An Overview of the Underlying Competency of Business Knowledge.

For every analyst, there are a plethora of opportunities (and possible challenges) anchored in business expertise. A good way to appease stakeholders is to point out that your rivals are creating something that you can enhance. Managers will likely be pleased when you document your criteria to adhere to the company’s declared goals for the year. Applying your business knowledge will benefit your company financially and temporally, as well as enhance your ability to collaborate with other departments and impress your bosses.

Business principles are general corporate methodologies that apply to nearly every organization. Many analysts work in or are at least related to their company’s IT group. And IT is an enormous part of any business. But a lot goes into running your organization’s business besides a client’s needs in software or systems—and to a lesser or greater extent, all of it affects your work. Human resources will want to know that you followed company policy when working late to complete a project. Accounting with look at the bottom line of material you requested to complete a software build. Legal will examine the end result for regulatory compliance. If you leave any of these business principles out of the equation of your work, it has the potential to be harmful. BABOK puts it this way: “Business analysts require an understanding of fundamental business principles and best practices, in order to ensure that they are incorporated into and supported by solutions.”