What is Business Analysis?
Change is mandatory in this competitive world, as adapting to new technology to survive or stand out from your competition is essential. Thus, every business has to identify the changes and the factors they need to keep up with to have their hold in the market. That is the task that falls under business analysis.
Business analysis is a practice to determine changing business needs and apt solutions. It is an elaborate process that includes system development, improvement, management, and strategic planning practices. A business analyst does all these tasks using various methodologies and helps organizational growth. Thus, in simple words, the business analyst's role is to identify and articulate the need for change in an organization. Factors like current operations, budget, resources, and future goals get considered under this, and an analyst designs a report, which is unique for every organization.
It is a significant task as the business growth and the company reputation depend on the analysis part a lot. Hence, it is also an excellent career option with high-paying and promising job opportunities. If you are also planning to begin a career in this domain, ensure that you have comprehensive knowledge of the business analyst roles and responsibilities. Moreover, you can also go for a course providing Entry Certification in Business Analysis that can help prove your worth and fetch a great job.
Who Is a Business Analyst?
A business analyst is a professional who determines the changes that an organization needs for growth. IIBA (International Institute for Business Analysis) typically calls these experts agents for change, who use data and statistics to boost organizational efficiency. They recommend technical advancements, policy upgrades, resource planning, and other things with a sole focus on revenue increase.
These experts find their role in every industry, irrespective of the domain. They analyze the key factors and curate a plan to change things that can bring a hike in the sales, revenue, efficiency, and reputation of an organization. Some of the things which come under the business analyst's responsibilities are:
- They help companies make better decisions and improve their overall efficiency.
- Only skilled professionals in this domain understand the use of SWOT analysis, mind mapping, and more that eventually help increase efficiency levels.
- They understand both the technical and management side of the business. So these experts can conveniently provide the best solutions.
- These professionals have an in-depth understanding of research methodologies and use reliable data sets to find better solutions.
Basically, these professionals do all the analysis work and check every aspect of the business to prepare plans for overall growth. So let us dig deeper to discuss the business analyst duties in detail to give you a clear picture of whether you want to start your career in this domain.
Roles of Business Analyst
The business analysis goes through phases, and there are four levels that the analysts follow to get the best results. These levels are:
- Strategy Management: At this level, the business analyst plans and determines the strategies to analyze the business elements. It is the most significant factor as these strategies decide whether the final results are apt.
- Business Model Analysis: In this phase, the professionals analyze the existing business model, checking where the system is lacking.
- Process Designing: At this level, the analysts design the processes they need to introduce into the system to make necessary improvements.
- Technology Analysis: At this level, the business analyst responsibilities go through the technical analysis to ensure the feasibility of the change. It is another crucial aspect that you should thoroughly check.
The BA roles and responsibilities are all about doing the tasks required to complete these levels. Some of the roles of these experts are listed below. Refer to the business analyst role description to get better clarity and plan your career accordingly.
The first BA role in agile practices is to sort the requirements. It would need a detailed analysis of the existing business model and the operations. Moreover, the expert should compare it with the market advancements to identify areas with scope for improvement.
Another role of the business analyst working on a particular project is to meet the stakeholders and the development teams. First, they need to convey the ideas to the stakeholders, and once they get the nod, the next step is to transfer the changes to the development teams. All these tasks should be completed in a seamless manner to yield positive results.
Once the business analyst discusses the plans with the concerned teams, the task is determining the feasibilities. The developers and other concerned teams will discuss the feasibility, and if the need persists, the experts may have to change the plan.
After the plan is ready to be implemented, the next thing is to present it to the staff and other people involved in the change. The team will gain familiarity with the changes and may need the training to adapt to them. It is again the role of a business analyst to present that plan and conduct essential pieces of training.
Successful implementation is another role that business analysts have to fulfill. They assign tasks to teams concerned about infrastructural changes or technical advancements. The entire implementation process happens under these experts, whose strategies are under question.
The work does not end with the implementation phase. The analysts also have to stay put during the testing phase, ensuring that everything happens according to the expectations. If there is a technical advancement involved, the software testing team will generate reports to confirm that the result of these changes is working in favor.
It is another role or responsibility that business analysts have to fulfill. They must identify the problem areas in a business process and find apt solutions. So, their analytics skill will help find the root cause behind the issue and the right way to solve them.
When the organizational processes and operations are on the right track and yielding the best results, the role left is to maintain that pace. The analysts will keep track of the tasks and operations to ensure no further changes are required. If they find bugs or defects in the system, they report it to the concerned team and get it fixed soon. Moreover, if there are any technological advancements that can provide more growth, they ensure that the organization adapts to them.
These are the fundamental roles of the experts working in the analysis domain. If you opt for the Business Management Certification. All these roles will be covered under the business analyst tasks.
Key Responsibilities of a Business Analyst
Now you know all the roles of a business analyst. Let us understand the responsibilities that come on their shoulders. It will tell you what a business analyst does, and if you resonate with them, you can plan your career in this domain.
