This is a difficult one to define. We all know the life cycle of software, be it a product or service or a feature. The following is an attempt to provide the life cycle of business analysis at very high level.
Product marketing team comes up with a high level direction of different features that should be part of the product/service for a particular release or financial year based on the approval from the senior management.
They provide the overview of the high level direction to all the stakeholders. This will be primarily based on the following factors:
- Market Research
- Competitive Analysis
- Product Direction
- Sales strategy
- Client feed back
- Missing features in the product suite
Then analysis team details these requirements and periodically walks through all the stakeholders and gets it signed off from the Product Marketing team. They also may get the product/service mock ups in order to make sure that they are understanding clearly what the Product Marketing is saying. Once they come to an agreement, Analysis team works with the software development to build the product. So, they will create requirement specification documents, process flow diagrams, mock up UI screens and other requirement documents as needed for the software development teams. They will be reviewed among all the stake holders (Senior Management, Software Architects, Software Development, User Interface and Software Testing) and get them reviewed periodically.
For service organizations, the Client will give the requirements. So, the Marketing/Product Management team will be the client's team primarily the same personnel. However, the business analysis team may not have direct access to team.

