Business analysts look at the data collected by organizations to analyze trends and patterns in employee productivity, organization costs and other key measurements. Organizations look for business analytics experts to guide them through the data, using their findings to make an informed proposal about future business decisions.
Business analytics programs serve a crucial role in modern business. The process of collecting and analyzing important data ensures that businesses become more efficient, productive and lucrative. Apart from excelling with numbers and data, business analytics employees need to be skilled in general tech, communication and problem solving to succeed in their role.
Earning a degree in business analytics can be useful in learning the skills needed to impress one’s employers. A Bachelor of Science (BS) Business Analytics degree will teach you all the basics of marketing, accounting, finance and how to implement statistics into readable models. Also, by having a higher education you can make your resume stand out with a master’s degree. A Master of Science in Business Analytics (MSBA) can help you when working your way up in a company by expanding your knowledge in data collection, analysis, interpretation and data application.
Crucial business information is typically collected through the organization’s database system. A business analyst needs the skills to understand where data comes from and how to navigate it. Additionally, many of the decisions a business analyst may be required to consult on require an understanding of how information is stored in the organization. Business data analysts need to know enough about the technology used in their industry to make recommendations for products and services that could make their organization more efficient.
Business analysis jobs are rarely done in isolation. To analyze the data they receive, a business analyst must understand the context in which it was collected. They must be a fully integrated part of the organization and understand which projects are bringing in data and how the data reflects the work being done. Data analysts communicate their findings and recommendations, so they must be able to work with employees and management at all levels.
Coming up with workable business solutions is critical in how to become a successful business analyst. An analytics programs looks at raw data and makes recommendations about how a business can move forward. To formulate solutions, they must troubleshoot and consider all possibilities. Business analytics skills include weighing options and making tough decisions before presenting their findings to higher-level decision-makers.
Various industries need business analysts in order to function properly. A large range of companies like tax firms, insurance firms, technical companies and government institutions all have a need to fill analytics positions. This means business analysis jobs are readily available and the field will have good job security. However, skills may vary depending on the various industries due to targeting different markets. For example, some firms may want a candidate who has a better understanding of finance rather than just marketing skills or economic knowledge in one's education to become a successful business analyst.
If you are a critical thinker interested in Business analytics, consider enrolling in the Master of Science in Business Analytics degree program at Grand Canyon University. Graduates in this degree program are prepared to thrive in positions where their work plays a major role in an organization’s decision-making. To learn more about the Colangelo College of Business, click on the Request Information button on the page.
The views and opinions expressed in this article are those of the author’s and do not necessarily reflect the official policy or position of Grand Canyon University. Any sources cited were accurate as of the publish date.