The Career Path of a Business Analyst

Before delving into the career path of a business analyst, let us first understand two primary aspects – Who is a business analyst? And, what does a business analyst do? A business analyst is hired to assess and improve a company’s overall output. Their role involves assisting a firm in reaching its objectives, improving its processes, increasing effectiveness and efficiency at every level and in every department. A business analyst is responsible for researching, analyzing, and assessing a business’ functional and technical requirements. They analyze large data sets using tools such as Microsoft Office Suite, Google Docs, Trello, SmartDraw, Wrike and VersionOne, while also merging visualizations and graphics to make their solutions accessible to others in the company. They also aid a company’s decision-making process by supporting them in making the appropriate choices in the future.

The role of a business analyst necessitates a great deal of attention to detail and accuracy. Without a high level of competency in either one, results can very easily be affected and be inaccurate. So, it is essential to be able to imbibe those skills in order to become a successful business analyst.

Is being a data analyst a good career?

If you are looking at a statistical view to see if being a data analyst is a good career for you then it is an incredibly rewarding and lucrative career with high job satisfaction. Here are a few relevant data points that give you a glimpse of a career as a business analyst:

• A management analyst is one of the fastest-growing, highest-paying positions in business with projected growth greater than 14% from 2018 to 2028 leading to 118,300 new positions. General managers will also be in high demand with over 150,000 new positions by 2024 at an annual pay of $97,270.
• 53% of corporate respondents say they are redesigning competency requirements to include skills such as analytics and artificial intelligence.
• 68% of corporate respondents state they are developing new strategies to attract, recruit and retain workers in analytics related positions.
• Hiring projections for the Master of Data Analytics degree increased 40% compared to last year, the highest increase among other business master’s programs.
• The demand for Business Analytics professionals is unprecedented, and it is only growing. With greater need, the salary is naturally high. According to a study by IBM, 39% of job postings in Data Science and Advanced Analytics require applicants to possess at least a master’s degree.

*Source: U.S. Bureau of Labor Statistics, 2019 Deloitte Technology in the Mid-Market survey report, GMAC Corporate Recruiters Survey Report 2019.

Here is a step-by-step guide to the career path of a business analyst

Step 1: While you can become a business analyst via many different paths, having the right educational background can most definitely help start off your career strong. To embark on the career path of a business analyst, a great program is the Global Master of Science in Business Analytics (Global MS in Business Analytics) from the Richard DeVos Graduate School of Management at Northwood University. This comprehensive program will give you the tools you need to succeed at Fortune 500 companies as well as startups. Gaining your qualification from Northwood University gives you an advantage in the market and adds to your credibility as a professional also because the university has accreditations and approvals by outside education associations as well as governmental interests.

Step 2: Get as much work experience as possible. Companies will look for candidates with experience in the relevant industry, so find your interests and niche and get as much experience as possible. Once you do you can grow exponentially within a company.

Step 3: Find a mentor. Working with a mentor can be incredibly helpful to grow in your career. You will learn twice as fast and gain industry insights that you might not have otherwise. It is a great way to get started on the career path of a business analyst.

Step 4: Keep growing your skill set. Even if you have a few years of experience, do not stop learning and studying. The industry is dynamic and will keep evolving. You need to be able to keep up with the latest processes, tools and more in order to remain relevant and do your job well.

FAQs

• What is a typical job trajectory for business analysts?

Entry-level positions on the career path of a business analyst such as business analyst trainees or business analyst associates are common starting points. These positions can then mature into senior business analyst roles or business process improvement managers.

• Is being a business analyst a demanding job?

While the job itself is challenging since it involves improvement of many aspects of the company, the company’s goals, ethics and culture ultimately determine exactly how demanding the job can be.

• Is it necessary to know computer languages to be a business analyst?

Business analysts are not typically required to be fluent in programming languages. Although they are required to know tools frequently used by business analysts such as Microsoft Office Suite, IBM Rational RequisitePro, Wrike, Balsamiq, etc.