In this blog, we will walk you through the various business analyst career paths. Along with that, we will also discuss the business analyst roles and responsibilities, skills required to land a job, and expected average salary based on the salary trends gathered from Glassdoor.
The followings topics are covered in the blog:
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What Does a Business Analyst Do?
Before jumping right into the various business analyst career opportunities, let us discuss what exactly a business analyst does on a day-to-day basis.
Business analysts are responsible for assisting businesses in improving their processes and structures. They perform research and analysis to develop solutions for business issues and assist in the implementation of these solutions. Business analysts are essential because businesses depend on them for continuous analyses and suggestions, as the data they provide is often used to enhance decision-making processes and reconfigure business priorities, both internally and externally.
Is Business Analyst a Good Career?
When it comes to the question whether a career as a business analyst is good or not, our simple answer is yes. A career as a business analyst can be satisfying and lucrative and an excellent career option if you are interested in data, analytics, and solving business issues. The quality of the tasks, like any other profession, is a crucial component in determining whether or not a career as a business analyst is suited for you. To a significant extent, your success will be determined by your ability and competency. Overall, this career choice will be a great choice in terms of career growth, technology exposure, job satisfaction, and high remuneration.
Top In-demand Business Analyst Career Paths and Salary
Here are some top demanding career paths for business analyst professionals. We have compiled a list of job roles and their responsibilities along with the skills required for the respective job roles. We have also included the average salary range for the job roles. Continue reading to know more.
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IT Business Analyst
IT business analysts play a vital role in project management, especially for technology-focused business projects. The capabilities of an IT business analyst are important to any project’s progress.
The following are the responsibilities of an IT business analyst:
- Recognizing market needs and development strategies
- Improving the quality of IT products and services of the company
- Examining the designed technological systems and business models
- Getting business insights from available information
- Analyzing company requirements
- Identifying and implementing new business technologies
- Developing technical innovations to meet business needs
The following skills are needed to be a successful IT business analyst:
- Proficiency in SQL
- Knowledge in solutions development
- Written and verbal communication skills
- Problem-solving skills
- Research and technological adaptation
The average salary of an IT business analyst in India is ₹746,000 p.a.
Data Analyst
A data analyst is responsible for maintaining database systems and interpreting datasets with various statistical tools. A data analyst must have an uncanny capability to connect apparently unrelated data points and provide decision-makers with actionable information.
The following are the roles and responsibilities of a data analyst:
- Creating, updating, and deleting master data
- Assisting in the quality assurance of imported data, if possible, by collaborating with quality assurance analysts
- Generating datasets
- Proficiency in areas such as data storage systems, data mining, and data cleansing
- Assisting with the development of reports and analyses
The following skills required to become a data analyst:
- Knowledge of database languages such as SQL, Python, or R
- Proficiency in spreadsheet tools such as Microsoft Excel or Google Sheets
- Experience with data visualization software such as Tableau or Qlik
- Mathematical and statistical skills to gather, measure, organize and analyze data for the company
The average salary of a data analyst in India is ₹433,494 p.a.
Quantitative Analyst
A quantitative analyst is a specialist who employs quantitative techniques to assist businesses in making financial decisions. They work in the finance industry to develop methodological and quantitative techniques for measuring, studying, and evaluating financial markets, financial instruments, and consumer behavior.
A quantitative analyst should fulfill the following responsibilities:
- Researching and evaluating industry dynamics and statistics to aid in decision-making
- Creating sophisticated quantitative models and applying analytical software or tools
- Performing statistical analysis every day
- Proficiency in model requirements and data collection methods
- Testing new models, products, and analytics programs
- Maintaining and updating in-use financial models
A quantitative analyst must possess the following skills to fulfill the above-mentioned responsibilities:
- Statistics
- Linear algebra
- Accounting
- Financial analysis
- Analytical problem-solving skills
In India, a quantitative analyst earns an average annual salary of ₹1,369,949.
Business Analyst Manager
Any company that wishes to accelerate its business goals and boost its profits hires a business analyst manager. They set organizational goals, oversee project analysts and other team members, and create project schedules. In short, business analyst managers look for ways to maximize production.
The following are the responsibilities that need to be fulfilled by a business analyst manager:
- Budget planning and growth, as well as ensuring that they are adhered to by everyone in the company
- Managing and supervising a team of project analysts, IT staff, and others
- Creating projects, upgrading schedules, and ensuring that everyone is on the same page
- Understanding and maintaining different business divisions
- Establishing professional relationships with vendors and clients
- Hiring and training new employees
The following skills are required by a business analyst manager to fulfill the above-mentioned responsibilities:
- Strong team leadership and development skills
- Awareness of emerging technological advances and inventions
- Database architecture and design skills
- Communication, negotiation, and problem-solving abilities
- Critical-thinking and multitasking capabilities
The average annual salary of a business analyst manager in India is ₹1,602,398.
