Defining the business problem is the task of identifying and describing the root cause or causes of a situation that prevents the organization from achieving its desired goals1. As part of this analysis, the business analyst should consider the following elements2:
The adverse impacts of the problem, such as reduced revenue, increased costs, customer dissatisfaction, or regulatory non-compliance.
The benefits from a potential solution, such as increased efficiency, improved quality, enhanced customer loyalty, or competitive advantage.
The urgency of the problem, such as how quickly the problem needs to be solved, what are the consequences of delaying the solution, and what are the dependencies or constraints that affect the timing of the solution.
The underlying source of the problem, such as the gap between the current and desired state, the root cause or causes of the gap, the assumptions or constraints that influence the problem, and the stakeholders who are affected by or can influence the problem.
The other options are not elements that should be considered when defining the business problem, but rather factors that may be relevant for other tasks, such as evaluating solution options, conducting market research, or analyzing requirements. Reference:
1: BABOK Guide, Version 3.0, p. 30
2: Business Analysis Expert Certification, CCBA| IIBA