The skills of a Business Analyst are rooted in two primary areas, which are business administration and data analysis. Business analysis can be seen as the intersection between these two fields.
Business Analysts can be likened to translators who convert raw data into valuable insights for businesses. As a result, their skill set is exceptionally broad, encompassing both of these realms.
Related Article:
- 10 Creative Business Websites to Increase Sales
- How to Analyze Competitor Website SEO
- The Rise of Staffless Stores: Revolutionizing Retail Business
Skills for a business analyst
Business analysts require a diverse range of technical abilities or hard skills, such as:
1. Business management
To start with, it is crucial for Business Analysts to have a solid grasp of essential business concepts. This includes understanding the relationship between IT systems and business processes, as well as having knowledge of various fundamental aspects of running a business.
These aspects may include budgeting, cost-benefit analysis, organizational charts, variance analysis, customer relations, and more. Ultimately, this understanding informs the development of effective business strategies.
2. Analysis of data
Apart from possessing basic skills in data analysis such as proficiency in advanced Excel and familiarity with SQL, it is important for Business Analysts to have expertise in using modeling and visualization tools like Tableau, as well as some experience in programming languages (learning Python can be particularly beneficial).
Additionally, Business Analysts should feel at ease with all aspects of research and data analytics as they relate to business management. This encompasses tasks such as writing elicitation requirements, conducting object-oriented analysis, performing gap analysis and different types of statistical analyses, creating risk-management projections and financial forecasts, and conducting testing for verification and validation purposes.
3. Technology
A Business Analyst should have a broad understanding of technology, which includes knowledge of how computers work and the fundamental principles of information systems and engineering systems. They should also be skilled in using various Microsoft Office tools such as Excel, SharePoint, and flowchart-maker Visio. Additionally, proficiency in programming languages like Perl and VBScript, and particularly in SQL, is essential for a Business Analyst.
4. Record-keeping
The tasks of organizing and documenting data are closely connected to data analysis. These tasks include writing documents such as business requirements documents (BRDs) and other technical specifications. Additionally, projections, plans, and analysis reports can be created based on the research conducted.
Soft skills are important for business
In addition, Business Analysts should possess a strong set of interpersonal skills, which are often referred to as soft
1. The ability to find solutions to problems and think critically
Business analysis is a process that requires finding solutions that may not be immediately apparent. This means that it can be challenging to determine the best approach to uncovering the solution or even identifying the problem itself.
It requires logical thinking and a level of creativity to effectively understand and define problems in a manner that will ultimately result in a satisfactory solution. While it may not be something that can be taught explicitly, it is a skill that can be developed through practice.
2. Communication
Although the role of a Business Analyst involves technical aspects, it does not solely involve interacting with computers. In fact, it requires effective communication with all stakeholders, which necessitates strong listening skills and the ability to ask pertinent questions.
Additionally, speaking skills are essential for tasks such as collaborating with team members, conveying requirements to developers and IT personnel, engaging with users, and delivering presentations to leaders and clients. Each group requires a different language and approach to effectively communicate.
3. Organization and time management
It is undeniable that being a Business Analyst requires exceptional organizational and time-management abilities. The responsibilities of a Business Analyst vary greatly from day to day and week to week, as they are constantly juggling multiple tasks that have different deadlines. Therefore, ensuring that one’s own work life is well-organized is essential for performing effectively in this role.
4. Negotiation
The role of a Business Analyst involves managing risk and making business decisions, which often requires making compromises. When working as a consultant, Business Analysts cannot simply dictate what needs to be done, but instead rely on persuasion to encourage the acceptance of their suggestions.
This can be particularly challenging when it involves convincing stakeholders to give up certain things in order to reach a compromise. Negotiation in this context involves convincing people with opposing objectives to embrace a broader vision. Having a thick skin can also be helpful in this role.
Those are some skills for business analysts that you need to hone to be able to compete with others.
