The prospect of becoming a business analyst has never been exciting as it is today, given the immense scope of opportunities even in the Indian market. Looking at the fast emerging and rapidly transforming business demands consisting of smart business solutions besides sophisticated technologies has led to a sharp increase in the opportunities for business analysts. In today’s times, it is extremely challenging to impress a customer with the use of traditional business plans and solutions and this is exactly where the role of a business analyst comes into the picture. A business analyst is someone who offers the best and most effective business solutions after analyzing and considering the various aspects and parameters of the business under consideration.
With all major organizations depending on data analysis for their growth, which in turn is dependent on data intelligence. In fact, India stands right behind China and Europe, which are world’s leaders in deploying data analysis in making business decisions. This clearly shows the vast gamut of opportunities the Indian market scenario offers to business analysts.
A Brief Description of Business Analysis!
A business analyst helps business owners to enable changes within the organization by analyzing requirements and providing smart business solutions. A business analyst gathers the requirements from business intelligence or from the clients and on that basis, prepares business plans for its subsequent growth. Various levels of a business require business analysts at different stages. Business analysis is done considering the business goals, problems and coming up with the most viable solutions.
Is a Career in Business Analytics Bright Enough?
There are many reasons that make business analytics a lucrative career for many and here in this section we will understand why! A business analyst can easily move up the ladder by taking up the role of a project manager or consultant in various industries. Secondly, the salaries offered to a business analyst is quite competitive as compared to the general industry standards. Thirdly, the role of a business analyst cannot be taken over by artificial intelligence like in the case of many professions like software programmers, architects, etc. Fourthly, with the coming of big data in the market, the growth of a business analyst knows no bounds. Thus, while you must explore this field if you have a keen interest in data, polishing a few skills will make your foray into this field much easier than your counterparts. For example, effective communication skills, domain knowledge, knowledge of IT processes, qualifications & certifications and knowledge of business analysis tools.
How is the Future Going to Look Like for Business Analysts?
Given that most big organizations are adopting the data driven analysis for acquiring business solutions, the role of a business analyst is going to be intertwined with that of a data analyst and going to acquire a very important position in organizations. We all know how critical data is today and how all businesses depend on both structured and unstructured data. With this, the emergence of growth opportunities for a business analyst is predicted to be on a natural high!
Factors Affecting a Business Analyst’s Salary!
The salary of a business analyst continues to grow at a steady rate, which as of now, can be quantified as around an average of 3% in 3 years in the USA. It of course, depends on your location and other factors. You must also remember that certifications help your salary to move into an upward direction. Naturally, with growing experiences increases the salary. Also, a business analyst’s salary varied from industry to industry. Different businesses have different analysis requirement basis of which, the salary of the business analyst varies.
These were our two cents on how the career of a business analyst looks and the available opportunities in India and globally. If you have the interest and acumen, you must go ahead and consider this a career option for yourself!
