Business Analyst Interview Questions and Answers Business Management

Business Analyst has different responsibilities in different organizations; however, a successful BA has some core responsibilities that never change shared below;

• Requirement gathering: The primary responsibility of a BA is to understand the stakeholder needs, extract the requirements accordingly, document them appropriately, and communicate these requirements to the development team to make a solution.
• Analyze: BA should analyze the requirements in detail and set guiding principles, steps, and policies that should be followed to change business processes and information systems.
• Communication: A business analyst is a link between the stakeholders and subject matter experts to communicate requirements and solutions. A BA must listen, recognize, and understand verbal and non-verbal data.

A business analyst studies the problems and requirements and lays a foundation upon which a business plan resides. A feasibility study examines every relevant factor, like legal, economic, technical, and scheduling, to determine whether the projects can be completed. With a feasibility study, a business analyst identifies the new opportunities and the project's return. There are different types of feasibility studies;

• Technical feasibility, to analyze the technical resources.
• Economic feasibility, by cost-benefit analysis, to access the economic factors to determine the economic viability.
• Legal feasibility, to analyze laws and regulations for the project.
• Time feasibility, estimate the project timeline.

A business analyst provides a framework for a business process, anticipates future problems, and uses various tools. The tools are classified based on functionalities like assessment, analysis, and collaboration tools. The common tools used by a business analyst are;

• MS Office to deliver presentations and create reports, requirement documents, and business models using different templates, themes, and Visio diagrams.
• Rational RequisitePro best tool for requirement gathering, and it efficiently manages the documents and conducts the impact analysis.
• Pencil is an open-source tool for creating prototypes and mockups of a final product.
• Google Docs is an easy and comfortable tool for creating, editing, and sharing documents of different formats.
• Balsamiq is an excellent cloud-based tool for product design, mind maps, brainstorming, and immediate feedback.
• Trello is based on a Kanban-style for task prioritization and management. This tool allows a business analyst to track tasks and project plans easily.
• Python and R programming

This is one of the most frequently asked IT business analyst interview questions for freshers in recent times.

A flowchart represents a sequence of events that create output by illustrating their sequence graphically. It helps to understand how an event determines a given outcome by examining its impacts. Flowcharts are used in business architecture to easily understand complex business processes with symbols and texts, which is the essence of flowcharts.

An analyst's first step before starting a project should be business analysis. There are typically multiple steps, each involving tasks, principles, and documents to be produced. The business analysis process length depends on the type of project, and it includes the following steps,

• Background information gathering
• Identification of stakeholders and prioritization of the roles they perform.
• Identifying the business objectives to help the team stay focused on the vision.
• Evaluate the options to achieve the objectives by brainstorming
• Develop the Scope of the project to develop the goals in detail
• Plan a detailed timeline for delivering the requirements
• Define functional and non-functional requirements
• A constant evaluation of value added by the project

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A business analyst plays a multifaceted role and requires critical thinking to comprehend the requirements and existing knowledge to write a business story. INVEST is a widely accepted checklist of attributes to create a quality user story. The acronym INVEST means,

I – Independent:  A user story should be independent and not dependent on other stories, as it helps prioritize the stories, and one can work in any order.

N – Negotiable: A story should be a form of an easy conversation between the stakeholders and easily modifiable.

V – Valuable: A user story should give a value statement to explain why a particular feature is important to develop.

E – Estimable: The developers should estimate the user story to prioritize accordingly.

S – Small: A user story should be small, with a sprint of 2 weeks.

T – Testable: A user story should be testable for the QA team to check it meets the set criteria.

RUP means Rational Unified Process. RUP is a methodology for developing architecture-centric and user-driven software. The RUP process has four phases, and each phase involves six development disciplines; business modeling, requirements, analysis and design, implementation, testing, and deployment. For example, a business analyst uses the RUP method to list requirements that help track how each service piece contributes to business value. The essential principle of RUP is to focus on risks and project quality.

Activity diagram is a flowchart that helps an analyst present concrete, easy-to-follow operational and business workflows. Activity diagrams are used in many situations, like creating use-case, business workflow, software protocol, and software algorithms. An activity diagram illustrates the steps involved in an activity and their order. Various functions can be accomplished using them, including modeling business processes and depicting control flows. Activity diagrams can be used whenever it is necessary to describe a behavior or to model control flows.

This is one of the most frequently asked BA interview questions and answers for freshers in recent times.

