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The U.S Bureau of Labor Statistics projects that careers in Business analysts will increase by 11% between 2019 and 2029, much faster than the average job outlook growth rate. With the median salary of $82,049. There is a reason business analyst jobs are so much in demand.
The business Analyst profile is one of the most sought-after career options because of the increasing inclination of businesses toward data-driven cultures by great adoption of big data, AI, and business analytics.
Businesses are exploded by the tones of data and are leveraging the best use of business analysis tools and business analysis resources to retrieve the value from the data to perform growth-potential decisions and processes.
With businesses seeking to control costs and maximize efficiency in their processes, the BLS (Bureau of Labour Statistics) have indicated the demand for Business Analysts (BA) will see a growth turnout of 14
Data has gained humongous functioning in today’s organizations. Earlier usage of data was just limited to track the monetary assets and to manage the business’s audit and tax-related tasks, now data has much more border function to perform. It is now required to assess each and every aspect of the business - so that better business decisions and activities can fall into place.
With the advancement of technology, data handling became easy and pensive. Now businesses are using a lot of data to induce better performances or business functions. And to lead this role, they are hiring business analysts who know how to procure and translate those valuable data into favorable outcomes for businesses of any scale or intensity.
Business analytics careers is one of the growing fields of today that has been tremendously helping businesses to lift their profit figures and prepare business plans of extreme solidarity. The tasks under business analytics careers are subjected to inspecting the business’s external and internal performances - mainly in a way their final outputs are worth financial growth. Business analytics is a deeper subject, it could be all-around -
Let’s chalk out a few reasons why exploring careers in business analytics can be the next best thing:
Business analytics careers are in demand because every hour, there are hundreds of terabytes of data produced over 6 billion connected devices. Each data produced has a great requirement to be translated into sensible information- to help businesses dip their foot for a competitive edge. With a degree and right skills, anyone can be handed over with the job to assess, and extract the useful information from that scattered data - to derive meaningful insights - which every small to high scale business is longing for these days.
It doesn’t matter if you have a technical or non-technical background for business analytics and information systems careers, the field is welcoming for all candidates from diverse backgrounds. With useful Business analysts certification training, you could learn to explore and harness the latest technologies and software(s) that helps to automate and fasten the analytics activities. These training programs would help you learn the powerful machine learning languages like Python - which is the key ingredient these days in writing problem-solving coding scripts. That's why Business analytics careers are in demand.
Even though the Business analytics careers are soaring high in job vacancies, the skill gap is still constant. The supply of candidates still hasn’t managed to fill the demand. This skill gap is a global phenomenon.
A report by Mckinsey in 2017 claimed that the US will be facing a shortage of 1.9 million data scientists and analysts in the upcoming 2 years.
We can draw two good things from this evident skill gap -
You render great decision-making for simpler to complex challenged situations
Business analytics by being the subset of data science allows the implementation of technology that serves actionable intelligence from raw accumulated data. You learn to gather the data and screen it for delivering improved decision-making abilities to the businesses & its stakeholders. You learn technologies & methods via which you generate valuable, profit-centric insights for any organization.
Learn Business Analyst in the Easiest Way
Even though the field is heavily dependent on technological tools & advancements, the field will always require intelligent humans, who could handle these technologies and bring it to the use of organizations betterment.
Even though you are just a starter and possess great data science and business acumen, you will be picked at a blink of an eye and would have great pay offered. And on the other hand, if you are an existing professional, by upscaling your skills, you too can extract the growing pays. The reasons behind the great compensation are the shortage of business analysts in the market, thus, to fulfill the skill demands, businesses would be agreeing on paying the compensation demanded by the resources - based on their skills & acumen.
Let the facts say it all…
Explore these facts to know why having business analytics and information systems careers are so much in demand:
Exclusive Read: Business Analyst Career Path: Step by Step BA Career Roadmap
With the average annual salary of a business analyst starting from $62,951, going as high as $130,000 for senior business analyst roles, there are numerous paths you can take to become a business analyst. If you're wondering how you might get your foot in the business analysis career door, here are four things you should consider.
For a spectacular career in Business analytics careers. A solid business background or knowledge of information technology is a good place to start. For this, you can enroll yourself in an undergraduate course in computer science, business administration, finance, or analytics. If you think the courses are too long or expensive.
