Business Analysis in the Post Digital Transformation Era – How has the ChatGPT impacted on the way we work?

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Business Analysis in the Post Digital Transformation Era – How has the ChatGPT impacted on the way we work?

Introduction

The evolutionary process of Homo sapiens from their primate ancestors occurred millions of years ago. Since then, human civilisation has developed over thousands of years. The concept of “Digital Transformation” has come a long way in the last four decades. Initially, it referred to the process of converting paper-based documents and records to digital format in the 1980s. The advent of commercial use internet in the 1990s (Web1.0) marked the emergence of eCommerce and search engines. In the mid-millennium, the arrival of Web2.0 led to the launch of social media platforms. Currently, Web3.0 is focused on emerging technologies such as Artificial Intelligence (AI), Machine Learning (ML), the Internet of Things (IoT), Robotics, Digital Twin, Blockchain, Metaverse, and Quantum Computing. These technologies are moving towards the automation era, where AI such as ChatGPT, DALL-E, Google BARD, can perform mental tasks, and robots and IoT can perform physical tasks. These automation capabilities represent a significant milestone in marking a critical point in the evolution of technology and laying the foundation for the development of new and innovative applications that have the potential to transform virtually every aspect of our lives.

“Digital Transformation” has undergone significant changes over the past three decades, with the emergence of new technologies. While these technologies pose a significant threat to IT professions, they also present new opportunities for professionals to adapt and transition into more sophisticated roles. The adoption of these technologies also has far-reaching implications for various sectors, leading to improved efficiency, cost savings, and data-driven decision-making.

The role of Business Analysts in the Post Digital Transformation Intelligence Led Automation Era

The launch of OpenAI’s ChatGPT and DALL-E2 in November 2022 has disrupted traditional search engine technology. ChatGPT can process search results and convert them into answers. Moreover, ChatGPT can perform a range of tasks such as generating computer code, writing content for books, blogs, reports, articles, song lyrics, musical notation, and poems in just a few seconds. On the other hand, DALL-E2 can generate pictures, diagrams, graphs, and charts in seconds. While these technologies have the potential to transform the industry, they also pose a significant threat to IT professions such as software developers, testers, engineers, and Business Analysts, who could potentially be replaced by ChatGPT and DALL-E2 and other AI tools.

Business owners might consider revaluating their hiring strategy in light of recent advancements in automation, which have enabled source code, documentation, and other artifacts to be generated automatically. It is imperative for businesses to stay up-to-date with these technological advancements and adapt their hiring and training strategies accordingly. This presents a two-sided approach: either the option to reduce the size of the workforce while maintaining productivity, or to maintain the current workforce while incorporating automation to increase productivity and efficiency. Regardless of the chosen approach, the trend towards technical competence will shift from producing the work to quality assuring the work produced by artificial intelligence.

With these AI tools, the automation of various Business Analysis (BA) artifacts is now possible. This includes the potential to automate data analytics, patterns and trends analysis, and the production of BA documentation such as BPMN, UML, SysML notation, Entity Relationship Diagrams (ERD), Customer Journey Maps, Benefits Maps, and more. Moreover, ChatGPT is capable of generating computer code directly from plain language to source code bypassing graphical representations of requirements. It means that business analysis artefacts could potentially become less necessary. Therefore, Business Analysts will need to focus on quality checking the deliverables generated by AI and providing more complex and sophisticated insights that AI cannot replicate.

Business Analysts must adapt to these changes by developing new skills and expertise to remain relevant and continue adding value to their customers and projects. As such, Business Analysts will need to develop new skills such as critical and creative thinking, data analysis, and business acumen to stay ahead of the curve. Business Analysts must strive to elevate their performance and adapt to the evolving technological landscape.

It is crucial that Business Analysts embrace cutting-edge AI technology, allowing the tools to carry out the foundational tasks for them. By doing so, the ground work can be delegated to these innovative systems, while human Business Analysts can focus on assessing, ensuring quality, and making informed decisions about how to best utilise the AI-generated materials in their workplace. This shift in focus will enable Business Analysts to transition from traditional roles to becoming more strategic “Business Advisors” who can offer valuable insights and guidance, as Business Analysts can blend their expertise with the immense capabilities of artificial intelligence. In this way, Business Analysts can ensure that their organisations remain competitive, agile, and prepared to navigate the complexities of the modern business world.

