A Business Analyst is considered a professional who helps organizations in improving their performance by assessing and monitoring their business solutions. The role of a business analyst has now become very important in recent years. These days businesses have increasingly become aware of the importance that the performance appraisal process plays in making data-driven decision-making.
Requirements Of Becoming A Business Analyst
Here are a few requirements that are needed in order to become a Business Analyst:
- There is no particular educational requirement needed for business analyst careers. At the same time, the majority of the analysts do have a bachelor’s degree in a relevant field of business, computer science, or even economics. Many analysts have a master’s degree in the course of Business Administration or any other related field.
- Some of the common experiences that may be required include working with analytics and data, as well as being an expert in business process improvement or project management.
How To Become A Business Analyst?
The best of becoming a Business Analyst dramatically varies depending upon individual experience and skillset. However, in some ways, becoming a business analyst include studying of analytics and business in college.
Or even pursuing a Master’s degree in business administration or Analytics, Market research or even Management Consulting. One also has the option of becoming a business analyst by taking specific certification courses that are offered by organizations out there.
Best Business Analyst Career Paths
Here is a list of the best career paths:
Data Analyst
A Data Analyst is a professional who is responsible for making an analysis on data that can provide insights which can be used to make better business decisions. The average salary in the US for working as a Data Analyst is $69,151.
Business Analyst Manager
They are professionals who are in charge of taking lead and coordinating with a team of business analysts. These managers are responsible for ensuring that their team works together effectively and efficiently in order to support the business goals of an organization. The average salary for working as a Business Analyst Manager is $111,831.
Tip: Customer service career path is a great alternative to choosing this path for a career.
Project Manager
A Project Manager is mainly responsible for the successful formulation, planning and execution of a project. They work in a team of experts to make sure that all aspects of the project are being completed on time and within the allocated budget. The average salary for working as one in the US are $78,340.
Test Analyst
A Test Analyst is a person who is mainly responsible for the designing, implementing and then execution of tests, which are then used for ensuring the quality of the software products. The average salary for working as one is $112,573.
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Portfolio Manager
They are responsible for overseeing of the investments of a portfolio and making sure that it is performing well. They also ensure rebalance the portfolio as and when required in order to keep it on track. The average salary of working as one is $78,016.
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Quantitative Analyst
They make use of statistical and mathematical techniques to analyse data and for solving of problems. The average salary of a quantitative analyst is about $149,642.
Business Consultant
A Business Consultant is a person who helps organizations in improving their performance. They offer advice on ways of improving the business operations, boosting profitability and increasing efficiency. There are many business consultants who are self-employed and work with different types of clients. The average salary of working as a Business Consultant is $75,465.
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FAQs:
Here are a few frequently asked questions regarding becoming a Business Analyst:
- Does One Need An MBA For Becoming A Business Analyst?
A: In several of the top and reputed IT organizations, an MBA or a degree equivalent of that is mandatory for the role of a Business Analyst. The Salary brackets also differ depending on whether a candidate is an MBA or Non-MBA.
- Is Coding Required For Becoming A Business Analyst?
A: The ability to code is very beneficial in a career of Analytics. Being able to write code is not something that is necessarily required, though, for working as an Analytics professional.
- Is Excel Required For A Business Analyst?
A: This field relies on having the knowledge of working of many tools and applications in order to handle data, but the one that is crucial to know is Excel. The majority of analyst professionals use Excel.
To Wrap It Up!
That was all for information regarding the career path for becoming a Business Analyst. Thank you for reading up till here. I hope you found the information useful. Let me know in the comments your thoughts on the same.
Author Bio:
Oriana Raven is a professional content writer with 3 years of blogging experience. After graduating from Princeton University in California, She began her career as a blogger. She writes for a number of well-known blogs, including WP Blogger Tips, smartbusinessdaily, mashummollah, blogstellar onlinehealthmedia. She enjoys writing to multiple international journals and magazine articles. Besides She likes listening to song, watching movies in her free time.
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