Pursuing any new career can be both exhilarating and challenging. You may be wondering if a career in business analysis is the next best step for you. Well, consider this: If you’re a natural problem-solver and strategizer and enjoy collaboration and storytelling, a business analyst career may be the perfect vocation for you to pursue. Although serving many functions within an organization, the main purpose of a business analyst is to leverage analytical skills to help organizations “improve efficiency, reduce costs, increase revenue, and meet their organizational goals.” Essentially, you can think of a business analyst’s role as the bridge between business needs and technology solutions.
Business analysis is a highly in-demand skill, whether you’re just starting out on your professional journey or transitioning from another field. The emphasis on the growing demand for certified business analysis professionals is largely due to the growth of Machine Learning algorithms and Artificial Intelligence (AI). With ongoing cybersecurity threats and increased potential for data breaches, data-driven decision-making and business intelligence are crucial skills to have on any team. As you can imagine, business analysts are especially helpful in the Banking, Financial Services, and Insurance industries (or BFSI).
The employment of management analysts (or business analysts) “is projected to grow 11 percent from 2023 to 2033,” according to the U.S. Bureau of Labor Statistics (BLS). The same report states that there will be an average of 95,700 openings for business and management analyst jobs each year until 2033.
Roles and Responsibilities of a Business Analyst
Business analysts play a pivotal role in managing and interpreting data. From gathering and synthesizing information to documenting findings and presenting actionable reports, their work spans across industries and organizational needs. Most business analyst positions typically involve the following key duties:
Business Analysis and Problem-Solving: Business analysts excel in identifying operational challenges and implementing strategies to enhance processes. By streamlining workflows and resolving inefficiencies, they make data-driven decisions to solve business-wide problems.
Data Analysis and Insights: Through tools like ArcGIS Business Analyst, Microsoft Excel, and Tableau, business analysts delve into data analytics to extract insights that drive profitability and growth. Their expertise in segmentation and visualization enables them to recommend impactful strategies for business needs.
Project and Process Management: Documenting and improving business processes to align with organizational goals. Oftentimes, business intelligence analysts will partner with project managers to ensure successful project delivery while also ensuring key performance indicators (KPIs) are met on a consistent basis.
Stakeholder Engagement: Effective communication is essential for business analysts as they engage with diverse stakeholders. Storytelling skills are crucial in presenting ideas and findings in a compelling way. They also facilitate discussions with cross-functional teams, including management consultants and product managers, to design solutions that meet business requirements.
Professional Development: Staying current with industry trends and practices is vital for any tech professional — especially business analysts. Obtaining certifications like the Certified Business Analysis Professional (CBAP®) and studying the BABOK® Guide are excellent ways to enhance their expertise and credibility.
To support aspiring business analysts, we offer a comprehensive Business Analytics Certificate Course, in partnership with Ziplines Education. This flexible, on-demand program allows learners to develop a robust Business Analytics Playbook within 10 weeks, showcasing their proficiency in areas like data modeling, SQL, data visualization, and KPI development. Guided by expert-led mentors, students gain hands-on experience working with real-world scenarios, equipping them for entry-level business analyst roles and beyond.
Daily Tasks of a Business Analyst
A typical workday for a business analyst may vary based on business needs and projects; however, you can expect the following tasks to fill your days as a business analyst:
Identifying Business Needs: Most business analysts start their day off in meetings. These meetings may include many different departments of the company. Business analysts are essentially conducting interviews to get a sense of what each team’s most pressing challenges are and how that may relate to the overarching business needs.
Collecting and Analyzing Data: Collecting and analyzing data is one of the foundational responsibilities of a business analyst. As Noble Desktop so succinctly puts it, “Data analysis is a significant part of a Business Analyst’s role, as they must spot patterns or trends in the data, articulate the problem, and propose applicable solutions.”
Interpreting Data: Business analysts are responsible for using data to tell clear and concise stories. In order to tell a story, they need to isolate patterns and trends to provide context for the data. They do this by utilizing segmentation tools to display local, national, and international trends. This pertinent data provides implications on ways to improve overall performance and efficiency.
Collaborating with Cross-functional Teams: An organization is only as strong as the sum of its parts. Because of this, it is essential for business analysts to be strong collaborators — planning meetings, brainstorming, and working alongside marketing teams, project managers, product teams, engineers, and more. It’s imperative that business analysts work with different teams and departments, as their responsibility is to search for potential business issues within the entire organization and present solutions.
