What Is a Business Analyst and How To Become One

Data-driven decision-making is a key aspect of business development and growth, and business analysts are essential in identifying problems and potential improvements that benefit companies and clients, based on data insights. But their role goes beyond that. Do you want to know specifically what this profile does and how to become a business analyst? Keep reading!

According to a study from the International Institute of Business Analysis, the demand for these professional profiles will increase by around 14% by 2025. Technological evolution brings with it an increase in the complexity of data in organizations, and business analysts are the best allies to unravel all the information that allows a business to grow and develop optimized management strategies. Programs like the Online Master’s Degree in Project Management guarantee the acquisition of technical knowledge and the development of soft skills necessary to successfully perform the role of a business analyst.

What Does a Business Analyst Do?

A business analyst filters and analyzes relevant business information to establish an understanding of the company’s situation and make recommendations that can improve their results. An essential part of their job is to identify the problems that may be hindering or slowing down the organization’s development to implement corrective measures. Their analysis covers all parts of a company.

Business Analysts’ Duties

Various tasks are part of the day-to-day work of business analysts. Let’s see what the main ones are:

• Identify team needs. This task requires having information about the functioning of the entire company, so it is important to maintain smooth communication with all departments and understand their problems and needs.
• Process analysis. Once the information is gathered, it’s time to collect all relevant data, filter it, and conduct an in-depth analysis to draw conclusions.
• Establish priorities and measures for improvement. Considering the organization’s overall needs and objectives, it’s time to determine the aspects that can be improved and the process to follow in order to do so.
• Communication of conclusions. Mastering data visualization tools plays a very important role here. The large amount of data handled requires company data teams to be able to create simple-to-understand graphs and tables to effectively and quickly communicate all the information and recommendations.
• Continuous follow-up. Once the planned solutions are implemented (with the company’s consent)continuous follow-up is essential, identifying possible problems and new needs.

How Much Does a Business Analyst Make?

Data analyst profiles are highly valued by companies for their potential to improve processes and results. Therefore, their salary is usually above average. There are significant differences, of course, depending on the country, sector, and the experience of the profile being hired.

According to data collected by the International Institute of Business Analysis, the average annual salary worldwide for a newly graduated junior professional is $57,693 and an average of $88,387 at a senior level. The highest earners, the executives, earn an average of more than $111,000.

How to Become a Business Analyst

To be a data analyst and to develop skills that allow the professional to evolve at the pace of the market and adapt to technological advances and the needs of companies and society in general specific training is required, such as that offered by the International Online Master in Project Management..

 What Skills Should a Business Analyst Have?

• Communication. It is key to being able to explain complex concepts clearly and concisely. The ability to communicate with different areas of the team will help optimize processes and improve results.
• Adaptability. The rapid technological evolution requires continuous learning in the face of constantly changing situations and the non-stop emergence of new technological tools.
• Teamwork. Business analysts collaborate with different departments to improve processes based on informed decision-making. Teamwork skills facilitate the best decisions.
• Analytical thinking. Identifying problems and being able to develop effective solutions is fundamental to the work of a business analyst.

Does Business Analysis require coding?

Although it is not strictly necessary, having basic programming knowledge is very beneficial for a business analyst. Knowing languages such as Python or SQL helps streamline data extraction and analysis processes. Additionally, mastering certain scripting languages facilitates task automation, speeding up processes.

Career Path of a Business Analyst

A business analyst career offers great growth opportunities. Based on the foundation provided by training, the combination of experience leads to the development of new skills and responsibilities. In the early stages, a junior business analyst mainly focuses on collecting documentation and basic data analysis. As experience and knowledge expand, senior business analysts are responsible for leading processes, interacting with key executives for decision-making, developing  strategies for improvement, and guiding different teams.

Which Business Analyst certification is best?

The preperation offered by the International Online Master in Project Management is the best means of orientation for students to obtain the most prestigious certifications for their role as Business Analysts. Some of the most noteworthy ones are:

• PMP® (Project Management Professional). Recognizes the ability to manage people, processes, and commercial priorities of professional projects. The average salary of people with this certification is up to 15% higher than that of workers without it.
• Certified Associate in Project Management (CAPM)®. This international certification endorses knowledge in junior project management. It guarantees proficiency in the basic language and procedures for carrying out the work worldwide.
• Professional Scrum Master from PMI. Demonstrates knowledge and skills in Scrum methodology. This is a globally recognized certification, highly valued in the field of project management.