Business Analysis & AI Strategy Glossary

A/B Testing is an experimentation method used to compare two or more variations of a product, feature, webpage, or user experience to determine which performs better.

A structured evaluation of an organisation's capability to adopt and benefit from artificial intelligence across data, processes, technology, people, and leadership dimensions.

AI Transformation is the process of integrating artificial intelligence into business operations, decision-making, and customer experiences to drive organizational change and innovation.

AI Roadmap is a strategic plan that outlines how an organization will implement, scale, and optimize artificial intelligence initiatives over time.

AI Governance is the framework of policies, processes, controls, and accountability structures used to manage artificial intelligence systems responsibly and effectively.

A structured plan that defines how an organisation will use artificial intelligence to achieve its business objectives, including use case selection, data governance, technology decisions, and implementation sequencing.

Agile Product Management is an iterative approach to product development that focuses on delivering customer value through continuous learning, collaboration, and incremental releases.

An As-Is Process is a documentation and analysis of the current state of a business workflow, operation, or system before improvements or changes are implemented.

A formal written agreement between a business sponsor and the delivery team that captures the business need, project scope, stakeholder requirements, functional specifications, and acceptance criteria.

Business Process Modeling is the practice of visually documenting, analyzing, and improving business workflows, operations, and processes.

A Business Case is a strategic document that justifies a project, investment, or initiative by outlining its benefits, costs, risks, and expected business value.

CRISP-DM is a structured data analytics and data science methodology that guides organizations through the complete lifecycle of analytics and machine learning projects.

Customer Journey Mapping is the process of visualizing every interaction a customer has with a business to understand experiences, pain points, and opportunities for improvement.

Certified Business Analysis Professional (CBAP®) is the senior-level professional certification issued by IIBA, requiring 7,500 hours of BA experience and a rigorous examination.

A Change Request is a formal proposal to modify project scope, requirements, systems, processes, or deliverables during a project or operational lifecycle.

The fundamental rethinking and redesign of business processes, culture, and customer experiences by leveraging digital technologies to create new value and competitive advantage.

A Data Flow Diagram (DFD) is a visual representation of how data moves through a system, process, or application.

Enterprise AI Strategy is a large-scale organizational plan for integrating artificial intelligence across business functions, operations, and decision-making processes.

Feature Prioritization is the process of evaluating and ranking product features based on business value, customer impact, effort, and strategic objectives.

Functional requirements specify what a system must do — the specific behaviours, features, and capabilities required to meet business needs and stakeholder expectations.

A Go-To-Market (GTM) Strategy is a comprehensive plan that defines how a product or service will be launched, positioned, marketed, sold, and delivered to target customers.

Hyperautomation is a business-driven approach that combines AI, automation, and advanced technologies to automate complex end-to-end processes at scale.

Kanban is a visual workflow management methodology that helps teams optimize work delivery, improve efficiency, and manage continuous flow.

Lean Product Development is a product management approach focused on maximizing customer value while minimizing waste through continuous learning, experimentation, and iterative delivery.

The McKinsey 7S Framework is a strategic management model used to evaluate and align seven interconnected organizational elements to improve business performance and support change initiatives.

A Minimum Viable Product (MVP) is the simplest version of a product that delivers core value to users while enabling teams to validate assumptions with minimal investment.

MoSCoW Prioritization is a requirement prioritization framework used to classify tasks, features, and requirements based on their business importance and delivery urgency.

OKRs are a goal-setting framework that helps organizations define measurable objectives and track progress through specific key results.

Product KPI is a measurable metric used to evaluate product performance, customer value, business outcomes, and progress toward strategic objectives.

Product Vision is a clear and inspiring statement that defines the long-term purpose, direction, and desired future state of a product.

Product-Market Fit is the degree to which a product successfully satisfies market demand and delivers meaningful value to its target customers.

Prototyping is the process of creating visual or interactive representations of a product, system, or solution before full development begins.

The use of technology to execute recurring business tasks or processes with minimal human intervention, reducing manual effort, errors, and cycle time.

Product Strategy is a long-term plan that defines how a product will create value for customers while achieving business objectives.

Product Discovery is the process of identifying, validating, and prioritizing product opportunities that deliver value to customers and the business.

A Product Roadmap is a strategic plan that outlines the vision, priorities, initiatives, and timeline for product development and evolution.

Product Lifecycle is the progression of a product through its stages from concept and development to growth, maturity, and eventual retirement.

A Product Requirements Document (PRD) is a structured document that defines product goals, features, functionality, and requirements for building a product or feature.

A Product Backlog is a prioritized list of product features, enhancements, bug fixes, and requirements that guides product development activities.

The systematic discipline of discovering, documenting, validating, and managing the requirements for a software system or business change initiative.

Requirement Prioritization is the process of ranking business and product requirements based on value, urgency, feasibility, and strategic importance.

Root Cause Analysis is a structured problem-solving method used to identify the underlying causes of issues, failures, or operational problems.

A RACI Matrix is a responsibility assignment framework used to define roles, ownership, and accountability for tasks, activities, and project deliverables.

Sprint Planning is an Agile event where teams define sprint goals, select backlog items, and create a plan for delivering work during a sprint.

System Analysis is the process of evaluating business systems, processes, and technical requirements to design effective technology solutions.

The process of identifying all individuals and groups who have an interest in or are affected by a project, understanding their needs and concerns, and planning appropriate engagement strategies.

A Software Requirements Specification (SRS) is a detailed document that defines the functional, technical, and non-functional requirements of a software system.

SWOT Analysis is a strategic planning framework used to identify an organization’s strengths, weaknesses, opportunities, and threats.

Scrum is an Agile framework that enables teams to deliver products incrementally through short development cycles called sprints.

A SIPOC Diagram is a high-level process mapping framework used to identify Suppliers, Inputs, Processes, Outputs, and Customers within a business workflow.

Scope Creep is the uncontrolled expansion of project requirements, features, or deliverables without proper review, approval, or resource adjustment.

TOGAF is a widely adopted enterprise architecture framework that helps organizations design, plan, implement, and govern business and technology transformation initiatives.

A To-Be Process is a future-state workflow design that defines how a business process should operate after improvements, optimization, or transformation initiatives.

User Persona is a semi-fictional representation of an ideal customer created using research, behavioral data, demographics, goals, and pain points.

The process of evaluating and ranking potential AI or product initiatives by their expected business value relative to effort and risk, to determine which to invest in first.

User Acceptance Testing (UAT) is the final testing phase where business users validate whether a system meets business requirements and is ready for production.

A UML Diagram is a standardized visual modeling tool used to represent the structure, behavior, and interactions of systems, applications, and software components.

Wireframing is the process of creating simplified visual layouts that define the structure, functionality, and user flow of digital products or interfaces.