Information security analysts protect a company’s confidential and mission-critical data by being one step ahead of cyberattacks. Information security analysts do this by developing novel ways to prevent sensitive information from being hacked, destroyed, or exploited by hackers.
The following are the roles and responsibilities of information security analysts:
- Keeping an eye on computer networks for security flaws
- Investigating security breaches and other events involving cyber security
- Installing firewalls and data encryption software, as well as other security measures and tools, to secure networks and information infrastructure
- Keeping track of security breaches and any harm caused by them
- Maintaining a high level of protection by fixing any discovered vulnerabilities
- Collaborating with the security team to run checks and find network flaws
The skills required to land an information security analyst job are as follows:
- Knowledge of software such as Tableau
- Knowledge of cyber security
- Knowledge of network security management
- Knowledge of security testing and auditing
- Analytical thinking
In India, on average, an information security analyst is paid ₹621,213 p.a.
Solutions Architect
A solutions architect is responsible for analyzing modern computer infrastructure, planning and implementing emerging technological solutions, and adapting software and hardware to complement the existing business environment to meet a company’s needs.
The following are the responsibilities of a solutions architect:
- Identifying the most effective methods for completing projects and achieving a company’s objectives
- Providing project managers with the requisite advice and perspective
- Identifying emerging technologies or developments worth pursuing to create a solution prototype
- Choosing and developing the technology to be used
- Managing the evolution of the chosen solution
- Assisting in project management from production to delivery
The following skills are required by a solutions architect to fulfill the above-mentioned responsibilities:
- DevOps
- IT infrastructure
- Business analysis
- Project and resource management
- Superior communication skills
The average annual salary of a solutions architect in India is ₹1,869,811.
Steps to Pursue a Business Analyst Career
You can step into your desired career as a business analyst with three steps. They are as follows:
Step 1: Finish Your Undergraduate Degree
Almost all business analysts hold a bachelor’s degree, but many go on to earn a master’s degree and other advanced degrees. However, their basic educational qualification must include an undergraduate degree in accounting, banking, or business management. So, complete your degree, and along the way, try improving your skills.
Step 2: Take Up an Online Certification Course
You need to pursue certifications in business-analysis-related courses to expand your skill set. To learn more about business analysis effectively, it is better to enroll in an online certification course that gives an in-depth knowledge of SQL, Tableau, Power BI, Agile Scrum Master, and other business analysis principles and tools. A certification will definitely help you improve your career growth in the domain.
Step 3: Gain Hands-on Experience
If you are studying, you can still get a head start in your career with summer internships in related fields. Gaining hands-on experience is essential as it will familiarize you with the workings of the industry, which will help in making you job-ready. Moreover, you need a lot more experience to work on various tools such as Tableau and Power BI. If you are already working in another job role and wish to switch to business analysis, then ask your supervisor or manager to consider you for projects that require business analysis skills or to put you on a team that might require you to work as a business analyst. This would help you gain experience, and, eventually, you will be on track to have a business analyst career.
Things to Avoid
Many people are unfamiliar with the role of a business analyst, which may lead to mistakes and you might not be able to get into your dream job. So, we have here made a list of things you need to avoid in the business analyst career path.
- Stop thinking that communication skills are any less than technical skills. Communication skills are crucial in such roles like business analyst because they are responsible to communicate and collaborate with various teams.
- Widen your opportunities and do not settle down. As we have discussed earlier, business analyst’s do have many career paths. So, If you are in this career, learn more, gain more experience and switch careers.
- Do not avoid the project requirements. This is one of the most common mistakes every fresher business analyst makes. Avoiding requirements will result in poor quality of the project. If you want to keep your team’s efficiency standards high, you need to make sure all their requirements are met.
- Avoid neglecting documentation. Documentation plays an important role in containing all the essential information about the project. It also acts as evidence. So, Making any small mistake in the documentation can be a risk. Hence, business analyst’s do need to create documentation carefully.
These are some often mistakes business analysts need to avoid in their career.
Conclusion
The scope of a business analyst job is vast, and there are several opportunities for a business analyst in the industry. Therefore, if you want a career as a business analyst, then Intellipaat will help you in landing your dream job. Through various hands-on assignments and case studies, Intellipaat’s Business Analyst Certification will train you in the core skills required by business analysts, such as preparation and elicitation, project management, business analysis methods and techniques, business process modeling, and more. Enroll yourself in this Business Analyst course today and gain in-depth knowledge.