Business Analyst: Job Profile & Role
Business analysts collect and analyse data about their company and the industry the company works in. They focus on data that can be used to secure and optimise the organisation’s processes and systems, as well as the business outcome. They also must present those data to the company’s management. Therefore, as a business analyst, you foremost need business skills as well as analytical skills. If you want to find out what ales it takes to start a career as a business analyst and what a career path could look like, you are about to find out in this blog post. Furthermore, you will know what a typical day in the life of a business analyst seems like and how much you can expect to earn.
Short Summary
- As a business analyst, you will investigate processes, problems, and situations to find possible improvements for your institution.
- There are different opportunities to start a career as a business analyst. Most employers expect applicants to hold a degree that teaches analytical as well as business skills.
- As a business analyst, you can work in different industries. To thrive as a business analyst, you need to have profound communication skills and an excellent ability to pay attention to detail.
Job description
As a business analyst, you help to optimise the processes and the success of your institution. You must collect and analyse data about your company, the various processes within the company, and the industry you work in. Based on this data, you develop models to identify areas that can be improved. It is also your responsibility to come up with ideas on how to overcome the company’s weaknesses and find solutions to transition your company to a more successful level. It is also part of your job to report to the senior management.
Responsibilities
- Identifying the needs of an institution
- Collecting and analysing business requirements
- Conducting feasibility studies
- Process modelling and optimization
- Defining system and process requirements
- Participating in testing activities
- Organizing change management
- Presenting concepts to stakeholders
Different types of Business Analysts
- Business Process Analysts
- Business Systems Analysts
- Generalist Business Analysts
Salary
Business Analysts can be employed at different career levels. Therefore, the salary of a business analyst can vary between £25,000 per year in an entry level and £80,000 per year or even more on a senior level. However, the average salary of a business analyst in the UK is between £40,000 and £60,000.
Please consider that the salary you might earn as a business analyst depends on various factors. These include your educational background, your experience, and the industry you work in as well as the size of your company.
Working hours
The role of a business analyst is office-based. Therefore, you can expect to work regular office hours most of the time. Therefore, you are looking for 35 to 40 hours weekly on average as every standard full-time schedule in the UK. However, you might keep in mind that the actual working hours can vary as they depend on the company, the industry and the specific project requirements. Therefore, you might need to work additional hours or have a flexible schedule to accommodate meetings in the evening. If you work as a business analyst on international projects, your working hours can vary depending on what time zones the other project partners are located in.
Employers
As a business analyst, you can work for employers from different industries. Companies that employ business analysts come from sectors such as finance, technology, healthcare, retail, and manufacturing. Among the top companies in the UK that employ business analysts are Accenture, Deloite, PcW, and KPMG as well as IBM.
Qualifications
The role of a business analyst is among the jobs for which there are no formal qualifications mandatory. Nevertheless, most employers expect applicants to hold at least a bachelor’s degree in a relevant field such as business administration, finance, economics, or computer science.
Depending on the industry you want to start a career as a business analyst in, the qualifications that are expected might vary profoundly. You should also consider that the role of a business analyst is not a job that you start directly after gaining your degree. Should you plan to start your career in this specific field of work, you might apply for an internship. Some companies have special on-the-job programs through which you can gain valuable experience and advance your career.
The job as a business analyst could be suitable for you if you have one or more of the following qualifications:
Skills
Depending on the industry you work in as a business analyst, the skills that are required may vary. Nevertheless, there are certain skills that every business analyst is expected to possess. Among the widespread skill sets of a business analyst, we will focus on the following three skills in this blog post.
Is the business analysts job a good fit for you? Typically, a controller should have or develop the following skills:
Analytical Skills
As a business analyst, you need profound analytical skills as they enable you to gather, interpret, and analyse data to specific patterns, trends, and insights. Analytical skills include the ability to analyse large sets of data to extract essential information. This includes the ability to use statistical techniques, data visualising tools, and data modelling.
Problem-Solving
During the process of analysing existing business processes, you will identify inefficiencies or areas for improvement. Some of these inefficiencies might even demand ad-hoc solutions. Therefore, problem-solving abilities are crucial for every successful business analyst. To come up with effective solutions to solve these problems, business analysts use critical thinking and logical reasoning and develop effective strategies.
Communication Skills
As a business analyst, it is your responsibility to gather data from stakeholders by conducting interviews, workshops, and surveys. Therefore, profound communication skills are crucial for this role. Key communication skills that a business analyst should possess include the ability to listen actively, verbal and written communications, as well as facilitation. Business analysts need to be able to manage conflicts, encourage participation, and ensure that all viewpoints are considered.
Career Path
There are different ways to start a career as a business analyst. Most employers expect applicants to hold at least a bachelor’s degree as well as work experience in a relevant field. However, depending on the industry you plan to work as a business analyst, the actual requirements might vary.
