Introduction To Business Analysis And Artificial Intelligence

One of the main goals of business analysis is to help the company reach its strategic goals. To do that, a business analyst works with stakeholders to develop solutions that will be the best fit for the overall organisational goals, and that commonly involves working with and analysing large amounts of data, identifying trends, and making predictions based on those insights. 

However, with the modern world moving at a frantic pace, the amount of data gathered from consumers, the market, and the general environment in which the company operates, makes processing and even gathering all the information often impossible to be done by humans.

And, this is where AI for business analysis steps in, as one of the biggest strengths of artificial intelligence is the ability to quickly perform tasks such as organising analysing data, and making predictions based on that data. 

Modern machine-learning algorithms are capable of extracting insights from multiple sources and identifying trends from gathered data which can be of great help in BA’s day-to-day job. If nothing else, automatically collecting and processing much more information than any human is capable of, saves plenty of time and allows business analysts to focus on strategic considerations and higher-level analysis. 

Of course, when it comes to strategic decisions, creative thinking, and communication skills humans are still irreplaceable, so the role of business analysts is still vital in helping the company achieve its goals.

AI tools such as ChatGPT can be used to provide efficiencies to the business analysis to remove burdens and repetitive tasks and help enable the business analyst to explore the problem domain by asking the right probing questions and essentially bring together business analysis and artificial intelligence.