Why become a Business Analyst – How many times you think this question ? Better to understand Job Profile and find your calling
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 analysts examine data, processes and systems, and use their findings to help companies make better business decisions. Unlike financial analysts, business analysts do not analyze exclusively numerical data, nor are they focused on the markets and investing. The scope of business analysis is broad within the field are several subcategories such as strategic planning, model analysis and systems analysis. Business analysts study everything from business needs to policies and regulatory compliance, workflows, management structure and information technology improvement.
This is an excellent career choice for a young professional with exceptional problem-solving skills, keen leadership abilities and strong computer literacy.
Their duties include:
- 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.
- Driving and challenging the presumptions of business units on how will they successfully execute their plans.
- Serving as a channel between the internal-external customers and the software development team through which requirements flow.
- Delivering work products throughout the project life cycle, etc.
Business analysis is a broad enough field to offer room for a wide area of backgrounds, skill sets, experience levels and educational attainments. Unlike careers such as law and medicine, no uniform requirements exist to become eligible to practice in the field. Your prospective employer determines on an individual basis how much education, experience and skill you should bring to the table in order to get hired.
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.
With the competitiveness of the job market as of 2017, a bachelor’s degree has become a Prior requirement for having a strong chance of landing a well-paying job as a business analyst. The right major depends on the sub classification of business analysis.
An information technology degree is a good precursor to a career as a systems analyst. Aspiring business analysts looking to get into less technical areas of the field may consider degrees in management, finance, statistics and even human resources.
As with most analyst careers, an MBA is always helpful for a candidate wanting to give himself an advantage over his competition in the job market.
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.
The average pay for a Business Analyst, IT is Rs 584,753 per year. Experience strongly influences salary for this job. Most people with this job move on to other positions after 10 years in this career.
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 experience is around USD 7,500.
If going for a business analyst career is your decision then its better you start right away and line up some interviews for yourself because business analysts are required to have over all business knowledge and skills.
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