The position of a business analyst is a comprehensive mix of varied tasks and responsibilities, including gauging product requirements, analysing company performance, improving process flow as well as providing insights into financial and accounting aspects. Moreover, a business analyst act as an important cog between different management levels of hierarchy along with coordinating with departments of Sales, Finance, Strategy, Human Resources, Operations and IT, amongst others. It has become one of the highest searched jobs in the United States as per Forbes. Keeping reading this blog to know more about the process of how to become a business analyst.
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How to Become a Business Analyst: Understanding the Job Profile
The term ‘business analyst’ is used in a broad sense and its actual responsibilities vary depending on the nature of the job and company profile. Accountability of a business analyst working at a wealth management firm is miles apart from that of someone working in the same capacity while being employed at a human resources consultancy. Terms like ‘management analyst’ and ‘system analyst’ are heavily used in place of a business analyst. Coming to the job, its multifarious aspects are briefly given a rundown below.
- Identification and preliminary analysis of opportunities and presenting it to the senior levels for further evaluation.
- Interacting with heterogeneous stakeholders of the company, maintaining cordial relations and relaying feedback in both ways.
- Working on increasing efficiency and productivity of employees simultaneously thus creating a conducive atmosphere.
- Overseeing adherence to regulatory standards and compliance policies internally and externally.
- Conducting data analysis and business research for the evaluation of the company’s past and current performance in order to come up with practical solutions and fixes.
- Fulfilling documentation needs, including validation, verification and submission of required documents to senior levels of management.
- Ensuring through financial analysis, the areas of investment management are in line with the objectives of the company.
How to Become a Business Analyst: Essentials
There are two fundamental steps we would like to mention in our guide on “how to become a business analyst”. First, you are required to pursue an advanced Business Management Courses preferably in the areas of Business Studies, Business Economics, Finance or related disciplines [listed below]. Secondly, a few years of industrial experience for entry-to-middle executive roles is desirable. Both of these elements gear individuals for the business analyst positions in the industries of portfolio management, human resources, consulting, technology management as well as logistics, operations, supply chain management, etc. Further, skills of quantitative analysis, problem-solving, written and verbal communication, critical analysis, research and organisational skills, amongst others are highly appreciated.
Also Read: Banking Courses
The following list curates a few of the highly recommended courses and certifications one should explore to become a business analyst:
- MBA in Foreign Trade
- MBA in Digital Marketing
- MBA in Healthcare
- MBA in Accounting
- MBA in Quality Management
- MBA in Data Analytics
- MBA in Computer Science
- MBA in Logistics
- MBA in Banking
- MBA in Logistics and Supply Chain Management
- MBA in Construction Management
- Master of Management Studies
- Masters in Human Resource Management
- Master of Engineering Management
- Masters in Marketing Management
- Master of Finance
How to Become a Business Analyst: Certifications
In addition to courses and degree programs that you should know to understand the process of how to become a business analyst, there are scores of certifications that help in accentuating and refining one’s knowledge. Further, with the constant demand to be up-to-date with the recent developments and changes in the industry, these certifications not only aid in providing trusted and latest information but are also recognized by the largest of enterprises across the globe.
- CFA Course & (FRM)
- IIBA Entry Certificate In Business Analysis [ECBA]
- Project Management Certifications, e.g, MBA in Project Management
- IIBA Certification of Competency in Business Analysis
- PMI-Professional in Business Analysis [PBA] Certification
- IIBA Agile Analysis Certification [AAC]
- IREB Certified Professional for Requirements Engineering [CPRE]
Hence, we hope this article on ‘How to Become a Business Analyst’ has helped you in understanding where you should stand and what you should start with. Needless to say, making crucial decisions related to one’s career requires much thought and consideration. Consult the team of experts at Leverage Edu through a free 30-minute counselling session and take a step towards building a vibrant career in Business Analytics.