Use-case is one of the UML diagrams that diagrammatically represent the System to quickly understand how to use the System to achieve the goal. Use-case is an essential part of software modeling, which helps define the functional requirements, features, and solutions to errors. The steps involved in designing user care are:

• Identify the system user
• Create a user profile, including user roles
• Identify essential goals
• Structure a use-case for each goal
• Review and validate the user

Documentation is an essential task of a business analyst. There are many documents a business analyst creates to depict the requirements and discussions about new features; BRD (business requirement document) and FRD (Functional requirement document) are among them.
BRD highlights the "Business requirements." It is a formal document illustrating the verbal and written requirements provided by the client.
FRD highlights the "Functional requirements." This high-level document is created with the supervision of a technical expert to describe the functional and technical specifications of the software.

A. V-model is a development model. At each phase, separate teams verify and validate the model in parallel. Each step generates two reports, one for validation and one for verification. It is a sequential process in which the next phase starts only after completing the first phase. In this model, steps don't move in a linear path while the steps are bent upwards. The results of this test management are of the highest quality. However, it is time-consuming and costly.

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A benchmark is the competitive border that allows an organization to adapt, grow, and thrive through change. An organization benchmarks its crucial business metrics and practices to determine where it needs to change to improve its performance—within an organization's business areas or against a competitor, industry peers, or other companies worldwide. There are four types of benchmarking,

• Performance benchmarking, gathering and comparing quantitative data to identify the performance gap.
• Practice benchmarking, gathering and comparing qualitative data to identify best practices to adapt to fill the performance gap.
• Internal benchmarking compares metrics from different units, products, and departments to understand the business performance.
• External benchmarking sets baselines and improvement goals to assess the organization and business's current state.

Pareto analysis is a categorical approach for business decision-making that helps identify changes that will be most effective for a business. Pareto analysis helps decide which changes are most beneficial in cases with many options. Pareto's principle, also known as the 80/20 rule, suggests that 20% of efforts are responsible for 80% of results. Steps used in Pareto Analysis,

• Identify the problems that need to be solved by gathering client and team feedback, surveys, or helpdesk logs.
• Identify the cause of each problem by using cause and effect analysis.
• Assign a suitable score to each problem.
• Using root cause analysis, group the problems together with the same cause.
• Add up the scores of each group, and the top scorer is the highest priority.
• Finally, it's time to take action by ideas get from brainstorming.

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The 100-point method is a feature prioritization method. In this method, each participant is given 100 points, and they can distribute these points by voting for the most important requirements. For example, imagine that a group was prioritizing five items. An individual could assign 20 points to each item based on its importance. Or, the voting may be weighted based on the significance of items 1, 2, and 3, so item 1 gets 40 votes, item 2 gets 30 votes, item 3 gets 15 votes, etc., until every vote is allocated. Then, everyone allocates their 100 points. Each item is then prioritized according to the final vote count based on the sum of all votes.

OLTP stands for online transactional processing, a data processing based on transaction-focused tasks. It involves inserting or updating a small quantity of data, often used for financial transactions or retail sales. OLTP helps in monitoring daily transactions. The efficacy of an OLTP system is measured by the number of transactions processed per second.
Atomicity and concurrency are the main characteristics of OLTP transactions. The best examples of OLTP transactions are;
ATMs, online banking applications, order entries, e-commerce, etc.

BPMN (Business Process Model and Notation) gateways work as decision points to decide what to take based on the result of the situation evaluation. A single gateway can have various inputs and outputs; a diamond represents a gateway. They do not affect operational measures such as time, cost, etc. There are five types of BPMN gateways,

• Exclusive gateway directs a flow to just one output.
• Inclusive gateway directs a flow of one or more branches based on the formula.
• Parallel gateways represent two tasks in a business flow.
• Event-based gateways are based on the event that triggers them.
• A complex gateway is only used for complex flows in the business process.

1.Flow objects are the pieces that form the overall workflow. There are three flow objects,
- Events are the circular symbol that acts as a trigger to initiate s start, intermediate, or end point of a process
- Activities are rectangular and tell the specific task performed by a person.
- Gateways are the diamond symbol that works as a decision point.
2.Connecting objects connect the pieces of the workflow; there are three connecting objects,
- Sequence maps the flow of objects.
- Association shows the relationship between data and objects.
- Message sent between various participants in the workflow.
3.Swimlanes help organize activities into separate categories, revealing inefficiency and workers responsible for each step.
4.Data Symbols indicate that certain types of information are required for the task and don't impact the movement of the workflow.

