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You’ve probably heard of the famous book, Business Analysis for Dummies. It breaks down the concept of business analysis for the average reader.
But even that book can be broken down into easier concepts.
We’re going to explain the need for business analysis, the role of a business analyst, and certifications when becoming a business analyst in less than a 1000 words.
What’s the point of business analysis?
Corporations need changes. The changes are usually related to financial responsibility, role fulfillment amongst team members, and recommended solutions to deliver value to company stakeholders.
These changes are introduced through business analysis. It’s the practice of enabling and fulfilling the above changes in organizations.
The people who facilitate these changes are business analysts.
What is a business analyst?
Business analysts enable positive changes for organizations, often impacting financial prospects. Financial prospects include reducing expenses and increasing funds for corporations.
A business analyst’s role is to communicate with stakeholders. The analyst will make recommendations based on analysis of business processes, management, systems, and corporate policies.
With the information assembled, a business analyst creates methods to direct a business into a more efficient, active, and profitable system — a benefit for stakeholders, CEOs, and employees.
What must a business analyst understand to do a correct analysis?
Business analysts must understand a company inside and out. Not only what a business does, but how they do it. The analyst examines current business processes, technology, automation, and more to enhance them later.
With this knowledge, they create a plan to improve the existing business processes. By looking into gaps, underlying issues, and hiccups experienced by employees and their customers. Then they must implement changes and monitor the effects of those changes.
How can I become a business analyst?
First, you should decide what kind of business analyst you want to be. “Business analyst” is a broad term. But you can develop a specialty.
For example, a “Business Process analyst” focuses on business processes and creates a plan to enhance current systems. But an “IT Business Analyst” focuses on information technology and processes for tech-related companies.
If numbers, analytics, and data are your thing, you can become a “Data Analyst”. While there’s nothing wrong with being a “Business Analyst”, choosing a specific field or industry may help you land higher paying positions.
Other types of analysts to consider:
- Functional Architect
- Business System Analyst
- UX Analyst
- System Analyst
How do I need to become a business analyst?
Business analysts become certified through International Institute of Business Analysis (IIBA) and CBAP (Certified Business Analysis Professional). You take an online exam that is multiple choice questions. Once passed, you’ll become a certified business analyst.
The average salary is $80,000 – $130,000 a year — even when just starting out.
Which skills help me with business analysis?
Truthfully, if you’re going to become a business analyst for a firm, several skills are necessary.
Such as analytic skills. They’re used to process, understand and use data to a company’s advantage.
Alongside analytics, you must be able to plan. Business analysis requires analyzing data and planning how to use the information to benefit stakeholders. Meaning the analyst must plan projects, understand budgeting, identify critical resources, etc.
You should also be able to lead team members, communicate clearly, and be the “go-to” person for employees and managers. And it doesn’t hurt to have IT experience, especially if you’re looking to become a data analyst or IT analyst.
Business analysis helps companies identify issues in business processes, then identifies steps to reduce negative impact. It requires analytic skills to utilize data, the ability to lead team members, and specific certifications to become a business analyst.
It’s plenty of work, but entry-level business analysts have excellent salaries, reflecting their hard work when creating efficient processes that build upon company financial gain.
Image: Natee K Jindakum/Shutterstock.com