- Get all the information about the current processes that the business follows. The idea behind the process analysis is to identify areas that need improvement.
- Dig in depth and research the market thoroughly to understand what other people in a similar domain are doing. It will help you see where you are behind.
- Get up-to-date information and data related to the organization to create research-based plans for company growth. The idea is to ensure the strategies that you prepare are well-researched and fact-based.
- Creating a presentation, providing details about the required improvements and how to execute them. Moreover, the business analyst would present it in front of the board, staff, and every person directly involved with the change.
- Organize staff training to ensure everyone is ready to adapt to the changes and incorporate them into the system smoothly.
- They convince the stakeholders to nod yes to the changes and work with the senior management and other professionals.
- Test the changes to ensure that strategies work fine and give the expected results.
These are the business analyst's key responsibilities that any expert in this domain should fulfill. To ensure that the experts stand tall on the expectations and yield positive results, one has to verify that the business analyst functions to the best of his ability. Hence, companies often hire experts who have done CCBA online courses or similar types, as it ensures the expertise level.
Business Analyst Skills
The primary reason behind hiring BA with a certified course in their portfolio is their skill level. These professionals require technical knowledge, domain understanding, and excellent interpersonal skills to efficiently play the role of a business analyst in a project. Some of the skills required for business analyst work are listed below.
- The primary skills required by a business analyst are excellent analytical skills. The professionals need the understanding to analyze essential factors and determine the areas that need change.
- These experts need to have a problem-solving approach, as they need to fix the defects and make necessary changes to help the organization move towards growth.
- The interpersonal skills of business analysts should be excellent as they need to collaborate with many professionals to bring about change.
- Understanding the business domain, management skills, and technical know-how is essential for every business analyst. They have to have knowledge of every aspect to support their decisions.
- Change is essential and mandatory, but budget is always a factor of consideration. Hence, business analysts should be able to do a proper cost-benefit analysis and make fair decisions.
- Understanding of tools and techniques that can help in business analysis and generate reports that can give the right direction towards growth.
These are the skills that a business analyst requires to handle the tasks well and come up with the best plans and strategies for company growth.
Enhance your knowledge with our unique business intelligence courses improving your skills. Don't miss out on this game-changing opportunity!
Business Analysis Vs Business Analytics
Business Analysis V/s Business Analytics. Though the two terms might sound similar, there are key differences between business analysis and business analytics. The table below mentions these differences in a nutshell.
|Business Analysis||Business Analytics|
|The primary focus is on techniques and functionalities.||The primary focus is on data and statistical analysis.|
|Used to solve the problems that exist in the business and bring positive change.||Used to predict the future and plan growth strategies.|
|The tasks under this domain are handled by business analysts.||The tasks under this domain get handled by the data analysts.|
|The areas covered under business analysis are business, enterprise, and process.||The areas that are covered under business analytics are business decisions, big data, and future strategy planning.|
After reading this article, you might have understood everything about the business analyst's roles and responsibilities. You must also have understood the skills that a person needs to work in this domain and the challenges they might face. If you find them attractive enough to build a career in this domain, you can either go for CBAP Certification Training or other online courses relevant to this field. These courses will prepare you with the necessary interpersonal and technical skills to help you fetch the best job opportunities. Once you start exploring the job market, you will find that the job description for business intelligence and other professionals also requires all these skills.
This domain offers excellent salaries and secure jobs, and if the job roles also suit your potential, you should definitely consider it. Kickstart your career by taking up a course online, and you can start working as an analyst.
You May also Like:
How to Become Business Analyst: Complete RoadMap
Top 10 Business Analyst Skills For 2023
In-Demand Business Analyst Career Paths in 2023
Business Analyst Salary for Freshers and Experienced in 2023
Top Underlying Competencies for Business Analysts in 2023
Essential Business Analyst Best Practices for Success
Business Analyst Jobs in the USA in 2023
7 Best Business Analyst Resume Templates for 2023
4 Benefits Of A CBAP(Business Analyst) Certification
Business Analyst Certifications Cost 2023 and tips to Reduce It
Frequently Asked Questions (FAQs)
1. What techniques do business analysts use?
A few of the most common business analysis tools that business analysts use are BPM, SWOT, MOST, six hats thinking, and more.
2. Is a business analyst an IT job?
It is not an IT job unless the analyst chooses to work in the technical domain. If the expert works in the IT Company, you can call it an IT job.
3. Is business analysis a good career?
A business analyst is a promising career option with secure jobs and excellent salaries.
4. Which tool is used by a business analyst?
Business analysts use the tools like IBM rational requisite pro, pencil, Microsoft office suite, and more.
5. What are the mistakes generally committed by business analysts?
Most business analysts commit the mistake of underestimating or overestimating the scope of a project. As a result, their analysis may go wrong, and thus the strategies they plan all prove unfruitful.