The Modern Analyst Blog for Business Analysts

Adrian M.
Adrian M.

Could the Recession be Good News for Business Analysts?

Most of us would agree that recessions are not a good thing – especially the one we are in right now.
 
But for those daring enough, tough times have can be moments of opportunity. 
 
Many famous companies - such as GE, CNN, HP, Microsoft, Hyatt, FedEx, etc. - started during times of shaky economic conditions.
 
How did this happen?
 
They were started by people who recognized a market need and who worked diligently to fill that need. This is the key to starting and building thriving enterprises.
 
You may not be starting the next Microsoft but there are great opportunities for you, the business analyst, in these tough economic times.
 
Let’s take a look…
 
[1] In a down economy businesses tend to refocus on the bottom line: increasing efficiency, reducing costs, and identifying opportunities within the realm of their core competencies. Businesses are now ready to (perhaps forced to) slow down and take a closer look at their Business Architecture as well as employ Enterprise Analysis techniques in order to identify new opportunities.
 
Who is going to help these organizations with these tasks?
 
You got it!
 
It’s YOU, the business analyst…
 
[2] Many companies, for good or bad reasons, attempt to cut costs by outsourcing and off-shoring new system implementations and software development activities. To enable this, they must employ consultants or employees who understand the business needs/goals and interface with the outsourced providers.
 
Who do you think is best suited for this task?
 
You got it again!
It’s YOU, the business analyst…
 
[3] Have you heard of TARP, Stimulus, or Bailout?
 
Well – billions of dollars have been set aside to help banks, mortgage, and insurance companies. Attached to these dollars come many new rules, regulations, and conditions. The recipients and hopeful recipients of this money are busy trying to understand and implement the impact of these new rules into their business models, processes, and systems.
 
Who can benefit from this additional work?
 
Yep… the Business Systems Analyst, the Process Analyst, the Systems Analyst!
 
[4] Have you seen the various other changes being proposed though either specific plans or the new proposed budget for rest of 2009:
  • Numerous tax code changes – do you think the IRS, tax software companies, tax accountants, investment firms, etc. will have to change their models and business software? You bet they will!
  • Money to Modernize Air Traffic Control Systems – they’ll need top notch systems analysts. Are you one?
  • Enhance security at Major Ports – this will include many technology projects especially related to security. This might be a good niche for technical Bas who don’t mind learning a thing or two from a Security Analyst.
  • Align our Education with 21st Century economic demands – this means science and technology… The might need folks who not only understand technology, know how technology can solve problems, but who can also communicate, teach, and mentor… Many business analysts are great at this!!!
  • Computerize America’s Health Records & Change the health care system. Do you have healthcare vertical domain knowledge? If you don’t get some, ‘cause this industry could potentially see some of the more drastic changes requiring new processes and business systems. By the way – we have a related free webinar coming: “Visualizing an Electronic Record System: A Case Study for BAs
  • Developing and Disseminating Info on Effective Medical Interventions – $1.1 billion dollars have been slated for researching this data. Do you foresee the need for new systems based on solid Enterprise and Data Architecture? I do.
  • Etc., etc., etc.
 
It is up to you to identify these opportunities and niches which fit your skills and interests.
 
By the way – did you notice this month’s eJournal topic: Enterprise Business Analysis & Architecture!
 
 
This is the time to look at the big picture and identify trends which could either help or hurt you or your organization. 
 
You mission, should you choose to accept it, is to identify these trends and changes and act appropriately. 
 
This is NOT Mission Impossible… Enterprise Business Analysis is the discipline which will help you do just that.
 
Any thoughts of what opportunities might be there for you?
 
Would love to hear your ideas!
 
- Adrian
 
Adrian Marchis
Publishing Editor
ModernAnalyst.com
This entry was published on Mar 09, 2009 / Adrian M.. Posted in Enterprise Analysis (BABOK KA), Business Analysis, Career as a Business Systems Analyst, Getting Started as a Business Systems Analyst. Bookmark the Permalink or E-mail it to a friend.
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