Do you want to step into one of the fastest growing careers of today i.e.business analysis? Do you want to get the insights about acareer as a business analyst? Do you wonder where to start and how can you move ahead in your career?
Business analysts work for organizations like businesses, nonprofit organizations and government agencies. A Business analyst (BA) is someone who helps the organizations in understanding their business problems and needs and then undertake proper documentation of those business requirements to implement.They also remodel business processes and operating proceduresto improve performance of an organization.
Market size of Business analysis
American employers will need 876,000 business analysis related professionals by 2020.Canadian employers needed approx. 170,000 business analysis related professionals in 2016.(Source: Information and Communications Technology Council, 2011).According to a U.S. Bureau of Labor Statistics (BLS) report, BAs will be among the fastest growing IT occupations, while Google, Infosys, Wipro and their like are constantly on the lookout for business analysis graduates with the acumen to undertake critical business projects.(Source: U.S. Bureau of Labor Statistics, Employment Projections Program)
Educational requirements for a business analyst vary depending on employer, specific role and specific sector. Most entry-level business analyst positions require at least a bachelor’s degree.
Bachelor’s degree programs in finance, accounting or business administration should be taken into consideration if you are thinking to move ahead in a career as a business analyst. Some of the courses include those in investment management, taxation or basic cost accounting. Additionally, some programs require basics of mathematics and statistics courses too.
Depending on your educational background you can choose your career path in business analysis.
If you have a technical background, consider BA roles in IT industry where you act as a liaison between the client and the development team. Here your job role is a blend of IT duties and system analysis.
If you have a business background from a specific functional area such as customer service, human resources, or finance you should get into the BA profile in strategies, operations and business applications
If you have experience or specialization in a specific industry like healthcare, travel consider business analyst roles in that industry.
Certifications might help you in getting a good job in different industries as a business analyst. Many employers prefer to hire candidates with IIBA™CBAP™ certification.CBAP™ certification is industry-recognized recognition for developing skills required for business analyst jobs.
The main trait of any successful business is the analytical skills and out of the box thinking. Another key trait is the ability to be excellent communicator, detail oriented and some who can conduct quality research. Some other skills that will be useful in becoming a business analyst are Conducting cost/benefit analysis, Excellent presentation skills & influential leadership.
Job roles are industry specific for different Business analysts. However here are some of the important tasks and responsibilities of a Business analyst. some of the job roles:
• To assist in making business case
• Establishingthe scope of business and IT systems
• To find out problem areas in any organization at all the levels and provide solutions
• Conduct statistical analyses and surveys
• Eliciting requirements
• Recommend changes to processes, personnel or product offerings to make internal departments more efficient
• Invent new systems
• Design or review of test cases, process change requests
According to Payscale.com, the salary of a Business Analyst in the USA is from $48,215 to $95,291 and a Senior Business Analyst’s salary in the USA is from $60,859 to $110,680. In India, with a business analysis qualification earned abroad and experienced earned during your study tenure, you can start with a salary of about Rs. 420,000 and reach 1,500,000 or even more over the years, as you nurture your career.
So if you are willing to be a part of a business analysis team in a renowned organization put yourself in an informal leadership role, get an internship to do a project for the group that will develop the Business Analysis skills. A certification in business analysis is highly valued. The business analysis certification by Millionlights can be a stepping stone to your business analysis career. Do not forget to read the forthcoming blog on industries where Business Analysts work and what exactly is their job role.
Enroll in a free online course on Business Analysis by Michael Boyle on Millionlights : https://goo.gl/FGme9D