Here’s another option: You also choose a relevant certification program that can cover the fundamentals of business & IT skills along with sharpening your data analytics.
Business analysts offer a unique blend of skills and necessary analytic skills. Learning the set of skills helps you create clarity between the workers. So being an individual you must hold clarity of job roles to reach new heights in your Business Analytics career.
Some of the key skills required to be a business analytics are:
In case you desire to be a business analyst you should understand the importance of your job role such as finance, banking, retail, public services and technology. Professionals have given these roles different title such as:
Being a business analyst, you should understand that it connects potential business ideas with business capabilities. Identifying and Prioritizing business requirements at the right time is what makes a business analyst a star.
So, to be a business analyst an individual should be ready to obtain new business knowledge, get a hold of the latest software and programming languages and try to implement it at the earliest.
The average business analyst salary changes with different jobs profiles. So, here are a few job titles associated with business analysts with their salaries.
Average Salary(per annum)
Business Intelligence Analyst
Business Systems Analyst
Well! Typical salary of a business analyst changes with experience and job responsibilities. But, to reach there let's check out the next segment where you will know what skills a business analyst needs to attract such a high payscale.
A blend of hard and soft skills together is an imperative requirement for business analytics careers:
Communication skills: Business analysts must work in groups, collecting sometimes dense, technical information and presenting it to wide-ranging stakeholders in the company. They’ll have to translate and negotiate between parties and communicate their solutions in an accessible way. Thus, business analysts must have strong written and spoken skills and feel confident in a leadership position to gain approval for plans from superiors in the company.
Business knowledge and critical thinking: Business analysts must understand many facets of the company they are working with. They must be able to apprehend the roles of different individuals and departments, and how these departments interact and depend upon each other. They must also be able to comprehend the single organization in a broader context of the entire industry. This business knowledge will then allow them to successfully analyze data points and build strategic plans for the future.
Technical skills: Business analysts may use a wide range of technical programs, including programs in diagramming, data crunching, wireframing, management of requirements, and for presentation of results. More and more, business analysts are increasing their technical proficiency with knowledge of computer programming, big data mining techniques, database management, and systems engineering.
Understand that not all business analysts’ roles are of the same identity, they are created based on each & every data-driven business culture. However, there are certain skills that business analysts need to have within - no matter what organization they plan to pin with. These are the following skills required:
Business analytics careers have a crucial presence in businesses that are adopting data-driven cultures - via the amalgamation of AI and big data. The field of business analytics and information systems careers have so many job opportunities. And at the initial stage, an individual can earn an average salary of BA professional $81,330 per year.
There are many professional fronts in which business analysts can pave their way. The most popular of them after having masters in business analytics careers are:
Business Analyst Training & Certification
There are many business fields making use of tonnes of data like wholesale, manufacturing, supply chain management, healthcare, retail, banking & finance, etc, you can easily become an upright choice for these organizations/industries if you adopt the right skills & knowledge to make careers in business analytics. To become one, you may go like this:
Business Analyst Training & Certification
In business, certain certifications and credentials can help you increase your professional opportunities, command higher salaries and become a more qualified and competitive job candidate. Being certified and gaining designations can also help you when changing career paths or entering a new industry, especially as a business analyst.
The Certified Analytics Professional (CAP) is a vendor-neutral certification that certifies your skills and ability to draw valuable insights from complex data sets to help guide strategic businesses decisions. To qualify for this certification, you will need a master’s degree in a related field and at least five years of relevant experience, or a bachelor’s degree in a related field along with seven years of experience in data or analytics. You can also qualify for the associate level aCAP exam if you have a master’s degree with just three years of related experience in data or analytics.
The Entry Certificate in Business Analysis (ECBA) is the first level of certification with the International Institute of Business Analysis (IIBA), it’s designed for less experienced and entry-level business analysts. You will need to complete at least 21 hours of professional training credits, within the past four years, before you will be eligible for the exam. You don’t have to renew your ECBA certification, but it’s assumed you’ll move on to the second or third levels of certification.
Level 2 of the IIBA certification, the Certification of Competency in Business Analysis (CCBA) requires a minimum 3,750 hours of business analytics work aligned with the IIBA’s Business Analysis Book of Knowledge (BABOK) guide in the past 7 years, 900 hours in two of six BABOK knowledge areas, or 500 hours in four of six BABOK knowledge areas. The certification also requires a minimum of 21 hours professional development training in the past four years and two professional references. The CCBA exam consists of 130 multiple-choice questions that are scenario-based and require some analysis. It covers fundamentals, underlying competencies, key concepts, techniques etc.
