It can be used by waterfall methodology to deliver business requirements, business process models, or business data models to articulate core Business Requirements Document BRD. For Agile projects it successful for creating product backlogs or for elaborating user stories.
Workshops can be for two to three days, or four to five weeks and can be virtual conference call or face to face. To ensure project is in a good shape, consider the critical success factors depends on stakeholder support for your project, highest priority for the workshop participants, the contributors who will attend have the necessary expertise (such as SMEs), and authority (such as stakeholders).
Business Analyst or PM should know all necessary business analysis tools and techniques, this facilities virtual and/or physical support. Finally the deliverables have to be SMART.
SMART : Specific , Measurable, Achievable, Relevant and, Time bound
BA needs to have appropriate automated tools to support the creation of the deliverables, if your project meets these criteria, workshop will help you get the right requirements faster, cheaper, better than conventional business analysis activities.
If getting the right requirements rapidly is important to you, workshops delivers.