Data is used by business analysts to create business insights and advocate improvements in corporations and other organizations. Business analysts may detect problems in almost any aspect of a business, including IT processes, organizational structures, and employee development.

As companies strive to improve efficiency and save expenses, business analytics has become an essential component of their operations. Let’s look more closely at what business analysts do and how to acquire a career in business analysis.

What is the role of a business analyst?

Business analysts find opportunities for improvement in order to boost efficiency and strengthen business operations. They frequently collaborate with colleagues at all levels of the organization to discuss their findings and assist execute improvements.

Tasks and responsibilities may include:

  • Identifying and prioritizing the functional and technical needs and requirements of the organisation
  • Analyzing massive data sets using SQL and Excel
  • assembling charts, tables, and other data visualization pieces
  • Developing financial models to aid with business choices
  • Understanding corporate strategy, objectives, and needs
  • Enterprise architecture planning (the structure of a business)
  • Forecasting, budgeting, and carrying out variance and financial analysis

What exactly is the distinction between a business analyst and a data analyst?

Data analysts and business analysts both support data-driven choices in their organizations. Business analysts are more concerned with providing solutions to business problems, whereas data analysts are more concerned with the data itself.

More here: What Is the Difference Between a Data Analyst and a Business Analyst?

Why should you seek a profession in business analysis?

As a business analyst, you will have the chance to contribute to the success of your firm through data-driven insights. It’s a job where every day offers new challenges and opportunities to put your abilities to use. A career as a business analyst might be a good fit if you love assisting others, asking questions, solving issues, and working autonomously.

Salary of a Business Analyst

According to Glassdoor, The average income for business analysts in the United States in December 2021 is $77,218. Your actual wage will depend on the firm, region, and level of expertise.

Job prospects

The need for business analysts has risen in recent years and is expected to rise further. According to the US Bureau of Labor Statistics (BLS), job growth for similar professions will vary from 7% (computer systems analysts) to 25% (operations research analysts) between 2020 and 2030. Management analyst and operations analyst are two related job titles that perform activities comparable to business analysts.

How to Advance Your Career as a Business Analyst?

To become a business analyst, you may need to acquire skills and qualifications relevant to the job and sector you want to work in. Coursework, certificates, and degrees can all help you on your way to becoming a business analyst.

Improve your business analyst abilities

As a business analyst, you should have the following competencies.

Business acumen: A thorough grasp of finance, accounting, and business concepts can assist you in identifying operational challenges and determining the best way to solve them.

Communication: A business analyst is frequently asked to communicate with a variety of internal stakeholders, including top management and other teams. As a business analyst, you’ll need to be able to express your ideas effectively and convincingly, both vocally and in writing.

Data analysis: A business analyst’s job will revolve around gathering, measuring, and evaluating performance measures. Knowing how to use data analysis and visualization tools like Tableau, Excel, and BI Tools may be beneficial. Knowledge of a programming language, such as SQL, may also be useful.

Business analysis approaches: Depending on your sector, being familiar with certain methodologies such as Agile Business Analysis, Six Sigma, or Rational Unified Process may be beneficial.

Industry knowledge: Each industry has unique business requirements and problems. Developing business solutions for an IT firm may appear different from developing business solutions for a health care organization. Experience in the industry, even if in a different function, might provide you a competitive advantage when applying for opportunities.

Enrol in a class

Refreshing your understanding of the abilities demanded of a business analyst can demonstrate to employers that your knowledge is current and acceptable. Coursework, whether in person or online, may provide you with the tools you need to break into the profession of business analytics.

Courses in data analytics or business analytics might help you gain a comprehensive grasp of the work. Alternatively, you may become acquainted with the technologies used in business analytics by taking courses in Tableau, Excel, and MySQL.

Obtain a qualification as a business analyst

Earning a certification can help you broaden your skill set, enhance your salary, and make you more competitive for employment. Consider the following business analysis certifications:

  • Business Analysis Entry Certificate from the IIBA (ECBA)
  • Certified Business Analysis Professional (IIBA) (CBAP)
  • IIBA Capability in Business Analysis Certification (CCBA)
  • PMI Business Analytics Professional (PMI-PBA)

If you’re starting out as a business analyst, the ECBA can demonstrate to hiring managers that you’ve completed many hours of training and understand the fundamentals of business analysis. If you have some expertise with business analytics, the CBAP, CCBA, and PMI-PBA can demonstrate your skill and experience to potential employers.