Business Analysts
"Business Analysts fix broken businesses"
Careers for business analysts are not only lucrative but they are also very satisfying. Business analysts are responsible for
analyzing the workings of an organization along with the design of business methods being used and creating a bridge between management, front line
employees and customer needs. It is the analyst's jobs to understand client and market requirements and devise solutions. So, they have a major
say in changing the way in which business is done in an organization. If you are interested in a job as a business analyst, here is a look at the
responsibilities of the position, the educational qualifications, remuneration, working conditions and more.
An Overview Of Jobs For Business Analysts
The role of business analysts is not restricted to technical aspects; they often play vital roles in marketing and finance as well. There are two ways in which you can work as business analysts, you could either be employed with an organization or you could
choose to be an independent contractor. The sector can be divided into four distinct tiers that include:
- Strategic planning: Analyzing and providing for the organization's strategic business requirements
- Operational Analysis: Defining and analyzing the operational policies and market strategies and approach of an organization.
- Process analysis: Modeling of the business process through process design
- IT/ Business Systems analysis: Defining the functional requirements of an application and proposing changes to client business processes
What Do Business Analysts Do?
An analyst in a business is expected to analyze and critique the various business functions including finance, marketing, IT etc to improve the
productivity and efficiency of an establishment. A professional in this position also helps the company to optimize its day to day operations and
evaluate the structure of its business.
Business analysts are generally hired by companies to solve business problems, to streamline their business practices and to gain an edge
over their competitors. It is the analyst's job to scrutinize the various operational procedures of the company and find solutions, which will help
the company to function efficiently.
In some companies analysts are also expected to focus on the issues concerning the major stakeholders of an organization; they have to
routinely write reports with specific recommendations.
Educational Qualifications
and Other Skills Required
You will need a bachelor's degree to get business analysts jobs with a major in industrial engineering, business management, finance
or computer science. You should also consider becoming certified. One such certification is the Certification of Competency in Business Analysis
from IIBA. Other organizations offer certification, however just make sure that you go to a respected and accredited establishment to earn your
credential.
Apart from this, you will also need to have an in depth understanding of organizational skills and superlative interpersonal skills. It
would also help to study UML (Unified Modeling Language) which is commonly used in IT.
A Business Analyst's Workday
The workday of business analysts includes the following tasks:
Scheduling clients: Whether you hold a job in an organization or work as an independent contractor, you will need to spend a lot of time
talking to the business and IT operations teams. Also, you will need to frequently schedule projects for different clients.
Observation: An analyst spends the majority of his time observing the day to day operations of the various departments. He will spend a lot
of time each day observing the requirements of the organization, business process flow, the various systems available to the staff and how these are
being used to optimize the workings of a department. Additionally, you may also have to spend a significant amount of time studying the client
procedures and policies.
Review and Analysis: The data procured through observation, meetings and discussions is then compiled and analyzed. Also, the analyst will
have to review previous reports that help to understand the issues afflicting the day to day operations of the company.
The analysis phase will finally lead to the solution phase wherein the analyst will be expected to provide solutions to streamline the
business process.
Preparing Reports: Once the problems have been analyzed and solutions have been devised, an analyst has to put it all down in black and
white, in the form of a report. Business analysts will have to provide detailed reports on the various solutions proposed by him and how each of
these help to solve a specific problem. Financial estimates will also be part of such reports
Client meetings: Business analysts will also need to spend a considerable amount of time interacting with the internal or external
clients.
Salary Expectations
The average salary of business analysts is $81,000 per annum. A junior business analysts will likely start at about $48,000.
Working Conditions
Business analysts work out of convenient and comfortable office environment with little or no fieldwork involved depending on the nature of the
organization. The position entails constant communication with the clients and the development team.
Promotion Opportunities
While you may start at the entry level position of junior business analysts, you can quickly progress to senior levels if you apply yourself. After
garnering 3 to 5 years of experience, you will have the option of working as an independent contractor.
Why You Should Join
The Ranks Of Business Analysts
Business analysts are an asset to the organization who helps to streamline processes and increase the efficiency of an organization and its
profits. People in this position share a good rapport with almost all the departments of the company.
Because of the immense competition, several sectors offer rewarding prospects for well qualified and experienced analysts including
pharmaceutical, finance, insurance, banking, IT/ITES, healthcare, budgeting and others.
As a matter of fact, it can be safely said that all companies; regardless of the sector that they operate in, need business analysts.
Although it can be difficult to find an entry level position in the business analyst field, once you secure a job and get the perquisite experience, you
should have no dearth of job opportunities.
Business analysts enjoy greater job security because of the versatility of their positions. Research also indicates that the sector has
been sparred the ill effects of recession because companies require new ways of thinking even in a glum economic scenario.
Because a business analyst is expected to have in depth knowledge about the various business functions, a person in this position can
readily change his expertise in the different facets of business to look for alternative employment. For instance, technical know how can be used to
secure employment as a QA. On the other hand, product industry specific product knowledge can be used to work in marketing and sales. Also, the knowledge
of the various sectors can help a business analyst move up the corporate ladder to managerial positions.
Since an analyst working in a business is on both sides of the company, the clients as well as the organizations, regardless of how the coin flips,
he always has it landing back safely into the business analysts hands.
BABOK - The Business Analysis Body Of Knowledge is a repository of the fundamental techniques of the business analyst.
What Is Business Analysis? - Learn about the techniques and methodologies of Business Analysis.
Business Analyst Salaries - How much should you expect to earn?
Business Analyst Job Description - Learn what the important parts of the job description that should be included in your resume.
Business Analyst Job Resume - Construct the perfect resume for your new Business Analyst job.
Business Analyst Interview Questions - Know the answers before your Business Analyst job interview.
© 2006 - 2012 Stellar Force
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