Entrepreneurship ยท 2 May 2021

What are business analyst skills?

What are business analyst skills?

Business analytics is an exciting world of opportunities for those who have the required skills and the skills of the future.

In today’s dynamic, evolving business and regulatory environment, business analysis is a blanket term used for activities performed to identify business problems and appropriate solutions.

Business analysts are some of the most highly paid professionals today.

What does a business analyst do?

Organisations harvest big data nowadays to reveal business patterns and to gain meaningful insights.

A business analyst, by understanding and analysing business problems and delivering solutions, brings about growth, market value and stability in an organisation.

Business analysts evaluate processes, conclude requirements, envision and report on data-driven solutions, and supply required information to executives and stakeholders.

They endeavour to enhance the service and product quality in conjunction with the technology team, including integrating and testing new solutions.

Responsibilities usually attributed to a Business Analyst

Business analysis involves a diverse set of roles and responsibilities. To gauge whether the career path is a copacetic choice, it is prudent to acquire an understanding of the duties to be carried out. Here are some of the primary responsibilities and duties of a business analyst:

  1. Championing an organisation’s business objectives. Detection of related problems and envisioning solutions with an improved outcome.
  2. To compile and comprehend the business needs of clients and stakeholders.
  3. To collaboratively design solutions for problems with the development team.
  4. To give business technology feedback and implement new enablers.
  5. To constantly gauge the functional and non-functional needs of the business.
  6. To meet stakeholders and clients regularly to discuss progress on business issues and solutions. To ensure needs-aligned solutions are implemented.
  7. To validate project statuses with user acceptance testing.
  8. To convey all the project findings through accurate documentation and data visualisations.
Does this make your heart beat faster? Then let us show you how to become a business analyst.

How to become a business analyst

Having the right combination of rich technical and non-technical skills will make you a successful business analyst. Here are the top skills required:

Degree and Domain Knowledge

A degree is not vital, but a qualification such as an MSc in Business Intelligence and Analytics is recommended. This postgraduate award significantly increases your employability. Sound domain knowledge with relevant experience would be highly desirable.

Analytical Skills

Deep analytical skills, with logical and critical thinking, are essential. This affects business needs interpretation and choosing the best solution.

Microsoft Excel

There will be a great need for graphs and dynamic reports on business problems. The following also have a popular following in the marketplace: Google, Chartio, SAP Lumira, VIsme, Toucan Toco, Google Data Studio, Klipfolio, Databox and Grow.com.

Negotiation Skills

Excellent negotiation skills will set you apart from the average analyst.

SQL – SQL and relational database knowledge

SQL – SQL and relational database knowledge are highly advantageous for accessing, retrieving, manipulating, and analysing data. Suggestions are Microsoft SQL Server, MySQL database, Oracle DB, and SQLite.

Programming

Knowledge of programming languages (R and Python) is a prerequisite for solving complex problems and faster data analysis.

Data Visualisation

Data visualisation tools will play a big role as they create reports, dashboards and forecast data. Suggestions are Tableau, Canva, QlikView, and PowerBI.

Communication Skills

Communication and presentation skills will make you successful as you will get your message across, and it will be understood correctly. This includes the need for superb writing skills.

What steps must a fresher take to become a business analyst?

  1. Have a related, completed degree.
  2. Learn SQL and other relational databases.
  3. Develop good hands-on experience with programming languages.
  4. Develop quality written and verbal communication as well as experience with presentations.
  5. Become accomplished at creating interactive reports using various business intelligence tools.
  6. Undertake a certification by the International Institute of Business Analysis (IIBA) such as Certified Business Analysis Professional (CBAP).
Next on your list of interests is, no doubt, salary.

Salary structure

Reports, by Glassdoor, a USA based business analyst, has a market average earning of approximately GBP50 000 dollars per annum.

In India, the annual salary of 7 lac rupees (700,000 rupees) equals GBP6,700.

Within the United Kingdom, a business analyst can earn an average annual salary of GBP40,000.

In Australia, market surveys show that business analysts can earn an average annual salary of AUD90,000.

If you are still excited about the career opportunity, then it is good to note the popular companies hiring for a business analyst position. These would be, as of 2021, CISCO, Capital One, American Express, WhatsApp, Google, Ernst & Young Global Limited, Amazon, and Dell, to name a few.

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