What does the term 'baselining' refer to in the context of business analysis?

Baselining in the context of business analysis refers to the process of establishing a reference point or a standard against which future performance, requirements, or products can be measured. It involves assessing current solutions to understand their capabilities and limitations, which helps in identifying areas for improvement and comparing future changes effectively.

When baselining is performed, business analysts gather existing data and information about current processes, systems, or solutions. This process allows for the identification of what is working well and what is not, thus providing a clear picture of where the organization currently stands. By establishing this baseline, analysts can track progress over time and evaluate the impact of any new changes or enhancements against the initial state.

This concept is crucial for effective business analysis because it ensures that any future developments are aligned with established standards and requirements, and allows for a structured approach to measuring outcomes and success.

Other options such as developing new solutions, gathering all requirements, and documenting standards for future analysis reflect different aspects of the analysis process but do not capture the essence of baselining, which is specifically about assessing and establishing a reference point based on current performance.