A business analyst is a very responsible job profile. There are many things that you need to know if you want to follow a Business Analyst career path. So, here is the list of things that we are going to discuss in this blog.
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Before going through the steps of how to become a business analyst. Let us discuss who is a business analyst.
Who is a Business Analyst?
A profile of a business analyst is becoming progressively vital to effective business tasks. They are responsible for understanding the changing business needs, assessing the effect of these changes, recognizing and examining necessities, reporting, and working with correspondence with both the technical and business teams. They contribute effectively to an association’s productivity and supportability.
A lot of people believe that a business analyst makes money for a company. While that is not completely true, the work that a business analyst does in a company affects the finances of the company. The job of a business analyst revolves around reducing the gap between the IT department and the business processes. They use data analytics to analyze the process, and requirements and give important recommendations from their findings.
Business analysts are also responsible for making business leaders, as well as users, understand how business analysis can improve organizational and operational efficiency. They give recommendations based on what is technologically, functionally, and financially reasonable. Business analysts can change how work is conducted in businesses, for-profit or non-profit, or government organizations.
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How to Become a Business Analyst in India?
In this section, we are going to discuss the various factors that will help you in becoming a successful business analyst and give you the right direction to know how to get a business analyst job. This section includes the primary qualification and skills needed to become a business analyst. Also, in the upcoming sections, we will also include the career options that are available in the domain of business analysis. But first things first, let us start with the steps required to become a successful Business Analyst:
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Start with Basics of Business Analyst
The first and foremost thing required to excel not only in Business Analytics, but also in other domains is getting the basics correct. For this, you can start with some research about the foundational level concepts of business analytics. You should first get a proper understanding of what is the role of a Business Analyst. Blogs, free tutorials can help you decide whether you wish to learn business analytics or not.
Once you are done with your basics and preparatory level, you should start by getting a Business Analytics related degree. A master’s degree in business administration (MBA) will be more supportive for you in interviews. However, a bachelor’s degree is sufficient to enter the field of business analysis.
If you want to pursue a career in business analysis, earning a bachelor’s degree is essential. If you are about to start your studies, then pick a business, accounting, economics, information systems, human resources, or other related fields. If you have already completed your bachelor’s degree in other specifications, don’t worry there is no particular need for only certain specifications.
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Acquire Business Analyst Skills
Wondering how to be a good business analyst? To become a successful business analyst, you need to enhance your skills. The top five business analyst skills are mentioned below:
- Business Analytics
Business analysts, as the name implies, are responsible for analyzing business strategies. They should be able to deal with analysis. So, they need to become experts in business analytics. Business analysts should have the basic analytical skills of probability and statistics.
- Problematic Skills
All businesses are prone to complications. Business analysts have to predict the consequences and should have the problematic skills that help businesses to overcome challenges.
- Communication Skills
As previously mentioned, business analysts are the bridge between the business and technical team. So, they must have excellent communication skills in order to work with all teams as well as clients and stakeholders. Good communication skills help business analysts to negotiate with anyone and ensure that everyone understands their point of view.
- Stakeholder Analysis
Stakeholder analysis is an excellent way to ensure that a high-quality product is delivered. It aids in comprehending the point of view of the product’s various stakeholders and the degree to which they can influence the project. Stakeholder analysis identifies and eliminates several obstacles for better understanding a project’s development.
- Technical Skills
When considering the technological skills required by business analysts, database analysis, data visualization, frameworks, and systems come to mind. Market analysts serve as liaisons between professionals and business people, so business analysts need to be up to date on their technical skills.
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Get Online Certification of Business Analyst
You may obtain certifications to show your core competencies and learn about the latest software and technology. Certifications can be especially useful if you want to advance your career. While unique certifications may not be required by employers, having one in your preferred field of expertise will help you stand out.
Some of the best certifications offered by the International Institute of Business Analysis (IIBA) are Entry Certificate in Business Analysis (ECBA), Certification of Competency in Business Analysis (CCBA), Academic Business Analysis Certificate (ABAC), and Certified Business Analysis Professional (CBAP).
Enroll in a course that will help you gain the required technical skills and knowledge about the various business analysis tools and also help you get certified by IIBA.
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Work on Real-time Projects to Gain Practical Knowledge
Once you are thorough with the concepts, techniques and are equipped with the skills required for Business Analytics, build your practical skills by working on some real-time projects based on Business Analytics. This will assist you to know how to be a business analyst by learning more about the resources and technologies available and how they are used by companies. You will also learn how companies operate and what a business analyst’s roles and responsibilities are so that you can perform better in higher positions in the future.
So, if you’re wondering how to become a junior business analyst. Don’t be concerned; simply improve your technical and soft skills and apply for a position as a junior business analyst, and work effectively under the supervision of a senior business analyst to fulfill all of your responsibilities.
Prepare a Good Portfolio to Present your Hands-on Experience
A good portfolio is very important to make a good impression on the recruiters and showcase your skills and expertise. To build a strong portfolio, you need to include all your practical projects you have worked upon and any other practical assignments etc. Also, any projects done during your internship or online certifications must be included in the portfolio.
