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CAREER PROFILE

Business Analyst

What is a Business Analyst ?

Business analysts (also known as BAs) assist in defining business challenges by in-depth examination and gathering technical and non-technical information. They create comprehensive solution requirements and ensure the supplied solution fits those business needs once the issue is recognised correctly. They are typically hired to work on IT and business transformation initiatives, although they can also be assigned to projects in other areas.

BAs are typically hired from the start of a project and serve as advisors to senior management and executive teams. BAs help bridge the gap between IT and the rest of the organisation, and many Business Analysts work as contractors on specialised projects. ​

Business Analysts can be categorized as Technical Business Analysts, Business Systems Analysts, or Process Business Analysts, depending on the extent of their duties and responsibilities.

Here, we’ll look at what the work entails, as well as the skills and qualifications required. We will also look at the salary structure as well as the best colleges and courses to pursue a career as a Business Analyst.

 

What Are The Roles & Responsibilities of A Business Analyst ?

BAs are in charge of developing and implementing new models to support business decisions by collaborating closely with financial reporting, and IT teams to frame initiatives and strategies to improve importing and reduce costs. However, there are some commonalities across roles:​

  • Identifying, validating, and documenting business requirements
  • Commercial data analysis, such as budgets, sales performance, and forecasts
  • Modelling business processes and identifying process improvement opportunities
  • Identifying difficulties, risks, and benefits of current and proposed solutions, as well as detailing business implications
  • Estimating expenditures and discovering opportunities for company savings
  • Simplifying material and interpreting technical jargon so that everyone on the team can quickly grasp it.
  • Solution implementation and testing
  • Assisting with business transition and change implementation.

 

What are the skills required to become a Business Analyst ?

Technical Skills

Microsoft Office
Microsoft Visio
SQL Queries
Data Visualization
Processes Modeling
Stakeholder Analysis
Costs Benefit Analysis
Understanding of Networks, Databases and other Technology
Knowledge of Business Structure
Financial Planning
Data Review/Statistical Analysis

Soft Skills

Communication Skills
Quick Learner
Interpersonal and Consultative Skills
Analytical Thinking
Problem Solving
Organizational Skills
Attention to Detail
Decision Making
Negotiation

Education

Class 12th from any stream
Bachelor's degree in business or related fields
MBA

Specializations

Statistics
Finance and Economics
Data Analysis skills
Information Management

What Are The Steps To Become A Business Analyst?

Salary of Senior Business Analyst

The average salary of a Professional business analyst in India is Rs. 45,000/- per month.

Salary based upon your experience

0 – 2 years, 4 to 5 lacs per annum
2 – 5 years, 5 to 7 lacs per annum
5+ years, 8 to 15 lacs per annum

In addition,

Annual Bonus (25% of respondents receive): Rs. 70,000/year

Sign-on Bonus ( 5% of respondents receive): Rs. 1,00,000

Factors that can affect your salary:

Your total experience
Content writing skills you possess
Job location
Type of company
Job responsibilities

FAQ

What is the Business Analysis?
It is used to identify and articulate the need for change in how organisations work and to facilitate that change.
Which subject is more beneficial for a Business Analyst?
Economics.
What are the tools that a Business Analyst do?
They mostly use – 1) MS Visio 2) MS Word 3) MS Excel 4) PowerPoint 5) MS Project.
What is Benchmarking?
It is the process of measuring the quality of an organisation’s policies, programs, products, rules, and other measures against the standard measures or the other companies. Benchmarking is applied to measure the performance of a company to compete in the industry. Its primary purpose is to find out the areas of improvement in a company and analyse how the other organisations achieve their goals.
What is SaaS?
SaaS stands for Software as a Service.
What is CaaS?
CaaS stands for Communication as a Service.

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