As a result, transitioning from a Business Analyst to a Business Advisor is a smart move for those looking to advance their careers and stay relevant in the changing business landscape. By expanding their knowledge and skills, Business Analysts can become trusted advisors to clients, providing comprehensive and valuable insights that go beyond the capabilities of AI. This transition requires a commitment to learning new skills and developing a different mindset, but the benefits, such as increased earning potential, career growth and personal and professional development, make it a worthwhile investment.

From Business Analysis to Business Advisory

From Business Analysis to Business Advisory

The intelligence led automation enabled by the emerging technologies also presents new opportunities for Business Analysis professionals to adapt and transition into more sophisticated roles. For example, Business Analysts will need to develop more sophisticated skills such as critical and creative thinking and expanding knowledge to include business acumen. Transitioning from a business analysis role to a business advisory role can be a challenging yet rewarding journey. This section has outlined six key steps that can help make this transition smoother and more successful. By following these six steps, Business Analysts can more successfully transition to a business advisory role, increase their value to clients, and take their career to the next level. They are:

  • Improving Efficiency
  • Improving Cost Savings
  • Adopting an Agile Mindset
  • Embracing Automation
  • Data-Driven Decision Making
  • Promoting Sustainability

Improving Efficiency

Improving efficiency is a key factor in the success of any project. It involves consistently aligning project initiatives with opportunities for optimisation, cost reduction, and improved performance. By doing so, Business Advisors can ensure that their project is not only completed on time and within budget, but also delivers maximum value to their stakeholders.

To achieve this, it is important not to hesitate in questioning the scope and requirements of a project if Business Advisors believe they are not cost-effective. This involves critically examining each stage of the project lifecycle to identify areas where time and resources can be optimised, without sacrificing quality. This can include exploring alternative options, such as outsourcing or automation, which may offer a more efficient and cost-effective approach to achieving project objectives.

In addition to questioning the scope and requirements of a project, it is also important to continuously monitor and evaluate project performance. This involves tracking key performance indicators (KPIs) to identify areas for improvement and implementing corrective actions as needed. By regularly reviewing and adjusting project plans and processes, Business Advisors can ensure that their project remains on track and that performance is continuously optimised.

Overall, improving efficiency is an ongoing process that requires a commitment to continuous improvement and a willingness to challenge the status quo. By consistently seeking out opportunities for optimisation and cost reduction, and by questioning the scope and requirements of a project, when necessary, Business Advisors can ensure that their project delivers maximum value to their stakeholders while minimising costs and maximising performance.

Improving Cost Savings

Improving cost savings is a key aspect of any successful business strategy. While it is often associated with reducing the costs of IT projects, it is important to recognise that cost savings can also be achieved in the “business as usual” environment. This means looking beyond traditional cost-saving measures and exploring innovative approaches to improve efficiency and minimise expenses.

One way to achieve cost savings is to adopt service design and service management as a service by outsourcing to external third-party providers. This can help businesses to reduce overhead costs and streamline their operations by leveraging the expertise of specialised service providers. Similarly, switching to a subscription-based model for software can provide significant cost savings compared to purchasing individual software licenses. This allows businesses to pay only for what they use, and to scale their software usage up or down as needed.

Another way to reduce costs is by utilizing cloud-based solutions. Cloud computing can effectively minimise hardware and IT expenses, as well as reduce the need for in-house IT infrastructure and support. This can help businesses to optimise their IT resources and allocate more resources towards innovation and growth.

Finally, exploring the opportunities for technology-based solutions to decrease energy consumption can also be considered as potential cost savings. This includes using smart energy management systems, reducing the use of paper, implementing energy-efficient equipment, and more. By leveraging technology to reduce energy consumption, businesses can minimise their environmental impact while also saving on energy costs.

