As the name suggests business analytics is a merger of two disciplines namely business intelligence and data analytics creating an independent discipline which requires a specialized skill set. You do not need an expensive degree from the best universities to succeed as a business analytics professionals. If you are equipped with analytics skills and in depth knowledge of business processes of your company, you can figuratively rock in the role of a business analytics professional.
Understand the role
Business analytics is discussed less frequently and less diligently than its cousins like business intelligence, data science and data analytics. This gives rise to a lot of confusion among the enthusiasts. Let us see if we can put an end to the confusions.
Business intelligence involves creating a bridge between the clients and the developers; understanding and managing the requirements and monitoring the business processes.
Data analytics professionals concern themselves with the secure storage, filtration and analysis of organizational data and data from other sources.
A data scientist’s job is to find patterns in the data to solve certain problems.
And finally, a business analytics professional works with available data to understand the position of a company in the market and participates in the development of business processes with the aid of data driven insights.
I hope you can clearly see the difference – business analytics needs you to be as comfortable with your numbers and codes as with your understanding of business processes.
The very existence and growing popularity of this role shows you how the industrial workforce is embracing multidisciplinarity
Know the steps
So, first of all you engage in a descriptive analysis of the business processes: You go through the enterprise data to find out how things have been running. Try to decipher patterns in sudden changes in business.
Secondly, you try to figure out how things will run if the processes are left unchanged and what are the possibilities if a certain metric is changed.
Thirdly, you communicate with the rest of the company. Let the stakeholders know what is needed; help them raise the flags, red or green.
Your every move will be determined by data driven insights – there is hardly any place for intuitive decision making in the field of business analytics.
Be the bridge
As a business analyst in 2019 you cannot but be a tech savvy, number crunching, multitasking jack of all trades. You will have to sift through data with the help of advanced analytical tools to find out the gaps and help administer the necessary changes. You should have the answers for both the developers and the clients. Your job is to understand what is required and make the stakeholders understand to the best of your ability. Now, the best of your ability can definitely change with the tools you are using and the level of expertise with which you are handling them.
A good business analyst can analyze and represent business data to find out the most profitable course of action, work as a communicative bridge between the developers and the stakeholders, recognize and act on the market trends.
A lot of positions are vacant, career prospects are great; all you need is to start with a business analytics online course.