Business Analyst: What You Need to Know About This Profession

The success of any business depends on a well-chosen development strategy. Such strategies are developed by a business analyst who:

• explores data;
• generates ideas for qualitative changes in business operations;
• suggests possible options for their implementation, guiding the work of a group of specialized specialists (team).

The International Institute of Business Analysis calls these specialists “change agents.”

In this article, we'll discuss the tasks a specialist in this field must perform, who can master this profession, and what skills are needed to achieve professional success. We'll also provide salary data for business analysts.

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What does a business analyst do? Specifics of the profession

A business analyst identifies business problems and proposes solutions. For clarity, the essence of their work can be compared to, for example, purchasing a lawn mower: the buyer doesn't need the machine itself, but rather a smooth lawn.

The business analyst's job is to determine the desired outcome for the client (increase profits, improve customer service, etc.) and select the most effective solutions to achieve these goals.

These goals may be determined by:

• internal aspects of the current state of the business;
• influence of the external environment;
• transformation of the market in which the company is represented, etc.

By and large, a business analyst must keep their finger on the pulse of a company's business processes and respond to any changes in this "pulse."

The global business goal is universal—the benefit the company will receive after implementing an effective solution. To achieve this, a business analyst (either a company employee or an external project participant):

identifies and records organizational development needs;

generalizes and classifies them;

conducts analysis;

recommends a solution and justifies its feasibility;

participates in the detailed development of changes;

oversees the implementation of solutions.

A business analyst's work is closely related to the marketing department. Specialists in this field record and study external factors that impact a company's business. Business analysts, in turn, identify business needs and can explain the causes of any changes in its status and propose solutions to optimize the company's operations.

For more detailed information on the importance of business analytics for entrepreneurs and on services for performing business analysis, read ourarticle.

What tasks does a business analyst solve?

Let's look at the tasks of a business analyst using a simple example.

Let's say an IT company received a contract to create an effective corporate website. While discussing the project details, it became clear that the client had an old website and wanted to transform it. But not just by changing the design: the goal was to create a more user-friendly web service with additional features for the client's client base.

• The contractor builds its work using the Scrum method, which involves the use of team efforts.
• Each stage of order completion (the so-called “sprint”) lasts 10-12 days and ends with a presentation of the new project block to the customer.
• If problems arise or there is a need to discuss controversial issues, everything is resolved during the work process.

The task of the business analyst in this case is to organize such a process.

His responsibilities include:

• analysis of the client's problem and identification of his true needs;
• search and proposal of solutions to the problem (creation of new models for the implementation of effective business solutions);
• interaction with the IT department and preparation of detailed technical specifications for specialists from other areas;
• determining the deadlines for completing each task;
• Working closely with the finance department to develop strategies that optimize costs and improve imports.
• organizing negotiations with the customer and discussing controversial issues;
• product testing (if necessary).

Another important competency of a business analyst is monitoring the relevance of information: what was important a day or two ago may lose its significance at the current moment in time.

This specialist is also responsible for the correct implementation of technical solutions. The business project analyst's work serves as a bridge between the development team and the client.

What skills should a business analyst have?

A business analyst's job is to find solutions to transform abstract ideas into concrete tasks. This requires the ability to not only listen and hear the client, but also ask the right questions.

For example: 

1. What business problem needs to be solved by the project being launched?(You need to have a clear idea of ​​what the client really wants)
2. What has already been done to solve the problem, but did not bring the desired results?(It's important to know exactly what didn't work so you can find new ways to achieve your goals.)
3. What does the result of these new efforts seem like?(It is important to understand that you and the client have the same vision of the end result; consistency of views is important)
4. What risks do you foresee and are you willing to take them?(A conservative client may be averse to taking big risks: being more specific can help when creating a project program)
5. Do you have any time limits?(This is necessary to know for proper planning of work processes)
6. Who is the end user of this and what support will they have?(The goal is to achieve a goal that satisfies everyone: both the customer and his clients)

Many clients don't have time to discuss details: they simply outline an idea and say they rely entirely on the contractor. It's best to avoid such situations, as the client's vision for the solution may differ, and ultimately, the client may refuse to accept and pay for the work.

So, communication with the client, clearly articulating the “image” of the final goal is a prerequisite for successful cooperation and professional maturity.

So, a business analyst is a specialist who:

➤ has analytical thinking: he knows how to formulate questions, analyze information, compare data and find connections between them;

➤ Ability to work with large volumes of information and communicate it clearly to all participants in the work process. For this, it is important to know the BPMN (Business Process Management Notation) system of symbols for business process modeling and to know how the Scrum method works.

➤ knows how to prepare presentations (visualize information using diagrams and charts, structure it by creating blocks and categories) and compile reports using PowerPoint or other similar programs;

➤ learns quickly and understands the intricacies of key processes in different types of businesses and understands which IT systems are best to use;

➤ knows English at a level of at least B2, which allows one to freely discuss necessary technical issues with other project participants and stay abreast of current global trends (by the way, knowledge of English is in many cases one of the main requirements for an applicant);

➤ Proficient in persuasion techniques and negotiation skills. Helps build trusting relationships with clients.communication skills (soft skills). 

How to become a business analyst 

• IT professionals with strong technical knowledge and an understanding of the IT industry's inner workings have the potential to become successful business analysts. Testers and developers often transition to business analytics, interested in understanding the specifics of a particular industry and mastering communications.
• Other businesses (without a specialized IT education) have just as good a chance of success. A business analyst can be mastered by someone with an in-depth understanding of business processes, experience in negotiations, and the ability to effectively communicate with clients. You can learn the necessary algorithms and gain technical knowledge through training courses, business school, etc.

Business analyst salary

According to the DOU information and analytical portal, business analyst salaries increased by an average of $320 in 2020. This is the best indicator among other IT-related professions.

Business Analyst salaries in major cities of Ukraine:

Comparison of Business Analyst salaries with Research Engineer, Data Scientist, and Data Analyst:

Salary level depending on experience:

• less than a year

• 5 years

• 10 years

Average salary, according to work.ua:

Prospects

In the future, a good business analyst can go further and retrain as:

• Business Architect through deepening of systems analysis;
• Program Manager or Technical Director, if you want to grow as a manager;
• Business Process Consultant specialist and engage in business process automation;
• Middle, Senior and Team Lead (if you wish to advance through the vertical levels).