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Business Analyst Do
It’s a competitive market out there, and businesses that want to succeed need to take
advantage of every tool and resource within their reach. Smart decisions help
businesses thrive, and reliable information is the key to intelligent decisions.
Enter business analysis. You are about to get a primer on business analysts—learning
what they are, why they are needed, what they do, and how to become one. If you’re
running a business, you may realize why you need one in your organization, while those
of you who are looking for a good career may have just found one!
Let’s take our first steps into a business analyst’s world by first understanding what is
business analysis.
● Business Architect
● Business Intelligence Analyst
● Business Systems Analyst
● Data Scientist
● Enterprise Analyst
● Management Consultant
● Process Analyst
● Product Manager
● Product Owner
● Requirements Engineer
● Systems Analyst
Bear in mind that some organizations also use the term “IT Business Analyst.” Although
there seems to be no clear consensus regarding the differences between the two
positions (and, in fact, many organizations use them interchangeably), some circles
note that the IT Business Analyst works more with software methodologies.
Once the business analysis definition is locked down, the more curiosity-driven reader
may follow up by asking, “In that case, what is business impact analysis?” Business
impact analysis is a practice that’s of particular relevance in these days of
pandemic-induced business shutdowns. Business impact analysis, or BIA, aims to
predict and identify the financial and operational impacts of business disruption. You
can be sure that before many businesses closed temporarily due to the coronavirus,
they launched business impact analysis studies.
Now that we have gone through to understand what is business analysis, let us next
look at the difference between business analysis and business analytics.
We should take a moment and clarify the distinction between these two concepts.
Business analysis is more concerned with functions and processes, while business
analytics covers data and reporting. Still, many organizations use the terms
interchangeably.
As we have learned what a business analyst is, let us understand business analysis
uses.
Business analysts are the ideal professionals to shepherd any organization through the
tricky terrain of change. Once they navigate through those changes, businesses emerge
more robust, more competitive, and better equipped to handle the ever-evolving world of
digital-based business.
After having understood what is a business analyst, let us next look at the business
analysis process.
These are the widely accepted steps in the business analysis process. Each company’s
needs and situations are different, however, so there may be some variance.
1. Get oriented Make sure to clarify the business analyst’s role, determine the
stakeholders’ perspective, and get familiar with the project’s history.
2. Name the primary business objectives. Identify the primary stakeholders’
expectations, reconcile conflicting expectations, and make sure the objectives
are clear and actionable.
3. Define the project’s scope. You need a clear and complete statement of the
project’s scope—a rough roadmap of all the steps the project participants
must follow.
4. Create a business analysis plan. List timelines, steps, and deliverables.
5. Define requirements. You need concise, clear, and actionable requirements,
based on analyzing the information gathered so far.
6. Support the technical implementation. Since many solutions require using
software, the business analyst needs to work closely with IT teams.
7. Help implement the solution. This step involves creating clear documentation
and training end-users.
8. Assess value. Did the project work? How much progress did the organization
make? Are there any needed follow-ups?
While looking into the various aspects of business analysis, we have learned what is
business analysis so let us next learn its various techniques.
We have understood so much about business analysis, beginning from what is business
analysis, the process, uses, and more. Let us next look at the benefits.
How Does a Company Benefit from Business Analysis?
Business analysts bring a disciplined approach to creating and managing change within
an organization. They identify vulnerabilities, define needs based on feedback and
stakeholder communication, organize and implement solutions, and monitor the results.
The certification process yields advantages to the professional and organization alike.
For the individual, certification imparts skills and training that any good business
analyst needs to succeed. Business analysis is not a career where you can mostly learn
as you go! Entering a new position with a complete and robust skillset is the only way
you will succeed.
Certification also grants you a tangible milestone, an easily measured achievement that
tells prospective employers, “I know what I’m doing.” When you sit down for that
interview, your certification is a verification of your qualifications. Certification helps you
open the door to a better, more lucrative career in business analytics.
For the organization, certification assures the business that they have the right choice
for the position. The interview process can be tricky, fraught with uncertainty. It’s also
time-consuming and costly, so the organization should strive to make the right choice
the first time by ensuring a mutually beneficial fit. Certification assures the candidate’s
competency in the subject matter.
We have learned what is business analysis, next, let us look at the skills and
qualifications of a business analyst.
When we talk about what is business analysis and what makes a good business analyst,
we must focus on the relevant necessary skills. Business analysts required a range of
soft and hard skills, including experience in either IT or business-related backgrounds.
For the IT side, that means knowing how to pull, analyze, and report on data trends, as
well as sharing that information in a clear way. For the business side, you need to have
at least a basic understanding of how systems, tools, and products work.
According to the Institute of Business Analysis, a good analyst needs the following
skills and knowledge:
Business analysts are in high demand and fetch excellent compensation. Salary.com
reports an annual average of USD 75,400. If this sounds like a smart career move to you,
then check out Simplilearn’s new Post Graduate Program in Business Analysis in
partnership with Purdue University.
The program is designed to hone your expertise in the latest business analytics tools
and techniques, including planning and monitoring, data analysis and statistics,
visualizations, Agile Scrum methodologies, and SQL databases.