How to Become a Business Analyst? We’ve Got the Answers!
Do you want to know how to become a business analyst, but are not sure where to start? With the growing demand for skilled analysts in the business world, it’s no surprise that many are looking to enter this field. However, the path to becoming a successful business analyst may not always be clear.
In today’s rapidly changing business environment, companies constantly need to adapt. Business analysts are the crucial link between understanding the problems a business faces and designing solutions that will address those problems.
If you are considering a career as a business analyst, it’s important to understand the necessary steps to achieve your goal. From acquiring the right skills and education to gaining relevant experience, there are key factors to consider when embarking on this career path. In this blog, we will delve into the essential steps and some easy tips so that you can become a business analyst in 2024.
Let’s start with understanding the basic part of who these professionals are.
What is a Business Analyst?
A business analyst (BA) is a professional who examines an organization’s structure, processes, technology, and goals. Their role is to identify opportunities for improvement and work with stakeholders to implement solutions that help the business become more efficient, effective, and profitable.
They play a crucial role in helping organizations operate more efficiently and effectively. They are in high demand across various industries, and the job outlook for this profession is expected to remain positive in the coming years.
Steps to Become a Business Analyst
Here’s a breakdown of the roadmap you must follow, to become a Business Analyst:
i. Education:
- Formal Education: While not always mandatory, a bachelor’s degree in a relevant field like business administration, finance, economics, information technology, or related disciplines is usually the standard first step.
- Alternative Approaches: If you already have a degree in a different field, consider online business analysis courses, boot camps, or certifications that equip you with business analysis fundamentals. These can help you transition into the field without needing a full degree.
ii. Develop Core Skills:
- Analytical Skills: Enhance your ability to analyze data, identify trends, and make informed decisions.
- Process Mapping: Understanding how businesses operate and being able to map out processes visually is a valuable skill for BAs.
- Communication Skills: Develop strong verbal and written communication skills to convey complex information clearly.
- Problem-Solving Skills: Learn to approach problems systematically and find effective solutions.
iii. Build Technical Skills:
- Data Analysis Tools: Familiarize yourself with data analysis tools commonly used in business analysis, such as Microsoft Excel, SQL, and data visualization tools.
- Business Analysis Software: Learn to use specific business analysis software like Jira, Confluence, or others depending on industry standards.
- Data visualization tools: Having a basic knowledge of popular BI platforms like Tableau or Power BI can be beneficial, as these tools are often used to create dashboards and reports that summarize key metrics and performance indicators for businesses.
- Understanding of relational databases: Familiarity with how data is stored and organized in relational databases like MySQL or Microsoft SQL Server is crucial.
- SQL proficiency: Learning SQL (Structured Query Language) allows you to write queries to retrieve specific data from databases, analyze trends, and generate reports. This skill is highly valued by employers and can significantly enhance your ability to work with data independently.
iv. Gain Relevant Experience:
- Internships: Look for internships in business analysis or related fields to gain practical experience and build your resume.
- Entry-Level Roles: Consider entry-level positions like data analyst, associate business analyst, business support specialist or remote business analyst jobs. These roles can provide valuable on-the-job learning and help you develop your skill set.
v. Networking:
- Professional events: Attend industry conferences, seminars, and networking events to connect with professionals in the field.
- Online forums: Join online forums, LinkedIn groups, and communities related to business analysis to stay updated on industry trends and opportunities.
vi. Further Education:
- Advanced degree: This is purely optional, but you can consider pursuing advanced degrees or specialized courses in business analysis, project management, or related fields. Some opt for Master’s in Business Administration (MBA) programs.
vii. Resume & Interviews:
- Build a strong resume: Highlight your education, relevant skills, certifications, and practical experience on your resume. Better to tailor your resume for each job application, emphasizing the skills and experience that match the specific requirements of the position.
- Prepare for the interview: Be ready to discuss your experiences, problem-solving abilities, and how your skills align with the business analyst role. Familiarize yourself with common business analyst interview questions.
viii. Continuous Learning:
Here are some online business analyst certification course recommendations that can help you learn and hone your skills:
- Business Analytics Nanodegree Program by Udacity is a well-regarded option for individuals seeking to enter the field of business analytics. It covers essential topics like data analysis, SQL for data manipulation, and data visualization using Tableau.
- Business Analyst Fundamentals for Beginners by Skill-Lync is a great course for fundamental understanding. You learn how projects work and how to liaise with stakeholders and departments.
- PG Program in Business Analytics in Collaboration with IBM by DataTrained is an instructor-paced course that has a duration of five months. Not only it helps in practical learning but also offers job assistance as well.
- Advanced Business Analytics Specialization by Coursera is offered in collaboration with the University of Colorado Boulder. It is a well-regarded program designed to equip learners with advanced skills in data analysis, modeling, and optimization for business decision-making.
- Business Analytics for Data-Driven Decision Making by edX is offered in collaboration with Boston University. The course emphasizes the practical application of business analytics, not just the technical aspects of data analysis.
ix. Build a Portfolio:
- Create a portfolio showcasing your projects, analyses, and any relevant work you’ve done. This can be particularly beneficial if you have practical examples to demonstrate your skills.
Remember that the path to becoming a business analyst may vary based on your background and industry.
What does a Business Analyst do?
Some of the common responsibilities mentioned in the business analyst job description are as follows:
- Eliciting and Documenting Requirements: BA’s work closely with stakeholders (business users, project managers, developers) to understand their needs, challenges, and desired outcomes. They turn these needs into detailed requirements that serve as the backbone of any project.
- Data Analysis: BA’s are adept at using data to understand trends, identify problem areas, and evaluate potential solutions. They use tools like SQL and Excel to manage and interpret complex data sets.
- Process Mapping and Improvement: BA’s analyze how a business works by creating visual representations of its processes. They identify bottlenecks, inefficiencies, and areas where automation or streamlining can make a positive impact.
- Solution Design: BA’s contribute to the design of solutions, whether those are software systems, changes in business processes, or even organizational restructuring. They ensure solutions align with the business needs.
- Communication and Collaboration: A large part of a BA’s role is to be a bridge between the business side and technical teams. They translate complex ideas into clear language that everyone can understand.
How much does a Business Analyst Make?
The salary offered to business analysts depends on several factors such as work experience, industry, company, location etc. However, to get the right salary when applying for such jobs, it is important to know about industry standards. Thus, to give you an estimate, here is a general overview of business analyst salary:
i. Associate Business Analyst:
- The average range of salary offered to associate business analysts in the US at entry level is $49,000 to $80,000 which can go up to $73,000 to $112,000 for more experienced professionals.
- The average annual salary offered to associate business analysts in India at entry level is ₹4,50,000.
ii. Business Analyst, IT:
- The average range of salary offered to IT business analysts in the US at entry level is $49,000 to $80,000 which can go up to $66,000 to $130,000 for more experienced professionals.
- The average annual salary offered to IT business analysts in India at entry level is ₹5,50,000 which can go up to ₹13,00,000 for experienced professionals.
iii. Lead Business Analyst:
- The average range of salary offered to lead business analysts in the US at entry level is $63,000 to $105,000, which can go up to $86,000 to $161,000 for more experienced professionals.
- The average annual salary offered to lead business analysts in India at entry level is ₹7,70,000, which can go up to ₹18,00,000 for experienced professionals.
Final Take
There are plenty of business analyst jobs that are available, you just need to have the right skills and the ability to grasp the opportunity. If you want to stand out from the competition, then you should take the help of Careervira. You get to explore all the top premium business analysis courses with the option to compare and pick the one that is right for you. So what are you waiting for? Start your learning journey now.