The first content chapter in the BABOK® v3 Guide covers the key concepts that you need to understand before attempting to digest the other chapters in the guide. This chapter will describe the newly introduced Business Analysis Core Concept Model™, the key terms used, the standard for requirements classification, and the stakeholders and their relationship between requirements and design.

The purpose of this model is to describe what business analysis is without any regard for which perspective, industry, methodology, or level in the organization it is being performed from. 

The Business Analysis Core Concept Model™ consists of six terms, all of which are intended to represent each concept in the model and should be used as common terminologies to aid with understanding within the profession:

The six terms or concepts are as follows:

• Change
• Need
• Solution
• Stakeholder
• Value 
• Context

Let's consider each of these concepts in turn to understand their meaning.