The Career Path of a Business Analyst

Before delving into the career path of a business analyst, let us first understand two primary aspects – Who is a business analyst? And, what does a business analyst do? A business analyst is hired to assess and improve a company’s overall output. Their role involves assisting a firm in reaching its objectives, improving its processes, increasing effectiveness and efficiency at every level and in every department. A business analyst is responsible for researching, analyzing, and assessing a business’ functional and technical requirements. They analyze large data sets using tools such as Microsoft Office Suite, Google Docs, Trello, SmartDraw, Wrike and VersionOne, while also merging visualizations and graphics to make their solutions accessible to others in the company. They also aid a company’s decision-making process by supporting them in making the appropriate choices in the future.

The role of a business analyst necessitates a great deal of attention to detail and accuracy. Without a high level of competency in either one, results can very easily be affected and be inaccurate. So, it is essential to be able to imbibe those skills in order to become a successful business analyst.

Is being a data analyst a good career?

If you are looking at a statistical view to see if being a data analyst is a good career for you then it is an incredibly rewarding and lucrative career with high job satisfaction. Here are a few relevant data points that give you a glimpse of a career as a business analyst:

• A management analyst is one of the fastest-growing, highest-paying positions in business with projected growth greater than 14% from 2018 to 2028 leading to 118,300 new positions. General managers will also be in high demand with over 150,000 new positions by 2024 at an annual pay of $97,270.
• 53% of corporate respondents say they are redesigning competency requirements to include skills such as analytics and artificial intelligence.
• 68% of corporate respondents state they are developing new strategies to attract, recruit and retain workers in analytics related positions.
• Hiring projections for the Master of Data Analytics degree increased 40% compared to last year, the highest increase among other business master’s programs.
• The demand for Business Analytics professionals is unprecedented, and it is only growing. With greater need, the salary is naturally high. According to a study by IBM, 39% of job postings in Data Science and Advanced Analytics require applicants to possess at least a master’s degree.

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