Documenting Processes and Creating Reports: In order to provide context for cross-functional teams and stakeholders, business analysts are responsible for documenting processes and creating reports. Documenting processes helps all stakeholders understand what went right and ways to duplicate the process in the future — along with areas warranting improvement. Creating reports is also vital to a business analyst, as this provides clear insights into key trends and potential areas for improvement.
Presenting Findings: With all that work interpreting and identifying key data trends, business analysts need to be able to visually tell the story to stakeholders – internally and externally. They do this through reports and charts, showing a visual representation of important information in an accessible way (leaving out the technical jargon).
As with any profession, there is a lot of flexibility in professional responsibilities for business analysts based on seniority — ranging from junior business analysts to senior analysts and management analysts.
Job Outlook and Career Path
Career Growth Opportunities
There are many pathways to becoming a business analyst or management consultant. Typically, the trajectory of a successful senior business analyst starts with a job as a junior business analyst. Once the junior business analyst develops hard skills and refines their soft skills, they will continue on to become a business analyst. After a few years of taking on larger projects, it’s possible to move up to a senior business analyst, business architect, or management consultant role.
Skills and Certifications
Since business analytics is a highly technical field, it’s imperative to develop analytical skills (e.g., problem-solving, decision-making, critical thinking) when first starting out. Not only that, but having a solid understanding of business administration will help you succeed in a business analyst role. The best way to make informed business decisions around data is by familiarizing yourself with the practical aspects of how businesses operate.
In addition to skills, obtaining certifications in Tableau and CBAP® will help validate expertise and credibility in the field. Not only does this leverage marketability and competitiveness in the job market, but it also supports continuous commitment to excellence and devotion to the craft.
By enrolling in our Business Analytics Certificate Course, you’ll not only gain real-world experience in data modeling, SQL, and Artificial Intelligence (AI), but you’ll also earn a certificate of completion in data analytics. Plus, once you’ve completed the program, you’ll be fluent in Tableau and prepared to take the Tableau Desktop Specialist Certification Exam.
Diverse Career Options
Obtaining a certificate in business analytics can open up many potential career paths. Here are a few roles that you can explore:
- Data Engineer
- Data Scientist
- Data Analyst
- Project Manager
- Business Architect
Business Analyst Salary and Job Market
The demand for business analysts is outpacing the national job growth average by an impressive 4-6%. As reported by Market Research Future, “the market size for business analytics was valued at USD 43.25 Billion in 2023.” With the rapid expansion of AI and Machine Learning technologies, business analysts are becoming indispensable for helping companies achieve their objectives. By blending expertise in business operations and data analytics, these professionals are poised to drive substantial growth as organizations adapt to the ever-growing American economy.
Business analysts in the U.S. make an average of $85,000 annually. That’s a whopping $26,000 more than the average salary in the U.S., according to Fidelity. Plus, if you go on to climb the professional ladder and acquire larger roles, like senior business analyst, senior data analyst, director of analytics, or even chief information officer (CIO), you’ll be looking at a significant pay bump as you refine your skills and take on more leadership opportunities.
Developing an understanding of your local job market and professional landscape is crucial for advancing your business analyst career. Across the United States, some of the largest employers for business analysts operate within industries like financial services, banking, insurance, and healthcare. By intentionally pursuing roles in one of these sectors, you can refine your skills and position yourself as a knowledgeable specialist in a specific field. The more you hone your niche expertise, the greater your potential to command a higher salary, secure advanced responsibilities, and enjoy a more fulfilling career path.
In Conclusion
A career in business analytics is nothing short of exciting, rewarding, and dynamic. Through decision-making, collaboration, and storytelling, you’ll be able to efficiently and strategically propel your company’s mission forward. It’s an extremely crucial time to get into the world of business analytics. With companies steadily investing in AI, Machine Learning, cybersecurity, and data protection, getting a certification in business analytics offers a highly competitive edge in our modern job market.
If you’re interested in how to become a business analyst, jumpstart your journey by enrolling in our Business Analytics Certificate Course, in partnership with Ziplines Education. You’ll build a Business Analytics Playbook to present to future employers — showing off your skills in problem-solving, data modeling, accessing data with SQL, data visualization, KPI development, and more. Starting a new career path demands a lot of research, a bit of courage, and a can-do attitude. Build the career of your dreams today with a certificate in business analytics.
