A business analyst job description is widely known for improving a company’s performance and competitiveness in various ways.
As such, their key purpose is to address the company challenges and solve its problems by constantly reviewing, assessing and developing business processes.
The business analyst job description is bound to vary as s/he may be required to take up different roles within the company. But generally, a business analyst will be involved in:
- Defining problems within a company
- Collecting and analyzing data pertaining to it
- Evaluating the company’s procedures and processes
- And, recommending and deploying strategies that will help in solving the issue
The Various Business Analyst Job Description Roles
Although a majority of business analysts specialize in a particular field, such as IT, telecommunications, supply chain management, finance or marketing, a few do find themselves overseeing a wider industry within a business. The latter mainly applies when one is working within a small business environment. Regardless, below is a short description of the business analyst career in different fields:
Software Business Analyst:
Will serve as a conduit between executives and the software developing team as a way to communicate the needs and requirements of each side. The executives will provide what’s required in the project to the business analyst who will then communicate that to the software team. Any obstacles or issues from the software side will be communicated through the BA to the executives and the BA will work to find a solution to those problems that satisfy both sides.
Financial Business Analyst:
The main tasks for financial business analysts include organizing financial data that can be then be easily presented to executives. They assess cash flow and income statements and calculate the organizations finances in order to figure out whether certain projects are financially feasible. They also attempt to forecast future revenues and costs the organization is expected to receive. The financial business analyst profession is expected to grow by 16 percent which is faster than the national average.
Healthcare Business Analyst
Just like in other industries, a business analyst in healthcare should improve the profit and reduce costs in medical institutions. A degree in business administration and healthcare management is recommended. Business analyst in the healthcare field work with other healthcare management in hospitals, insurance companies, governmental agencies, non-profits and other regulatory bodies.
Before taking up this post, one is required to have obtained a degree in any business related field, such as business administration, and should at least have specialized in management.
Common Tasks Among All Business Analysts:
Other things involved in the business analyst job description include:
- Finding new ways to control costs, improve sales and increase efficiency. To achieve this, the business analyst may be required to research other industries and companies and, measure their individual performance guidelines. After doing this, they are required to summarize their findings and prepare reports while indicating their recommendations. These reports can later on be presented to the stakeholders or the executive management team.
- Be capable of independently carrying out different duties with minimal supervision. This is due to the fact that part of the business analyst job description requires them to do all the heavy lifting and only needs the help of others when a clarification has to be made or, additional help is needed.
- Making sure that the company system(s) complements the needs of the end users and clients. Thus, the business analyst should take up the role of analyzing the feasibility of all new systems and developing requirements that will enhance the overall performance of the existing systems.
- Providing technical assistance by mentoring, coaching and/or training the technical or the professional staff. This normally happens when the BA is implementing changes that are deemed as helpful to both the staff and the business at large.
- Acting as the key liaison between the team and the stakeholders. S/he may also act as the liaison between the business and other external organizations. To fulfill this, one ought to be both open minded and impartial.
- Evaluating and solving all kinds of business challenges. In doing this, one need to be able to research, collect, review and analyze information that will play a major role in enabling them make sound judgments.
- Planning, organizing and conducting business processes. As such, a business analyst should act as the project manager when it’s time to plan, organize, conduct and/or execute new business processes.
- Identifying, defining and documenting the business needs, objectives, current operational procedures and problems. At the end of the day, these are what determine the business’ successes or its failures.
- Identifying opportunities that can help in improving the business processes. Also, the business analyst should be actively involved in developing operational changes or new business systems.
- Developing requirements of all new systems, analyzing their feasibility and ensuring that the system designs complement the needs of the end users.
To fulfill these roles, the business analysts should:
It’s also worth noting that though a majority of business analysts work in corporate offices, they may be required to occasionally travel locally and internationally. And, they may work more than 40 hours a week as it can be a very demanding job with tight deadlines.