Contents
- Role of a Business Analyst
- Main Responsibilities
- Key Skills of a Business Analyst
- Pros and Cons of the Profession
- Demand for the Profession
- Salary of a Business Analyst
- Where to Study to Become a Business Analyst
Role of a Business Analyst
A business analyst is a professional who studies and evaluates business processes and then helps the company optimize them to improve overall efficiency. The main task of this specialist is to identify problems and growth opportunities in various aspects of the business, such as finance, marketing, logistics, technology, and human resource management. Working in these areas, the business analyst analyzes the current state of affairs and collaborates with other specialists to develop solutions, which are then monitored during the implementation stage.
For example, if an organization plans to invest in employee development by funding courses and consultations, the business analyst may conduct a feasibility assessment of these expenses by analyzing the potential impact on productivity and the risks associated with such changes. This includes gathering data on necessary resources, assessing the impact on the work atmosphere, and determining key performance indicators.
Main Responsibilities
Process Research
The first step for a business analyst is to conduct a thorough study of all key operations within the company. This includes analyzing products, logistics, and the interactions of various teams. When transitioning from one area to another, the specialist will need to familiarize themselves with new information and the specifics of that market.
Identifying Problems and Formulating Hypotheses
The business analyst conducts interviews with managers and teams, analyzes business metrics to identify problem areas and growth opportunities. Then, they develop hypotheses for improving metrics together with other specialists, such as developers, to address technical issues.
Setting Specifications and Reporting
Once the hypotheses are formulated, testing of the solutions begins. Either the project manager or the analyst is responsible for distributing tasks and monitoring their completion. At the end of the process, the specialist prepares reports illustrating the results of the analysis and presents them to management.
Key Skills of a Business Analyst
Professional Skills (hard skills)
- Methods of business process analysis
- Use of analytics tools such as Tableau and Power BI
- Formulating business requirements
- Business design and process modeling
- Maintaining documentation and preparing reports
Personal Qualities (soft skills)
- Responsibility for the decisions made
- Communication skills for working with teams and clients
- Concentration and patience when analyzing large volumes of data
Pros and Cons of the Profession
Pros
- High salary and demand in the job market
- Wide range of industries and companies to work for
- Opportunity to influence strategic decisions
- Working with interesting people and the chance to communicate with management
Cons
- High competition in the job market
- Need for continuous learning and adaptation to new conditions
- Stress and high responsibility
- Risk of emotional burnout, especially for introverts
Demand for the Profession
The demand for the profession of business analyst continues to grow. For example, over 6000 job vacancies are listed on the hh.ru portal. Specialists are particularly needed in technology companies and startups operating in the fields of IT, marketing, and finance. The opportunities for remote work also increase the attractiveness of this profession, as many companies offer flexible working conditions.
Salary of a Business Analyst
According to BGStaff, the average salary of a business analyst in 2023 is around 120,000 rubles, but this figure can vary significantly. Interns can expect to earn 25,000 to 50,000 rubles, while specialists with over five years of experience can earn 250,000 to 300,000 rubles. In large cities like Moscow and St. Petersburg, salaries can reach 400,000 to 500,000 rubles.
Where to Study to Become a Business Analyst
For a successful career in this field, a university education in economics, management, or IT is most suitable. Some universities offer specialized programs in "Business Analytics." Online courses, such as those offered by Skypro, are also available, teaching the necessary skills for analyzing and optimizing business processes.
It is important to understand that a successful business analyst must not only know the industry but also keep up with the latest trends and changes within it, which requires continuous learning and self-development.