Business Analysts — Their Job and Responsibilities Regarding the Company
Business and Business analysts both are always considered dependent on each other. As you know that there is an increasing demand of professionals who can effectively devise solutions, recognize business and help it in accomplishing their goals by strategically executing the plans. These professionals are called as Business analysts, who work across several job profiles in a diversified range of industries. With IT specialists, jobs and business analyst jobs are considered as synonyms. Between the business needs and the technology employed in a company, an analyst acts as a viable link.
Today there is a wide scope of business in just about every field. By using your expertise as a business analyst, you can either opt to work with an independent firm or can work within a particular industry, such as within banking or transportation.
But the question is that what actually is a business analyst and what are his intermediary functions and responsibilities?
A business analyst performs in-depth qualitative and quantitative analysis of the business solutions and stratagem, thereby improving the performance of the company. He should be aware of the several statistical models and tools and should apply them to formulate portfolio strategies. A business analyst takes on the data challenges of the industry and organization by performing detailed analysis for the portfolio management. By understanding the weakness and strength of the company, the business analyst makes reviews and edits the requirements, recommendations and specifications accordingly.
Depending on their job profile the business analysts are entrusted with a wide array of responsibilities and duties. The main responsibilities of a business analyst are:
• For client engagement they need to develop system design specifications and functional specifications
• By following the needs and trends of the industry they conduct researches to identify dodge in the company’s strategies
• For the suggestions to be implemented, these analysis reports must be submitted at regular intervals
• He may also have to develop business models that are related to customer segmentation, business forecasting and customer modeling
• He should have the ability to understand the needs of the customers and change them into application and operational requirements
• He must have the capability of scrutinize and document the processes involved in business
• He is responsible for preparing the test scenarios
• The business analyst needs to ensure proper coordination between the development team, customers and any other party involved, throughout the development plan
Apart from these roles and responsibilities, the business analyst should have good problem-solving and analytical skills. He should have good communication skill and must coordinate with the team members and people with other departments. For a job in this field, the business analyst must have the basic knowledge of technical software and applications.
Qualification for this Job Profile:
For the profile of business analyst you must have Bachelor’s degree in Mathematics, Operational Research, Economic, Statistics, etc. To get more exposure you can study marketing, finance and pursue MBA as well. Any additional course in management will give you an edge over the others.
Apart from this, as a business analyst you must have good knowledge about technical tools like PHP, .NET, HTML etc. along with good analytical skills and also knowledge about databases such as UML and SQL.
Due to bad business practices if the company is moving towards troubled waters, a business analyst acts as its savior. Thus the job of a business analyst requires understanding the project from both the client who is the end user’s point of view and the software developers’ point of view that actually develop the project for client. At CareerBuilder you can easily know about the opportunities and profiles of business analyst besides various other job opportunities.
CareerBuilder being an international leader in human capital solutions helps in matching the right talent with the right opportunity more often than any other medium. This is done through constant innovation, unparalleled technology and fantastic customer care experience delivered at every touch point.