Are you curious about organizations and how they work? Do you have an eye for detail—always searching for ways to improve internal processes? Do you want to be part of businesses that achieve their full potential?
If the answer to these questions is yes, then working as a Business Analyst could be a career fit for you.
As businesses seek to increase efficiency and reduce costs, business analytics has become an important component of their operations. Business Analysts are present in almost every sector from non-profit companies to retail, and the financial services. This means that Business Analysts must have a specialised knowledge of the sector they are working in, how it operates, and how the organisation functions in order to work towards achieving its business objectives.
Let’s take a closer look at what business analysts do and what it takes to get a job in business analysis.
Who is a Business Analyst?
What does a Business Analyst Do?
- Understanding what a business does, including most significantly, the processes through which they accomplish their work.
- Evaluating those processes for efficiency, cost, and results.
- Communicate changes, recommendations, and procedures to business teams.
- Remain engaged with business leaders to help them understand how changes impact the goals of the organization.
- Leading the research, design, and implementation of any technology or processes that require a more substantial technical understanding within the group, including the development of functional specifications.
- Managing projects, developing project plans, monitoring performance, and ensuring timely turnover of deliverables.
- Planning enterprise architecture (the structure of a business)
- Forecasting, budgeting, and performing both variance analysis and financial analysis
What is the Salary of a Business Analyst?
What Are Some Alternate Job Titles for a Business Analyst?
- business systems analyst,
- senior business analyst,
- process analyst,
- enterprise analyst,
- business architect and functional analyst,
- management consultant,
- product manager,
- requirements engineer,
- business intelligence analyst and more.
Did you know?
The Bureau of Labor Statistics estimates the need for business analysts to increase 14% by 2024. This is one of the highest average percentages among growing occupations.
What Skills Does a Business Analyst Have?
- Problem Solving—Identifying what practices or procedures are not operating to their highest functionality and being able to formulate and implement relevant solutions.
- Process Improvement—Uncovering inconsistencies or inefficiencies in business processes and making actionable suggestions for enhancement.
- Communication and interpersonal skills—Translating data, findings, and suggestions from a high-level technical language into information that stakeholders can understand.
- Critical Thinking—Due to the need to process large volumes of highly complex information regularly, well-developed critical thinking skills are imperative for successful business analysts.
- Project Management —At times, a business analyst’s role will take on the qualities of a project manager’s. This happens most frequently during the planning and implementation of change, and involves connecting business and technical team members, keeping everyone working towards a singular goal, and overseeing timelines, budgets, and priorities.
- Commercial awareness
- Time management and organisational skills
- Analytical skills – As the name suggests, finding practical solutions to theoretical problems requires analysts to be deeply analytical. After all, one part of the job is analyzing data, documents, user input surveys and workflow—all sharpening business practices.
- Leadership and management skills – Whether planning project scopes or directing staff, handling changes or forecasting budgets, one thing is certain: Business analysts often employ project management skills.
Typical Sectors and Employers of Business Analysts
- Specialist business analysis firms
- Consulting and professional service firms (including technology consulting companies)
Public sector organisations (such as county councils)
Health Care Clinical research / Pharma companies
Finance / Banking /Investment sector
Human resource management / Talent acquisition
Retail / E commerce
Logistics / Supply Chain
How Do I Become a Data Analyst or Business Analyst?
If all this talk about business analysis has you intrigued about pursuing it as a career, then there’s good news for you!
Still have questions about becoming a data analyst / business analyst?
- If you want to get a taste of our Data Analytics Bootcamp, check our FREE Data Analytics info session.
- Join VCA for a FREE IT webinar to find out the right career pathway to your dream IT job.
- Fill out this interest form and we will reach out to you with complete program info.