Business Analyst Job Guide: What to Know and Do

A business analyst helps a business with processing their products and service for more profitable decisions. Therefore, a business analyst job remains a vital part of a successful business management team.

The International Institute of Business Analysis (IIBA) defined a business analyst as a disciplined approach for introducing and managing change.

Besides, these changes affect all kinds of organizations, including governmental and non-governmental alike.

There is often a gap between the business manager and the end-user of a product or service.

Therefore, a business analyst’s role is to collect and analyze the user or customer data to help a business.

Sometimes, a company may require a business analyst to test a process, product, or user response.

Consequently, business analysts must be tech-savvy with a tremendous analytical way of thinking with organizational skills to achieve the goal.

Furthermore, this article will describe in detail what business analyst jobs are and how to secure one. Besides, it will also give suggestions on the necessary skills for a job as a business analyst.

Business Analyst Job Description

According to the US Bureau of Labor Statistics, the US will provide about 867,000 business analyst jobs in 2020.

As the opportunities abound in diverse countries, the primary purpose of analyzing, evaluate, and process data remains the same.

Besides, the IIBA competency model gives 53 specific competencies of a business analyst.

These areas of competencies may include documentation of essential data and accurate analysis tools.

Simply put, business analyst jobs require conducting research and analyzing results to solve business problems.

For instance, the analyst may profess practices and processes to profit or achieve their set goals.

Some tasks may require business analysts to work closely with the IT and Finance teams to develop workable strategies. Besides, developed systems can influence business procedures, including cost optimization through professionalism.

Also, the results must be applicable to bring measurable results. Although recent business analyst jobs require IT skills, it is not compulsory to be an expert.

However, general background knowledge of computer analytical applications and system tools.

Business Analyst Job Responsibilities

The company’s goal or the project determines the specifically assigned duties to the business analyst.

Besides, a business analyst job also places a responsibility on an employee to understand vital regulatory and reporting requirements.

Some of the identified responsibilities within the scope of the business analyst job include

1. Structural analysis within the framework of technology to achieve business goals. For instance, the analyst will engage in budgeting, financing, and forecasting business activities.
2. Identification of specific business problems through data modeling techniques
3. Report the analysis and result findings to senior management stakeholders for a clearer perspective of the business goals
4. Propose and formulate business improvement methods concerning previous research
5. Carry out unique analysis such as variance and market variability and pricing
6. Convince the decision-makers and stakeholders on the advantages of implementing the new strategy and technology
7. Following the approval, the next task is to monitor the implementation of the new systems.
8. Educate other role-players through seminars, workshop, and training sessions

Business Analyst Job Skills and Requirements

Business analyst job offers often require a minimum of a bachelor’s degree in relevant courses.

In comparison, the more experienced business analysts may work as full-time employees, freelance, or in a consultancy capacity.

Furthermore, Business analyst job skills include both hard and soft skills.

Besides, it is not enough to collect and process data. The expert should also be able to communicate results.

Some of the required skills in business analyst job posts include the following;

1. Analytical skills with a proven qualification
2. Meticulous thinking with careful observation of the minutest details
3. High level of accuracy with work output
4. Commercial awareness about what holds in the market in terms of market behavior and trends
5. Adequate knowledge of business structure and pattern
6. Cost-benefit analysis (CBA) skills
7. Previous experience with top decision-makers and stakeholders
8. Statistical skills through software or programming packages
9. Requirements engineering
10. Time management skills
11. Leadership and management skills
12. Organizational skills
13. Problem-solving ability
14. Stakeholder analysis
15. Oral and written communication and human resource (interpersonal) skills
16. Consultative skills that can readily provide quick and effective solutions
17. Facilitative and intuitive skills
18. Computer and IT skills
19. Project management skills and techniques
20. Process modeling for production companies
21. Advanced comprehension of networks, databases, and other technology tools

Entry-level Business Analyst Job

The minimum requirement to be a qualified business analyst and secure a job is a bachelor’s degree in management-related courses.

More so, potential employers may require a degree in business administration, economics, finance, computing, applied social sciences, and number-related studies.

The business-related degree does not also have to be formal from a full-time university program. That is, interested candidates may study short business analysis certificate programs.

Also, IIBA and the BCS Chartered Institute for IT offer professional qualifications towards business analyst job qualifications.

Interested applicants may also apply for advanced qualifications such as the International Diploma in Business Analysis from the BCS.