FMEA stands for Failure Mode and Effect Analysis, a qualitative and highly structured technique that helps detect early failures or problems with services. A business analyst uses FMEA to detect potential issues and their adverse effects. FMEA should be performed when designing a new product or planning an enhancement to an existing product. There are the following steps to develop an FMEA:

• Assemble the FMEA cross-functional team
• Set Scope of FMEA
• Identify Failures and their effects
• Setting priorities
• Take corrective actions

It is one of the top business analysis frameworks.

8-Omega framework is a business framework that helps an organization build the ability to react to external pressure with an efficient response. It prepares an organization for positive change and helps to suppress the risk. The 8-Omega framework has four perspectives:

1. Strategy: It sets the strategy by defining targets, emphasizing the roles and results, and balancing time and resources.
2. People: 8-Omega engage people in their roles and strive to change an organization's culture by fighting against workplace negativity.
3. Process: This framework creates the process that adds value to the organization and identifies the no-value added services.
4. Technology: 8-Omega identifies a technical ability that serves business requirements.

Kano Analysis is a process that accesses the product characteristics that affect customer satisfaction. Constantly adding the feature can be expensive, so Kano Analysis accesses the feature that helps to increase sales by considering customer emotions. There are three elements of Kano Analysis:

• The threshold features the essential feature customers expect to have in a product.
• Performance features are directly correlated with the customer's positive or negative satisfaction.
• Excitement features are surprise elements that boost the competitive edge. These are not desirable features, but when customers get offered them, they are delighted—for example, a free meal with your stay at the hotel.

A persona is used for the user-centered methodology. They are the detailed fictional portrayal of a user based on knowledge of behaviors and characteristics of real people. It helps to understand goals, problems, behavior, and psychology linked to the user segment. Business analysts can use a persona to help bring requirements to life and create empathetic designs. There is some information a persona should reflect;

• Name
• Roles and responsibilities
• Demographics
• Scope and goal
• Problems
• Work environment and technical experience

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The pair-choice technique is used in the prioritization when multiple stakeholders are involved. For example, using pair-choice techniques can help an audience rank order items when they have difficulty ranking their importance. It may be a requirement, or it may be another item that requires prioritization.

A business analyst plays an essential role in preparing documents; they document the requirement details and the progress and changes in future product or service development. The key documents prepared by a business analyst are:

• Business vision document
• Business analysis document
• BRD (Business requirement document)
• SRS (System requirement document)
• RTT (Requirements trace table)
• Gap analysis
• System test cases
• UAT program report
• Change request document

Data collection is gathering information about a particular subject, ethically and legally. Data can be qualitative or quantitative, and as a business analyst, one can keep a few factors in mind;

• Question to ask
• The data subject
• Collection timeframe
• Data collection method

The standard and best data collection methods used are,

1.Surveys: Surveys are a set of questionnaires that collect both qualitative and quantitative data. They can be both digital and physical, and that makes them inexpensive.
2.Transitional Tracking: It is important to track customer purchase data to make better marketing decisions and to understand your customers better. As fast as data is generated, e-commerce and point-of-sale platforms often allow you to store it, making this a seamless method for collecting customer data.
3.Interviews and Focus group: This method helps to get feedback directly from the people through interviewing and focus groups for product features.
4.Online Tracking: Using pixels and cookies, you can collect behavioral data. They provide insights into what content users typically engage with and track their online behavior across websites.
5.Social Media: Keeping track of your audience's interests and motivations is easy by monitoring your company's social media channels. It is common for social media platforms to integrate analytics, but third-party platforms can provide more detailed insights based on multiple channels.

