How can I pursue a Career in Business Analytics in 2023?

Surprisingly, of all the data that is gathered, 99.5% of that data never gets used or analysed. So much potential wasted! This is why business analysts are in huge demand. Businesses are trying to harness big data’s full power to increase their operating margins and business analysts are the force behind data-fication of information. They are the fix-it men and women of the corporate world. Their job is to work with unstructured data and convert it into a meaningful interpretation that helps in making better management decisions. Today, a career in business analytics offers loads of lucrative benefits including high salaries, job security, and a plethora of career opportunities. Studying business analytics courses is the smartest move you could make in 2023.

The Three-step Process to Launch a Business Analyst Career

Step 1: Kick-start a Business Analytics Career By Taking Online Courses for Business Analyst

Beyond your bachelor’s degree in business, you’ll want to learn some practical applications on popular tools like Python, R, MS Excel, Minitab etc. Different business analyst roles require a different level of technical proficiency, all of which can be gained through online courses for business analysts.

Step 2: Gain work experience

You can gain work experience in a volunteer or intern role with a small enterprise first, or take advantage of summer internship opportunities. If you are already working with a company in a different role, offer to work on business analytic projects. There are many transferable skills you can be working on, as the role of a business analyst is vast. You can also enter the field either with knowledge of specific business domain gained from business analytics courses or with knowledge in an industry such as finance, telecommunications, etc. Once you are hired as an entry-level business analyst, make sure to gain experience across different domains and projects; later, you can also specialize in the industry or domain you are interested in. But to reach that level where you can choose the field of your choosing, you need a solid combination of knowledge, practical skills, and experience.

Step 3: Earn an Advanced Certification in Business Analytics

Most universities offer advanced online courses for business analysts on accredited online platforms like Talentedge, Udemy, and EdEx. These certifications generally include courses in business data analytics, operations research, project management, predictive analysis, etc. For those with advanced knowledge of business analytics, the scope of opportunities takes new heights. Also Read: How to Initiate a Career in Business Analytics in 2023?

The Business Analyst Job Outlook

Recent advances in technology and big data mean a rise in the demand for business analysts. Thus, business analysts must continue to upskill and enhance their knowledge by taking online courses for business analysts to stay abreast of technological advances. And though employers don’t expect deep knowledge of tools, a basic understanding of R and SAS can give you an edge over other candidates. Good knowledge in the domain area and hands-on understanding of analytical tools, as well as exposure to database management, can lead to a promising career in business analytics.

Online Business Management Certification Courses

Business analysis and business analyst

Business analysis is a specific and concentrated part of data science. Instead of only combing through various data, business analytics involves locating important points that can be used to enhance business organizations. The goal of the organization is connected to the trends and patterns that the data reveals. No wonder a business analyst is known as the connecting link between information technology and business. On the able shoulders of a business analyst lies the responsibility of understanding an organization’s changing requirements and providing technological solutions for the improvement of systems and processes.

What is the business analysts’ job role?

To increase the efficiency of an organization, business analysts scan sets of data. This makes them co-ordinators between different departments of the organization, stakeholders and clients. They are involved in strategic analysis, systems analysis, business model analysis, and process design analysis. Their job role revolves around gathering research, presenting solutions, and implementing solutions. A business analyst is required to:

Communicate with stakeholders & colleagues
Analyze and model data
Suggest solutions for operational changes after studying risks
Streamline processes to implement these changes
Present reports, conduct surveys, and workshops
Support and communicate with staff and senior management

Also Read: Why You Should Become Business Analyst?

Skills required to become a business analyst

Technical skills Business analysts use various technical tools for data crunching, diagramming, wireframing. Knowledge of computer programming, big data mining techniques, database management, and systems engineering are essential.
Communication skills Strong spoken and written skills are required to do justice to the job role of a business analyst. Communication with stakeholders, customers, and staff must be very clear and crisp.
Business acumen and strategic thinking A sharp intellect and the ability to focus on the many facets of business with the organization’s growth as the ultimate are skills that a business analyst must possess.

Steps to start a career in business analytics:

Arm yourself with a bachelors’ degree in business administration, finance, accounting. Additional computer skills would help deal with the different levels of technical proficiency that a business analyst has to deal with. Gain work experience with a small company initially. A summer internship would help. Working professionals can volunteer for projects that are normally undertaken by data analysts. This would give them hands-on experience even if they are working in a different role in the organization. An entry-level hire will allow you to gain experience across several different projects. This will enable you to select the industry or domain of your choice. Acquire an advanced certification or a master’s degree.

Business Analyst Certification Programs

There are many IIBA-endorsed business analysis certification programs & business analyst courses online available. These programs help to gain in-depth exposure to business analysis techniques and frameworks as prescribed by the latest BABOK 3.0 (Business Analysis Body of Knowledge). They offer comprehensive coverage of important business analysis topics such as requirements elicitation, enterprise management, solution design, validation and stakeholder management, etc. The International Institute of Business Analysis (IIBA) has also recognised the Certified Business Analysis Professional (CBAP) as a professional certification. Business analysts must keep abreast of technological developments. More Information: Best Jobs in Supply Chain Management Best High-Paying Jobs In Supply Chain Management How to Become a Successful Business Analyst in India? Digital Marketing Vs Business Analytics: Find The Best Career How to grow your career in Human Resource Management in 2022? What are the Career Opportunities in Operations and Supply Chain Management?

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How can I pursue a Career in Business Analytics in 2023?