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The Benefits of a Career in Business Analytics

Business analysts are valued in most businesses, sectors, and domains around the world, including information technology firms, public and private organisations, non-profit organisations and government departments. Business analysts help businesses align their efforts with their main values and help them to work towards a multi-dimensional growth of the business.

You might be under the impression that apart from adding value to the business you work for, there are no other benefits to becoming a business analyst. So, what are the benefits on a personal level and career progression front? Keep reading below to find out why you should consider a career in business analysis:

1.    You Will Have the Opportunity to Network and Liaise with Others

Business analysts are expected to be able to collaborate with people at all different levels of an organisation, from customers to stakeholders. Some of the people you will be expected to network or liaise with include:

  • Project manager
  • Testing team
  • The project development team
  • Clients – users and primary stakeholders
  • Procurement or finance team
  • Higher management – the directors of the company and the program/delivery managers
  • Vendors

Many analysts are expected to travel to meet different clients. They will be expected to understand tricky processes in challenging environments and constantly work towards increasing their network.

2.    You Will Have a Fast-Paced Career

Business analysts in large companies are usually expected to work on a number of different projects at a time. It’s certainly never boring.

You will be expected to:

  • Analyse a business’s requirements
  • Conduct brainstorming sessions with customers
  • Conduct research
  • Manage team members
  • Document technical and functional requirements
  • Perform change control
  • Give presentations to management/clients
  • Attend and document meetings

Sometimes you will have to do a number of these things in the same day.

Due to the number of responsibilities and roles of a business analyst has, they have to be able to manage a number of different parts of a project whilst being approachable and flexible.

3.    A Promising Career and Development Opportunities

Once you’ve gained the necessary qualifications and experience as a business analyst, you will be able to start thinking about your future career. There are a number of roles available to qualified professionals – click here to find out about some of the best jobs available to business analytics graduates.

Many analysts choose to specialise in a specific domain/technology and become functional analysts, or they choose to work as a mediator between technology and business and can become an IT business analyst. Once you have enough experience, you could even consider going into the management side of business analysis – as a project manager.

Business analysts are sought-after professionals who are needed throughout the planning and implementation stage of a project. A career in business analysis will allow you to:

  • Be more flexible
  • Pursue your dreams
  • Achieve your aspirations
  • Work in a role that is highly sought after
  • Increase your earning potential

4.    You Will Be Able to See the Bigger Picture

Most people, irrespective of the business they work for or their domain, will want to see:

  • Their relative position
  • That they are making a difference

However, due to professional limitations, not all jobs can offer this. Business analysts are one of the very few who are able to hold onto the wider view of a project. They are needed throughout a project, including in the:

  • Pre-sales phase
  • Planning phase
  • Design phase
  • Implementation phase
  • Project closure

During these different phases they are expected to:

  • Understand project bidding
  • Understand team dynamics
  • Deal with client correspondence
  • Change management
  • Understand the procurement process
  • Be considered as the face of the project – obviously the project manager is the main port of call in any project, but business analysts aren’t far behind.

5.    Business Analysts are Highly Respected Individuals

Business analysts are often highly respected individuals. One of the main reasons for this is because of the role they play in making sure a project is successful. Business analysts often play a huge role in a project which helps to earn them the admiration and authority they deserve.

Business analysts work alongside functional, technical, managerial and financial teams during a project, and thanks to their techno-functional knowledge and documentation skills, they are extremely useful for the pre-sales/sales team and the technical architects. Many business analysts are expected to give presentations to CEO/CFO/higher management, which helps them to attract attention for their knowledge and insight into the project they are involved with.

There are very few other roles in this industry that enjoy this level of visibility and interaction.

6.    Business Analysts Can Make a Difference

One of the main responsibilities of an analyst is requirement management. Business analysts are part of the change control committee in an organisation. They are expected to:

  • Collect requests for change
  • Assess whether the changes are viable
  • Research and find out what the impacts of the changes might be
  • Tackle problems
  • Review and recommend options
  • Manage and workaround changes to parameters

All of these things help to improve their understanding and help them prepare for any future challenges they may face.

7.    Growth of Skills

Business analysts can benefit from an increase in their communication and soft skills. Soft skills can include:

  • Teamwork
  • Adaptability
  • Collaboration

Business analysts aim to become a bridge between technology and business. This aim leaves them exposed to a number of different circumstances that they have to learn to cope with. This leads to them developing a number of skills along the way. These skills include:

  • Conflict resolution
  • Critical thinking and observation
  • Improved expertise
  • Process management
  • Decision making
  • String work ethics
  • Delegation skills
  • Communication skills
  • Creativity skills

Business analysts are expected to be able to alter the way in which they communicate to suit the person they are speaking to. This helps them get a good grasp over articulation and communication skills.

The skills possessed by a business analyst are often sought after in managerial positions. All of these skills help analysts prepare for the demanding role and responsibility they will be given.

8.    It’s a Lucrative Career

Being a business analyst is a brilliant career choice for people who want to work in a well-paid profession. You can expect to earn around £43,000 per annum in this role. This will only increase as you gain experience.

A career in business analysis brings with it a number of challenges, but the job satisfaction and recognition make it all worthwhile. It’s a tough career choice with a number of options for career progression and exposure, but there are a number of benefits of becoming a business analyst. Why not look into it a bit further?