What is a Business Analyst?

A Business Analyst is a professional who analyzes a company’s business domain or industry and documents its organizational structure, processes, product or services, or its integrated system or business model, analyzing the company’s strategy, operation, or organization. Business Analyst assists in guiding companies in improving their operational processes, products, solutions, and applications through efficient data analysis.

The analytical process can help companies identify, solve, improve, manage, or enhance current business problems. They work together with business management to formulate strategies, develop plans, evaluate future requirements, and recommend solutions. Good Business Analysts can effectively analyze the overall performance of a firm as well as the specific business units to help in evaluating the performance of business units. Their work can be based on various levels of analysis, such as customer, market, industry, government, and social enterprise, in addition to management, finance, and operations.

Most companies are concerned about how they can increase their productivity, thereby reducing their costs, while still providing services and products that are appealing and effective. In order for businesses to be competitive, they should be able to increase sales volume. Good Business Analysts should be able to identify opportunities to improve their current business processes and present business opportunities to business owners.

As most Business Analysts are required to maintain detailed reports, it is imperative that they have the ability to interpret information effectively. They should be able to understand business strategies and plans, formulate and implement solutions, and analyze data. In addition, good Business Analysts must also have good interpersonal skills, since business issues involve both business and human interactions.

Business Analysts can be employed directly by companies in one of many different roles. For example, they may be hired as consultants by companies who are interested in enhancing their business processes or systems. Business Analysts may also be consultants to organizations that require help in determining which business areas to focus on improving. Other areas in which Business Analysts may work include consulting companies that are looking to expand their business, providing training, and other technical assistance.

In order to become a Business Analyst, a person must have at least an undergraduate degree. The higher a degree is, the more likely that a person will be able to obtain employment in the field. Business Analysts are in high demand today due to the importance of the analytical skills that they posses. To become a Business Analyst, one must demonstrate strong writing skills, excellent analytical and critical thinking skills, ability, be able to communicate, and understand information systems, and concepts, ability to analyze large quantities of data, have knowledge about business theory, and statistical methodologies, and a willingness to work with others to establish and modify business strategies.