Essence of good business analysis – Make your data gathering more efficient

Essence of good business analysis

Accumulate, analyze and evaluate information. These three words lie at the heart of business analysis.

How does it help you? Business analysis solves problems and improves the overall productivity of your organization.

To achieve this goal, you need relevant and reliable data. In a rapidly evolving business environment, companies hire business analysts for effective information gathering. A business analyst must choose and implement a system that accomplishes a basic aim- Appraisal of data for faster decision-making.

Most companies now have to deal with big data or huge amounts of complicated facts. So they employ more than one system, making productive data collection and integration a challenging task.

You may face the following challenges in efficient accumulation:

  1. The information is not relevant to begin with
  2.  It is measured incorrectly
  3.  By the time the data is analyzed, it becomes irrelevant

Getting it right

If data is collected in real-time across locations, you can make strategic management decisions to:

  1. Increase organizational growth
  2. Reward high performers
  3. Explore better ways to overcome business challenges

Business analysis then becomes seamless and greater productivity is guaranteed. This ensures you beat your competitors with high profit margins.

There are two prerequisites for effective business analysis:

  1. Availability: Relevant, recent and updated data should be available
  2. Standard matrix: The factual information must have a common basis/measurement matrix across locations and business units, allowing management to make decisions easily. For instance, if you are able to measure global productivity uniformly (irrespective of type of work),data analysis becomes simpler and more accurate.

By using one tool across locations you can put in place a measurement matrix that will allow you to:

  1. Focus on core tasks
  2. Reduce non-productive activities
  3. Make the organization more open and transparent in decision-making

New business software and technologies are always entering the global market promising to do just this. With a variety of options to choose from, it becomes difficult to decide what is best for you.

Pioneer in collection and analysis

“Immediately after we rolled out the Replicon time tracking software our users have verified the ease of use of the system. It’s easy for the management team to ask for accuracy in the data entered. With this system you can really measure the efficiency of our people and we can also measure the accuracy we achieve in our effort estimates.” – Nicola Zarrilli, Fujitsu Services

Fujitsu, a leading IT solutions provider, is just one of several satisfied customers. With over 1.5 million users, Replicon’s time and attendance software is the final word in efficient data collection for effective business analysis. It builds business applications using hassle-free timesheet software.

Economical systems like TimeBill and TimeAttend guarantee reliable data with reduced costs, resulting in high productivity. They are flexible and ensure error-free results. Even if you make a mistake, the hassle-free solution allows you to correct it without any difficulty.

This makes it a standard matrix that can be implemented across projects and locations. Marrying accuracy with ease of use, Replicon will take care of all your business analysis needs – now and in the future.

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ABOUT THE AUTHOR
Paul Boscacci
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