What is Domain Knowledge in Software Industry

Domain refers to a business sector like Banking, Healthcare, Insurance, Manufacturing, etc. It refers to the understanding of the processes, workings and key aspects of the business. For example, If you would like to be good at understanding retail banking, you need to understand the following items:

• The transactions at the banking application (e.g. funds transfer etc).
• The back end processes e.g. what happens when NEFT transfer happens involving messaging from the front end to the back end or the external system.

Importance of Domain-Specific Knowledge

Markets now demand domain and subject experience. Find the following points that say why it is important for a Business Analyst/Tester/Software Engineer.

• To enhance decisions, services, and products by adding intelligence, increasing value and providing flexibility.
• Create a learning organization to sustain a competitive position in the market.
• Help you get into the niche market and stay in demand.
• Provide better job security as a specialized resource.