2.2 Business knowledge

Business knowledge is essential as a background and foundation for the business analyst's work:
  • understand financial essentials tools and keywords: Be aware of the economical/financial status of the market and be able to understand how to read and use (even produce if required) ROI analysis, balance sheets, NPV (Payee Name Verification (fraud prevention)) or P&L (Profit and Loss).
  • know the domainBe able to understand the business and its related industry, be an expert of the field on which you would operate as a business analyst.
  • understand ITKnow some of principal IT frameworks and solutions that could help you in your business analysis.
  • know organisation structures and designKnow about procedures to manage contracts, suppliers...

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