IoT and Evolving Role of Business Analyst

The Internet of things is a scalable and automated solution that has seen abrupt growth in almost every industry. We experience the impacts of this disruption in our day to day life as well. Previously Business Analysis was only executed in large companies, with high authorities and managing larger teams that spanned IT, marketing as well as finance.

Then, with the arrival of cloud-based business intelligence and web analytics tools, it became feasible for everyone to design market demand estimations, inspect KPIs and to recognize click-through metrics, anytime and anywhere.

For evolution initiatives companies have developed new technologies, to bring essential changes to businesses in terms of strategy, operations as well as the overall customer experience. As more industries go in for broad transformation initiatives and with the sharp reminder that only about 30% of these essential initiatives are successful, it is necessary to realize that business analysts are essential for an organization’s success. According to the International Institute of Business Analysis (IIBA ), the business analyst is a disciplined perspective for initiating and controlling change to organizations, whether they are for-profit businesses, governments, or non-profits.

Let’s look at how this role is changing:

As many organizations have already initiated to acquire an IoT, the concept of an IoT Business Analyst is quickly taking up pace. Companies have started investing money into the IoT project to enhance operational efficiency and enable automation hence there is growing demand to recruit Business Analysts for the IoT project with required skill sets i.e. sturdy business knowledge, data strategy, a mindset aligned towards design thinking, etc.

Business analysts who can sharpen their IoT competencies will improve maximum business value with their business knowledge and their understanding of IoT technology. And as the Internet of Things (IoT) drives more intelligence to more devices which spread into every aspect of our lives, Business Analysts will require to point out their existence into the Use Cases that drive business today such as a:

• Smart shelves in supermarkets that minimize the product out stocking by comparing the popularity of certain items to the sales figure for that item.
• Smart windows with embedded IoT sensors to calculate light incident on building frontage and to change the glass transparency, minimizing the incoming heat in commercial buildings.

As we can see, all this technology is going to have a huge impact on people’s lives, wherever it is. The role of the Business Analyst will be to estimate how to provide an absolute fit between the customer experience, the booming of IoT technologies and the constant drive for business operational efficiency. They are able to articulate how the IoT technology or IoT platform works, scope and effect of change and which legacy processes or functions need to be reanalyzed to be compatible with the new transformation initiative.

The business analysis Contains Principally Two Things:-

1. Understanding the business concerns of most importance (as well as opportunities).
2. Suggesting changes to improve the business.

The first step remains as it is which includes interrogation with internal stakeholders to understand business requirements, strategic goals, processes, products, use cases and a data model reaching a final statement of requirements. It is during the second step that BAs for IoT Project requires to plan such requirements to a set of features that can be executed within the project budget as well as timescale.

So, whenever any supermarket client makes a complaint that customers are unable to find any item on the shelves because they are understocked, BAs must need to work with technologists to find solutions, which could involve IoT-based smart shelves. They need to move their focus towards customer experience and utilize that to guide business requirements.

Along with a primary task, if you are a BA for an IoT project, then you should also have fine knowledge of servers, databases as well as the client’s software system and technology. Those skills will help you to engage in thorough technical discussions and analysis with SMEs, Programmers & Engineers, which will help to improve the efficiency of business operations.  

IoT projects are based more on agility. Prototyping and describing the concept are essential elements in delivery and business analysts need to be capable to convey value early in the process. It is up to the IoT business analyst to engage with business leaders and users to interpret how data-driven changes to process, products, services, software and hardware can enhance efficiencies and add value.

It’s time to drive the high wave of transformation and use IoT Evolution as an opportunity to become IoT business analysts, strategists as well as design thinkers. Business Analysts who expand their knowledge and experience in how IoT impacts customer experience, buying journeys and business models they can stand out from the others and drive their careers towards the future. Combine your coding skills along with your BA skills and you are now ready to work on IoT projects.

To find out more about training as well as development opportunities, take a look at the various IoT courses available.