How do Business Analytics study will help in job career?

"If we have high analytics aptitude, so we could think and act as an analyst"

How to understand the analytics landscape and identify your ideal analytics job

So, what constitutes an analytics job? Is it the same as big data job? The analytics landscape is fraught with over-hyped and over-used terms, “analytics” is not synonymous with “Big Data” even though these days it is often mentioned in the same breath. Let’s discuss that in a moment.

First let’s define “analytics” vs. “business intelligence” (BI). Business intelligence and analytics are actually two distinct processes that involve different tools and serve different purposes. Then a user interacts with a system (such as when you checkout groceries from your local supermarket), data is produced, collected, cleaned and stored using data solutions including Teradata, Hadoop and Oracle. Data is then accessed via reports and, increasingly, via graphical dashboards. Business intelligence BI includes all components of the operation, from when data is collected to when it is accessed. Analytics, on the other hand, is the process performed on data that has been delivered by BI for the purpose of generating insights to drive decisions, actions and, eventually, revenue or other impacts. Data is converted to insights using analytics tools such as SAS, R and Excel.

Now let’s talk about Big Data. Big Data’s ever-increasing volumes, variety and velocity (known as the Three Vs) create issues of storage and visualization that make traditional business intelligence systems unstable. Big Data is thus a business intelligence issue, not an analytics issue. Our focus for this lesson, then, must exclude Big Data

  How job analytics interests us

Once you know you are interested in analytics, the question is, “What kind of analytics job is right for you?” Get an idea about the analytics jobs out there by typing “Analyst”, “Analytics” or “data scientist” in job forums such as LinkedIn, Icrunchdata.com or Monster. Below are some of the key job titles you will find, mapped to three major job categories. I will discuss differences in these job categories a little later. Note: If the title includes “Analyst” but the job doesn’t require analyzing data, then it is not an analytics job. For example, a “Business Process Analyst” does not have an analytics job and we will not be talking about those careers here.

From the chart above, take for example, Marketing Analyst. Most jobs with that title fall in the Business Analytics Professional job category. Some of these positions need advanced analytics skills and thus fall under the Predictive Analytics Professional category. Data Scientist, on the other hand, is used very broadly and vaguely with jobs falling under all three categories.Some data scientist job descriptions seem to seek applicants strong in all.

 

Adopted from : Forbes/Tech.

Such study will help you to be a Business Analyst. In today’s complex business environment, an organization’s adaptability, agility, and ability to manage constant change through innovation can be keys to success. Traditional methods may no longer lead to reaching objectives when economic conditions are unfavorable. That’s where business analysis comes in. Corporations achieve goals through projects that translate customer needs into new products, services, and profits. Business analysts can make it all happen more efficiently and effectively.

The business analyst's primary objective is helping businesses implement technology solutions in a cost-effective way by determining the requirements of a project or program, and communicating them clearly to stakeholders, facilitators and partners

Requirements Are the Core of the Business Analyst’s Role

Business analysis training teaches requirements management – one of the core skills of business analysts. Developing technical solutions to business problems, or to advance a company’s sales efforts, begins with defining, analyzing and documenting requirements. Managing requirements at the project level can help fulfill business needs.

Business analysts typically take the lead role in:

Assisting with the business case

Planning and monitoring

Eliciting requirements

Requirements organization

Translating and simplifying requirements

Requirements management and communication

Requirements analysis

 

Skilled business analysts also use requirements to drive the design or review of test cases, process change requests, and manage a project’s scope, acceptance, installation and deployment.

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But very briefly it is the basic rule and very important to the success of the business

Today’s Business Analyst

The 21st century business analyst’s world is multifaceted. As a mediator, moderator, connector and ambassador, the business analyst must bring the business needs together with IT resources. Successful business analysts tend to be clear communicators, smooth facilitators, precise analyzers and team players. Plus, the ideal analyst has the versatility of various business functions, such as operations, finance, engineering, technology or architecture. Jay Michael, a business analyst for Colfax, agrees that the business analyst role is fuzzy at many companies. He says, "I usually describe what a BA does by telling people I am a bridge between business systems from the end user to functional implementation of technical solutions. But when you tell somebody that they look at you like ’OK, what do you really do?’"

What Does a Business Analyst Do?

As you explore the business analyst career path, you’ll need to clear up the confusion and learn about the many hats business analysts wear. From being a good communicator and data analyzer to possessing project management and technical skills, business analysts regularly use a variety of techniques. They are the bridge that fills in the gap between each department throughout every step of development. Modern Analyst identifies several characteristics that make up the role of a business analyst as follows:

• The analyst works with the business to identify opportunities for improvement in business operations and processes
• The analyst is involved in the design or modification of business systems or IT systems
• The analyst interacts with the business stakeholders and subject matter experts in order to understand their problems and needs
• The analyst gathers, documents, and analyzes business needs and requirements
• The analyst solves business problems and, as needed, designs technical solutions
• The analyst documents the functional and, sometimes, technical design of the system
• The analyst interacts with system architects and developers to ensure the system is properly implemented
• The analyst may help test the system and create system documentation and user manuals

Starting Your Career as a Business Analyst

Beginning business analysts need to have either a strong business background or extensive IT knowledge. With that, you can start to work as a business analyst with job responsibilities that include collecting, analyzing, communicating and documenting requirements, user-testing and so on. Entry-level jobs may include industry/domain expert, developer, and/or quality assurance. Within a few years you could choose to become a Subject Matter Expert (SME). This is the time to delve into the areas that interest you most and develop those areas that can help you progress into higher management positions.