The Certified Business Analysis Professional CBAP certification is the third level of certification with IIBA and it’s designed for “individuals with extensive business analysis experience.” To qualify for this certification, you’ll need a minimum of 7,500 hours of business analyst work experience in the past 10 years, 900 hours of work experience hours within four of the six BABOK knowledge areas, at least 35 hours of professional development in the past four years and professional references. The exam is 3.5 hours long and includes 120 multiple-choice questions that are based on case studies. After you pass, you’ll need to report at least 60 hours of continuing development units every three years.
As a methodology, agile has been rising in importance for business analysts over the past several years, according to the IIBA. The association’s competency-based Agile Analysis Certification (AAC) exam was designed to address this skillset and to certify business analyst professionals working in agile environments, which require fast adaption and rapid change. The exam was developed using the Agile Extension to the BABOK guide and was released in May 2018. It is a standalone certification and is separate from the other IIBA business analyst certifications, which stack on top of one another.
The Certification in Business Data Analytics (IIBA-CBDA) from the IIBA is a new certification that “recognizes your ability to effectively execute analysis-related work in support of business analytics initiatives.” To pass the exam, you will need to examine a real-world business problem, identify the data sources and how to obtain data, analyze the data, interpret and report results from the data. You’ll then need to demonstrate how those results can influence business decision-making and guide company-level strategies for business analytics.
The International Qualifications Board for Business Analysts (IQBBA) offers the Certified Foundation Level Business Analysis (CFLBA) as an entry-level certification, which will qualify you to earn higher levels of certification. It’s a globally recognized certification with accredited exam and training centers all across the world. It’s designed for “people involved in analyzing business processes within an organization, modeling businesses and process improvement.” The foundation level covers enterprise analysis, business analysis process planning, requirements elicitation, requirements analysis, solution validation, tools and techniques, innovation and design.
The International Requirements Engineering Board (IREB) offers the Certified Professional for Requirements Engineering (CPRE) certification designed for those working in requirements engineering (RE), and it’s offered at three levels. The Foundation Level is first, where you’ll be certified in the basics of RE. The Advanced Level is next, where you can choose between three paths, including Requirements Elicitation and Consolidation, Requirements Modeling and Requirements Management — but you’ll need to wait 12 months after completing the first exam to take the advanced level exam. The Expert Level certifies you at the “highest level of expert knowledge,” which includes both your hands-on experience as well as your knowledge and skills gained through previous certifications.
The PMI Professional in Business Analysis (PBA) certification is designed for business analysts who work with projects or programs, or project and program managers who work with analytics. It’s offered through the Project Management Institute, which specializes in widely recognized project management certifications, such as the PMP. The certification focuses on business analysis training through hands-on projects and testing on business analysis principles, tools and fundamentals.
If you’re new to the industry or want to change careers and start on the path of a business analyst, JanBask offers a Business Analyst Masters Program. The course promises to make you an expert in Excel, CBAP, Tableau, Agile ScrumMaster, SQL, CCBA and Agile Scrum Foundation. You’ll also learn how to build interactive dashboards, apply statistical tools and concepts, master the agile scrum methodology, plan and track Scrum projects, understand the Business Analytics Industry.
So in the above, we discussed a roadmap to have successful careers in business analytics in the form of - what is business analytics, why joining this field is a wonderous option and few simple steps to transition quickly into a professional business analyst.
If you think you have great communication skills, a knack for solving problems, the ability to walk with trending technologies & tools, and some capacity to help businesses solve their problem statements of any scope or complexities, then the business analytics and information systems careers belong to you. Don’t fall behind, make a lucrative and growing career in this field by enrolling for Business Analyst Certification Training with us - where you will be transitioned into a market demanded business analyst in no time.
Abhijeet Padhy is a content marketing professional at JanBask Training, an inbound web development and training platform that helps companies attract visitors, convert leads, and close customers. He has been honored with numerous accreditations for technical & creative writing. Also, popularly known as “Abhikavi” in the creative arena, his articles emphasize the balance between informative needs and SEO skills, but never at the expense of entertaining reading.
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