Scope Creep happens when the project experience changes because of additional features after the project scope is decided and already going on. Though this hopes to improve the product, it leads to a project over time and budget. The following steps help to manage the scope creep:

• Examine the pre-decided project scope
• Check if the change request fits in with the Scope; if it doesn't, it's Scope creep.
• Perform the estimation of changes impact on time, and resources
• Request detailed change control document from stakeholders and the reason for the change

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Scope creep is very common in any project and can adversely affect the measurable parameters. It is unpredictable and causes severe harm or even a project failure. There are some common reasons for Scope creep;

• Lack of detailed and precise project scope
• Unclear communication between clients
• Weak leadership
• All stakeholders are not on the same page
• Less involvement of client throughout the project lifecycle
• Delay in raising the issues
• No prioritazion of features
• Bad estimation

MSA stands for Measurement Statistical Analysis. It determines whether a measuring system can precisely measure using statistical tools such as gage R&R (repeatability and reproducibility) tests. MSA gives confidence to data collection methods to verify collective data integrity and evaluates the measurement techniques, test methods, and data collection practices. MSA is characterized in five ways,

• Stability is the capacity of a measurement system to give the same values over the time measuring the same sample.
• Bias measures the distance between the sample's average value and actual value.
• Linearity is a measure of the consistency of Bias.
• Repeatability 
• Reproducibility

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Gap analysis is a method to assess the present state of any business, product, or service to achieve the desired future shape and what needs to be done to fill the gaps between the present and future. Continuous enhancement of technologies continuously changes the business or service goals, and gap analysis helps to carefully document the needs for improvement on features, performance, etc. Gap analysis gives quantifiable data and a realistic view of "what needs to be changed," This process is also known as "needs analysis.
Gap analysis helps an analyst prioritize features and make an informed decision about time, cost and resources required.

A risk is an uncertain future-focused event that often affects the project negatively, like overbudgeting or a missed deadline; however, sometimes, it is positive and brings good opportunities to the project. An external factor often causes risks.
An issue is a present-focused problem obstructing a project's progress toward achieving the goals, like; as communication gaps, unclear roles and responsibilities, and poor planning. In addition, internal factors cause an issue.

Risks are future-prediction that may affect the project; hence understanding the potential risks can minimize the chances of any effect on the project. The types of Riska are:

• Technical risks 
• Managerial risks
• Business risks
• Financial risks
• Organizational risks
• Reputational risks
• Performance risks
• Schedule risks
• Scope risks
• Resources risks
• Environmental risks

There are different risk identification and planning tools like brainstorming and cause and effect analysis.

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Misuse Case refers to a user's steps and scenarios to perform a malicious act on a system or business process. Whether the goal is positive or desirable, they are still use cases in defining how the user performs steps to achieve the goal. There are many advantages of it,

• It notices the non-functional requirements that increase the quality
• It gives a better understanding of the System to Developers
• It is an easy and user-friendly model
• It allows risk analysis in the early stage and can be recognized as customer friendly.
• It gives early emphasis on security features.

Prioritizing requirements is a way of managing the relative importance and urgency of requirements within a project, considering limited resources. Prioritizing ensures that the most critical requirements are addressed as soon as possible in case budgets or time runs out. A well-structured set of requirements allows developers and database analysts to build a project's features within the business objectives. A business analyst should identify the critical, influential factors;

• Benefit, e., set of requirements offers the most benefit
• Penalty, e., requirements meet with policy demands
• Cost, e., effort and resources needed
• Risk, i.e., a set of requirements that reduce the risk
• Dependencies, e., set of requirements that depend on other conditions to complete
• Time sensitivity, e., set of requirements to deliver before the specified time and date
• Stability, e., set a lower priority for unstable requirements to avoid rework
• Regulatory, e., requirements must implement to meet the regulatory demands

As we know, a business analyst plays a role in the prioritization of the requirements in an organization or project. There are often used requirement prioritization techniques,

• Ranking: Ranking the requirements on an ordinal scale with a different numerical value based on their importance sets a priority list. This method is best for dealing with a single stakeholder.
• Numerical Assignment: In this method, requirements are categorized into different priority groups, each representing something stakeholders can relate to. The priority of requirements can be divided into critical, moderate, and optional.
• MoScoW Technique: Instead of numbers, this method uses four groups,

1. Must 
2. Should
3. Could
4. Would

• Bubble sort: A bubble sort is used to prioritize requirements by comparing them. You should swap requirements if one is a higher priority than the other.
• Hundred-dollar technique: There are many situations in which multiple stakeholders must vote on which requirements are most important democratically. Each stakeholder receives a conceptual 100 dollars that can be distributed among the requirements. In this case, the stakeholder may decide to give the 100 dollars to a single requirement or may distribute the points more evenly. The higher the amount allocated to each requirement, the higher its priority. Based on the number of points received, the requirements are sorted based on their totals.
• Analytical Hierarchy Process (AHP): This method uses an entire framework to make correct business, healthcare, or government decisions. In this, stakeholders break their goals into sub-problems, which can easily be y analyzed and helps in making a priority hierarchy.

