We have often come across the term business analysis in respect to the the field of business but a lot of times the actual implications or application of business analysis is missed. Let us try and get a fuller and more comprehensive picture.
What is business analysis and the work of business analysts?
We have time and again proven that age old adage of “change is the only constant factor”; is the only truth. And our businesses are no different; every fiscal year brings new challenges and we have to constantly keep ourselves in sync with the changing market trends so that the objectives of the organisation are maintained and we can have profitable turn over at the end of the year.
This is where the business analysts come into play; they have an integral role in the functioning of any organisation. They unearth the need for change and implement the solutions that will help in giving the maximum return on investment to the stakeholders. Business analysts work through the entire hierarchy of an organisation and take a stock of past values and implement current technologies to take the establishment forward in the future.
Difference between business analyst and business intelligence.
A word that we come across often is data analyst, often in connection with business analyst or even in standalone context. Many people do not understand the fine distinction between the two and is used ambiguously, one for the other. But more often than not, it deals with the statistical analysis of data; hence, the distinction gets blurred within the corporate setting.
Now, to help you get clearer perspective, we shall discuss another term, business intelligence. BI is a conglomeration of technologies, applications for integration, analysis and presentation of business information. It helps to improve the effectiveness, efficiency and productivity of the organisation. which will help them in dodging the competition and keeping ahead in the race.
Pre requisites of becoming a business analyst
Business analysts have a lot of people interaction, i.e, with the client, hence, it is important to be pleasant and be able to explain the points both the problem and solution to them. The various tools that is important to learn or have prior knowledge of before becoming a business analysts are:
- The Microsoft tools for various functioning like documentation, presentation, making flow charts and modelling: Word, Powerpoint, Excel, Visio and other similar tools.
- Apart from this the advanced tools used by Business analysts are:
- Enterptise architecture
- Wrike work management
- Smart draw
There are several other tools which hep in the various component functioning to produce wireframes, prototypes and creation of documentation. There are tools for visualisation and task management, management tools, strategic tools and finally an important functioning in BA is testing. So, you can learn any of the various tools available in the market and approved by the employers.
So, it is essential to get a cohesive business analytics training, it will help take your career forward and give you a flying start.
Career in Business Analytics
In the last couple of decades, the market has shown tremendous growth, with increasing in consumerism, which has led to massive financial boom. But every advantage brings along with it some cons. The competition has grown more with advent of new companies and traditional companies also bifurcating in various different avenues. So, to keep afloat in such challenging times every company whether big MNC’s or small portfolio based company, is employing business analysts to help them emerge as winner in the closely fought rat race. Thus, we can safely say that there is no dearth of jobs for Business analysts and the demand will only increase in the future. A recent survey has shown that by 2030, the demand will reach about 54%.
So, if you want to be ahead of your peers and do something exciting and new, then BA is the way to go. Join any of the several Business analytics training courses that are available, both full time and part time, one that best suits your need and gives you the required comprehensive information.
Some of the job profiles that you might land after completing a business analytics course are:
- Business intelligence
- Quantitative analyst
- Business consultant/analyst
The salary is also very lucrative and keeps you in great demand with employers. So, rush to a training centre and give yourself a flying start.