A business analyst is a person who scrutinizes an organization or business in specific areas using analytic techniques that evaluate processes, systems, and people (teams) to determine whether they are meeting company objectives. Their duties and recommendations are often defined by senior management.

A business analyst is generally a staff role within a company, or may be an outside consultant. They help guide businesses in improving processes, products, services, and software through data analysis. A business analyst’s insights often improve the company’s function and profitability.

The best way to size your markets is to really define the customer characteristics of the people or other companies that are your best customer prospects. You can then use extensive data sources available to businesses (ZIP Code demographics, Dun & Bradstreet company information, data from industry associations and chambers of commerce, etc.) to make profit estimates for your business.

Sometimes businesses will also use panels of customer prospects to determine their product or service appeal. Forecasts are generally made for both short-term business within the next year and longer five- to 10-year time frames. The later forecasts are used for business planning.

Some companies offer a substantial amount of public information, such as their 10Ks, quarterly reports, and analyses conducted by outside business analysts. Regardless of whether a company is public or private, you can find a lot of information on their website or public data sources such as the Dun & Bradstreet report. Their customers can also be a great source of information about the quality of their products or services, pricing, etc.