The goal of strategic analysis is to frame a transformation's Scope, articulate the business needs/outcomes, and set the agenda for change by understanding the business context, the business challenges, and the complexities of the internal and external environment.

The five steps involved in strategic analysis:

• Determine the level of analysis; it will help to understand the organization's strengths, weaknesses, and threats.
• Gather all teams from finance, HR, operations, sales, etc., to identify and evaluate data thoroughly.
• Use SWOT or PESTLE analysis methods.
• Summarize the analysis findings in a document and discuss them with the team
• Use strategic analysis to set priorities and goals.

As crucial to determining a project's budget, time estimate, and Scope, requirements elicitation is one of the most challenging and complex stages of software development. To deliver valuable and satisfying solutions, requirements elicitation should be exceptional. There are many elicitation methods to gather information,

• Document analysis: A business analyst review the document to identify requirements for change.
• Brainstorming: In this method, business analysts sit with the team and stakeholders to brainstorm new ideas.
• Focus groups: stakeholders provide feedback to refine processes and ideas in this method.
• Interviews: A one-to-one formal or informal interview session with SMEs and stakeholders.
• Observation: Also known as job shadowing, it's a suitable elicitation method to understand requirements related to the work environment.
• Prototyping is an important method that enables the practical visualization of applications before development.
• Surveys
• Workshops

RTM stands for Requirement Traceability Matrix. The requirement traceability matrix is a high-level document to link and track requirements with test cases to ensure that each requirement testing is achieved. Reviewing all the test cases for any requirement is called Traceability, enabling us to determine which requirement has the most defects. The benefit of RTM are:

• An RTM can be used to manage changes to a project's Scope and evaluate the impact of these changes. It will be easier to assess the effect of making any changes to one or more requirements if you know how they are related.
• An RTM ensures stakeholders trace back the project's objectives and solution.
• An RTM ensures that approved requirements should be delivered at the end of the day.
• Solution requirements can easily be linked back to business requirements using RTM.

The use case is a method of capturing software requirements. A user-system interaction sequence is used in a use case specification to explain the System's functionality. The main flow of the events describes the System's single path, and alternative flows and exception flow represent different routes through the System.
Unlike the standard flow, an alternative flow depicts a situation that enables users to achieve their objectives. It's commonly thought of as an optional flow, suggesting that the user has selected to follow a different route through the System. An exception flow is an unintentional course that the System takes, frequently due to missing data or problems with the System's availability. For the user, exception flows signify an unwanted route.

The group ideas produced by a brainstorming session are organized using an affinity diagram. It produces, organizes, and combines data about a challenge, solution, intricate problem, or procedure. After gathering the different ideas, an analyst sorts them according to their similarity. The process includes the following steps;

• Find the problem
• Brainstorm and tell participants to write their ideas on post-it notes
• Then ask participants for their idea on flip board
• Discuss and arrange similar ideas in groups
• The ideas that don't fit anywhere, separate them
• The ideas fit into more than one group, make duplicate post-it notes, and put in the appropriate group.

A business analyst works as a bridge between client requirements and a project's success and understands the needed changes for best results. Business analyst has a lot on their plates, from handling projects, maintaining client-stakeholder relationships, managing deadlines, etc. However, a business analyst faces various challenges,

• Technology problems
• Business model error
• An issue with communicating with stakeholders
• Undocumented requirements
• Business Policies issues
• Misalignment between business needs and technology
• Conflicts among the stakeholders
• Continuous change requirement

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In the rapidly changing business world, technologies and techniques are developing, and as a business analyst, it's essential to keep up and adapt these techniques. And Agile is replacing more traditional ways of working, and a business analyst must develop an agile business analyst mindset.

