4 Facts you should know about Business Analysts

Posted on: 23-Apr-2018 | Created By: 361DM Big Data Research Team

You might be asking, “How do I start a Business Analyst career?” The answer to that is what this article is all about! The demand for Business Analysts, one of the most promising career paths in IT today, has been on the rise for a few years now, especially in the West. Business Analysts have a rare blend of business and analytical skills and are rewarded with good pay packages. The average salary of a Business Analyst is about 7 Lakhs per annum.

 

Fact #1: Who are Business Analysts?

A business analyst (BA) is someone who examines an organization or business domain (real or conjectural) and documents its commercial proceedings or processes or systems, considering the business model or its incorporation with technology. The major roles of Business Analysts are Data Mining, Statistical Analysis, Predictive Modeling and multivariate testing.

 

Fact #2: What do they do?

Business Analysts conduct real-time analysis to make major commercial decisions. The primary function of a Business Analysts is to work closely with the senior management team and provide support in making data-driven decision that impacts several processes like product design, development, delivery, marketing and so on.

 

Most management experts believe that Business Analysts combine the role of Market Researchers, Analytics Specialists and Project Management Professionals. A corporate has many problems in the systems, for example – the business model, functional process, or delivery method. Bas use technology architecture, tools, and software application to investigate, renovate and eventually resolve the business glitches with the support of technology.

 

Fact #3: The Demand for Business Analysts

In the United States, the average salary for a business analyst is reaching above $90,000 per year. This is driving more talented, proficient professionals to pursue business analysis careers than ever before. There is a sustained robust demand for business analysts particularly in India where aspirants can find prospects in IT and ITES industries. There are 1.2 million business analysts in India and there’s great possibility of the subcontinent to possess world’s largest Analytics professional by 2020. Retail, Banking, Hospitality, Healthcare, E-commerce and manufacturing are some of the industries that carry huge demand for Business Analysts.

 

Fact #4: Prerequisites of the Business Analytics domain

If you are fascinated in getting into Business Analytics, good analytical and communication skills is a must. Earlier, Analytics jobs were specified only to candidates who had a background in mathematics and engineering. Now, professionals from business background are also finding space. But how is this possible, technically? Business Professionals undergo a process of upskilling themselves with short online courses to start a career in analytics. A few courses that can help:

 

You need not be a Software Developer to become a BA. You will have to develop specific skill such as Statistics with R, Advanced Statistics with R, Data Visualization with Tableau and proficiency with Analytics tools such as Python, RDBMS and Hadoop. These tools can be learnt and mastered in a span of 4-6 months. Learning them online is the best way to save time and enable yourself with necessary skills.

 

Business Analytics is a great filed to pursue a career – a stable and growing career. Start today and see a great tomorrow!

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