What is an "impact analysis" in the context of business analysis?

Impact analysis refers to the process of assessing the potential effects that a proposed change might have within an organization. This assessment is crucial in business analysis because it helps stakeholders understand the implications of changes before they are implemented. By conducting an impact analysis, analysts can identify risks, determine necessary resources, and foresee potential challenges that may arise as a result of the proposed change.

Through this assessment, key stakeholders can make informed decisions about whether to proceed with the change, modify it, or abandon it altogether. Understanding both positive and negative impacts allows for better planning and resource allocation, ensuring that any transition is as smooth as possible.

In contrast, the other options describe different aspects of business analysis but do not align with the concept of impact analysis. A study of market trends affects strategic planning but focuses on external factors rather than the internal changes. Evaluating competitor strategies involves understanding the competitive landscape, which, while valuable, does not assess the consequences of changes within one's organization. Lastly, measuring customer satisfaction post-implementation provides feedback on the effectiveness of a solution rather than analyzing the direct effects of a potential change prior to its implementation.