A business analyst acquires, segregates, and deciphers data to ensure that the obstacles that a business is facing and might face in the future are ironed out. A business analyst provides pivotal insights based on the data interpreted and comes up with suggestions to improve the overall efficiency and profitability of the company. Business analyst jobs in India and around the world are now in high demand and this article shall give you a comprehensive glance at how to become a business analyst.
Tasks and Responsibilities of a Business Analyst
- Identifying the changing needs of a company in respect to the market and the consumer.
- Developing financial models that’ll help sustain key business decisions.
- Planning the structure of a business.
- Forecasting and performing financial analysis
- Analyzing large data using SQL and Excel.
- Interpreting and understanding the requirements of the IT department.
Business Analyst: Salary and Scope
The demand for business analysts has increased exponentially in recent years and experts predict this trend to continue well into the future. The US Bureau of Labor Statistics (BLS) predicts a 7% to 25% rise in the requirement for business analysts and for people of similar occupations.
The average salary that one can expect for a business analyst job in India is Rs 7 LPA as reported by Glassdoor.
More insights on Business analyst career and salary
How to Become a Business Analyst?
Learn the Fundamentals
It is of utmost importance that you learn and sharpen certain key skills that are needed for you to thrive as a business analyst. Skills such as communication, data analysis, problem-solving, and a fine understanding of finance, accounting, and basic business principles will help you find a well-reupted business analyst job in India.
Take a Course
Short courses provided by prestigious institutions are the way to go for you to kickstart your career as a business analyst. Not only do these courses help refresh your knowledge, but they also teach you new concepts and topics that’ll you need to become a fully-fledged business analyst. These courses will help you familiarize yourself with data analytics, SQL software, and the overall workings of Excel, pretty much all you need to know to become a business analyst.
Getting a certification is a sure-shot way to stand out from the crowd. Certification acts as a testimony to the fact you are indeed a well-versed business analyst and this will surely open up new avenues for you in the future. Here are a few business certifications to help you in your journey:
- IIBA Entry Certificate in Business Analysis (ECBA)
- IIBA Certified Business Analysis Professional (CBAP)
- IIBA Certification of Capability in Business Analysis (CCBA)
- PMI Professional in Business Analytics (PMI-PBA)
Consider Getting a Degree
Getting an undergraduate degree in business administration, accounting or finance is a common first step amongst all established business analysts and would certainly boost your chances of getting a business analyst job in India. Many employers prefer analysts with a bachelor’s and very few do prefer candidates with a master’s degree as well. Getting an MBA or Master’s in Business Analytics would be a good way to tackle such challenges.
Being a business analyst is no easy task, but working your way up through the ranks will surely be a rewarding experience. The demand for business analysts is not going to fall anytime soon, and well-equipped candidates are being awarded high-paying business analyst jobs in India and around the world.
Praxis, being a premier business school, offers a state-of-the-art 9-month full-time postgraduate program in Data Science. This course will equip you with all the necessary tools to ensure your prosperity as a data scientist and business analyst. With amazing placements waiting for you, Praxis’s Data Science program is the way to go to be a proficient business analyst.