Business analysts are one of the most in-demand business professionals in the 21st century. Business analysts make up a major part of analytics and business teams in any present-day company, and help it grow and expand.
Before you leap into enrolling in a masters in business analytics programme to understand why business analytics is important, we suggest you read this blog. It can give you a clearer idea of the likely job description of a business analyst and how you can become a successful business analyst in 2022.
Why are business analysts important?
You can define business analysis as a process of analysing different business and financial data to recommend solutions for business problems. It’s a research-driven process that can help deliver immense value to the company and its customers.
Business analysts are important contributors to a company’s strategy-making process and optimisation efforts. Business analysts are also involved in framing the architecture of the company to help it grow and expand.
Without a capable business analytics team, a company can’t take stock of its weaknesses and vulnerabilities and can’t come up with efficient solutions for them. This can impact its overall growth and performance.
What do business analysts do in major companies?
Although the exact job description of business analysts can vary from one company to another, here are the core responsibilities of an analyst in a business organisation.
- Taking stock of business requirements
- Project management and resource planning
- Creating and modelling business plans
- Collaborating and communicating business models with CXOs
- Devising a robust customer relationship management wireframe
What are the major skills you require to be a business analyst in 2022?
Business analysts often have to rely on their extensive knowledge of business operations and financial acumen to do their job extensively. Therefore, the role requires a comprehensive set of skills and competencies that you need to develop for the job.
Here are the essential skills that are expected of a good business analyst.
- Business management
- Expertise in business technology
- Data analysis skills
- Documentation skills
- Problem-solving and critical thinking skills
- Organisational and time management skills
- Communication and negotiation skills
- Listening and people management skills
What kind of business analytics tools do you need to learn to be a business analyst?
As a business analyst, you are also expected to know about and work with different analytics tools and technologies within the business domain. Here are some of the most common business analytics tools used by analysts today.
- MS Office
- Oracle NetSuite
- Wrike
- Trello
- Xplenty
As technologies develop further, you can expect more tools and apps to join this list. A capable business analyst should keep track of all the latest analytical tools in the market and should know how to use them.
Enrolling in a good business analysis course can acquaint you with all these tools and also help you amass considerable expertise in analytical techniques. A good course can also help you improve your career prospects and broaden the scope of your professional career as a business analyst.
Start your search for the right business analytics programme near you today!
