In a difficult economic environment like the one we face today, nothing is more important to businesses than reducing waste and being more efficient. That is why many companies have taken it upon themselves to hire a business analyst.
As you may have guessed, the job of an analyst is to examine the business needs of his clients to find existing or potential problems and then provide practical solutions. A business analyst is also often known as a systems analyst or functional analyst and there are several promising careers available.
The simple truth is that no matter how well a company is run, there is always room for improvement. With a rapidly changing technological environment and computer improvements almost daily, greater efficiency can be achieved if you know where to look. And that’s where a business analyst comes in. It is their job to keep abreast of all the new techniques and products that can help companies improve their efficiency.
How does one become an analyst?
There is no set path that one can take to engage in a Business Analyst Jobs and Careers. Many times they have technical experience, either as programmers or in engineer jobs. Analysts who specialize in computers often have a Computer Science degree or experience with IT solutions. While others come from a business background and have hands-on experience with many of the problems they face.
The unique experience and career responsibilities of business analysts also qualify them to perform some of the tasks of project managers and consultants. In fact, when many analysts retire, they often offer their services as part-time, highly paid consultants.
But an analyst doesn’t just work on computer-related projects, their skills are also used on marketing and finance projects. While it is true that many analysts will stick to their own particular area of expertise, some analysts are very good at everything and they usually work on projects in different industries. The most popular job industries for analysts include: finance, insurance, banking, utilities, telecommunications, computer and software services.
Just as the path to becoming a business analyst is not set in stone, neither is the role or responsibility of the analyst. Yes, of course, in the end they were hired to increase efficiency. But they may also be asked to focus on just one department or division within the business. For example, an analyst might be asked to help improve sales planning, scaling, or even business strategy.
Why would someone want to become a business analyst?
For one thing, experience. As we mentioned, due to various business demands, it is not uncommon for an analyst to work on different types of projects and face different problems and challenges each time. This means that the analyst will quickly gain a wealth of experience that he can use in all future endeavors. If, for example, he wanted to become a consultant or start his own consulting firm, he would have the background to deal with almost any problem that came up.
Another good reason to get involved in a business analyst career is market demand. The truth is that business analytics is a relatively new and rapidly growing field. It’s still not enough to go around, which means a good analyst can always find a job. He can also become a project manager or consultant if he is having trouble finding work.
Chances are that a good business analyst will never want a job. And even as the field expands and more managers graduate from college, the reality is that businesses will always need experienced individuals to help them cut costs, take advantage of available resources, and improve the overall functioning of the business.
Unlike many other businesses who are content with enrolling new employees in training programs to help them learn the ins and outs, business analysts have job training. Their fees depend almost entirely on their experience and reputation in the field. They are also only as good as their last project.
That’s one reason why business analytics isn’t for everyone. It is a very stressful job that requires an individual to be in charge and communicate with people from various disciplines. And in the end, if the client is not satisfied with the result, the fault lies with the chief analyst. This can not only damage his reputation but also his salary for all future projects.
However, if you area responsible individual who does well in high pressure situations and can complete projects under tough deadlines, then a business analysis job may be for you.