Why is Business Analytics so important? New businesses are making their way into the market rapidly and this in turn is increasing the competition. With growing competition and hunger to be the best in industry, there is a need for consistent performance and perseverance to achieve the success in business. Business Analysts are the individuals who can play a major role in making things right for the business.
Business Analyst professionals are hired especially to improve the competitiveness and performance of a company. They help in determining the needs of an organization and provide foolproof system based solutions to improve the efficiency levels to its optimum level. They can be seen today as a ‘connection’ between the current problems and issues a company is currently facing and the answers to fixing them.
• Using activity diagrams, use cases, scenarios, business analysis, flowcharts, document analysis, requirements workshops, surveys, site visits, business process descriptions, interviews and workflow analysis to Induce and manage requirements
• Gathering information from multiple sources and critically evaluating it, reconciling conflicts, disseminating high level information into details and distinguishing user requests from their true needs
• Driving and challenging the presumptions of business units on how will they successfully execute their plans
• Interpreting business needs of customers and translating them into application and oprtaional requirement with the help of strong analytical and product management skills
• Establishing the technical vision and analyzing tradeoffs between usability and performance needs by teaming up with developers and subject matter experts
• Liaisoning between technology teams, support teams and business units
• Using standard templates and natural language to develop requirement specifications
• Serving as a channel between the internal-external customers and the software development team through which requirements flow
• Communicating and collaborating Proactively with external and internal customers to analyze information needs and functional requirements and delivering Use Cases, GUI, Screen and Interface designs as and when required
• Delivering work products throughout the project life cycle
• Analyzing information from surveys and workshops, task analysis, and business process description
• Conferring with project managers to define concepts and using enterprise-wide requirements definition and management systems.
These were the primary responsibilities which a business analyst has to prove his worth with by completing them efficient and in time. Now let us understand some of the duties of a business Analyst.
• Defining and documenting customer business functions and processes
• Identifying, defining and documenting business needs and objectives, current operational procedures, problems, input and output requirements and levels of systems access after consulting with functional unit management and personnel
• Analyzing the practicability of and developing requirements for new systems and upgradations to existing systems
• Ensuring the system design is perfect as per the needs of the users
• Helping in developing an comprehensive change in management strategy for the court
• Maintaining wizard-driver configuration tables in the case management system
• Participating in user acceptance testing and undertaking the functionality testing of new system
• Assisting technically in training and coaching professional and technical staff
• Developing training curriculum and conducting formal training sessions covering assigned systems module
• Acting as a team lead on designated projects or assignments and providing work direction to one or more technical or clerical staff.
As far as salary package offered to Business Analysts are concerned, they differ from country to country and company to company. It is not a surprise that business analysts get a fatter pay check compared to other job roles in finance industry given the fact that they have the responsibility to raise the business productivity to the desired height.
According to the survey conducted by ‘whatdoesabusinessanalystdo’, the following trend has been observed in the average salary packages offered to a business analyst globally:
• Top business analyst gets paid USD 112,000 to USD 120,000
• The earning potential of a business analyst with a month average salary ranges from USD 3,000 to USD 11,000.
• Average monthly salary offered to females is USD 5,193 and to males is USD 5,573
• Average monthly salary offered to a business analyst professional with 2 years of work ex. is around USD 4,000 and that to a professional with 25 years of work ex. is around USD 7,500.
So ultimately it’s upon you as to which salary bar you want to place yourself in. If going for a business analyst career is your decision then its better you start right away and line up some interviews for yourself. To help you clear your business analyst job interview, we have collated a list of Important Interview Questions and their Answers that will help you in clearing your interview.
Business analysts are required to have over all business knowledge and skills, which can be obtained through EduPristine’s Business Analytics Certification.
Let us know how this article has helped you in getting insights about the job description, duties and salary package of a business analyst.
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