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In the internet age, companies need to adapt to the new demands of a globalised world and increasingly connected consumers. To keep pace with the times, organisations need specialists who can reconcile the need for business efficiency with the technological challenges posed by digital transformation. This specialist is known as a business analyst, someone who normally has a Business Analytics Degree or something related.
A business analyst is a professional dedicated to collecting and interpreting data from different sources in order to optimise company systems and processes. Their role is essential for business success, especially as they find key opportunities for the company. That’s why they usually hold an important position in the organisational hierarchy.
Business analysts are responsible for evaluating business processes, anticipating company needs and detecting areas for improvement. Additionally, they implement solutions while constantly looking for new optimisation strategies that will help the company to work more efficiently and remain competitive.
A successful business analyst will begin by analysing the company’s business requirements to understand their gaps and areas for improvement. They will evaluate the organisation's structure, processes and use of technology, as well as the business objectives being pursued.
In order to do this successfully, the analyst must work closely with managers and customers or users. This will allow them to better understand how data-driven changes can improve efficiency and add value to the business.
Once this detailed analysis is complete, the business analyst looks for technical solutions. They investigate the new technological developments that could contribute to helping the company’s processes, products and/or services to be more effective and efficient. They are also responsible for selecting the best ideas and weighing out the most technically and economically feasible solutions in order to make data-driven recommendations to management.
Finally, the business analyst monitors the implementation of these new technologies and systems, while also organising and leading any necessary training courses or workshops for company staff.
Business analysts must have broad, multi-faceted technical knowledge. It isn’t just about knowing the technologies used by the company, but also about understanding the needs of the end user, and mastering the language and characteristics of the business itself.
To that end, in order to work as a business analyst, it’s necessary to orient academic training towards sectors such as business intelligence, market research, digital transformation, IT and big data and finance.
Business analysts must also develop analytical thinking to help them find creative solutions to the problems they face. The must also be strong communicators, as they will often have to mediate between the client’s vision and the team developing the product, service or application. What’s more, they will negotiate between parties and deliver results to management.
This type of versatility, and the enormous value it brings to organisations, are the main reasons behind the increased demand for the business analyst profile. Companies are increasingly aware that data is the future, which is why they’re looking for the best way to digitalise their processes and integrate solutions from the Internet of Things to help them enhance operability, efficiency and competitiveness.
To that end, according to Glassdoor, in Spain, a business analyst’s average salary is €30,000 per year. A senior business analyst can earn up to €47,000 per year, depending on their sector and the company for which they work.
If you’re interested in building a career in this sector, you can begin your training with our: