As a child, no one dreams to be a Business Analyst (BA). However, you might have thought of owning a business or becoming a CEO of a multinational corporation. Being a business analyst may be the first logical step in turning your dreams into reality unless you have some sort of magic lamp. The career prospects of a business analyst vary over time but it starts with very simple problem-solving skills and is very generic in nature.
What Business Analysts do?
A business analyst is someone who deep-dives, researches and develops any problem-specific solution for any organisation. In most of the cases, these solutions are technology-based like architecture, tools or software application, model, process or method. However, the domain of BA is not limited just to technology. At times, the profile of BA seems like that of a project manager or consultant. Business analysts are generally experts on a specific system or domain. They also play a big role in marketing and finance.
The Minimum Requirement to be a Business Analyst
As mentioned earlier, the task is mainly for those with expertise in any specific sector. A number of BAs are tech graduates who had worked as a programmer or engineer, or having a degree in Computer Science. Besides, many move from other roles to BA as a subject matter expert with analytical skills.
Why do you want to be a Business Analyst?
- Flexible profile: The roles of a business analyst can vary from one company to another. Some BAs work on the technical side of the projects while others are strictly handling the business part. Few of them work to streamline workflow, defining and adjusting processes, whereas others are finding technological solutions to problems. There is a vast range of possibilities for someone to grow and nurture especially if he/she is looking for starting his/her own business in the future.
- No boring days: According to research by Korn Ferry Institute, the top reason for job change is monotonous nature of employee’s profile. The survey states that 33% of people change their job because they are bored with the kind of work they are getting and need a new challenge. However, most of the projects for business analysts are of short to medium term i.e. you will have a new challenge to tackle on a regular basis.
- Enormous demand: Business Analysis is comparatively new profile and as the companies across the world have realised the potentials of it, new openings are available in abundance. In such a competitive job market, this profile is expected to grow at 19% over the next 10 years. There won’t be a better time to go for this profile looking at the future prospects of it. Read: Career options in Business Analysis.
- Whopping salary and perks: The average salary of a business analyst in India is Rs. 6.75 lakh per annum. Moreover, the top 10% earn more than Rs. 15 lakh per annum. On top of that, BAs get huge compensation for their work. And, looking at the growing demands, the salary should continue to rise. Read more about Business Analyst Salary in India.
- Autonomous working: As a business analyst, one needs to work in coordination with a number of departments which involve engaging with different levels of management. This adds a lot of flexibility in the working process and entrusts them to accomplish their tasks independently. This autonomy gives BAs enough space to explore creative ideas to meet customers’ expectations.
- Utilizing life lessons and past experience: A lot of jobs in today’s machine era require minimum use of previous ideas or life learning. However, successful business analysts need to have a vast range of knowledge and real-world understanding experience gained from study and life experiences. Each new project requires a different set of skills and design flow to solve that specific problem lying ahead. And, that can only be achieved by inculcating real-world solutions to these.
- Grow as an individual and as a team: Although the profile gives a lot of freedom and autonomy, business analysts work on projects involving a lot of different departments. As a business analyst, you are not only solving a problem but also catering to a common goal to enrich yourself and your team.
Where to Start?
There are a number of institutes offering certification and full-time courses if you want to pursue a business analyst as a career choice. You can also opt for online courses in this profile.
Notably, degrees can help you in opening a window of opportunity in this field but there is much more than an employer expects from someone before hiring him/her as BA. Courses offered at upGrad will allow for enhancement of technical skills and add strong value to your current profile as well. As in, the more you are technically strong and sound, the better candidate you are in this profile. Additionally, the understanding of coding, data structure and project management will give a competitive edge to you in this area.
What a Business Analyst Actually does?
As mentioned earlier, the profile demands a lot of understanding of the workflow of any project starting from pre-project preparations to final acknowledgement and follow-up later on. Once you take on a project, you are on a journey of mutual understanding. Although you are working on the project, it also teaches you a lot. It is a kind of mix and match solutions to a specific problem and generate solutions if there is not one of a kind you are looking for. Few roles that you need to take on while working as a business analyst are:
- Strategists: Any organisation needs strategist who is visionary enough to look out for a potential caricature of how a project will look like after completion. Business is an ever-evolving process for any organisation and they need someone to take on the responsibility that comes with the changing nature. BAs are bound to suggest the solutions that are the best fit for the firm and also maintaining a quality standard.
- Architects: As the nature of business is ever-evolving, the organisations need solutions to take on the demands of it in the near future. As an architect, a business analyst finds solutions by analysing and observing the objectives of a project, processes and resources to utilize and suggesting ways to tackle those problems through developing new design case.
- Systems Analysts: In many of the technological projects, IT Development is required to work in connection with the system running. For system analysis, the main task is to infuse tech-based solutions in business-based problems.
The career of a business analyst is a roller coaster ride where you will face new challenges on a regular basis, have to tackle problems that are unheard of and need to find solutions that are unique to any specific case. It gives you financial stability, adequate opportunity to grow as a professional, and on top of all this, it is a personally rewarding profile. If you are someone looking for qualities like these in your profession, a business analyst is a good career for you to choose.
To conclude, MBA in Business Analytics is an up and coming area of expertise that is gaining increasing traction in all sectors of the industry. The specialization shows a positive and promising outlook, and for those of you who have long been sceptical about choosing this career path, you can go ahead and start your MBA journey in Business Analytics!