Business Analyst: Who is a Business Analyst, what are their responsibilities, and how to become one?

THE CONTENT OF THE ARTICLE:

Who is a Business Analyst in IT, and how to become one?

The job of a business analyst (BA) is one of the most in-demand in today's world. A specialist must have a whole list of skills in information technology and marketing. In addition, this profession is prestigious and offers wide opportunities for career growth. In this article, we will talk about the role of BA in the company and the features of the specialty in general.

Who Is a Business Analyst

A business analyst examines the problems and challenges of the business, shapes product requirements, and looks for ways to achieve the goal. They work with data, collecting and analyzing it, considering all available factors, and making decisions accordingly.

Such a specialist is actively involved in the implementation of the project, from needs analysis to the preparation for launch. They are well-versed in financial and organizational issues and constantly communicate with other team members.

Why Do We Need Business Analysts in a Company?

The business analyst finds an approach to all project participants and communicates with them in an understandable language. For example, with marketing specialists – based on business benefits and user cases, with product managers – in terms of the level of functionality. With developers – discussing the modular architecture and other technical nuances.

Such a specialist is needed when it is necessary to:

determine the problems and challenges of the business;
analyze the needs of the project;
develop a strategy and tactics for project development;
build processes or implement changes;
establish the interaction of stakeholders.

Below we highlight the main responsibilities and tasks of the specialist, determining their role in the company.

What Does a Business Analyst Do, and What Are Their Main Tasks and Responsibilities

The most common tasks that the analyst solves:

AD-hoc analysis. This includes gathering information on the company's performance and generating reports for the management department.
Market research. This means collecting and analyzing information about competitors, customers, and partners.
Reporting. Includes automation of data collection, calculation of performance indicators, and their visualization.
Strategy development. Making a plan and analysis of the economic effect of its implementation.
Business process optimization. This can be either creating processes from scratch or changing them.

The duties of a business analyst can vary, but mostly he or she performs these duties:

Requirements management. Finding, preparing, detailing, and separating requests into requirements of primary and secondary importance.
Strategic analysis. In many companies, the business analyst works with top management on product and company development strategy.
Create solutions. Preparing documentation and participating in prototyping; everything to think through, develop the solution, and communicate to the team how it will be implemented.
Product management. Communication with engineers, designers, managers, and a product owner.

Basic Skills Required to Work as a Business Analyst in IT

In addition to education, business analysis experts must have specialized technical knowledge. Personal qualities such as creativity, stress resistance, and diplomacy are also important.

We will highlight the most valuable skills:

Problem-Solving Skills. One of the BAs' responsibilities is to develop a plan for overcoming difficulties during their work. Therefore, the skill of identifying problems and methods of their solution is necessary for every specialist in this field.
Analytical mindset. Profession implies working with a large volume of data, their collection, analysis, and classification. It is necessary for the correct solution of tasks.
Communication skills. The business analyst is the liaison between everyone involved in the project. You need to build effective communication to succeed in this area.
Organizational skills. The ability to manage time, prioritize, and plan strategically will help you excel not only in business analysis but also in any other field.
Attention to detail. The lion's share of a business analyst's time is spent studying documents, analyzing data, and building models. This requires a high degree of accuracy and attention to detail.
Conceptual thinking. It is about understanding abstract inquiries and finding creative ways to solve problems of varying complexity.

These skills help business analysts competently perform the tasks assigned to them, thus increasing their value as an employee of the company.

Pros and Cons of Being a Business Analyst

The main advantages of such a profession include:

decent salary;
prospects for career development;
high demand due to the shortage of specialists in the labor market;
opportunity to move into marketing or project management;
work with all lines of business and a diversity of projects;
realization of creative potential;
interesting acquaintances due to working in the team.

There are also some disadvantages and difficulties:

Client doesn't understand the BA's tasks. The client entrusts them with the responsibilities of related specialists, thus imposing exaggerated requirements for the result.
Increased responsibility for the project. The business analyst is responsible for the effectiveness of the analysis and subsequent planning, which directly affects the project's success.
The need to coordinate the work schedule when working remotely. This is because the client and the team, which includes the BA, may be in different time zones.
Working with large amounts of data. Business analysts spend most of their time collecting and processing information, as well as interpreting it for all team members.

The versatility of the business analyst job shows that not everyone is ready to become one. But with the desire and relevant skills, there is an opportunity to get a high-paying position that is in demand around the world.

Career Prospects of a Business Analyst

This specialist is still in high demand, and the market's oversaturation is not expected in the near future. The development of IT infrastructure and its implementation in various spheres of activity allows us to discuss the profession's prospects.

Among these perspectives are:

improving oneself as a business analyst and actively moving in this direction;
immersion in the system part and obtaining Business or Enterprise Architect status;
development along managerial, project, or business paths (Project manager, Program manager, CTO, Product manager).

There are many career options. Business analysis is needed everywhere: to manage analytics departments, market research, and provide consulting services.

Average Salary of a Business Analyst

The amount varies by region. For example, in the United States, the average annual salary for a business analyst is $78,423, which is above average. The minimum salary is $51,291 per year, and the maximum is $119,906.

If you compare the salaries of business analysts within the United States, you can see that some states pay more than others. According to Indeed, the average salary in St. Louis, Missouri, is $72,179. In New York, the same professional would make $96,614.

As for European countries, for example, in Germany (Frankfurt), the BA receives, on average, €56,232, and in Italy (Milan), €29,000 per year. We can only talk about specific figures when all factors are considered. In addition to the region, these are the experience level, additional skills, and the company's size.

How Do I Become a Business Analyst?

To get the position you want, follow the recommendations:

Improve your English to Intermediate Strong and continue to improve. Communication with clients takes place in an international language, so the beginner has to write and speak a lot of English.
Master agile development methodologies: Scrum, Kanban, XP, Lean. Businesses in industries ranging from banks to oil production are increasingly experimenting with these approaches.
Study BABOK (A Guide to the Business Analysis Body of Knowledge). This is a guide to "How to do business analysis work effectively." The manual's authors have combined views on the tasks of BA: identifying needs, explaining the change, and finding solutions.
Take a business analysis training course. The lecturer will share tools, literature, and business cases and teach you how to use specific techniques.

To succeed in this field, the main thing is to acquire key skills, as well as to master good English. In the future, you should improve your knowledge and follow trends.

Summarizing

The Business Analyst is a valuable member of the IT team. They understand the peculiarities of all processes and help achieve the goals set for each project. Not surprisingly, the profession is in demand in the labor market and suits those who seek career growth.

FAQ

What is business analytics in simple terms?

Business analytics is the identification of the customer company's problem and the search for its optimal solution. BA formalizes the concept as requirements on which the developers will further rely.

How much does a Junior Business Analyst earn?

It depends on various factors, including the region. For example, in the U.S., a professional with 1 to 2 years of experience gets $74,792 annually. To get $83,075, you would need 6 to 9 years of experience.

What is the job of a business analyst?

The specialist collects, processes, and analyzes data related to the future product's requirements or functions. In essence, they stand between the business and the development team itself.