Career Guide: Business Analyst

What Does a Business Analyst Do?

The rapid evolution of technology advancements, artificial intelligence and digital marketing has shed light on data and its impactful applications to successful business processes and operations. Such improvements include reducing costs, improving products and services, assessing customer behavior and more.

A business analyst is a data expert who assesses how businesses perform and transforms findings into profitable solutions by collecting and analyzing data that identifies areas of growth that can be supported with technology. Their work is critical to strategic planning and empowering a company with data-driven decision-making and problem-solving.

A business analyst also serves as a liaison between departments, like information technology (IT), project management and other business teams. On a day-to-day basis, their roles and responsibilities include creating business models, identifying trends, contributing as a subject matter expert in stakeholder meetings and generating reports that clearly communicate valuable insights, data findings and what they mean.

If you’re passionate about business operations and data-driven insights, a business analyst career may be the right fit for you. This career guide is a one-stop shop for all you need to know.

Knowledge and Skills Business Analysts Need

Business analysts must stay adept with industry trends and tools used for innovative data collection, analysis and application. While new tools are constantly emerging, you can leverage foundational skills and then supplement them with continuing education as new trends emerge. Further, you can utilize online certificate programs through platforms like Google, Coursera, etc., to focus on specific skills or areas of expertise. 

To become a successful business analyst, you’ll need to be skilled in: 

• Critical thinking: When it comes to assessing business data thoroughly and objectively, you must apply critical thinking by interpreting findings and translating them into understandable and effective action items. 
• Data analysis: Accurate data and market analysis are paramount because findings identify business needs and inform decisions that lead to profitable solutions. 
• Communication: Data is not always simple to understand, so you want to be a clear communicator who empowers other departments to collaborate and participate in your work. 
• Structured query language (SQL): This is a standardized programming language used to retrieve data. Knowledge of it is essential for efficient queries, manipulations and analyzing data stored in relational databases. 
• Quality assurance (QA): You must meet certain standards of accuracy, reliability and usability when it comes to creating data-based models. Whether it’s running tests or identifying areas of growth, it’s important to ensure product quality. 

You’ll also want to have a growing knowledge of commonly used tools, including: 

• Microsoft Excel: This platform is primarily used to house spreadsheets and conduct calculations. You should have a basic understanding of how to create spreadsheets, but an advanced knowledge base will allow you to fully utilize its capabilities for effective data management. 
• Microsoft Power BI: Data analysis is often a visual concept, and this tool is a data visualization platform that intertwines data from various sources into static and interactive visuals. 
• Tableau: Organizing data is paramount to efficiency, and this business intelligence tool offers a simple, user-friendly platform for data analysis and visualization development. 

How to Become a Business Analyst

1. Earn a bachelor’s degree in general business, business management, business administration, project management, data science, data analytics or a related field. 
2. Build technical skills in areas like SQL, Excel and data visualization in an internship or as an entry-level business analyst. This is also a great time to get hands-on experience with business operations, finance and marketing. 
3. Supplement your education with business analysis certifications. You can earn an Entry Certificate in Business Analysis (ECBA) or become a Certified Business Analysis Professional (CBAP) or PMI Professional in Business Analysis (PMI-PBA). 
4. Optional: Earn a master’s degree when you’re ready to progress your career into management or leadership. to details and a commitment to continuous development – all hallmarks of effective project management.

Business Analyst Salary and Job Outlook

A business analyst’s salary often varies based on experience, location and/or industry. However, the average median salary in the United States is $101,190.¹ 

Available business analyst positions are on the rise, with a projected growth of 11% between 2023 and 2033, much faster than average.¹ There are also great opportunities to advance your career. You can start as a business analyst or business analysis specialist and progress to a senior business analyst, then business intelligence manager, and at the highest level, a chief data officer. 

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Sources 

¹Bureau of Labor Statistics