A business analyst monitors various business processes and checks whether these processes are running satisfactorily or whether there is potential for improvement. A business analyst is first employed independently of a specific discipline or department and acts as a link between different departments and stakeholders.
What are the tasks?
As an analyst, you are employed in various areas of a company. The aim is to identify problems in business processes, make them measurable and evaluable, and use the data to develop new concepts and improvements.
You have to communicate with a wide variety of stakeholders, such as different departments, the management, or IT. As the link between technology and sales, you try to record the requirements and convert them into a technical concept. The cost-effectiveness of the solution is of immense importance.
The main tasks are:
- Gathering and recording business requirements
- Conversion of requirements into technically feasible concepts
- Analysis and preparation of processes
- Participation in project teams consisting of representatives from business and IT
- Management of the introduction and implementation of the proposed concepts
- Mediation between technical and business departments
What industries are looking for business analysts?
Business analysts are actually needed in all industries and are used wherever there is a need to mediate between the IT department and the business. Analysts are used primarily in the logistics, finance, and insurance industries.
In addition, many other companies have recognized the power of their data and are trying to exploit it to the maximum. Thus, there are also opportunities in all areas where organizations are sitting on large amounts of data. This includes companies that operate a production line and therefore have a large amount of sensor or quality data. In the same way, however, large quantities of information can also be available in retail or e-commerce, which are to be evaluated in a targeted and goal-oriented manner.
What skills should you bring?
Several types of skills are needed to be a Business Analyst.
A central task is the development of new solutions based on data. This requires certain creativity and an understanding of business processes. In order for a solution to be found at all, the requirements must of course first be correctly recorded. Subsequently, technical skills in business intelligence tools, such as Power BI or Tableau, as well as basic knowledge of programming languages, such as Python, are required in order to be able to carry out a well-founded data analysis.
Finally, the results must be communicated in an understandable way to an audience outside the field, so good presentation skills and the creation of easy-to-understand visualizations are indispensable for the job as a business analyst.
In addition, classic soft skills such as the ability to work in a team, empathy, stress resistance, etc. are of course also an advantage for the job as an analyst. A basic understanding of economics is useful in order to be able to directly check the presented findings and solutions for their feasibility and economic viability.
Education and Studies
If you take a closer look at various job offers, you will notice that companies do not demand a specific course of study for prospective business analysts. There are various fields of study that are seen as good prerequisites for a career as an analyst. These include, for example, economic courses of study, such as economics or business administration, as well as technical courses of study, such as computer science, mathematics, or physics. Of course, mixtures of both disciplines, i.e. business informatics or business mathematics, are also ideally suited for a career as a business analyst.
Depending on the industry and company, IT-related training with several years of professional experience is also accepted for these positions. This varies depending on the job and must be differentiated in each individual case.
This is what you should take with you
- Business analysts act as an interface between the business department and IT.
- They try to analyze existing processes, present them in a comprehensible way and at the same time make suggestions for improvement.
- There are currently job openings in virtually all industries. However, business analysts are of immense importance, especially in the areas of logistics and finance.
Other Articles on the Topic of Business Analysts
- Here you can find current job offers as Business Analyst in your region.