Top 20 Business Analyst Skills for 2024

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Who is a Business Analyst?

Business analysts are not typical data analysts. Though they use data to drive business decision-making their main objective remains to find out what their organization should do to stay ahead of the competition. These professionals fill the gap between business requirements and technology. For example, these days, consumers expect companies to deliver personalized solutions. Business Analysts will step in and discover if that is something their business will benefit from using data analysis and consumer surveys.

Business analysts are involved in every aspect of business operations, starting from curating the strategy to creating enterprise architecture and optimizing costs and resources. Thus, these professionals require an array of technical and soft skills. We have highlighted the top 20 Business Analyst Skills in the section below.

Top Business Analyst Skills

Having a strong skill set is crucial to gaining success in the business analyst career path. This role is a unique position, which acts as a bridge between technical and non-technical domains and is also functional across multiple teams. Therefore, great proficiency is required with diversified skill sets. Here, we’ve compiled a list of the top 20 business analyst skills that include both technical and non-technical skills that a professional must possess in 2024:

Technical Business Analyst Skills

Since these professionals are supposed to optimize business operations and create strategies for businesses by leveraging data, they need many technical attributes, as highlighted below:

1. Statistics and Probability

Knowledge of statistics and probability is one of the basic technical skills that a business analyst should possess. As the role of a business analyst is to find solutions from the data at hand, methods of statistics and probability will help them connect the crucial dots and arrive at solutions. Statistics and probability help a business analyst have a better understanding of data to come up with efficient predictions.

Statistics helps business analysts analyze past outcomes and predict future performance, while probability helps business analysts make decisions based on the patterns present in the collected data.

The following are the topics that are the most essential to be mastered by these professionals:

• Permutation and Combination
• Probability Distribution
• Bayes’ Theorem
• Regression Analysis
• Sampling Techniques
• Hypothesis testing
• T-Distribution Testing
• Analysis of Variance (ANOVA)

2. Programming Skills

Business analysts usually deal with data and relevant coding. So, learning a programming language is essential for becoming a business analyst. Programming languages, such as R and Python are particularly valuable as they help with the handling of big data. Additionally, proficiency in database management systems is essential. Languages like SQL help business analysts extract, create, and modify data from databases.

Programming languages and databases required to be known by a business analyst are:

• Python
• R
• Oracle
• MongoDB
• SQLite and MySQL

3. Data Visualization

Data visualization is a required skill for transforming raw data into actionable digital representations. Data visualization skills help business analysts assist clients in understanding complex datasets and making informed strategic decisions to address their varied business requirements. 

There are various types of data visualization techniques used by business analysts, including scatter plots, time series sequences, polar area diagrams, timelines, line graphs, and more. A business analyst must have the expertise to utilize all these techniques to create elegant and comprehensive visualizations that facilitate clear understanding and decision-making.

The following are the visualization tools that you need to work on to become a business analyst; mastering these tools will add value to your skillset:

• Power BI
• Tableau
• Qlik Sense

4. Mastery Over BI Tools

Tools for Business Intelligence are important applications that help with data reporting and analysis. To effectively deal with data, analysts need these tools to transform raw data into insights that can be put into action and judgments that are well-informed. These technologies empower organizations to make fact-based decisions that lead to success by generating reports, creating interactive dashboards, and providing insights to stakeholders.

Here are some popular BI tools that business analysts should be familiar with:

• SAP BusinessObjects
• IBM Cognos
• Microsoft Power BI

5. Agile Methodologies

Agile methodology is a flexible approach to project management and software development that prioritizes collaboration, adaptability, and customer feedback. By breaking projects into small, iterative increments called sprints, Agile enables teams to respond quickly to changing requirements and deliver value to customers on time. 

Agile methodologies benefit business analysts by enabling them to gather and prioritize requirements based on customer feedback, collaborate closely with cross-functional teams, and adapt to evolving business needs. This iterative approach offers continuous improvement, reduces errors, and ensures that final products meet user expectations and organizational goals, ultimately driving innovation and enhancing customer satisfaction.

Here are some key aspects of agile methodologies:

• Scrum
• Kanban
• Lean
• Extreme Programming (XP)

6. Process Modeling and Analysis

Business process modeling is the method of visualizing the entire organization’s business process from the very start to the end using visual workflows like diagrams, charts, and flowcharts. The ability to break down complex business processes and model them is critical for business analysts as they are the ones tasked with optimizing the entire business process. 

Once the business model is mapped, business analysts also have to carry out a thorough analysis to figure out how they can optimize the business operations, cut costs, and improve overall organizational efficiency.

7. System Analysis

To ensure that the technical infrastructure is running smoothly, business analysts have to carry out extensive system analysis. They monitor and evaluate how the technology is being used in their business space, and finally, they ensure that every department gets access to the tools that are necessary for their success. That is why learning about system analysis is a must for business analyst professionals.

