What Skills Will You Learn In A Business Analysis Course?
Business Analysis Helps Businesses Do Business Better.’
- IIBA (International Institute of Business Analysis)
To attain a competitive edge in the market, businesses are trying to take advantage of every tool and resource that is reachable to them. Businesses are required to make smart decisions in order to thrive in the extremely competitive world. The key to these smart decisions is reliable and usable information.
What next? Businesses need business analysts to get this done!!
Business Analysis refers to the practice of bringing change in the context of an organization, by defining business requirements and making recommendations regarding solutions that are capable of delivering value to stakeholders.
The set of techniques and tasks that are commonly used to perform business analysis are defined in a guide issued by IIBA (International Institute of Business Analysis) and is called A Guide to Business Analysis Body of Knowledge (BABOK Guide).
The need for useful and actionable information by organizations across the world has increased the demand for trained, skilled, and qualified business analysts across every sector.
Did You Know?
The global business analytics market is projected to grow at a Compound Annual Growth Rate or CAGR of 7.3%, from USD 67.92 billion in 2019 to USD 103.65 billion in 2025.
A list of top ten skills that companies are looking for, was released by LinkedIn, listing Business Analysis as one of them.
It is expected that there will be 14% growth in the jobs for Business Analysts across the world by 2028.
By some estimates made by IIBA, there are going to be 2.72 million jobs for business analysts this year.
So, the right time for learning business analysis by taking up online training courses is NOW!
This article will let you know about the business analysis process and the skills you will acquire with a business analysis course.
What Is A Business Analyst?
As defined by IIBA, Business Analysts are considered as ‘agents of change’. Business Analysis is a systematic approach to introduce and manage change to organizations irrespective of their type which may be profits, non-profits, or government agencies.
Business Analysts come under various job titles that include:
- Business Systems Analyst
- Requirements Engineer
- Systems Analyst
- Process Analyst
- Product Owner
- Product Manager
- Business Architect
- Enterprise Analyst
- Management Consultant
- Data Scientist
- Business Intelligence Analyst
And many more.
Some other job titles that require business analysis as the most crucial skill are software development, project management, quality assurance, etc.
Business Analysts are involved in identifying and articulating the need for change in the way organizations work and eventually facilitate the change. So, as a business analyst, you are required to identify and recommend the solutions in order to enhance the value that a business delivers to its stakeholders.
You need to work across different levels of an organization and also involve yourself in everything that may begin from defining strategies to developing an enterprise architecture, to defining the requirements and objectives for projects and programs by taking a leadership role or to support consistent enhancement in processes and technologies.
Business Analysts typically possess specialized knowledge to act as a guide and take the business strategy through an unknown path and make it attain the desired destination. You are required to identify new opportunities for your business, work towards improving benefits, avoid unnecessary costs, understand the required capabilities, and create a model of the organization.
You have to work closely with members of other departments of the business to report their findings and make changes happen.
The typical tasks and responsibilities of a Business Analyst are:
- Identify and prioritize the functional and technical requirements of an organization
- Utilize Excel and SQL to analyze huge data sets
- Compile tables, charts, reports, and other items of data visualization
- Build finance models in support of business decisions
- Clearly understand business requirements, objectives, and strategies
- Plan the structure or enterprise architecture of the business
- Estimate and budget by performing financial analysis as well as variance analysis
How To Become A Business Analyst?
To become a Business Analyst, you need to acquire some skills and earn some important credentials that apply to the industry you wish to work in. Training courses, degrees, or certifications make a clear pathway to becoming a Business Analyst.
Taking up an online training course by Simplilearn is the best way to become a Business Analyst. This online course is designed to help you acquire the required skill set, learn to tackle complex and difficult business problems using popular business analysis tools.
The skills you will gain with this course are:
- Business Acumen: you will acquire a solid foundation of accounting, finance, and business principles so that you can identify the existing operational issues, and the best ways to address them.
- Data Analysis: the core of the business analysis is collecting, tracking, and analyzing performance metrics. You will get a fine grip over data analysis and data visualization tools including Tableau, and Excel. You will also learn some basics of SQL.
- Business Analysis Methodologies: this course will make you learn the basic concepts of some specific methodologies including Six Sigma, Agile Business Analysis, or Rational Unified Process.
- Industry Expertise: the best part of this course is that it enables you to master industry-relevant skills. The needs and challenges of every industry are different. Industry experience can provide you with a competitive edge.
- Communication: regardless of the industry you work in, you will be required to possess excellent communication skills in both verbal and written aspects. This course covers making you learn modeling and reporting skills as well to ensure that there is no stone unturned in your preparation.