In summary, improving cost savings requires a proactive approach to identify and implement innovative solutions to optimise business operations and minimise expenses. By considering a range of cost-saving measures such as outsourcing, subscription-based software, cloud-based solutions, and energy-efficient technologies, businesses can achieve significant cost savings and remain competitive in an increasingly challenging business environment.

Adopting an Agile Mindset

Adopting an Agile mindset can have many benefits for a project, but it also requires a shift in mindset and approach. It is important to understand that Agile is not just a process or methodology, but a way of thinking and working that requires active participation and collaboration from all stakeholders. By embracing Agile principles, teams can enhance the likelihood of success, mitigate risks, and reduce the time and financial resources needed for rework.

However, the adoption of Agile can also present challenges, especially for those who are unfamiliar with the methodology. One common challenge is educating the procurement and commercial teams of the customer, who may not be familiar with Agile methodology and tend to favour traditional waterfall projects due to their more predictable budgeting. Agile projects are inherently incremental and flexible, making it challenging to accurately predict final costs, especially since they are typically composed of multiple sprints with varying scales and scopes.

To address this issue, it is imperative that the Agile team engage in active education of the procurement team on the unique nature of Agile methodology, enabling the procurement team to create more effective financial forecasts. As an Agile advocate, we need to. proactively educate the procurement and commercial teams of the customer on Agile methodology for example, using User Stories as a baseline can help estimate project costs based on small, digestible pieces of functionality that can be delivered within a single sprint. This approach allows for flexibility and adaptability, while still providing a framework for budgeting and forecasting whereas the procurement team must take on additional responsibilities to forecast finances for Agile projects. By engaging in active education and establishing a budget contingency plan, the Agile team can effectively manage costs and ensure project success.

In addition to educating the procurement team, it is also important to establish a budget contingency plan. Agile projects are often subject to change, and unexpected issues can arise. Having a contingency plan in place can help to ensure that the project stays within budget while allowing for the flexibility required by Agile methodology.

Finally, it is crucial to get more engagement and commitment from the customer’s side. Customers need to dedicate their time and energy in the Agile projects, not just provide lip service or appoint a proxy Product Owner. Active participation and collaboration from all stakeholders are essential for the success of an Agile project.

Embracing Automation

Embracing automation is becoming increasingly important for businesses to remain competitive and agile in the modern landscape.

With technological advancements such as AI and machine learning, there are countless opportunities to automate repetitive tasks and processes, leading to increased efficiency, accuracy, and cost savings. This allows businesses to free up resources and allocate them towards more strategic endeavours. By embracing automation, businesses can not only increase their operational efficiency and remain competitive but also mitigate risks and ensure continuity of service delivery in challenging circumstances.

Data-driven Decision-making

Data-driven decision-making involves the use of technology, such as:

  • Artificial Intelligence (AI) And Machine Learning (ML),
  • Big Data Analytics,
  • Data Visualisation,
  • Infographics,
  • Predictive Analytics

These technologies can be leveraged to inform decision-making and assist customers in making more informed and astute choices by extracting meaningful insights from large data sets. By leveraging these tools, businesses can gain valuable insights into consumer behaviour, market trends, and other key variables that can inform strategic decision-making. For example, businesses can use predictive analytics to forecast future trends and adjust their strategies accordingly, or use data visualisation tools to identify patterns and outliers that may not be immediately apparent. The use of data-driven decision-making can help businesses optimise their operations, reduce costs, and ultimately drive growth and profitability. Furthermore, data-driven decision-making can assist customers in making more informed and astute choices by providing them with relevant information in real-time. This can lead to increased customer satisfaction and loyalty, as well as improved business outcomes. Overall, the adoption of data-driven technologies can be a significant competitive advantage for businesses in today’s digital landscape.

Promoting Sustainability

Promoting sustainability is not just about reducing the negative impact on the environment, but it can also have a positive impact on the business’s reputation and customer loyalty. Today’s consumers are becoming more aware of environmental issues and are more likely to choose products and services from companies that have sustainable practices. Therefore, promoting sustainability can be a competitive advantage for businesses and can help to build a positive brand image.