The agile Manifesto is a document that outlines the fundamental values and concepts of the agile way of working and summarizes the agile philosophy. It is based on four values and twelve principles,

Values: 

• Individuals and interactions with processes and tools
• Working software with comprehensive documentation
• Customer collaboration with contract negotiation
• Responding to change with a plan

Principles: 

• Customer satisfaction with continuous delivery
• Welcome changing requirements
• Deliver working software frequently
• Business people and developers should work together
• Build a supportive environment for all
• Working software is the primary progress measurement
• Agile promotes sustainable development
• Attention to technical excellence and design agility
• Simplicity
• The best architecture and design emerge from a self-organizing team

The team reflects effective behavior at regular intervals

There are essential skills of a business analyst:

• Communication and Collaboration
• Flexibility
• Adaptability
• Business knowledge
• Value recognization

Agile Methodologies:

• Kanban
• Scrum
• Extreme Programming
• Crystal methodology
• DSDM (Dynamic systems development method)
• FDD (Feature-driven development)
• Lean software development
• SAFe (Scaled agile frameworks)

Graphical representations for the frequency of numerical data values include histograms and box plots. Histograms are preferred to determine the underlying probability distribution of a data set. Contrarily, box plots are more helpful when comparing various data sets.
Histograms provide a clear understanding of how a variable is distributed. Box plots try to achieve the same goal, but they don't give a clear enough image of the distribution of this variable.
Box plots are better at comparing various data sets than histograms, even though histograms are better at identifying the underlying distribution of the data. This is because box plots are less detailed and take up less space.

Any business analyst would do well to conduct a feasibility analysis that identifies issues and what is required for a project to be successful. Additionally, you may add that a feasibility study should cover six key areas, including:

• Project scope, define the problems that affect the business.
• A business analyst can discover where modifications are required in the current analysis, identifying the project's advantages and disadvantages.
• Requirements, finding the needs of the project
• Approach, determine whether the solution is practicable or not
• Evaluation, determine that the approach is cost-friendly
• Review validates whether the feasibility is accurate or not

A staple in senior business analyst interview questions with answers, be prepared to answer this one using your hands-on experience. This is also one of the top questions to ask during a BA interview.

SDLC stands for software development lifecycle, and PDLC stands for project development lifecycle.
PDLC defines as a process that brings a new product to market and includes the business units. Therefore, it is the process of creating a product. Another way to define it is as anything that can fully represent a product. It is essential to realize that PDLC has nothing to do with a product's shelf life; it is concerned with the full development of a product and covers hardware.
On the other hand, SDLC is utilized while creating specific software products. The primary goal of SDLC is to address any potential software issues.

BPM or business process modeling is an essential technique used in an organization to improve operations' efficiency, cost reduction, and scalability. There are some everyday and widely used business process modeling tools;

• SIPOC Diagrams: It stands for,

S-Suppliers, I-Inputs, P-Process, O-Outputs, C-Customers. In the SIPOC diagram, write each letter at the top of a column. Then stakeholder list out the elements in each.

• UML Diagrams: Unified Modeling Diagrams are a mainly used business process modeling tool. It gives a standard way to analyze, design, and implement. The structural and behavioral diagrams are two types of UML.
• Value Stream Mapping: It illustrates the steps in a business process. This methodology's main objective is to locate where a process can be made better by eliminating waste.
• Gantt Chart: Gantt charts are detailed diagrams that show how long it will generally take to finish a task or process. Gantt charts can more specifically display the process's start and finish dates/times, the necessary functions, and the duration of each task.tec

Request analysis is a necessary process that enables the project or product success and is divided into two categories, functional and non-functional requirements.

A functional requirement defines a system component. However, non-functional requirement represents the quality component of a system.

A functional requirement depends on "what should a software system do?" On the other hand, non-functional depends on "how software should fulfill the functional requirements.

Functional requirements are user based, whereas non-functional is technically based and decided by tech leads and architects.

CRUD stands for following actions,

Create, create and store new data

Read to retrieve the data

Update to change and store the data

Delete, remove the data

A CRUD matrix is a beneficial tool for storing and showing system operations and permissions. Integrating a CRUD Matrix with analyzing user operations within the System is constructive to complete the picture. This is especially true when considering the players and roles involved. The study aids in determining how entities and related GUIs are used. Identifying the frequently used information is also simple and might thus be a performance bottleneck.

It is referred to as a Data CRUD matrix when the CRUD matrix demonstrates the relationships between processes and data.

A resource CRUD matrix is one in which the CRUD matrix depicts the relationships between processes and resources.

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A stakeholder is a person or organization interested in a project's success or failure. The first thing you should do as a business analyst gets to know them when you start a new project. For example, the development team, the product owner, and senior management might be stakeholders in a software development project. A stakeholder's objective and goals will differ from another stakeholder's goals. As a business analyst, it's their responsibility to help the development team deliver the project on time and within budget by identifying risks and providing precise requirements.