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Apply for a Job
After having all the skills and experience, you will be eligible to apply for a business analyst job. Before applying to a company, don’t forget to update your resume. Since the first impression is the most important, use your resume to catch the interviewer’s attention.
Remember to include, in your resume, all of the skills you learned from online courses as well as tasks you worked on at previous jobs, then check out the job openings for business analysts at various companies. Apply for a job. Do some preliminary research on the company and its requirements, and prepare accordingly. Undoubtedly, you’ll get a job.
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What Does a Business Analyst Do?
Business analysts have to be in touch with all stakeholders and have to explain, analyze, and recommend the need for changing business processes, policies, and information systems. It is the job of business analysts to steer companies toward enhanced efficiency, profitability, and productivity.
A business analyst does the following things:
- Come up with solutions for improving the existing business processes
- Know the steps or tasks that need to be implemented to support their recommendations
- Design the new features that have to be implemented
- Run an analysis on the impact of the new features
- Implement the new features according to their findings
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Business Analyst Job Roles
The following are the top five career opportunities for business analysts:
- IT Business Analyst – An IT Business Analyst focuses on improving all IT operations within a company. They are responsible for analyzing all the software, hardware, and IT operations employed by the company. The average salary for an IT Business Analyst in India is ₹611,846.
- Data Analysis Scientist – A Data Analysis Scientist analyzes data to reveal information about specific topics. They gather the required information through surveys, interpret it and then present it in data or reports. The average salary for a Data Analysis Scientist in India is ₹860,316.
- Business Analyst Manager – Business Analyst Managers are responsible for managing a team of analysts who will develop, implement, and gather data. A Business Analyst Manager oversees their coaching. The average salary for a Business Analyst Manager in India is ₹800,000.
- Quantitative Analyst – A Quantitative Analyst uses mathematical models to support all the financial decisions on risk management, pricing structures, and investments. Their main goal is to reduce business risks while setting the company up for maximum profit. The average salary for a Quantitative Analyst in India is ₹1,018,422.
- Data Business Analyst – A Data Business Analyst works with huge data sets to identify trends, and create charts and visual representations, to help with business decisions. The average salary for a Data Business Analyst in India is ₹833,165.
Business Analyst’s Salary?
In this section, we will take a look at how much a business analyst earns annually.
According to PayScale, the average annual salary for a business analyst in India is ₹607,006.
An entry-level Business Analyst with experience of less than a year can expect to receive ₹354,534 annually in India, including tips, bonuses, and overtime.
An early-career Business Analyst with 1-4 years of experience can earn ₹514,652 as their annual salary. A Business Analyst with 5-9 years of experience, or mid-career level, can expect ₹829,344 as their annual salary.
An experienced Business Analyst with 10-19 years of experience can get ₹1,245,341 as their annual salary. Business Analysts with a late career, and over 20+ years of experience, can receive ₹1,709,173 as their average annual salary.
As you can see, the salary trends for the profile of a business analyst in India are quite high. So, if you want to pursue a career as a business analyst, now is the right time to do so.
Get detailed insights on business analyst salary trends in India by following our blog on Business Analyst Salary in India.
Conclusion
These days, companies have huge data access and the demand for a business analyst is widely increasing. Whether you are looking to start your career as a business analyst or you want a career change, the profile of a business analyst is a very promising prospect.
Intellipaat offers a Business Analyst course, in association with IIBA, in which you will get a thorough understanding of business analyst core competencies, requirement preparation, and elicitation, project management, tools and strategies, business process modeling, etc., in addition to hands-on projects and assignments. So, if you’re looking for comprehensive training from experts, look no further and enroll now!
Frequently Asked Questions (FAQs)
Can we become a business analyst without experience?
Yes, with relevant educational qualifications and skills like data analysis and communication, one can start as a junior business analyst without experience.
How do I start a business analyst with no experience?
Gain relevant skills, take courses, earn certifications, understand the industry, and apply for entry-level positions or internships to build your profile.
Can a fresher join as a business analyst?
Yes, freshers can join as business analysts, especially if they have relevant educational qualifications and have developed analytical and communication skills.
How do I start a career in business analysis?
Start by acquiring relevant skills in analytics, understanding business processes, gaining domain knowledge, and considering certifications to enhance your employability.
Is coding required for business analyst?
Coding is not mandatory but can be beneficial for a business analyst, especially for data analysis, automation, and dealing with IT stakeholders.
Is MBA necessary for business analyst?
An MBA is not strictly necessary but can be advantageous for understanding business processes, strategy, and management in a business analyst role.
Is business analyst job hard or easy?
The difficulty level is subjective and depends on your skills and adaptability. It involves understanding business processes, data analysis, and facilitating solutions.
What is the lowest salary of a business analyst?
The lowest salary varies globally. In countries like India, entry-level business analysts might earn around INR 3-4 lakhs per annum.
Is business analyst a difficult career?
It can be challenging as it requires understanding business needs, analyzing data, and ensuring that proposed solutions meet stakeholder requirements.
Who qualifies for a business analyst?
Individuals with analytical skills, understanding of business processes, good communication skills, and preferably with educational background in business, IT, or related fields qualify.