Understand What is Business Analyst – Skills Required, Course Details, Career Prospects & More

There’s no denying the fact that the indispensable role of a business analyst has evolved quite a bit since the late 1970’s. Back in the day and age, a business analyst was primarily responsible for converting the voluminous and analog, paper-based data into the easily accessible digital information. However, business analysts now prefer using an array of tools to wrangle big data and thus generate meaningful insights.

The role of a business analyst is therefore an exciting yet challenging one as it involves a meticulous understanding of how businesses function along with analysing the information and communicating the same to the stakeholders, thereby making recommendations to help improve the overall business performance. For this very reason, business analysts are considered to be an important linchpin in the corporate world, and those holding this pivotal position help bridge the gap between an enterprise’s business and its other essential teams.

This detailed blog would help you understand what is business analyst, the role of a business analyst and a lot more essential dimensions vis-à-vis their job profile. We have endeavoured to throw light over the career trajectory of a business analyst and have discussed at length about how one could chart his own path through this promising industry.

 

What is Business Analyst ?

A business analyst is a professional who is responsible for thoroughly analyzing a company’s operations and processes to identify the opportunities and hindrances that could in turn help leverage a company’s growth. Business analysts gather and analyse data, chalking out the business requirements and thereby developing documentation with robust processes, systems and strategies. These analysts closely work with various essential stakeholders and business users across an organisation to understand their distinct business needs and they thereafter use those actionable insights derived to develop appropriate solutions that would be best for the enterprise.

 

What is the Role of Business Analyst?

The role of a business analyst entails analysing a company’s business processes, structures and systems and to thereby identify the areas for improvement and recommend solutions for those. The primary goal of a business analyst is to help an organisation operate more effectively and efficiently and they do so by offering detailed insights along with solutions that drive both growth and profitability.

A business analyst does so by critically bridging the gap between an enterprise and its technology teams, ensuring that all the various business requirements are neatly translated into technical specifications and that the resulting solutions assiduously cater to those business needs. These analyst therefore plays a crucial role in helping an organisation optimise it’s operations in order to drive in growth.

They leverage their stakeholder management skills with astute data analysis to identify the distinct business needs and thereby develop solutions that bring about successful outcomes. Business analysts are therefore employed in various industries that range from healthcare, finance, technology, education, government, hospitality and retail, just to name a few. Furthermore, these skilled professionals also perform quality assurance activities on different projects and they ensure to maintain an ongoing relationship with key stakeholders throughout the entire project lifecycle.

 

What are the 5 Most Essential Business Analyst Skills?

 

1. Requirement Gathering Skills :

Requirement gathering is one of the most crucial business analyst skills. It entails detailed gathering, analysing, and documentation of different business requirements from stakeholders to better understand their needs and objectives. The process of requirement gathering includes identifying stakeholders, conducting interviews, creating compelling user stories and analysing and documenting varied user requirements. A business analyst must therefore have excellent communication, interpersonal, and analytical skills to better gather, analyse and document requirements.

 

2. Deft Data Analysis Skills :

Data analysis is an essential skill for a business analyst. It involves meticulous analysis and interpretation of data to help identify the various trends, patterns and insights that could help form better business decisions. The entire process of data analysis includes data collection, data cleaning, data analysis, visualisation and report writing. The ability to scrupulously analyse and interpret data is crucial for a business analyst as it helps them narrow down on opportunities for improvement and thereby take informed business decisions. Business analysts therefore must have hands-on knowledge of the various data analysis tools and techniques such as statistical analysis, predictive analytics and data mining, and they should also be able to lucidly present their findings in a clear and concise manner.

 

3. Business Process Modeling Skills :

This refers to the ability to develop easy-to-comprehend process flow diagrams and models that could chalk out the various business processes. The process of business process modelling includes identifying the process, gathering information, creating a flowchart, defining rules, analysing the process and making recommendations. Business process modelling is extremely essential to streamline the various processes of an organisation and to thereby improve it’s efficiency. Business analysts should therefore have strong analytical and problem-solving skills and they should also be proficient in developing process flow diagrams and models. Additionally, good communication skills is a must-have in order to explain the models adduced along with the recommendations to stakeholders.

 

4. Problem-Solving Skills :

The ability to recognize and solve various complex problems using analytical and critical thinking skills is an important skill for a business analyst to possess. This involves a detailed and structured approach to problem-solving that includes defining the problem, accumulating and analyzing information, generating alternatives, implementing solutions and evaluating the results. A business analyst must therefore be deft enough to break down complex problems into smaller parts and make use of the data to develop feasible solutions.

 

5. Project Management & Documentation Skills :

Project management is yet another important skill for a business analyst as business analyst usually work on projects that have multiple stakeholders and require coordination across various departments. A business analyst must therefore possess a detailed understanding of various project management principles and tools, and he must be capable of managing various projects effectively. Furthermore, in addition to this, the ability to document and communicate various business requirements along with the complex technical specifications and other project documentation is one of the most important business analyst skills. A well detailed and understandable documentation is critical for ensuring effective communication between a business analyst and the stakeholders. A business analyst must therefore be able to collaborate effectively with the other team members to ensure that all aspects of the project are accurately documented. Also, in addition to aforementioned requirements, a business analyst must also possess certain soft skills that are essential to their job role. These soft skills include the following:

 

(i) Communication Skills : Excellent verbal and written communication skills is a must-have for a business analyst.

(ii) Interpersonal Skills : The ability to work effectively and efficiently with different team members, clients and stakeholders.

(iii) Leadership Skills : The ability to successfully lead various project teams and also to influence stakeholders in order to achieve the project objectives.

(iv) Time Management : Time management is yet another critical skill that a business analyst must possess as he has to juggle various tasks and it is therefore important that he prioritises his tasks.

(v) Adaptability : A business analyst must have the ability to readily adapt to change as he has to work in a dynamic environment.

(vi) Creativity : Business analysts must be at their creative best and should come up with innovative solutions in order to optimise an enterprise’s growth.

(vii) Attention to Detail : A business analyst ought to pay close attention to details and ensure complete accuracy in all the project documentation and deliverables.

 

How to Become a Business Analyst?

Well the easiest way to become a business analyst is to pursue a degree in a similar field. Holding a Bachelor’s degree is the initial requirement to work as a business analyst. However, you could further hone your skill set by pursuing a master’s program. While you could also take up a full time job in the relevant vertical and build practical skills overtime, however, having a degree can demonstrate to potential employers that you possess the necessary knowledge and skill set to be a successful business analyst.

We at KR Mangalam offer a three year degree program in BBA (Business Intelligence & Analytics) with academic support of Samatrix. We endeavour to offer a holistic learning experience to all of our students who are meticulously polished by our expert faculty and they are made industry-ready as soon as they pass out from the University. Our curriculum is therefore designed in a manner that offers maximum ‘hands on’ training to students. We also have state of the art infrastructure with world-class teaching faculty and we ensure to leave no stone unturned in creating the finest leaders of the future who rule over the business world and other verticals, thereby bringing upon accolades for the institution.