A business analyst is an individual who statistically analyzes large data sets to identify effective ways of boosting organizational efficiency. Using data analytics, a business analyst derives meaningful insights to help improve business decisions.
While a business analyst acts as a liaison between IT and the executive branch, understanding analyzed data to drive business decisions, they don’t always fall under an IT job. If a business analyst has specialized in the IT field, then they are known as IT Business Analysts.
The three main roles of a business analyst are to analyze data models and derive logical conclusions, develop innovative solutions for operational and strategic changes, and budget and forecasting to ensure that costs do not exceed the limit.
The average salary for a business analyst based in the USA is around $73,945 annually.
A business analyst analyzes large data sets to identify effective ways of boosting organizational efficiency. Using data analytics, they derive logical conclusions and forecasts from implementing strategies that can improve business performance.
The basic responsibilities of a business analyst include working with colleagues and stakeholders to gain an in-depth understanding of critical business requirements; analyzing data models to deliver logical conclusions; developing innovative solutions for operational and strategic changes; being proficient in inventing processes or systems; and conducting tests, surveys, and workshops to ensure positive outcomes.
A good business analyst is a strong communicator, problem solver, and critical thinker. They are required to come up with innovative and out-of-the-box solutions to problems.
Business analysts work with upper management, colleagues, and stakeholders to ensure that all parties are okay with implementing solutions.
The 3 most important skills that a business analyst should possess are good communication, innovation, and being a problem solver.