Business Understanding

Business understanding is the process of clearly defining the goals, challenges, and needs of a company or project. It involves grasping what the business aims to achieve, identifying key problems or opportunities, and understanding how different factors impact success. This step ensures that subsequent data analysis or strategies are focused and relevant. Essentially, it’s about getting a thorough picture of the business context to make informed decisions, align efforts, and set realistic objectives that support the organization’s overall mission.