Educational Background
As mentioned above, there are no formal requirements that are mandatory to start a career as a business analyst. Most employers will prefer applicants who hold at least a bachelor’s degree in a relevant field such as business administration, management, economics, finance, or computer science. These degrees provide a solid foundation in business principles, analytical skills, and technology. Some companies might even expect you to hold a master ’s degree in a relevant area such as business information systems, business management, or computer science.
Entry Level
Even at an entry level, business analysts are more often than not expected to possess relevant work experience. Therefore, business analysts usually start their careers by working on projects or in the business departments of their company. If you intend to start your career straight after university, you could gain experience through internships or a year in industry during your time at university.
Alternatively, you might start your career by choosing an apprenticeship in a relevant field followed by a bachelor’s degree. This way, it might be easier to get through with applications for internships during your time at university.
Continuous Learning
Once you start your career as a business analyst, you are expected to embrace continuous learning. This includes both industry-specific knowledge and emerging technologies you use as a business analyst.
If you plan to climb up the career ladder further, you might consider doing an additional master’s degree or some professional certification. Obtaining professional certifications can significantly enhance your credibility and marketability as a business analyst.
A Day in the Life of a Business Analyst
The work schedule of a business analyst consists of a myriad of tasks. Depending on the industry you work in and your amount of experience as well as your career level, your responsibilities might vary. However, typical for most days of your working life as a business analyst:
Gathering and Analysing Data
It is a business analyst’s responsibility to collect data on a company and the industry it operates in to improve its systems and processes and by that the business outcome. Therefore, you will spend a significant portion of your time gathering requirements from stakeholders. It is also your responsibility to analyse this data to identify trends, patterns, and possible areas of improvement.
Organising Testing and Quality Checks
Working as a business analyst also includes the organisation of testing and quality checks. Therefore, you will work closely with testing teams to define and oversee test scenarios and validate that the implemented solution meets the specific requirements. Once you have gathered requirements, you will document them in a clear
Collaborating with Stakeholders
A relevant part of your day will be spent in meetings of some sort as you need to collaborate with stakeholders, such as project managers and testers, to collect relevant data. In addition, business analysts provide recommendations for process improvements, system enhancements, and strategic initiatives to senior management.
Tips for Thriving as a Business Analyst
Business analysts are expected to possess a wide range of hard skills, such as business management skills and technical skills. To thrive as a business analyst, you need to embrace as well certain soft skills such as:
- Communication Skills
- Building Relationships
- Developing an open Mindset
Communication Skills
Business analysts work closely with stakeholders, lead project teams, and present the results of their research to senior management. Therefore, communication skills are crucial for every business analyst. Communication skills include several aspects such as active listening and non-verbal communication. People with excellent communication skills give their full attention to the ones they communicate with. This includes the understanding of cues such as body language, facial expressions, and gestures.
Building Relastionships
Business analysts work closely with various teams within their company as well as external partners and colleagues who work in the same industry but for different companies. Therefore, you will need to build relationships with various stakeholders such as project managers, developers, testers, and subject-matter experts.
Developing an open Mindset
It is your responsibility to define business opportunities by detecting possible areas of improvement in the company’s systems and processes. This requires business knowledge and analytical thinking, as well as the ability to keep an open mind. Therefore, it is crucial to strive for continuous improvement in your work and processes. This includes identifying areas of enhancement, improving efficiency, and seeking feedback from stakeholders.
Other jobs that are similar and might also interest you:
Frequently Asked Questions
As business analysts work in different industries, it is not possible to pinpoint the exact annual salary this role will pay. You also have to consider that your salary will depend on the company’s size, your amount of work experience as well as your career level. However, on average, a business analyst can expect to earn between £35,000 and £60,000 per year.
On an entrance-level, you might start with an annual salary of £25,000 to £35,000 whereas senior business analysts can earn up to £70,000. Especially with senior roles, there might be additional factors such as bonuses, benefit packages, and further compensations.
Although there are no formal qualifications that are mandatory, employers expect business analysts to possess a wide range of hard skills, soft skills, and relevant work experience. Depending on the industry you work in, the size of the company, and the specific job, the qualifications required might vary. However, these are the qualifications that are often sought after by employers:
· A bachelor’s or master’s degree in a relevant field, such as business administration. Finance, or computer science.
· Technical knowledge, or at least a basic understanding of technical concepts and tools that business analysts work with.
· Work experience in a relevant field either through an apprenticeship, an internship or some junior role in business administration or project management.
· Strong analytical and communication skills, as you will interact with various stakeholders to collect data and run testing and quality checks.
The role of a business analyst consists of different responsibilities. They might vary depending on your career level, the company size, and the industry you work for. However, generally speaking, the job involves analysing an organisation’s processes, systems, and operations to identify areas for improvement. Therefore, business analysts work closely with business stakeholders, IT professionals, and testers. It is a business analyst’s responsibility to bridge the gap between business needs and technology solutions to ensure the company’s success.