A business analyst is someone who studies an enterprise or company domain and records its economic structure, processes, models, or networks, analyzing the firm’s business model or its application with various technologies. The scope of business analyst job varies from client/agent to client/agent. Business Analysts helps in aligning the interests of the business owner with the technical expertise required for enhancing the business. In recent times, a business analyst has become a person responsible for analyzing business intelligence data and assisting the management in achieving competitive, cost control, network, and information objectives. They are also liable for developing business plans, setting business priorities, implementing strategies, and forecasting future trends.
There are different types of Business Analysts and each has different areas of responsibility. One of the main areas of responsibilities is for identifying and understanding the customer’s needs and wants, identifying the most suitable technology, developing marketing strategies, analyzing the technical aspects and estimating the resources required for implementation of new technologies, managing the process improvement cycle, communicating and working with stakeholders, identifying the appropriate target market, planning and developing budgets, testing new technologies, and implementing new business strategies. Some of the other roles that are commonly included in the job profile of a Business Analyst are risk analysis, business problem solving, training and development, improving current technology, analyzing business changes, business process modeling, business process optimization, and analyzing customer service needs. New technology implementation may involve redesigning internal processes or even changing business procedures, which are also considered for the purpose of change management.
A business analyst role involves continuous learning, which is essential for the success of any organization. The best way to get started in this field is to get some hands on experience either by joining a firm that is looking to hire analysts or by working on a part time basis for a few months under an analyst’s supervision. Once you are well established in the field, you can take up projects as per your skills and experience. A Project Manager may also be required for large scale projects, if you have a good technical background.