You may not have realized that business analysts do much more than connect with prospective clients and manage the commercial side of things; they are essential to IT efficiency in organizations of all sizes. Business analysts are there to assist in leading businesses through improvement and optimization processes such as implementing new services, software platforms, and products through data analysis.
The role of business analysts is so important because they exist in a liminal space between IT and sales and are thus able to provide aid and insight to both.
What Are Business Analysts
Business analysts have several responsibilities in large companies – they must try to bridge the gap between business and IT using data analytics. In doing so, business analysts assess business and IT processes, decide what is required for success, and develop recommendations and reports for executives based on the collected and analyzed data.
In doing so, business analysts work with teams on both the sales and IT sides. They try to understand how processes, products, and services need to change and how different tech, such as software and hardware, can help to bring those changes about. These analysts much find a way to communicate these needs in a way that makes sense to business leaders but is grounded in hard data analysis. There are many different roles within the business analyst career, and you can specialize in working on products, tools, software, hardware, services, or processes.
How Business Analysts Improve Business Efficiency
Consider how a business knows whether it is succeeding. For mid to large-sized companies, it will never be as simple as looking at profit and loss to determine how a company is doing.
Instead, when a company wants to trial a new product or service or roll out new software to improve its tech throughout the company, the business will need metrics and KPIs to determine success. The metrics used are typically quantitative and involve aspects such as the number of products or services sold, performance in a specific geographic area, the timelines for delivered projects, and customer satisfaction.
All this information is data that needs to be collected, synthesized, and analyzed. Without proper analysis, reporting, and communication, data sets are nothing more than numbers that the business cannot use.
A good business analyst will know how to collect, manage, and report on data which can then be easily understood by business leaders who will, in turn, use the information to implement the changes needed to boost efficiency or hit other vital metrics.
How Business Analysts Improve IT Efficiency
Business analysts are just as essential to IT leaders in a company as they are to business leaders. They can use data and analytics to determine the strengths, weaknesses, and user trends for software and hardware – this is all extremely valuable information for IT teams that are able to take the information and tweak their products.
In the past, business analyst roles were mostly focused on collecting user data and experiences, analyzing that information, and passing on the important takeaways from their research. Increasingly, business analysts are taking on product ownership roles. They are managing teams to ensure that IT and digital software development goes smoothly while also ensuring that the team is on track to meet commercial goals.
Companies that can assign business analysts to tech projects can boost a team’s efficiency by ensuring that the tech team will not become overly focused on minor, specific aspects of the work and will instead stay on task and focused on hitting the metrics and goals of the project. Essentially what this does is help to boost the overall efficiency of the team and maintain consistent performance levels throughout a project.
Jumpstarting Your Career With Applied Statistics
If you are interested in potentially trying out a career as a business analyst, you may need to upskill or go back to school. One of the most popular degree paths for this career is applied statistics because it allows individuals to collect, synthesize, and analyze large amounts of data.
Data collection and presentation are incredibly important to companies because it is how a company can track its success. Without clear, well-presented data, it is difficult (if not impossible) for a company to determine whether a particular service, venture, product, or project has been successful.
If you want to enter the field but are unsure how to go about it, you should consider pursuing a Masters in Applied Statistics from MTU. The entire course is online, so you can complete coursework on your own time without worrying about the constraints and demands that traditional in-person schooling place on students.
The MTU Masters in Applied Statistics gives students a grounding in advanced statistical methods, problem-solving, programming, and technology. Crucially, the program also teaches students communication and leadership skills – this is what sets it apart and makes it an excellent option for those interested in business analyst roles. Business analysts need to be able to manage the interpersonal aspects of the sales side of the job; therefore, communication and leadership skills are essential.
A Varied Career Path
Becoming a business analyst is a great option for those who want a career in which they are continually challenged and find that no two days are ever really the same. People who are good at being business analysts are able to work with multiple types of people and change their communication styles accordingly. As these analysts continually jump between roles, their career is varied, engaging, and dynamic.
Not everyone will be interested in a job that continually requires you to wear multiple hats and speak with people from several different teams and departments. Still, the right person will find this sort of role stimulating and challenging.
If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.