what is a business analyst?
Your job is to help your employer improve productivity, solve existing business problems and achieve goals. A business analyst works alongside business and data analysts to investigate issues that affect profitability. As a business analyst, you check financial information and company data to find issues in the business model that affect profitability. You also ensure the company operates at an optimal level by identifying wastage and introducing technologies that boost productivity. After analysis, you provide recommendations to improve business processes, software and products.
Apart from analysing internal company data, you monitor market trends and provide feasible solutions to the company's problems. You also advise on the organisation's investments and the best time to sell company assets. You constantly learn and implement new analytical techniques.
A career as a business analyst is linked to information technology since you rely on IT professionals' statistical expertise to analyse data and draw conclusions. You can work in various business sectors, from IT to manufacturing and retail. Many industries rely on your expertise to expand their production and boost efficiency. A business analyst has the analytical skills and creative thinking to develop solutions for a range of business problems.
Would working as a business analyst suit your analytical skills and creativity? Then read on to find out what competencies and qualifications you need to thrive in a business analyst role.
view jobsaverage salary of a business analyst
According to Glassdoor, the national average salary for a Business Analyst is ₹8,00,000 in India. While many business analysts are not permanent or full-time employees, some companies offer benefits and allowances. You may also be eligible for year-end bonuses and overtime pay for working extra hours.
how to increase your business analyst salary
A business analyst role is an entry-level position, but your income increases as you gain experience and expertise. Your educational qualifications will determine your pay bracket. Apart from the mandatory bachelor's degree for the graduate programme, you can improve your salary with postgraduate qualifications or certifications. Having prior experience in related roles also boosts your earnings. Some locations are better for business analysts. For instance, working in Mumbai guarantees higher pay due to the high cost of living and increased demand for analysts.
types of business analysts
Business analysts perform varying functions across industry sectors. Some typical roles include the following:
- it business analysts: as an IT business analyst, your focus is on the technical aspects of an organisation. You analyse the use of IT resources in business processes and recommend ways to improve them for better efficiency. You also identify a business's IT needs and create strategies to improve software integration.
- data business analyst: a business analyst can focus on business data analysis and become part of the team that develops ways to collect and analyse data for better interpretation.
- business systems analyst: as a business systems analyst, you gather and analyse data from the various systems used by the business. You also provide recommendations for areas of improvement.
working as a business analyst
As a business analyst, you work with managers and company leaders to solve problems or develop efficiency strategies. Your solutions may include developing new products or introducing computer programmes.
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duties and responsibilities
The specific role of a business analyst depends on the employer, but typical duties include:
- analysing data: your primary role is to evaluate internal company data and identify inefficiencies in business models. As a business analyst, you are familiar with the statistical tools that help you compile information for easy interpretation. When you identify the factors affecting the current business models, you recommend solutions to improve performance.
- researching and documenting information: as a business analyst, your aim is to understand every aspect of the company's production process. That means you gather information from various departments to help you evaluate processes for cost and efficiency. Some of the information you collect includes sales revenue, expenses, debts and employee schedules.
- acting as a liaison between stakeholders and management: you are responsible for liaising with various stakeholders during the development and implementation of new business models. You explain the business requirements to multiple departments to improve efficiency and promote organisational goals.
- forecasting market trends: you stay updated on market trends and predict the impact of implementing new business models. For example, changes in the price of a significant raw material can slow down production and double expenses. Your recommendations factor in fluctuations in industry trends.
- designing new business models: you may be tasked with designing a completely new business model. Designing a business model requires analysis of the current systems and technologies. If the current systems can perform better with a few minor changes, you suggest upgrading them.
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work environment
A business analyst can work in any industry, from technology companies to financial institutions and government agencies. Some business analysts work in-house for a particular company, while others work in consultancy firms that serve many organisations. Typically, your work setting is in an office; you work on computers and collaborate with different departments.
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who are your colleagues?
As a business analyst, you work in various industries. That means you will have diverse colleagues, including data analysts, data scientists, systems administrators and accountants. You may also work in close proximity to operations managers, business analysts, and IT managers, as well as other specialists, including project managers, production managers and human resources managers.
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work schedule
As a business analyst, your work schedule varies depending on your employment terms. If you are employed full-time, you work 40 hours a week, from 9 am to 5 pm on weekdays. You may work overtime regularly in the evenings. You also occasionally work weekends. In part-time roles or short-term contracts, you work half a day, in the mornings or afternoons. Sometimes, you travel to meet clients in off-site locations or attend company events.
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job outlook
Business analysts have career opportunities in various business sectors. A business analyst can become a junior business analyst and progress to senior levels. Business analysts may also specialise in business intelligence analysis, data analysis or IT business analyst roles. When you gain a few years of experience and expertise, you can move to managerial positions or become a consultant.
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advantages of finding a business analyst job through randstad
Finding your business analyst job through Randstad provides important advantages such as:
- a wide variety of training and development opportunities
- an experienced contact person to provide help if needed
- a range of opportunities in your area
- get paid on a monthly basis
- temporary and permanent contracts
Want a permanent contract? A temporary job as a business analyst is often a stepping stone to an attractive permanent job. Every year, thousands of people earn a permanent contract with great employers, thanks to a temporary job found through Randstad.
education and skills
You can become a business analyst via the following routes:
- university: any degree that teaches analytical skills can help you start your career as a business analyst. However, most employers look for graduates in business management, business information systems or computer science. After your undergraduate training, consider an internship or join a work placement programme to improve your skills. Postgraduate studies enhance your career and help with promotions.
- apprenticeship: complete a business analyst higher apprenticeship or project management degree apprenticeship to become a business analyst.
skills and competencies
The following skills will help you excel as a business analyst:
- problem-solving skills: your main role is to identify the practices in business strategies that don't perform to their full potential. You evaluate the problems and formulate practical solutions. That means you have the creative problem-solving skills to make substantial contributions during consultation sessions.
- communication skills: a business analyst translates ideas, data and findings from technical language to simple language that stakeholders understand. Exceptional communication skills also help you liaise with stakeholders to identify business requirements.
- analytical skills: you possess the analytical skills to evaluate large amounts of data and develop ideas to fix problems.
- computer skills: as a business analyst, you have the computing skills and knowledge to help you understand how technical systems work. You also understand how to use computerised statistical methods to analyse data.
FAQs about working as a business analyst
FAQs about working as a business analyst:
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what does a business analyst do?
A business analyst evaluates business processes and work models to determine inefficiencies that require improvement. You also analyse company data and provide recommendations to improve performance and productivity.
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is business analyst a high-paying job?
Working as a business analyst is a promising career with an attractive salary. You can boost your salary by increasing your experience and skills.
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how much does a business analyst make?
When starting your career as a business analyst, your salary is ₹2,00,000 annually. As you gain experience, your compensation package increases to ₹4,00,000 and rises over time to ₹7,00,000 per year.
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is business analyst a good career?
Business analysts help companies grow and achieve their goals. They also improve efficiency and reduce wastage in production.
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is business analyst an IT job?
While the work of a business analyst is closely related to IT, it is not an IT job unless you choose to specialise in information technology.
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how do I apply for a business analyst vacancy?
Applying for a business analyst job is easy: create a Randstad profile and search our job offers for vacancies in your area. Then simply send us your CV and cover letter. Need help with your application? Check out all our job search tips here!
