A business analyst strives for the smooth functioning of various segments of a company to boost the bottom line. To do this he assesses the requirements of the client and ensures timely delivery of services.
A business analyst is actually a liaison officer, between the management of the company and its clientele. The success of a business depends on a good understanding of the client's need and the process of being followed to meet it. Sometimes a wide gap in understanding affects sales. A business analyst has to act as a mediator between the two, so as to ensure that the best service or product is delivered to the customer.
The first and the foremost job of business analysts are to understand the client's business model and carefully analyze the client requirements through surveys, interviews, questionnaires, etc. He can also consult business records, operating manuals, business guides, and other relevant documents.
He also needs to analyze data tapped from these sources to the granular level and present it in a comprehensible form for the perception of relevant sections in the business house. In his presentations he also defines the project and scope, estimates the effort and cost, and drafts business requirements. He interacts with the technical team to ensure that the requirements are clear. He can conduct training sessions, draft new procedure manuals, and take the necessary steps to help the company achieve success in the client project.
He can bring in any outside help for the benefit of the company like a good trainer or arrange a workshop by a professional. He lastly submits a report to the management enlightening them on the measures that were endorsed as a result of his analysis to enhance proficiency and also give suggestions for more improvements.
There is no particular degree that you have to pursue to be a business analyst. All you need to be employed as a business analyst in an organization is a thorough understanding of the duties and requirements of the job. You can be a major in any subject and will be employed in the relevant industry. However a technical background can render you an edge over your competitors.
Recruiters prefer candidates with a graduate degree to work in the capacity of a business analyst. They look out for analysts with backgrounds in accounting, business management or economics to work in a financial organization while backgrounds in physics, mathematics or engineering are preferred to work in scientifically oriented bodies.
A good business analyst should be analytical in his approach as to analyze the status of the company and steps required to plug the loopholes. He should also have the gift of gab as he has to meet the clients of the company and also hold training sessions for internal employees. He should possess good comprehension skills as he will often run though documents, manuals, graphs, and charts. Prior experience is always to ones advantage as it helps to get into reputed firms and draw fat pay packages.
The requirement of a good business analyst is growing with the growth of big businesses with robust structures. They will recruit an expert business analyst to grasp their client's needs and ensure that all their departments work in tandem to it. A business analyst is one of the significant workers among the human resources in an organization as they keep the seller-customer bond unbroken through their striving. This makes them one of the most highly paid employees in any modern day organization.
An experience of 4-5 years can fetch you $65,000 approximately. There are also professional organizations that cater to the services of business analysis. They employ a whole body of business analysts and charge a fixed and handsome fee on a project basis.
The profession of a business analyst is never monotonous in nature as there is always the scope of doing something new as you deal with clients with challenging demands. It is an interesting career option, befitting those with a wide range of skills.