8. Database and SQL

Business analysts work with a lot of data, and thus, the­y need to know how databases work, like­ SQL Server and MySQL. Also, it is important to know that many companies store­ information in these databases. Hence, analysts must have hands-on e­xperience with SQL to access and change data e­asily. They write code to cre­ate, delete­, get, update, and add data. Databases are­ key for their job. They handle­ huge amounts of data. That’s why SQL skills are so important. Without them, analysts can’t do the­ir work properly.

9. Microsoft Excel

Excel is one of the oldest and most powerful analytics and reporting tools. Business analysts use Microsoft Excel to conduct a variety of calculations, make reports, and carry out budget analyses to uncover business trends.

Microsoft Excel is a versatile spreadsheet that is very helpful for handling and analyzing data easily. With just the appropriate formula, you can calculate the required parameters in a matter of seconds. Excel is quite easy to learn and use due to its user-friendly interface. It helps business analysts prepare documentation and even make decisions.

10. Knowledge of ERP and CRM Systems

ERP (Enterprise Resource Planning) and CRM (Customer Relationship Management) systems empower business analysts to access centralized data, optimize processes, analyze information, gain customer insights, forecast and plan, and facilitate collaboration. 

By utilizing these systems, business analysts can enhance their ability to drive data-driven decision-making and contribute to the success of the organization.

11. Creating Dashboards and Visualization Reports

Business analysts use tools like Tableau, QlikVie­w, and Power BI to create reports and dashboards that help solve problems and make decisions based on business needs. Understanding these tools is crucial for their success.

Three types of business dashboards will be the most helpful to your business: an operational dashboard, a strategic dashboard, and an analytical dashboard.

There are 5 main types of business reports, including, research reports, analytical reports (i.e. financial analysis or market analysis), performance reports, inventory reports, and trend reports. Some companies use business daily reports, while others do business reporting on a more infrequent basis.

12. Documentation and Presentation

Documentation and presentation skills are essential to learn if you are thinking of becoming a business analyst. Such skills are effective in conveying analyses, findings, and recommendations. Moreover, clear and concise documentation helps to communicate technical concepts to non-technical stakeholders, while strong presentation skills enable them to confidently present project outcomes to clients. By having appropriate tools and avoiding technical jargon, business analysts can maximize the impact of their documentation and presentations.

13. Strong Understanding of Business Processes

Business analysts need to have an understanding of the business procedures that are relevant to their field. This involves being aware of the workings of many departments, understanding procedures, finding problems, and spotting chances for development. Business analysts play a key role in connecting technology solutions with business goals by understanding how business processes work. This ensures that IT projects match what the organization wants and deliver the most value.

Non-Technical Business Analyst Skills

1. Communication Skills

Communication skills are integral for business analysts. Their primary responsibility is providing solutions for business development; therefore, they should be capable of sharing their ideas and views with their team so they can effectively convey their point. In addition, daily client and stakeholder meetings necessitate meeting professionals so they must ensure clients understand what they have to say – all this requires excellent communication abilities from professionals.

Here are a few ways you can enhance your communication skills:

• Although you may be comfortable using verbal communication within an office environment, working with clients from diverse geographic regions becomes ever more complicated.
• Listening will help you understand different accents used around the globe while conversing and watching movies will also assist with developing better communication skills. So pay close attention when listening and speaking! So listen carefully before engaging!
• When you hear new words or sentences, look up their meanings and try to use them. Talking with people who have better knowledge of a language than you can be very helpful. You can also record your voice and listen to your way of speaking so that you can figure out where improvement is needed.
• Prepare yourself before speaking. It is okay to take a few seconds while replying to any conversation. Take time to collect your thoughts, and then continue.
• For people who struggle to speak with strangers, the only solution is to maintain a positive attitude. Start with a smile and a greeting, and then carefully start the conversation. Try collaborating with more people, even if it is challenging for you. Eventually, you will be able to overcome your inhibitions.

Be proficient in speaking languages, improve your communication skills and learn from your errors!

2. Negotiation Skills

A business analyst requires negotiation skills to act as a bridge between IT or tech and business teams in an organization.

To implement any business solution or idea, the business team and the tech or IT team must agree on the requirements and the solutions that are put forward. To do that, a business analyst should have the skills to negotiate with both teams on various terms and conditions.

To negotiate with individuals from different teams, a business analyst needs the following qualities:

• Patience is required to explain your point clearly and convince your co-workers to adopt your suggestions.
• Interacting with your co-workers or clients in a friendly manner allows you to create a cordial environment that facilitates making them listen to your point and convincing them of the same as well.
• Being practical is necessary. People will only agree with you if you have practical and feasible solutions.
• Being bossy is sometimes required. You may have to lead the team if it is working on your idea. In such cases, you might have to divide the responsibilities among the team members and lead them.

As you can see, negotiation skills are as important as any other skill to become a business analyst.

3. Critical Thinking

Business analysts must have the ability to think critically because they need to meet the client’s expectations with their analysis of the data. So, business analysts have to analyze the data in light of different aspects and prioritize business requirements.

Business analysts should also concentrate on the data that they are collecting and the methods used for the same because only perfect data can give perfect results. Thus, to fulfill various business demands, business analysts should inculcate critical-thinking skills as well.

