The straightforward answer to this question is a big YES!!
As Businesses increasingly realise the importance of Business Analysis, the demand for Business Analysts is skyrocketing. The outlook for a career in Business Analysts is outstanding, thereby increasing the demand for BAs.
Companies in healthcare and pharmaceuticals, business consultancy, finance, information technology, government agencies, and many others. Moreover, the professionals who possess business analyst certification, especially the ones awarded by IIBA, boast of enhanced employability and marketability along with huge earning potential. This is why business analyst course online has gained much hype among Business Analysts across the globe.
Another driving force for the increasing demand for Business Analysts is the need for digital transformation, which is taking place at an astounding rate. Moreover, some technologies, such as Artificial Intelligence and Machine Learning, are disrupting the market, making it more crucial for organisations to hire business analysts than ever.
Let us have an overview of the Business Analyst job description and reasons for becoming one.
Who is a Business Analyst?
To understand who is a Business Analyst, you should first understand what business analysis actually means.
Business Analysis is the practice of introducing change in an organization or business by identifying requirements and putting forward solutions that are meant to deliver value to stakeholders. Business Analysis allows an organization to articulate requirements and the logic for change and also to plan and build solutions that can deliver value.
So, who is a Business Analyst?
A Business Analyst is a professional who is accountable for bridging the gap between IT and business by driving an enterprise toward profitability and efficiency. As a Business Analyst, you are mainly responsible for planning and controlling, defining and elaborating requirements, and also collaborating with concerned stakeholders to meet business requirements.
Why Become a Business Analyst?
Some of the top reasons for becoming a Business Analyst are listed below.
- In this era of digital disruption, organizations are increasingly looking to business analysts for advice on best practices and cutting-edge technologies to help them become more data-focused, agile, and competitive. As a result, demand for business analysts in a range of developing jobs is drastically increasing. The need for business analysts is anticipated to expand by 14 percent by 2024, which is the highest average percentage among growing professions, according to the US Bureau of Labor Statistics.
- Over 70% of organizations are going through digital transformation and are making strategies for the same. This is fueling the demand for trained and certified business analysts.
- One of the most important reasons for choosing Business Analysis as your career is that it provides you with a plethora of opportunities for advancement along with financial security. Most of all, this role is a lucrative and rewarding one.
- The jobs in Business Analysis are projected to rise a whopping 11% faster than the average for all other roles between the forecast period of ten years from 2019 and 2029. A Business Analyst certification, when awarded by IIBA (International Institute of Business Analysis) enables you to equip all the skills and knowledge required to become a Business Analyst and advance your career in this domain.
- Business analysts have a number of options for expanding their professional paths because there are many outstanding job opportunities. Business Analyst Manager, Data Business Analyst, Information Security Analyst, Data Analysis Scientist, Quantitative Analyst, and IT Business Analyst are the six most common job paths for business analysts.
- You can choose to work in the industry of your choice if you become a Business Analyst, including government agencies as well as non-profit organizations. Did you know that almost every industry can gain benefits from business analyst expertise?
The largest share is constituted by the IT and management consulting firms. As a Business Analyst, you can find numerous prospects in industries including finance, accounting, market research, investment banking, and many more.
- No matter the layout, size, or volume, every company aims to hire highly trained personnel with advanced business analytical skills. Some of the biggest names hiring Business Analysts include IBM, TCS, Deloitte, Wipro, and Accenture.
- While choosing or advancing a career in any domain, your primary matter of concern is the salary, isn’t it?
The good news is that a career in Business Analysis offers huge salaries. According to Glassdoor, the average annual salary of a Business Analyst in the US is around USD 68,346. The salary increases with your experience, certifications, skills, knowledge, as well as location. In the US, the salary of a Senior Business Analyst is around USD 90,000.
Business Analyst Job Description
Basically, a Business Analyst is a professional who determines organizational goals, build smart solutions with best practices for collecting the data, and analyzes existing processes such that they can be enhanced to meet the goals and achieve the greatest benefits.
The main role of a Business Analyst is to introduce changes in an organization that result in improved productivity, efficiency, and eventually the ROIs. These solutions often result in enhanced process optimization, overall efficiency, cost minimization, and finding beneficial business opportunities.
This is why BAs are referred to as ‘agents of change’ by IIBA.
All this is accomplished with the help of data analysis and conducting research on various factors that affect business goals, budgeting, and forecasting to predict data-driven solutions. These solutions are then optimized and implemented using various business analysis tools and techniques.
The skills you need to possess as a Business Analyst include:
- Data Analysis Skills
- Teamwork
- Problem-Solving Skills
- Knowledge of Business Analysis Process
- Report Making
- Communication Skills
Conclusion
By now, it is clear that Business Analysts are largely in demand across the globe in almost every industry. To acquire the skills and knowledge regarding Business Analysis, Simplilearn can prove to be a one-stop solution that provides best-in-class training delivered by industry experts. It lets you choose from different learning methods and also provides you with career guidance at the end. With round-the-clock learning assistance and career mentorship sessions, this course is worth your investment of time and money.
Enroll Yourself Now!!