What is the term for the process of deriving and extracting information from stakeholders iteratively?

The process of deriving and extracting information from stakeholders iteratively is known as elicitation. This term encompasses a range of techniques used to gather requirements, insights, and feedback directly from stakeholders. Elicitation often involves ongoing interactions in which information is refined and clarified through discussions, interviews, surveys, and workshops.

The iterative nature of elicitation is crucial because it allows for continuous improvement and adjustment of the requirements based on stakeholder input and changing needs over time. By engaging with stakeholders multiple times, analysts can ensure that they fully understand their requirements and address any concerns or new insights that may arise throughout the project lifecycle.

This process is integral to effective business analysis as it helps ensure that the final outcomes align with stakeholder expectations and business objectives, providing a solid foundation for subsequent project phases.