• Introduction
  • What does a Business Analyst do?
  • Is Business Analytics a good career path?
  • What are the advantages of choosing Business Analytics as a career?
  • Average Salary of a Business Analytics Professional
  • Few excellent career opportunities for Business Analytics
  • How can Business Analysts move up in their careers?
  • Takeaway

 

Introduction

It is an exciting time for budding Business Analysts, with the profession’s prospects skyrocketing in recent years. It has become a very lucrative field to break into. Microsoft and Google organise annual events to encourage more people to join this ever-growing Big Data movement.

The increasing demand for Business Analysts jobs will only continue soaring high up into the next decade- unless someone comes along inventing something better.

In this blog, we discuss all you need to know about the business analytics career path.

 

What does a Business Analyst do?

In recent years, there has been an upsurge in collecting and analysing large amounts of data from many sources; this revolution will be one that every company must be part of if they want continued success when it comes to running their businesses effectively.

Big data is massive, and you need more than just simple numbers. With trillions of data out there, it will only make sense after some analysis. Data is a great asset for any company, and to process and utilise these raw data sets, they need business analytics professionals.

Business Analysts have access to the most valuable resource of any industry – data. They are able to provide critical insights into a business’s performance and support stakeholders’ decision-making with confidence.

A career as a Business Analyst puts you at the forefront of higher management, where your decisions will shape company policies and its path to success.

 

Is Business Analytics a good career path?

It is. Business analytics is a great career option irrespective of which industry you choose to work with. It is apt for:

  • Freshers
  • Aspiring Business Analysts
  • Working professionals who want to switch to a new career path

A Business Analytics career can take you to newer heights.

The demand for Business Analysts is growing. With the increase in demand, the salary is naturally going to increase as well. According to a study conducted by IBM, about 39% of job vacancies in data science and business analytics require applicants to have at least a Master’s degree. (Source)

What are the advantages of choosing Business Analytics as a career?

  • Learn advanced technology
  • Improved decision-making
  • Relevant job sector
  • High salaries

 

Average Salary of a Business Analytics Professional

India Today quoted that the average salary an Analyst gets is INR 11 Lakhs per annum (Source).

Salary for a Business Analyst varies as per the work experience in this field.

That said, a Business Analyst’s average salary in India can be a little over INR 6 Lakhs per annum. (Source)

You can build a stable career in business analytics in India and internationally.

 

Few excellent career opportunities for Business Analytics

There are many career opportunities across industries for aspiring young or experienced working professionals.

Analysts are needed in all departments:

  • Sales Analysis
  • Financial Analysis
  • Marketing Analysis
  • Human Resources
  • Client Services
  • Product Cycle Management

 

Start a career in Business Analytics – skills needed.

  • In order to kick-start your business analytics career, you must be proficient in mathematics and statistics.
  • You should have a good grasp of the latest programming languages, frameworks and databases like Python, SAS, Hadoop, or R. Companies are using them today for various tasks such as data analysis and visualisation tools.
  • In addition, you will be using Intelligence & Visualisation Tools when working with customers who need assistance in interpreting their findings from these programs and making strategic decisions based on them.
  • Most importantly, you should have an analytical mindset and good communication skills because you will be working with important decision-makers.

 

How can Business Analysts move up in their careers?

A business analytics career is a vast and ever-changing landscape. There are so many avenues for you to take in your future, but one thing is for sure: there will be no shortage of opportunities or challenges.

A Business Analyst can choose from the following disciplines-

  • Market Research
  • Data Management
  • Data Analysis
  • Technology Strategy Planning/Execution
  • IT Security
  • Financial Forecasting and Decision Support Systems Development
  • Project Management

All of these, while using analytics tools such as SAS, R, SPSS, and Pivot Table Tool, among others.

So, what does this mean?

You have inherent flexibility with job content within these fields as companies offer opportunities where you are allowed creative freedom alongside technical expertise.

Ultimately, you have control over where your career as a Business Analyst goes from there.

 

Takeaway

Business analytics is one of the most flexible careers in existence. You can work as a Data Scientist, Solution Architect, or be an analyst with Leadership Skills. Increasingly, Business Analysts are being hired for consultancy positions, and such employees have immense flexibility, thanks to their diverse skill-set.

A career in business analytics is the future. It’s a career that demands technical skills and leadership qualities because it requires understanding patterns or data to help businesses make decisions for their organisations.

Businesses are on the lookout for fresh thinking minds. A business analytics career path can put you in a fast-paced and exciting environment where you would be working with your organisation’s leaders from the get-go.

Business analytics is a profession that encourages you to think different and big- it is challenging but rewarding. Do you think the same? Write us your thoughts on it below.

 

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