What is a business analyst?
The business analyst acts as the bridge between the user and a project manager. The needs of business analysts can vary from position to position, and the primary tasks may differ from one business to business, however, their primary function is to analyze, assess and improve processes.
Required Qualification and training
Business analysts generally require a bachelor’s degree because they are a highly competitive profession. Your degree could be from any field however some employers might prefer a degree that is an accounting, business,economics, or numeracy-related field. You can earn your degree by completing the full-time study at a university or by completing an apprenticeship for business analysts.
It is possible to take an introductory course in the business analysis process and the techniques that are required. For instance you can take a certificate course offered by the Chartered Institute of IT.
Business Analyst Job Description
Although there are many aspects of the job business analysts typically follow a pattern of conducting research then presenting solutions and then implementing those solutions using innovative or modified technology. When doing this business analysts may be expected to perform the following:
- Work with colleagues to help them understand the requirements of the business
- Stakeholders should be involved in understanding the product or service provided
- Participate in surveys, seminars and test
- Model and analyze data to draw conclusions
- Develop suggestions and ideas to operational and strategic modifications
- Be aware of the potential and the dangers of these suggestions.
- Develop processes or systems for the implementation of these modifications or modify existing systems in place
- Discuss with the senior management regarding making suggestions to the business
- Write reports that can be presented to stakeholders
- Support staff to ensure solutions are implemented
- Assess the impact of the changes made
Business analyst skills
The essential skills that required by business analysts include:
- Technical Knowledge:These skills include stakeholder management data modeling and understanding of IT.
- Analytical Skills: Business analysts have to analyze large amounts of data, as well as other processes in business to come up with ideas and solve problems.
- Problem Solving: The business analyst’s primary responsibility is to find solutions to the problems of an organization.
- Communication Skills: These professionals must convey their thoughts in a way that is simple for the receiver to understand.
Business Analyst Responsibilities:
- Conducting ongoing review of business processes and formulating optimization strategies.
- Analyzing business processes, anticipating the needs while identifying areas for improvement, preparing and implementation of solutions.
- Be up-to-date on the most recent techniques and technological advancements that help automate and modernize systems.
- Conducting a requirements analysis.
- Effectively communicating your ideas and strategies to team members from different functional areas and the management.
- Making sure that solutions are in line with business needs and demands.
- Management of competing resources and priorities.
Business Analyst Jobs
The job prospectus for Business Analyst needs is increasing each year, particularly in the IT industry. The median salary for Business Analysts is around $80,000 to $130,000 even at entry-level.
International Institute of Business Analysis (IIBA) is expanding exponentially, indicating the increasing need for Business Analyst. Business Analysts remain an important part of the organization since they are required to be in close proximity to the top executives clients, stakeholders, and clients.
Business Analyst Salary
According to the Bureau of Labor Statistics the median salary of a comparable job of management analyst is $87,660 per year with the Top 10 percent being expected to earn more than $150,000 per year. Business analysts can anticipate to see salary increases in the first 5-10 years however, experience gained from the position does not significantly impact the amount of money they earn. Most business analysts have been employed for only 1-4 years and the majority of them move to higher-level roles after 20 years. The positions that are promoted include project manager or senior business analyst.