Business analysts are one of the prominent roles in any organization who are currently working for businesses, IT people, non-profit companies, and governing bodies. Many companies hire these professionals to support them by creating new goals, generating solutions, and reaching the desired objectives. Sounds interesting, right? Let’s get to know more by answering the question “What does a Business Analyst do?”.
What Does a Business Analyst Do?
Business analysts are the bridge that fills in the gap among every department throughout the organization. They create a layered structure for understanding the business. They also help in addressing many operational issues. They identify missing pieces of a system and will build more efficient features to that system. They also improve the organization through studying, documenting, reporting, budgeting, pricing by using the new technologies.
A business analyst in the IT department acts as a liaison between the customer and software developers. He/she then makes a set of protocols and understands the current processes of the clients. They give suggestions for improving those business processes and will also indulge themselves in the project.
BAs are included in the initial phase of the project to gather the information that helps in implementing the plan. Analyzing the data collected is also one of their jobs, which is done by studying the data in many patterns and trends. Along with this, they take the observations, analyze results, and document them through written format or visually using graphical representations.
A business analyst’s task does not end here; They are indulged in every department of the organization and in collaborating with each of them. Now that we know what a business analyst does, we shall focus on a business analyst’s role.
Now let’s get deeper by knowing the roles and responsibilities of a BA.
Requirements management is one of the key roles of a BA during the analysis of a business. This means either bringing out technical solutions to problems in a business or improving the company’s sales revenue by creating, explaining, reporting, and evaluating the requirements. They begin to fulfill business needs once they start using their capabilities.
To understand their roles thoroughly and get familiar with them, let’s check out some of these professionals’ most significant roles.
Knowing these roles, we shall look into some of the responsibilities of a business analyst.
Business Analyst Responsibilities
Along the journey to becoming BAs, their responsibilities increase gradually. They are mainly responsible for increasing business efficiency. Many companies hire these professionals to solve problems, set new objectives or goals, and reach the expected results. Many others also rely on business analysts to carry out their responsibilities and effectively use their skills for gaining the best results. Some of the primary responsibilities are:
- Identify the areas of improvement
- Check the current trends in the business processes
- Research on the new advancements of the IT to improve the system
- To create innovative ideas
- Develop good projects and monitor the project performance
- Collaborate with users and stakeholders
- Design of business systems or IT systems
- Solve business problems and formulate technical solutions
- Document the functional and non-functional design of the system
- Interact with system architects and developers to monitor the successful implementation
Along with the roles and responsibilities, a business analyst is also required to learn some skills. So, now let’s discuss the skills of a business analyst.
Business Analyst Skills
Business analysts help organizations improve their functions by identifying needs. They then provide solutions to add value and opportunity. This requires collaborating with many departments like finance and IT teams to develop data models that will drive business decisions. To perform all these functions, skills are required. They use a bunch of skills to complete their work. Some of them are mentioned below:
Technical knowledge is essential for any BA to cope up with the current trends. These skills include data modeling and analysis, SQL queries, software testing, etc.
BAs have to analyze a massive chunk of data. By doing this, they can also fix problems. To do all this, analytical skills are required.
Hard Skills refers to job-specific skills, which mainly focuses on practical knowledge of the subject. These include having a proper understanding of the industry, advanced statistical modeling, web development, etc.
Soft skills are those which are essential for the functioning of an organization. These are not job-specific, but every business analyst must possess this. Some of them are communication, creative thinking, negotiation, etc.
Problem-solving skills are not specific to any job, but one must necessarily have these skills. These skills make any business analyst choose the correct decision and the right path that enhances the organization’s proficiency. Creating new solutions to the organization’s problems, decision making, etc., are included here.
With thorough research on the new processes and software, one can present effective results. Researching the data on the current trends of different companies, studying the method to improve its efficiency, etc., are all included here.
After knowing various skills of business analysts, we shall look into some of the business analyst’s techniques.
What Techniques Do Business Analysts Use?
Business analysts use many techniques that help them analyze business processes, which creates better efficiency. Some of these techniques are:
SWOT Analysis: Strength, Weakness, Opportunities, and Threat. Used in a business through different forces.
MOST Analysis: Mission, Objective, Strategy, Tactics is a simple technique that is used in analyzing and in planning the details of what a company will do.
PESTLE analysis: Political, Economic, Social, Technological, Legal, and Environmental. This particular technique is used for identifying changes in the business. It helps a company to establish the external factors that will impact decisions by themselves.
Mind-Mapping: A graphic method used in showcasing the plans and ideas for generating, analyzing, and implementing innovative ideas.
Brainstorming: A technique used for solving problems, generating ideas, and finding the relevant facts.
Knowing various business analysis techniques will help assist in your business analysis career.
Future Growth of Business Analysts
There is no confusion that business analysis will be in great demand. They now have gained a great scope. The BA role is an essential factor for a company’s success. According to the U.S. Bureau of Labor Statistics, business analyst jobs will grow by 14% between 2018 and 2028, which is 5 percent faster than the average for all other occupations. As per the BA Times, the number of jobs for the US business analysts will increase from the current 364,000 openings to 2,720,000 by the end of 2020.
Over the past few years, many professionals are chasing after a business analyst job. Today, business analysts are one of the trending roles which are offered with the highest package. They are a crucial part of a developing business.
A business analyst’s role is multifaceted, which helps you gain financial stability and professional growth at the same time. Business analysts help in working with other core companies and meet their demands. Hence, you can find great success as a business analyst. So, step ahead to become a great business analyst.
One prominent way is by getting business analysis certifications. We, at Invensis learning, provides you two certification course