What are the Skills Required For Business Analyst?November 10, 2017
A business analyst’s combination of tools and techniques cover getting business intelligence solutions starting from aligning and cleaning the data, using the smartest cutting-edge technology to deliver actionable insights, and support the decision-making process of a business as a whole. A business analyst is the one person who is involved in almost all business intelligence processes like Data mining, analysis, making forecasts, report preparation and more.
Role Of Business Analyst
Business Analysts/ BA functional role involves data investigation of both external and internal clients and using research of data to make inferences, prepare project reports, and recommend business decisions. The BA is required more to make operational and management decisions which are data-based. Though investment related their decisions, forecasts etc are on the business models, workflow, technical systems involved, work processes and inter-department connections related to overall efficiency, employee productivity etc. They in short spot trends that influence the operational and management decisions.
There are no prescribed educational minimum criteria fixed. The business analyst certification curriculum itself is conducive to a bare minimum of graduation with subjects like business management, statistics, economics, finance and mathematics being necessary for the job role. However, truth be told, today it is all about data and no field is free from using their data for furthering growth, efficiency and using the latest technology. Classroom learning will be needed to effectively bolster your skills and applying them to practical situations in different verticals.
Non Technical Skills:
These are essential skills which are not classroom taught.
• Great problem-solving skills and quantitative skills.
• Good presentation skills and grasp on the use of inferential logic and an innovative approach.
• Above average reporting and data skills.
• Great communicative ability and interpersonal skills.
• Collaborative and communicative team skills.
• Business acumen.
A BA specialization course is often pursued from a reliable institute like Imarticus to hone skills in data analytics with the aim of improving business outcomes. They learn a gamut of topics like business fundamentals, finance, accounting, marketing, strategy, business forecasting, specialized applications, optimization, and statistical applications. They also learn ML where they focus on applications to business problems, developing forecasting business-outcome statistical-models, analytical methodologies and tools and more. The business analyst certification coursework is technically sophisticated and a mix of management, fundamentals, marketing, and technical programming skills.
Must-have Business Analyst Skills.
- Business Acumen:
Without business acumen, it is practically impossible to gain domain-specific knowledge to understand the industry and organization and work on the data to contribute effectively. The BA input is used through the life cycle of business intelligence and needs sound specific business knowledge, the impact of any strategy implementation, and a tactical day-to-day understanding of the business.
- Conceptual Thinking, Data Analysis and Modelling
The business analyst’s grasp on diving deep into data, extrapolating valuable insights for the business, assisting in business strategy implementation etc is possible through the ability to understand data, the use of data analysis and modeling, and the understanding of the flow of organizational data which is effectively used for decision-making purposes by the management.
- BI and Analytical Programs knowledge of software:
The BA will find exceptional knowledge in Microsoft Office and specifically in Excel an added advantage. For data modelling, you will need Visio and SharePoint when building customized input lists. Traditionally the use of MS Asses was popular though not really important today. SQL fluency and knowledge of querying languages are highly preferred.
An essential capacity to understand, analyze, and draw inferences from data which includes its formatting, data-flow, structure, and making intangible insights into tangible foresight is essential to working in the analytical space. Commercial off-the-shelf analytics software applications like Tableau, Qlik etc will also be required.
- Visualizing the larger picture using an inquisitive and detail-oriented mindset:
Ironically, a BA needs a very well-developed skill set, the ability to always see beyond the data on record, and have great discipline and patience to understand the subtle details of the finest data grain. Understanding the matrices of KPIs of the various processes with the maturity to understand business strategy, the key steps in the processes, and detailed data elements and concepts is essential in this role.
- Emotional IQ and exceptional communication:
The BA has to be concise and clear in reporting and communication, an excellent active listener with the ability to present and translate technical deep concepts and terminology effectively. His communication deals with stakeholders, team members, organizational hierarchy and others as well.
A BA needs the ability to maturely deal with face-to-face interactions, unite siloed teams, and use data effectively as arguments to arrive and have others infer common business solutions. The BA should be flexible to navigate office politics while focusing on departments aligning with business objectives.
- Documentation Skills, Stake-Holder Management, Maturity, and Self-discipline: It is part of other essential skills which deepen with experience. Analytical, Negotiating, and Problem Solving skills can be acquired through business analyst certification training and educational programs. Keep in mind, that financial analysis is a small part of the BA’s job if you work in a financial firm. On the other hand, if your company is into e-commerce, software, data warehousing, health, cloud services etc such overlapping of roles is minimal.
Requisite Skills for Business Analyst profile:
A mix of technical and non-technical skills is called for in the role. Technical skills acquired through a business analyst certification are
• The CS fundamentals
• Programming in R and Python
• Being adept with
1. The platform of Apache Spark.
3. SQL Coding of its Databases.
4. Data visualization techniques.
5. Handling of unstructured data.
6. Proficiency in ML algorithms and AI.
Proficiency in Pig, Hive, cloud tools, neural networks etc for situations involving the transfer of data, storage, sampling, summarization, filtration and exploration of data allows you to stand out from the rest.
Job Scope and payouts:
The normal analyst salary in a larger company is between 53,000 to 69,000$. You also earn commissions that are equal to the payout according to the 2017 Robert Half Accounting and Finance Salary Guide.
The Concluding note:
On a concluding note, doing a business analyst certification at Imarticus learning like the IIBA-endorsed program helps you to gain in-depth exposure to Business-Analysis, techniques, frameworks and best practices as prescribed by the latest BABOK 3.0. As a matter of ample caution, it is always advisable to research the roles you are aspiring for, the technical skills required, whether you need to acquire any skills, what would be the prospects, job scope, payouts and all the fine print that comes with a career change. Patience and perseverance will definitely bear fruit.