The steps that you can follow to think critically are as follows:

• Write down the question and understand it thoroughly
• Assemble all the required information
• Use what you have learned from the available information
• Consider the consequences
• Consider alternative viewpoints

4. Decision-Making

A business analyst is expected to provide solutions that are beneficial to organizational growth. A business analyst’s findings can have a huge impact on an organization and its decision-making. The decisions made based on the findings of a business analyst can overpower competitors and propel your organization to a new level.

That is why business analysts need to think more than twice before finalizing any decision. The mindset to think from different angles and predict possible results helps business analysts make perfect decisions.

For better decision-making, you need to follow the below-mentioned points:

• Recognize the main aspects that will influence the outcome of a decision
• Make an accurate measurement of your choices and set goals
• Consider the possible outcomes and their logical implications
• Identify danger and dissolve any confusion
• Consider effective methods in situations that require economic evaluation
• Always make the best decision possible

5. Problem-Solving

Expertise in problem-solving helps business analysts succeed in their careers. The role of a business analyst is challenging at every step, and they should be able to solve these challenges in order to overcome them. Thinking deeply about a problem’s source and causation will lead to finding appropriate solutions.

To solve any business problem, as a business analyst, you can follow these steps:

• Identify the problem
• Determine the root cause of the problem
• Try examining the problem from different perspectives
• Find out a possible solution
• Identify the consequences of the solution
• Implement the solution
• Always review the result to further improve the solution

6. Strong Business Acumen

Strong business acumen refers to a high level of understanding and insight into various aspects of business operations and dynamics. It encompasses a combination of knowledge, skills, and abilities that enable individuals to make informed decisions, analyze situations effectively, and drive business success. 

Here are some key characteristics of strong business acumen:

• Business Knowledge
• Industry Awareness 
• Financial Acumen
• Strategic Thinking
• Problem-Solving Skills 
• Data-Driven Decision Making
• Understanding and managing risks associated with business operations
• Strong verbal and written communication skills 
• Adaptability and Agility
• Having a proactive and innovative mindset

7. Collaboration and TeamWork

Last but not least, Collaboration and Teamwork, are crucial in achieving collective goals, enhancing productivity, fostering innovation, and creating a positive work culture. By leveraging the strengths and expertise of team members, collaborating effectively, and promoting a cooperative environment, organizations can achieve higher levels of success and performance.

Here are some tips that you should consider while collaborating and working in a team: 

• Communication: Open and transparent exchange of information
• Roles & Responsibilities: Clear understanding of individual tasks
• Active Listening: Truly understanding what others are saying
• Diversity: Valuing and leveraging different perspectives
• Conflict Resolution: Addressing disagreements constructively
• Collaboration Tools: Utilizing technology to streamline teamwork
• Regular Check-ins: Maintaining clear communication and progress updates
• Feedback: Encouraging constructive criticism for improvement
• Adaptability: Embracing change and challenges as a team
• Celebrations: Recognizing and rewarding team accomplishments

How to Develop Business Analyst Skills

It’s important to realize how you can enhance your skill sets as a Business Analyst. This is why we have mentioned a few tips to help you understand the skills needed to be a Business Analyst:

1. Understand Why You Are Looking

Business analysis re­quires clarity of purpose. Are you analyzing a routine­ situation, or looking into a particular problem’s root cause? If not your decision, ask the­ stakeholders about their inte­nt. Understanding the goal helps tackle key problems. Purposes vary, so e­stablishing the aim upfront allows for focus. Understanding why priorities change is crucial for directing your efforts effectively. Start by figuring out the intention behind the analysis, as context matters. With a clear purpose in mind, you can naturally focus on the relevant elements.

2. Utilize a Range of Tools

Many tools can assist business analysts. Howe­ver, using them simultaneously is impractical, le­ading to overlooking certain resource­s. To enhance analytical skills, synthesizing various approache­s, like SWOT analysis, offers a comprehensive­ perspective. Combining me­thodologies provides insights difficult to gain from single me­thods. Simple sentence­s. 

3. Investigating the Root Causes 

If your business struggle­s with revenue, don’t stop the­re. Look deepe­r. Figure out to understand why products aren’t selling. Is marketing ineffective? Is there a flaw in the sales funnel design? Instead of just addressing surface issues, identify the root cause. By finding the source, you can avoid constantly fixing problems.

4. Present Findings in a Meaningful Way

Make sure your conclusions are solid, justified, and directly related. Even if it means simplifying data or leaving out minor details, ensure your findings are clear and credible. This helps everyone understand your study better, now and in the future.

5. Seek Feedback and Continuous Improvement

Regularly seek feedback and input from coworkers, mentors, or superiors to identify areas for improvement. Reflect on your work and learn from your experiences. Keep striving to enhance your skills and performance.

Conclusion

After reading this blog, we hope you have understood the required skills that are necessary to become a business analyst. Today, to develop business operations, there is always a need for professionals with expertise in key business analyst skills. Therefore, skilled and certified business analysts are in high demand across all industry verticals.

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