Business analysts are in-demand professionals. Both job opportunities and remuneration are growing for the role. Discover how to become a business analyst in 2025.
Business analysts are the changemakers of an organization. They use their multidisciplinary skills to improve business processes, make strategic business decisions, and identify opportunities to improve business outcomes.
Today every business needs a business analyst to help them navigate the evolving industry landscape and stay ahead of the curve. Thus, the demand for business analysts is significantly high. Between 2022 and 2032, the market for business analysts is expected to grow by 9.7% in the U.S.
What do Business Analysts do?
From acting as liaisons between IT and business teams at software agencies to improving marketing and finance operations at companies, business analysts play various roles in the industry. In a nutshell, their responsibilities vary across companies.
They play the part of a project manager – by managing a project from start to delivery; they analyze data and build reports for leadership teams. They conduct research and stay updated with the latest trends and conventions that are shaping the industry.
However, there are four key tasks that a business analyst commonly performs:
1. Build strategic plans
Identify opportunities to improve businesses and enable teams to realize the opportunities that help businesses to thrive.
2. Solve business problems
Think critically to understand the challenges of the business and solve them to derive better results.
3. Analyze data
Analyze available data and spot business areas that can be made better. Share the reports and improvement recommendations with stakeholders and business teams.
4. Design processes
Build processes that maximize efficiency and improve business outcomes.
Skills required for a Business Analyst
The role of a business analyst is cross-functional and needs people to have technical and collaborative skills. To excel as a business analyst, you will need these skills.
1. Business acumen:
A business analyst identifies opportunities to help a business improve its operations and processes. Understanding the various business functions, including finance, accounting, marketing, etc. is essential to see the gaps and determine the best way to fill them.
2. Communication:
A business analyst speaks to several people in an organization, including leadership teams, developers, and other stakeholders. So, you should be able to communicate your ideas well.
3. Data analysis:
A business analyst’s role revolves around recommending solutions, and data is a key component to make that happen effectively. Data-driven approaches need to gather and analyze data regularly to check the effectiveness of the solution. Knowledge of tools like Power BI, Tableau, Excel, etc. is helpful to excel as a business analyst.
4. Business analysis technique:
Knowledge of strategic decision-making tools like SWOT analysis and other industry-specific methods such as Agile Business Analysis, Six Sigma, and Rational Unified Process, etc. can help to excel as a business analyst.
How to become a Business Analyst?
The simplest route to becoming a business analyst is to pursue a degree in business analytics and do internships as you move closer to your graduation until you find your first full-time role in the industry. If you don’t have a degree in business analytics, here are a few steps you can follow.
1. Get a bachelor’s / master’s degree
A degree in finance, business, marketing, accounting, or a related discipline is essential to get your foot in the door as a business analyst. If you’re yet to pursue your undergraduate/postgraduate degree, you may consider these programs in business analytics.
A) Bachelor of Business Analytics from Deakin University
The undergraduate 3-year online program gives you hands-on experience with real-world projects.
B) Master of Science in Business Analytics (MS – BA ) from Arizona State University
The program is 9-16 months long and offers five distinctive tracks namely – supply chain analytics, fintech, marketing analytics, big data, and tech consulting for specialization.
2. Take an online course/certification
Business analysis is an evolving field. Both self-paced online programs and offline courses help to up skills to the current demands of the role. If you’re a seasoned business analyst and want to move to a leadership role or want to switch to a business analyst role, taking a business analyst certification can be a good option.
If you’re starting your journey in business analysis, certifications like ECBA and CFLBA will be helpful as they are entry-level certifications. However, if you have some professional experience in business analysis, CCBA, CBDA, CBAP, CALBA, and similar certifications will be better.
3. Build a portfolio
Use the projects you do in your course/certification to showcase your skills and experience. If you don’t have that, take up a few real-world projects to demonstrate your skills and expertise in business analysis.
4. Get an entry-level job
Once you have completed projects and have a portfolio to showcase, build your resume and start applying for business analyst jobs. Read common questions asked during the business analyst interview before you appear for interviews.
Conclusion
Business analysis is a rewarding career to be in. Companies of all sizes need business analysts to transform their business processes and enable them to thrive. Both job opportunities and remuneration for business analysts are growing. If you’re looking to make a career as a business analyst, get started today!
Related: The Future of IT: Predictions and Trends for Businesses in 2023
Related: LOE in Business Management: Steps, Overview, and Importances
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2025-01-14 04:31:03
