The value of business analysis is to reduce the overall costs of the delivery of projects. We do this by:

Reduction in rework — if you help focus the team on the right requirements, then there should be a reduced amount of unnecessary change. There will always be some change, as implementation encourages learning. But many projects are plagued by change because requirements are not well understood. And this kind of change is a waste.

Reduction in requirements churn — Stakeholder time is valuable, but without someone in the business analyst role, stakeholders might spend excess time in unproductive discussions. An analyst can help drive a logical and efficient decision-making process, track open issues, and document discussions, reducing the amount of time spent rehashing previous discussions and going down rabbit holes.

Discovering more cost-effective solutions — When the business analyst is licensed to find any number of solutions to a problem, specific solutions that may not involve information technology, the business analyst actually might help reduce costs by finding more cost-effective solutions.