Wikipedia defines:

"Business analysis is discipline of

• identifying business needs and
• determining solutions to business problems.

Solutions:

• often include a systems development component,
• may consist of process improvement or organizational change or
• strategic planning and
• policy development. "

Analysis of business needs should start by looking outside your organization. What is happening in your environment

• domestic and international economy
• trends in buying, technology, savings
• competition
• credit availability

Then the organization should review its solution to business problems.

• What is your solution?
• How is your solution better than competition?
• Is your market growing or flat?
• Are alternate products or services available?