As per The PMI Guide to Business Analysis 2017, Most of the business analyses practices gone through from the following process:

NEEDS ASSESSMENT
Identify Problems or Opportunity
Access Current State
Determine Future State
Determine Viable Options and Provide Recommendation
Facilitate Product Roadmap Development
Assemble Business Case
Support Charter Development

STAKEHOLDER ENGAGEMENT
Identify Stakeholders
Conduct Stakeholder Analysis
Determine Stakeholder Engagement and Communication Approach
Conduct Business Analysis Planning
Prepare transition to Future State
Manage Stakeholder Engagement and Communication
Access Business Analysis Performance

ELICITATION
Determine Elicitation Approach
Prepare for Elicitation
Conduct Elicitation
Confirm Elicitation ResultsA

ANALYSIS
Determine Analysis Approach
Create and Analyze Model
Define and Elaborate Requirement
Define Acceptance Criteria
Verify Requirement
Validate Requirement
Prioritize Requirement and Other Product Information
Identify and Analyze Product Risk
Assess Product Design Options

TRACEABILITY AND MONITORING
Determine Traceability and Monitoring Approach
Establish Relationships and Dependencies
Select and Approve Requirement
Manage Changes to Requirements and Product Information

SOLUTION EVALUATION
Evaluate Solution Performance
Determine Solution Evaluation Approach
Evaluate Acceptance Results and Address Defects
Obtain Solution Acceptance for Release

The PMI Guide to Business Analysis 2017