Implementing sustainable practices can also lead to cost savings and increased efficiency. For example, by adopting renewable energy sources such as solar or wind power, businesses can reduce their reliance on traditional energy sources, which can be costly and unsustainable in the long run. Additionally, by reducing waste and resource consumption through recycling or using sustainable materials, businesses can save money on waste disposal and procurement costs.

Furthermore, implementing environmentally-friendly technology solutions such as smart energy management systems or energy-efficient lighting can also lead to cost savings and improved efficiency. These solutions can reduce energy consumption and costs, as well as provide valuable data and insights into energy usage patterns and areas for improvement.

Overall, promoting sustainability can have numerous benefits for businesses, including cost savings, improved efficiency, and a positive brand image. By carefully considering opportunities for adopting sustainable practices and solutions, businesses can achieve these benefits while also contributing to a more sustainable future for all.

How and where to acquire Business Advisory skills

Acquiring business advisory skills is essential for professionals who wish to provide guidance to organisations on how to improve their operations, processes, and strategies. Fortunately, there are many ways to develop these skills. Some of the most effective ways to acquire business advisory skills include:

Acquiring business advisory skills is essential for professionals who wish to provide guidance to organisations on how to improve their operations, processes, and strategies. Fortunately, there are many ways to develop these skills. Some of the most effective ways to acquire business advisory skills include:

  • Joining professional organisations such as the British Computer Society (BCS) – the Chartered Institute of IT’s Business Change Specialist Group. These groups provide a platform for professionals to network, share knowledge, and develop their skills through training programs, seminars, and conferences.
  • Pursuing formal education in business strategies, concepts, and practices through academic institutions. This can include undergraduate or graduate degrees in business administration or related fields, as well as specialized training programs focused on business advisory services.
  • Earning professional certifications in business advisory issued by reputable professional bodies such as the Chartered Institute of Management Consultant (CIMC). These certifications demonstrate a high level of expertise and knowledge in the field, and can be highly valued by employers and clients.
  • Gaining industry experience through on-the-job training or shadowing experienced professionals. This can provide practical, hands-on experience in various aspects of business advisory services, such as financial management, marketing, and operations.
  • Seeking mentorship from experienced business advisors or joining professional networks. This can provide guidance, support, and valuable insights into the industry.
  • Participating in networking opportunities such as seminars, conferences, and workshops. These events provide opportunities to learn from industry experts, meet other professionals in the field, and stay up-to-date on the latest trends and best practices.
  • Taking online courses from reputable providers such as : LinkedIn, YouTube, Coursera, Udemy, SkillShare). These courses offer flexible learning options and cover a wide range of business advisory topics, from marketing and strategy to finance and leadership.

In summary, there are many effective ways to acquire business advisory skills, and professionals should consider a combination of formal education, industry experience, professional certifications, mentorship, networking, and online learning to develop their skills and stay up-to-date with the latest trends and best practices in the field.

About the Author

Dr Kitty Hung, a BCS Fellow, has almost a quarter of a century experience as a business and system analyst, project manager and technologist covering policing, national security, telecommunications, critical national infrastructure, defence, transportation, disruptive & emerging technologies such as Internet of Things (IoT), Digital Twin.

Kitty is a holder of the BCS International Diploma in Business Analysis (BA). She brings a blend of professional experience, creativity, customer focus, digital transformation, consultancy and vendor management as well as legislation and regulatory compliance experience to the IT industry and the BA professionals’ community with the ability to analyse complex problems and to translate them to requirements and present ways to solve them. She identifies customers’ most pressing digital related pain points and challenges particularly in cyber security, data science / analytics, GDPR.

She is an experienced and passionate mentor, coach, volunteer and charity fundraiser to help others and to give back to the community.

Kitty was born and grew up in Hong Kong. She is native in Chinese language fluent in Cantonese and Mandarin.

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https://www.linkedin.com/in/kitty-hung-phd-citp-bcs-fellow-03120a66/