Moving Up the Ladder

Once you have several years of experience in the industry, you will reach a pivotal turning point where you can choose the next step in your business analyst career. After three to five years, you can be positioned to move up into roles such as IT business analyst, senior/lead business analyst or product manager. The more experience you have as a business analyst, the more likely you are to be assigned larger and/or more complex projects. After eight to 10 years in various business analysis positions, you can advance to chief technology officer or work as a consultant. You can take the business analyst career path as far as you would like, progressing through management levels as far as your expertise, talents and desires take you.

How Much Do Business Analysts Make?

Depending upon which business analyst career path you choose, you’re certain to benefit from a highly rewarding and lucrative career. To give you an idea of how profitable this field can be, take a look at these job titles and average salaries, based on U.S. Bureau of Labor statistics, for a variety of business analyst jobs:

Job Title Average Annual Salary Information Security Analyst  $86,170 Computer Systems Analyst   $79,680 Management Analyst  $78,600 Financial Analyst  $76,950 Budget Analyst  $69,280

 

Certification: Your Fastest Route to a Higher Salary and Increased Opportunities

Business analysts who want to enhance their expertise and expand their career options achieve industry-recognized certification. The current leader in business analysis certification is the International Institute of Business Analysis (IIBA®). The IIBA offers the prestigious Certified Business Analysis Professional™ (CBAP®), a designation accomplished by candidates who successfully demonstrate their business analysis expertise. As a candidate, you’ll need to detail your business analysis work experience, and pass the CBAP exam.

Expand Your Business Analysis Skills – and Your Professional Value

One of the best ways to prepare for your CBAP certification is to earn your Master Certificate in Business Analysis from Villanova University – 100% online. Not only will you be able to gain the critical knowledge you’ll need for the certification exam, but you’ll also be attaining a valuable credential that demonstrates your solid understanding of core business analysis skills and shows your career dedication. Throughout Villanova’s online business analysis courses, you’ll learn to:

• Initiate project plans and schedules for requirements
• Identify, analyze and design processes to enhance information flow
• Develop superior strategies for gathering, documenting and reviewing
• Explore advanced data definition, traceability, quality management and other techniques
• Understand methods for dealing with requirements changes and their impact on testing and product quality

Thanks for the invite I agree with the rest of the answers

What is business analytics and its usage

What Does Business Analytics Mean :

• Private banks are using data mining and analytics to compete successfully
• Credit Card companies use analytics to predict customer risk profile and identify profitable segments
• Insurance companies use analytics for risk estimation

This is just a representative list; the scope of analytics is much more than this. Big MNCs are optimistic about the data and business analytics.

“Data analytics is going to be the next big wave that will sweep across the world — and India is going to be right at the forefront of it”, says Manoj Singh, global managing director (operations) at Deloitte Touche Tohmatsu

Mid-sized analytics consulting companies focus on Retail Banking, Consumer Finance, Consumer packaged goods and Retail, Customer Relationship Management and Media.

Examples of Business Analytics

I ran a search on simplyhired.com on keyword “Business Analytics” and I got almost 250000 results.

Interesting point is, these were the openings for fresher with “0” experience. Sounds good? But wait, though these openings were for freshers, they require certain skill set in data and business analytics.

Skills required to succeed in business analytics career

1. Inquisitiveness

Imagine, a huge data about customers’ demographics is given to you and your boss has asked you to come up with meaningful conclusions to design a product.

If you are not curious about the data and the usage of it like why’s and how’s of it, you will not be able to provide the right solutions.

So, inquisitiveness will help you work on huge data sets.

2. Interpretation skills

You are working on huge data and want to find out meaningful solutions which will help in decision making and designing a product or service.

Experience and domain knowledge will help you in interpreting the results.

You can form strategies, products based on your interpretation of the results.

3. Understanding tools and methods

Having knowledge of  SAS and Excel is good.

But, knowing how to apply thoughts,  while analyzing the data (using SAS and Excel) is better! SAS and Excel are tools which every analyst needs.

However, tools will not give you result unless you use your intelligence.

4. Detail Oriented

This skill is important as often while keeping the big picture in mind, people lose track of small details.

5. Quantitative Skills

Business analytics requires you to work with figures. You need to be comfortable with mathematical formulas.

If you are scared of the word “Quant”, then this career is not for you.

It would help in getting business analyst job which is very demanding job in this modern world. 

As a major of study, and as it was detailed by answers, Business Analytic Study will enhance your experience as a Business analyst, and such title or such position is needed nowadays with the growing of international businesses !

 

Thank You

Thanks for invitation,

nice answers

Thanks for invitation

I am apologies to answer this question because it's not my specialist field 

Agree with all expert answers