A business analyst is someone who studies an industry or sector and documents its business structures, processes, or methods, evaluating the business system or its integration with technologies. The main role of business analysts is to provide business management tools, support systems, and information to business organizations. They play an important role in the successful implementation and management of business solutions. Business Analysts helps in aligning the business objectives, the resources, business plans and strategies, and operational requirements. Business analysts are specialized people, possessing various computer and analytical skills that help in conducting an in-depth analysis of any business structure.
To pursue a career in business analyst career path, you need to be analytical, creative, detail oriented, problem solver, time and attendance tracker, well organized, detail oriented, good problem solvers, detail oriented, decision maker, and interpersonal skills. Some other skills that can help you are computer software, project management, cost estimation, financial modeling, marketing theory, marketing strategy, research management, SWOT analysis, technical skills, and problem solving. Some additional knowledge could also be applied knowledge such as accounting principles, finance, economics, law, supply chain management. If you have these skills then you are eligible for the business analyst career path.
Analysts are categorized into two groups. One is the business analyst, who focuses on basic functions, managing daily business operations, reporting and analyzing operational and statistical data, identifying opportunities for improvement, streamlining processes, improving processes and systems, and developing new business systems. The other group is the business analyst professional, who focuses on analyzing unique problems related to product, operational, and organizational structures. This kind of analyst performs advanced functions, improving existing business processes and systems and looking for new opportunities.
All business analysts have some common characteristics, but there are many unique skills as well. All business analysts must have excellent interpersonal skills and must possess strong analytical and mathematical skills. Business analysts need to know how to work with people, as well as understand and analyze the business requirements. Analysts need to have strong written and verbal communication skills and must possess good organizational skills as well. Most analysts have technical proficiency in various computer applications and would require training and certification in these programs, such as Microsoft Office Suite, QuickBooks, Java, Cisco, SQL Server, Visual Studio, Office Suites, Linux, Unix, PHP, and Unix-OS.
There are four main functions that business analysts perform. They are cost reduction, business growth, customer restructuring, and competitive threats/advantages. Analysts help managers in the strategic and tactical planning, develop and implement an effective cost reduction plan, understand labor statistics, provide alternatives to current approaches, evaluate competitor analysis, and prepare management plans and schedules. These duties are performed by a combination of direct staff work, outsourced work, and internal support from within the organization.
Cost reduction is one of the primary focuses of business analysts. They identify and eliminate unnecessary activities, streamline processes, and reduce overhead. Eliminating costs associated with duplicate or inefficient process is another focus of business analysts. Identifying business needs, analyzing these needs, and creating a business case that details how these needs can be met is another important focus.
A business analyst career requires the ability to communicate effectively with a variety of people. Communication within an organization, whether it is between different departments or within the company itself, is essential. Good business analysts need to understand and analyze organizational structures and networks. Their analyses and discussions need to be relevant to the specific business and its needs.
As you can see, business analysts need a wide range of business analyst skills in order to successfully fulfill their duties. You can enhance your skills in this field by enrolling in graduate studies. This will allow you to specialize in one or more areas of analysis. You can also gain additional skills through hands-on training. However you choose to pursue your career, being a business analyst will prove to be very beneficial and advantageous in the long run.
