The initial phase involves a meticulous process of Stakeholder Identification, where key individuals and groups are pinpointed to understand their interests and concerns. Concurrently, Requirement Gathering is undertaken to capture and document the diverse needs of stakeholders. Challenges and opportunities are actively discovered, laying the groundwork for a comprehensive understanding of scope and objectives.

In this phase, a detailed Gap Analysis is performed to assess the existing business processes, systems, and workflows. This phase involves a thorough examination of the business environment, with a keen focus on understanding the strengths and weaknesses of the current state. Documentation becomes a key component, initiating the record-keeping process that will serve as a baseline for future stages.

Continuing with Gap Analysis and documentation, the Future State Prediction stage emerges as a critical juncture. Here, the business analyst envisions and designs a solution for the future state, addressing the gaps identified in the current state. This phase encompasses not only the design process but also involves conducting a Cost-Benefit Analysis to evaluate the potential impact of the proposed changes. The emphasis on continuous improvement ensures that the envisioned future state aligns with evolving business needs.

In the Solution Evaluation stage, the continuous refinement of the solution design is complemented by ongoing improvements. Solutions are rigorously tested and verified to ensure they meet the specified requirements. This stage emphasizes a dynamic process of assessment and enhancement, where feedback loops contribute to the iterative improvement of the proposed solutions.

The final stage, Implementation, marks the culmination of the software business analysis process. The verified solution undergoes validation against the requirements outlined during the Future State Prediction. This stage involves the practical execution of the proposed changes, ensuring a seamless transition from the current state to the envisioned future state. The successful implementation represents the realization of the business analyst's insights and recommendations, contributing to the overall improvement of business processes and outcomes.