Apart from the IIBA and the BCS, other organizations also offer special certification for business analyst job seekers. As a result, some of the available courses from IIBA include the following;

1. Entry Certificate in Business Analysis (ECBA) from IIBA
2. IIBA Certified Business Analyst Professional Certificate (CBAP) from IIBA
3. Certifications for Competency in Business Analysis (CCBA) from IIBA
4. Agile Analysis Certification (AAC) from IIBA

The other organizations also offer the following certifications such as;

1. Professional in Business Analysis (PBA) by the PMI
2. Certified Foundation Level Business Analyst (CFLBA) by the IQBBA
3. Certified Professional for Requirements Engineering (CPRE) by the International Requirements Engineering Board (IREB)

Business Analyst Job Employers

Business analyst jobs are available in the following sectors and companies;

1. Project management firms
2. Consulting and professional service companies
3. Production companies
4. Specialist business analysis companies
5. Research institutes and companies
6. Technology firms
7. Governmental organizations into policy formulations and implementation
8. Large corporations such as economic firms, banks, utility firms, including communication and multinational retail firms

How much do Business Analysts earn?

Several factors determine the offered salary to business analysts during job interviews. Firstly, the question of the project difficulty can affect how much the employee earns.

Other factors include the size of the employer and the particular sector of work.

Ultimately, a business analyst in an active job can earn up to $95,000, according to investment banks. Besides, the starting salary for an entry-level business analyst is between $20,000 and $30,000.

Furthermore, experienced business analysts can earn between $35,000 and $70,000.

However, as a business analyst with IT skills, your annual salary will reach up to $51,500 per annum. According to Payscale, an average business analyst earns 28% more than the average wage in San Francisco.

However, these figures vary in other states across the US.

Below are some of the related job postings to the business analyst job with their respective salaries.

Source: CIO

Business Analyst Job Tools and Software

The modern business analyst requires some computer software and other tools to fulfill their job obligations.

Given this, some of the prominent software include Microsoft Excel, Access, PowerPoint, SQL, Google Analytics, and Tableau.

With these tools, a Business analyst can collect, sort, and analyze data and prepare data results as reports.

Moreover, in presenting products, he can use graphics that explain the products’ interactions.

A new entry business analyst may not know everything about programming but possessing those skills can be an advantage.

The other precisely needed software and tools will depend on the business analyst job position and organization.

Since every company, in one way or the other, need data, an analyst is therefore indispensable. However, not all companies are capable of engaging a full-time business analyst. The job can be on a part-time basis.

Alternatively, some organizations may create related positions to the Business analyst job to assist them.

For instance, a product manager may work hand-in-hand with the BA’s team to achieve a common goal.

5 Easy Steps to get a Business Analyst Job without Experience

No offense. Many people who got a business analyst job practically ‘fell’ into it. A lot of them gained experience with the job before earning any related degree or certification. The question is, why can’t you also?

If you any business analyst professionals around, they might as well tell you they just tried their hands on it. Then it worked, and from one project to another, they kept going.

Besides, there can never be two first-time – one job becomes an experience for the next.

Besides, there are several career paths to becoming a professional business analyst, starting with no experience.

However, it is wrong to assume that someone will hand you a business analyst job while working around.

Here is a better response to how the journey started from ‘no experience’ to professional business analysts.

1. Analyze a Business Process

Perhaps the easiest step to take is to pick and analyze any business process of interest to you. Although no one is asking you for it, do it anyway.

Start by asking questions from both sides of the table – the end-user and the project manager or business manager.

What is this product or service doing, and how can it perform better? Or what options are there for this product or service?

What are the profits from this method that the company ABC took? How long did it take for so and so process to bring the needed results?

If users don’t pick this product or service, who is losing?

2. Try out software analysis of sample cases

The next thing to do is to create a dummy case in analysis software. Tweak stuff around a bit on some ‘what if’ situations and record the outcome.

These are some of the essential goals of becoming a business analyst job professional.

You may also think of some real-life situations to input into your research analysis or sample people’s opinions. However, ensure you clarify what you are doing and understand the conditions of each scenario.

3. Practice communication

If anyone asks you about how something works, how will you communicate it to them to understand? Learn to take notes in a meeting, which is not too different from taking notes in college.

Practice the ability to ask relevant questions, too, even if to clarify something you heard. Besides, let other people also answer your questions if need be—that maybe a sort of opinion sampling.

4. Start with your Business Analyst Job Opportunity

Even if the first opportunity that appears to you is an internship or training, take it. By so doing, you have a real-life opportunity to put all you’ve been learning to fair use.

Besides, not all great opportunities appear great at the start. Some changes only seem ordinary. Note that you may have to start with some heavy steps; they are familiar.

Volunteer for related duties at any place you find yourself and do everything diligently.

5. Be consistent and dependable

Everybody needs to find a dependable business partner who also knows his onions. Furthermore, as you continue to build relevance on your business analyst job, remain consistent.

Don’t ever let an opportunity to impress pass by without doing the right thing. Moreover, as you engage your job, also look out for other business analyst job postings around.

On a final note

From one opportunity to the next, you continue to build better performances progressively. One right turn, they say, deserves another. Keep a useful tab on all your duties, and you will soon get better opportunities.

I’ll love to hear how your story pans out. Kindly leave a comment below!