Deprecated: Function Elementor\DB::is_built_with_elementor is deprecated since version 3.2.0! Use Plugin::$instance->documents->get( $post_id )->is_built_with_elementor() instead. in /home/u150815022/domains/orangehive.in/public_html/wp-includes/functions.php on line 5379

Business Analyst Job Overview

Job Responsibilities

       Business analysts have a variety of responsibilities that can often be very complex depending on the industry. They are responsible to understand a problem and its impact at three levels: Business Level, Software Level, Information Level.

      They collect these data through interviews, surveys, web search, database search, or other methods and perform complex data crunching algorithms to get insights. Then, they have to compile and produce reports on trends, opportunities and possible dangers to business.

      They are not usually involved in coding but work on many data crunching software. In Simple terms, they Utilize IT data and convert them to business insights. They play an active role in assisting in the enforcement of project deadlines and schedules, communicating effectively with personnel and applying project standards. They need to have a strong understanding on managing resources in accordance with project schedules, and delivering quality services to clients.

Day to Day Tasks

           Typically, day to day tasks of Software Engineer involves six phases:

  1. Investigating goals and issues
  2. Analyzing information
  3. Communicating with a broad range of people
  4. Documenting findings
  5. Evaluating solutions
  6. Implementation.

        Let us Deep dive in each phase:

  1. During the Investigation phase, Business Analysts spend a great deal of time asking questions to get feasible clarifications, a they conduct interviews, read, and observe work in progress. They do analysis and look for solution alternatives for their respective projects or tasks.
  2. During the Analyzing Information phase, the Business Analyst explains the elements in detail, affirming clearly and unambiguously what the business needs to do in order solve its issue. They will also interact with the development team and an architect, to design the layout and define accurately what the solution should look like.
  3. During the Communication phase, Good Business Analysts contribute countless hours actively communicating. More than only speaking, this means hearing and recognizing verbal and non-verbal information. It is one of the huge part of day to day tasks of BA.
  4. During Documenting phase, BAs spend a decent amount of time recording what they learn and observe, and recording the results of their analysis. They use charts, illustrations, graphs to record data.
  5.  Evaluating Solutions phase is basically a stage during which A BA must spend time identifying options for solving particular difficulties, then help choose the best one. The preferred solution is then estimated throughout the layout and planning to assure that it meets the business requirements.
  6.  Finally, during Implementation phase,  is not the conclusion for the Business Analyst. It’s the riskiest time for things to go amiss and for objectives to be missed. It’s during this stage a BA should be aware of how clients/ stakeholders are utilizing the framework and assist them in it.

Preferred Degree

      To identify the preferred degree for this job profile, a survey was conducted with 114 respondents along with secondary research on popular job portals like Linkedin, Naukri.com, Indeed.com, etc. The graph below helps us understand the educational qualifications of current workforce in this profile.

(*Above data obtained from Payscale.com and also verified by survey results)

          It was identified that about 28.5% of employees currently working in the profile of Business Analyst have an MBA in either Finance, General Management, Analytics or IT. About 22.3% of them are either CAs or have a CFA certification. Thus, more than 50% of current workforce is either an MBA or CA, CFA.

       About 21.1%  of BAs have a Bachelors in Engineering with Majors in IT, EXTC or Computers. The remaining approx 25% candidates have a Graduate degree in Commerce only.

         

Important Subjects & Academic Courses

Business Management & Strategy

Cost Accounting

Corporate Finance

Micro & Macro-Economics

Data and Visual Analytics

Corporate Governance

Advance Computer Science and Data Structures

Deep Learning and AI

Marketing and Branding

Strong growth in Salaries due rising Demand

Exposure of Technology as well as Business Side provided.

The Skills of a BA are applicable across all the industries, thus Industry agnostic profile.

Wide Sets of Skills needed due to techno-functional role.

High pressure job due to deadlines. Involves dependency on other teams leading to delay in work.

Long Hours of work leading to stress and health hazards

Job Demographics

        Analysis on demographics of workforce working in this profile indicates that about 25.9% of employees working as a Business Analyst choose this profile during their Early Career (i.e Within 0-4 Years of Job Experience)

       About 33% of the employees working in this profile join this profile during Mid Career (i.e Between 4-7 Year of Job Experience). Experienced Individuals with an experience between 7-10 Years in an Industry contribute to 29.3% of workforce for this profile. Thus, this profile is suitable for recruits during an “Late Mid Phase” in career hierarchy.

(*Above data obtained from Payscale.com and also verified by survey results)

      The Gender breakdown in this profile in India is 78.5% Male vs. 21.5% Females. However, over the past 3 years the percentage of Females getting recruited in this job profile in on a steady rise. 

Salary Details

Information on average Total Salary, variable Salaries, Bonuses, Growth in the packages during Career hierarchy and much more for a Business Analyst!

Know More!

Upgrade Skills

List of Best Online Free Courses, Youtube Channels, Content Blogs along with best Certifications to upgrade the skills for a Business Analyst!

Know More!

Related Careers

Related Blog Articles