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The Great Shift of Business Analysis in 2023

The Great Shift of Business Analysis in 2023
HOW DO WE NOT JUST CREATE RELIABLE AND FUNCTIONAL SOLUTIONS BUT ALSO STAY COMPETITIVE WITH CUTTING-EDGE ONES? HOW HAS THE SKILLSET OF BUSINESS ANALYSTS EVOLVED? UNCOVER FROM OUR CHIEF BUSINESS ANALYST OFFICER, IRA LIUBINETS.
Iryna Liubinets
Iryna Liubinets
Chief Product Management Officer
OUTLINE

Linkup Studio has already published articles featuring our C-level executives, including Outlook from the CEO, New Design Approach from the CDO, and CTO insights for Development. They all describe our company's services and strategic direction from different perspectives. We're eager to present the latest article in the series - Business Analysis in 2023.

From Working Product to Exceptional Solution

Simply creating a functional solution is insufficient. It should meet the demanding needs of users and add value to the business.

That is the essence of the business analysis shift. Further, we will explore this concept from multiple angles.

The COVID-19 pandemic has altered the way people interact online. Their primary need has shifted towards accessing high-quality services and purchasing goods conveniently from the comfort of their homes. This trend has forced businesses to undergo complete digitalization, including the launch of new platforms, web and desktop applications. Establishing a strong online presence has become a vital necessity for companies to remain competitive and effectively conduct their business. Online customer engagement has evolved from just an additional feature to a mainstream requirement.

A business analyst (BA) is crucial to success in modern projects. At Linkup Studio, our BAs not only manage requirements, deliver proper project documentation and coordinate other teams to create working solutions but also discover and invent ways to make clients' products stand out among competitors. This process includes in-depth research and considers many parameters, such as identifying accurate personas, analyzing market and competitive trends, brainstorming unique “killer” product features, designing a proper info structure and platform architecture, and defining additional functions for product scaling and upgrade.

Examples

Here is an example of a platform in the beauty industry app. We added an Augmented Reality integration that allows users to try on beauty products and see their expected effect on the body or face via 3D models through the front camera. Users can then order the products they like online.

For a marketplace, we implemented a feature that allows users to contact sellers via video chat to ensure the product is satisfactory.

Mentioned features significantly contributed to the project's success at that time.

Facilitation of Cooperation

Effective business analysts are proficient in multiple languages, including those of clients, designers, developers, testers, and other project stakeholders.

Above mentioned Covid-19 has transformed the way people do business and collaborate. With everything now being conducted online, many challenges exist, especially when managing multiple projects simultaneously worldwide. How to ensure everything operates smoothly and stays organized?

At our company, we have established a well-adopted plan and flow of communication, including written schedules and tasks for each project stage (discovery, active development, and support) and a RACI matrix to clarify responsibilities. Moreover, our business specialists ensure they are on the same page with all teams and stakeholders, understanding the unique characteristics of each group's tasks, tools, and approaches. They forecast approximate outcomes and communicate effectively, explaining information in different ways to match each recipient's standpoint. To achieve this level of expertise, we provide ongoing training to enhance our specialists' skills and product-oriented focus.

Step-by-step AI & Machine Learning Implementation

Our priority is delivering tangible benefits to clients rather than simply chasing the latest fads.

Many companies rushed to implement the latest AI tools and sold services without properly understanding their impact on quality. At Linkup Studio, we take a different approach. We thoroughly evaluate new tools before integrating them into the workflow to ensure they meet the company's quality standards.

Recently, some clients have requested AI implementations. We have suggested alternative solutions as we weren't confident in the results or their performance. However, we see the potential of AI and have gradually started incorporating it into our business analysis tasks. This includes simplifying product research and gathering data on target users and industry trends.

Furthermore, we are exploring new tools to handle routine tasks that can be easily delegated. For instance, we are experimenting with AI technology that records meetings and generates summary notes, which helps to save time on writing follow-ups.

Check out our article on adopting AI and neural networks in design work. Soon the entire Linkup Studio team will be fully proficient in it.

Expanding the Business Analyst Functions

We have shifted our mindset from the traditional "start-to-finish" approach to observing ever-evolving products with vast prospects.

In recent years, the Business Analysis team at Linkup Studio has adopted a new project approach. It is especially crucial in the initial stages, such as Discovery, as it plays a significant role in building meaningful solutions. Business analysts now adopt a product-oriented mindset, which helps to view the product as a market player and evaluate its potential beyond time and other resources.

There is a high demand for specialists who are able to work with data and make data-driven decisions based on reliable sources. That's why our business analysts have started exploring and utilizing tools like Google Analytics and site heatmaps to produce quality business results.

The role of business analysts is evolving and expanding into related fields. For instance, our team plays a significant role in digital product redesign, particularly in the area of UI/UX audit. Although it's called "UI/UX," it doesn't mean it's solely the designer's responsibility. Our team conducts various types of research, including identifying persona types, user surveys, competitor analysis, testing the current solution, creating customer journeys, etc. You can discover more about the processes mentioned in our Digital Product Redesign article.

What has Changed in Linkup’s BA services?

Delving Deeper into Clients’ Business

Last year, we’ve been discovering and applying diverse techniques, conducting workshops, usability testings, and running broader researches in cooperation with other project team members to deliver high-level service and bring value to our clients. We focused on providing more deliverables to make them practical and useful for future activities.

Breakthrough Thinking: Challenging Client Ideas

We evaluate multiple strategies and provide clients with potential outcomes to make their own decisions.

With over a decade of experience in digital product creation, our team often challenges our clients' ideas and leverages expectations. We strive to understand their goals and motivations, as sometimes people pursue something that isn't what they truly need. We calculate the potential outcomes of various strategies and present them to our clients, empowering them to make informed decisions.

For example, a client planned to use a subscription revenue model without factoring in the cost of additional APIs, external libraries, and other development instruments. We proposed alternative revenue sources, such as advertisements, to cover expenses and exceed their revenue expectations.

Unexpectedly, but clients do not always carefully examine their competitors and assess their chances of success. Understanding the target audience's behavior is crucial to determine if they will be willing to pay for the product or service.

We Help Startups with Fundraising

Creating professional presentations and marketing materials for pitching.

A significant part of our work involves collaborating with startups. We always appreciate the passion and innovative ideas that have the potential to change the world and people's lives.

When such clients approach us to estimate the costs of their dream product, we offer to create professional presentations and marketing materials for their pitch decks with investors. This helps them make a strong impression and stand out in a competitive market.

After successful investment rounds, we collaborate with startup clients to comprehensively and meaningfully design their products.

Ira’s Plan as Chief Business Analyst Officer

I intend to elevate Linkup Studio's business analysis service to the next level by transforming it from a primarily "development support" function to a comprehensive consulting service that delivers additional value to our clients.

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Iryna Liubinets
Iryna Liubinets
Chief Product Management Officer
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