Businesses excessively demand the use of data today, and business analytics hence we can’t question why business analytics has become such a big thing. By studying and interpreting the available data, business analytics help businesses to understand what is working well and what they need to improve.
What is Business Analytics?
Business analytics attempts to find solutions to some of the basic questions that arise within an organization: Why is something happening? What happens if the trend remains? What is the anticipated growth? How to revamp for a better result?
Who is a Business Analyst:
Business Analysts are accountable for connecting the rift between IT and the business using data analytics to evaluate processes, decide the requirements and distribute data-driven recommendations and reports to executives and stakeholders. Business analysis professionals constitute Business systems analysts, Requirements engineers, Process analysts, Systems analysts, Product managers, Product owners, Enterprise analysts, Management consultants, Business architects, etc.
Business Analyst Qualifications:
Bachelor’s degrees are required for entry-level positions in analytical fields. Obtaining your bachelor’s degree in a quantitative field like economics, finance, computer science, data science, statistics, information management, or any similar field can benefit you in this journey.
Business Analyst Salary:
As per Glassdoor, The national average salary for Business Analysts is 7,60,000 INR per year in India.
Business Analysts are accountable for connecting the rift between IT and the business using data analytics to evaluate processes, decide the requirements and distribute data-driven recommendations and reports to executives and stakeholders
Business Analytics Expert:
Business analytics experts work on everything from advertisements to product placement. Their interpretations aid businesses to increase sales and revenue. Having the required skills to obtain specialized degrees is chief in becoming a business analytics expert.
They provide a comprehensive understanding of what is doing well and what it is not in a business. They then make recommendations based on what they have discovered (investigative role) and work with internal and external clients.
There are various skills candidates are supposed to have if they are willing to work in the field of Business Analytics.
Business Analytics Expert Qualification:
A graduation degree is mandatory. Knowledge and experience in writing SQL queries. Expert knowledge of programming languages. Having proper communication and negotiation skills are inevitable.
Business Analytics Expert Salary:
According to Glassdoor, The national average salary for a Business Analytics Expert is 15,13,004 INR per year in India.
You can also read What are the Different Types of Business Analytics?
Business Skills for Business Analysts and Business Analytics Expert
Analytical Problem-Solving: Data is being analyzed in large amounts every single day, hence analytical problem-solving skills are beneficial.
Effective Communication: The data collected needs to be presented in a manner such that it can be understood and there is proper communication.
Creative Thinking: Brainstorming sessions can essentially improve the creation of creative ideas.
Business Analytics Experts are experts for a reason and they exhibit all-inclusive knowledge and understanding of the domain. They have ample knowledge of:
- Statistical software
- Statistical language
- Interpersonal skills
- Commercial awareness
- Communication and interpersonal skills
- Time management and organizational skills
- Problem-solving skills
- Analytical skills
- Leadership and management skills
There are numerous tools used by Business Analytics professionals:
- Modern Requirements
- MS Visio
- Statistical Software
- Statistical Languages
Business analytics is very essential in the future and in the development of any company striving to remain profitable. The understanding obtained from business analytics is valuable to know where a business stands, to foretell future outcomes, and to set up the basis of making proactive tactical decisions.
The IT industry is a distinctly competitive industry and to mark grades in this field requires regular practice. SKILLOGIC offers comprehensive training course in the Business Analytics domain that is accredited by the International Association for Business Analytics Certification (IABAC). If you are interested to partake in this journey of being a Business Analyst or a Business Analytics Expert or anything in between join our training right now!