This business analysis technique helps you provide solutions in manners of market opportunities, product/solution, execution plan, human capital, and potential return.
Needless to say, heptalysis allows you perform business analysis from multiple angles. With this bird’s eye view of your project, you put yourself in orchestral role that allows for maximum control and more comprehensive results.
Since heptalysis is such an all-inclusive method, the best practice is to know about every facet. Check out this short play-by-play of the five elements of heptalysis.
The only reason for business failure is the lack of opportunities. As a business analyst, you are tasked with finding those opportunities, and constructing a plan of action that coincides.
To do this, identify the customer needs, and factor in what competitors offer. The best opportunities lead to long-term solutions, so avoid any “band aid” fixes you may encounter.
If the opportunity doesn’t forecast a sustainable profit margin, it’s best to put the kibosh on the idea.
Will the end user be able to use the product/solution that your client offers? Furthermore, does product/solution coincide with the market opportunities?
To be blunt, if the stakeholders’ customer base has outgrown the product/solution, then it’s time to think about how the product/solution needs to evolve.
This can be tough when presenting to stakeholders, but if you remain steadfast, and explain why this so-called “product evolution” needs to happen, you’ll stand on solid ground.
Tactical execution plans are step-by-step. These action steps are the rungs on the ladder to success. Everything must be factored in—from customer engagement to employee learning curves.
Focus your execution plan on the big picture goal of the company, and if you always have that in your head, the steps will reveal themselves to you.
Ideas don’t matter much unless you factor in human beings into the equation. Long story short, I’m talking about the people who will be affected by the approach you take.
In other words, the employees and customers are the bread and butter of a successful enterprise. Ultimately, these will be the people who decide whether or not the solution you’ve created is worthwhile.
What’s the realistic approach? That’s the question you’re going to have to answer. Since your stakeholders are looking for solid ROI, it’s important to open up every possible revenue stream you can, but always be grounded in your approach. Profit takes time.
How many solution approaches do you apply?