What is a Business Analyst?
In simple words, a Business Analyst (BA) is a person who uses data analysis to improve the performance and efficiency of a product, process, service, or software. BA works closely with executives, managers, and stakeholders in an organization. They also work together to develop business models that will pave the way for a company into the future. Yes, this may seem relatively easy but the role of a business analyst is rapidly growing in complexity today. Let’s see what a business analyst is doing.
Daily tasks and responsibilities of Business Analyst
- The list of a BA’s skills and daily duties is truly daunting. They should not only possess technical and analytical skills, but also master leadership and communication skills.
- Because BA work with team members and managers, they must have a good understanding of business structures. Then they use this knowledge to assist with making important decisions about the goals and future of a company.
- BA consults with financial teams to understand which solutions are fiscally feasible.
- The IT department then provides them with information about the technological aspects of the newly devised plan.
- Finally, a BA should be creative in interpreting the financial and technical aspects of the plan or solution for the project/team manager.
Important tools are for Business Analysts
Though these job requirements may seem impossible to meet, they are actually not. BA is provided with excellent technology to assist them with their work. These tools are designed to be used throughout every task a BA undertakes. They help collect and sort data, create graphs and visuals, and write and present documents. All of these functions are important for BA to effectively communicate between different departments. Ultimately, the effectiveness of these tools depends on the user’s skills. So, training in these technologies is also required in order to become a BA.
What is the average business analyst’s salary?
A beginner BA makes on average between 50,000 and 65,000 dollars per year. The financial rewards of pursuing a career as a BA are compelling. But that shouldn’t be the only reason to master this profession. There are many good reasons to consider such a career. Information from the US Bureau of Labor Statistics indicates that the employment of BA will grow from 7% to 27% in the next ten years. A stable job and career growth are all promising aspects of becoming a BA. Companies value BA because they are the bridge between the executive and technical departments of the corporation. Their salaries and benefits demonstrate the importance of these professionals.
Data is probably the most valued commodity for many corporations. As organizations have come to realize this, the demand for BA has grown. Making data-driven decisions about the future is a difficult task even for the most established organizations. Integrating technology and finance with business requires skills and expertise that only a BA can provide. This career is a great decision if you are an effective leader, creator, and communicator. If you are interested in learning more about the BA professional, be sure to check out the rest of our articles. Also, you can enroll in our new Business Analyst course. You will receive not only systematic knowledge but also real practical experience.