Every business starts with a goal in mind and that is, in most cases, profit and expansion. While the goal seems to be pretty straight forward the means to achieve them are often difficult and the whole process is always giving birth to numerous problems. There can be no end to these problems as long as there are any ventures at all. This implies that there can never be a time when business analysts are not needed. If you are a business analyst your role is pretty simple; you need to go through all business oriented data, try to find out what is going wrong and what is going right for the business, try to find areas where more attention is needed, attract the attention of management towards those areas, ensure more profit and faster expansion. Now, that sounds pretty farfetched for one single person’s job-role, but this is pretty much it.
Why should you consider business analytics as a career?
Well, the best answer would be: because it is exciting. In this profession you work like a bridge between various sections of an enterprise and at every passing moment you realize how indispensible you are for the whole venture to work smoothly. You find problems, find solutions, make sure that the solutions are applied. At the end of the day you will find that you have helped a number of people to express their views, present their confusions and find suitable answers. That is good work.
Why are you needed?
Every business is suffering with a desire to grow bigger – that is a good disease to suffer from; you are supposed to be the doctor and prescribe the required modifications. Business analytics has everything to do with increased profitability. It involves some methodical steps and the use of certain tools. It eventually helps to identify the areas the management needs to focus upon in order to draw more profits. A companies smooth functioning and profitability is greatly dependent on efficient business analysis. Business analysts are quite indispensible in a large scale venture and very advantageous in a small scale scenario.
How do you prepare yourself?
If you are a student of business administration you are already aware of the application of business analytics and the various techniques involved in it. But in order to succeed in a real scenario, where you need to solve real problems and earn real currency for your company the knowledge you gathered from a university course might not suffice. It is always advisable that you undergo professional training. You can enrol for business analytics course online; this is an option both profitable and affordable for students and job holders alike. The first thing you need to do is run a search for the institutes that offer business analytics course online and then pick and choose the most suitable one from amongst them.
Practical exercise in problem solving matters a lot in this field. You need to make sure that the course you are choosing provides you with a decent amount of evaluative material.
What do the opportunities look like?
It exists in various shapes and forms across all the industries that have an agenda to grow. Business analytics can be applied for descriptive analysis, predictive analysis and prescriptive analysis. It can be used to determine the right amount of money that should be invested upon a certain line of products or on a certain mode of sponsored marketing. These requirements are there in every business from manufacturing to retail; so the opportunities for business analysts come from a large range of industries.
There are certain things you should be careful about:
- Business analysis is performed with large volumes of data. But you cannot trust the integrity of such a large volume of data.
- It is risky to bank too much upon a trend. While catching the edge of the trend helps the business a lot, one must remember that trends pass faster than they arrive.
- Be hungry for success but ready for failure. Failure may come but you should not succumb to it.
Business analytics, matched with big data analytics can perform wonders for a company. An interesting and exciting career awaits you – make haste, get ready for the opportunity.