing is everyone the customer value customer value everyone is about something linked with the quality of the The product or solution features must drive customer satisfaction and and I can see that so many people talked about the usability. Let's see who talked about it. Loyalty you talked about it and somebody else also talked about usability. I remember somebody talked about it in the chat. I can yes e easy to access as kl mentioned madi talked about trust and somebody had mentioned about usability as well. So you can see here Akash is saying it's more about marketing and not just need. Yes. So it's a very important thing that we combine all those things together so that the customer value is achieved. It is associated with the quality of the product. Product or the solution features must drive customer satisfaction and the solution must be usable for the purpose. hair house of quality akash and everyone else the voice of customer are the two important things to consider. Now what is VOC everyone? VOC is very common activity in most of the projects. What is VOC? VC is about the feedback, the reviews, what else, those important comments that you get from your key stakeholders. So review comments and the feedbacks. House of quality is going to be like all those important functionalities, features those may drive customer satisfaction. And this house of quality leads to minimum valuable product. Now what is MVP? I've given you all this as homework to read. So MVP is something that you'll be able to come up with if you're able to come up with proper customer values. So value everyone and to summarize value can be considered as a combination of business value and customer value. Business value is more about generating profits. Customer value is about maintaining the voice of customer and also the house of quality. Yes. So this is a nutshell the value I'll take a pause here wait for your questions before we move to one question I'm going to share with you all. So please read this everyone. Ard is saying that customer value like that's that's okay let me let me ask this question to everyone when companies like Jio come up with free internet is that the customer value or the marketing strategy this is not something as you can say it's related to customer value but it's more about it's more about it's more about marketing ing your product. It it is something linked with customer value for sure but it's not about bringing in value. It's more about increasing the demand. Okay. So it's about increasing the demand but but the important thing would be that you provide the better quality internet. When you come up with a better quality internet, better services, that's something that contributes to customer value. Okay, getting it. So, so sometimes it's a mix of the marketing strategy and the customer value. Sometimes we think it's a customer value but it turns out to be the cheap tactics. Yes, that fails later. So some in in few cases marketing strategy is disguised as the customer win. So we have to be very smart to to check and differentiate between the value. Okay. It comes under business value. Context everyone is a very important thing. circumstances that influence or are influenced by and provide understanding of the change. Context is about everyone yesterday if you all remember. So what is the context everyone? Context is going to help you understand the background, the existing behavior, what exactly is happening in the current behavior that may help you come up with a proper definition of business needs. Context is something that will help you understand what are the existing how organization operates at present, what are their strengths, what are their weaknesses. That way you'll be able to understand what are the important business drivers for the change. Is everybody with me on this thing? So context is a very important thing to analyze first. When you analyze the current state, it will help you then define the context. Context is going to help you understand the business objectives, the business drivers. Yes. So that's why context is important thing when you are analyzing the highle Is everybody clear with this thing? Vijendra I think you had this question on context are you fine with the answer now? Yes, everyone. So, this is your BCM model with six core One more example. Okay, let's talk about let's talk about the WhatsApp pay in WhatsApp pay Vendra and others. What is the context for the change? Why Meta as a company is planning to launch a new app or planning to launch a new product? What's what's the context? Context is anybody help me know what's the context? Har has a very good point digital payment. But why at all the digital payment? why why at all they're bringing about a change or why at all they they think that this is going to be a good business for them. There are several things if you see here. First important thing is that globally people are transitioning to the digital payment process. Nobody is now willing to pay the cash from their pocket. Simply they can scan the code and they can pay for it. So it's easy. The people are switching to digital payment. So it's in demand. So that's why they're going for it. And they also have a huge customer base. So they think this will be a profitable business for them. Yes. But ultimately that was not the good business for them after 6 years or 8 years. Okay. But still they are earning good revenues from it. So context is going to help you understand why a change has been initiated. What were the key business drivers behind it? Okay. So so that's about the context. Har is saying that send money to family friends while chatting and while watching ress yes I'll add one more thing at the same time. Yes. become a very integral part of everybody's life. So, so yes, perfect. Yes. So, you can see here that that context is going to help you understand the background and this will help you understand what are the key business drivers and that way you'll be able to then define a proper solution. So, that's why context is so important. It will help you in simple way in in simple terms context is going to help you understand the existing behavior the current behavior the asis state the background and then you can easily come up with the complete definition of need and then the corresponding solution okay getting it vijend I can give you a few more examples if you're not clear with this thing. I have few more things more few more examples if you want to understand context better. Yes. No. Okay. Perfect. So we we are done with this topic now. BCCM model learners who are preparing for the CCB and CBA examination. You all can create one short form to learn this thing as N CS and CVs. N CS and CVS are the six core concepts need change solution context value and the key stakeholders NCS and CVS. Yes, everyone with me. NCS and CVS. Okay, the next topic is relatively more important everyone and that is the classification. Here Vij and others will discuss about context one more time with the help of one BD template. So you'll understand context better once we'll talk about BRD in detail. Okay. So we'll revisit context one more time. Requirements classification schema is our next topic. And you all can see here four different types of requirements, business requirements, stakeholder requirements, solution requirements and then the transition requirements. Yesterday we had discussed about the transition requirements in the form of enablers. So today we are going to focus upon these three that is business stakeholders and solution requirements. Business requirements everyone and the stakeholder requirements these are combined together and they're documented in one standardized template and can anyone of you guess what's the name of the template the business analysis standardized template that captures both business and the stakeholder requirements yes absolutely wonderful answer Dennis and Ahmed answer is B R D BRD is one standardized template wherein you'll find a complete description of the business requirements and the stakeholder requirements. Business requirements and stakeholder requirements. These are also known as the highlevel requirements. Here you'll find some summary, some short descriptions and then when you perform your detailed when you apply several important techniques, it will then help you break down this BRD into smaller fragments. And this fragment level information is your low-level requirement. And this is defined as the solution requirement. solution requirement. This is a very good question that you are asking me and I'll come up with the answer in few minutes. Solution requirements. Solution requirements everyone is nothing but the low-level details. How well you are able to break down the summary the overview into smaller granules. How well you're able to come up with the details around the BRD and solution requirements include functional and the nonfunctional requirements. So, Pritika will take one example. We'll now discuss on sample BD. So this will help you understand a very better manner of what exactly the BD represents and what exactly business requirements represent. So let's discuss one sample B now and then you'll also get the answer to your question law that who is documenting once we'll discuss the B components you'll get to know that whether your business users are writing it or the BA is doing it. Okay. So let's discuss on sample B now and with the help of BR let's see what are the important components to it who is writing it why we are writing it and what's the practical significance behind it all can see here project summary objectives and then at last you'll find the Business drivers objectives should describe how this should describe the overall goal in developing a project. Highlevel description just the highle description not the details. highlevel descriptions of what the product will do, how they're aligned to business and the requirement for interaction with other system. This is also very Second thing is everyone the give background. Background everyone is about if you look at this explanation here provide a brief history of how the project came to be proposed and initiated including business issues problems identified and expected benefits of implementing the project and developing department and last thing is business drivers. List the business drivers that make development of this product important. This can be financial, operational, market or environmental. And Vij you had this question on context. These three things you'll be able to define if you know this core concept context. Yes, Vij with me on this thing. So context if you know it will help you define the objectives that what product is going to do how they're aligned to the business and how the requirements are going to interact with other…

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