In this age of pandemics, political uncertainty, intense competition, and rapidly advancing technology, companies that want to stay ahead turn to business analysts.

These professionals study a company’s processes, operating procedures, and large data sets to find ways to enhance efficiency and overall performance.

Business analysts work with management to lower costs, eliminate or reduce inefficiencies, and boost the company’s competitiveness in the modern business world. They use their analytical skills to understand and apply data-focused strategies best suited to increase a company’s bottom line.

A business analyst:

• works with the company to identify improvement opportunities in business operations and processes;
• helps with the design or modification of existing business and IT systems;
• interacts with stakeholders and subject-matter experts to better understand their needs and problems;
• gathers, documents, and analyses the company’s needs and requirements;
• resolves business problems and designs technical solutions;
• documents the functional and technical designs of the company’s systems;
• collaborates with system architects and developers to ensure the system is properly implemented; and
• creates systems testing, documentation, and user manuals.

Large data sets contain information essential for making reliable business decisions. Companies that want that extra competitive advantage need someone to collect, analyse, and apply data sets in constructive ways.

As such, the business analyst functions as an in-house liaison that collects, manages, and distributes relevant data between departments.

While any industry can benefit from such expertise, management consulting firms and IT-related firms make up the largest share. Companies that specialise in accounting, finance, investment banking, and market research also offer significant opportunities.

To get into this career, you need to have a good business background or solid knowledge of information technology. Most entry-level business-analyst positions require a minimum of a bachelor’s degree, usually in accounting, finance, management, or IT.

6 career paths in business analysis

1. Business analyst manager

These managers recruit and hire business-analyst team members, oversee new-hire training, define best practices, and execute organisational goals.

2. Data business analyst

These professionals work with large data sets to identify trends, develop charts, and create visual presentations to aid business-making decisions.

3. Data-analysis scientist

This career path is extremely challenging since data-analyst scientists must extract meaning from collated data, interpret it, and use it to create actionable insights. You need to be familiar with machine learning and statistics to be effective in this position.

4. Information-security analyst

Cybercrime is a hot topic, and cybersecurity professionals are in huge demand. Information-security analysts protect organisations from criminals by interpreting security data and monitoring IT networks and systems.

If you’re interested in ethical hacking, you’ll like this position as it usually entails finding weaknesses in systems and eliminating them.

5. IT business analyst

This role requires working on multiple projects and operating systems while simultaneously developing more substantial business-process roles. This career is a good fit for people who love crunching numbers.

6. Quantitative analyst

This specialist creates, implements, and presents mathematical models to support financial decisions that affect risk management, investments, and pricing structures.

The journey on your preferred business analyst career path will be smoother if you have the following qualities and skills:

• you are a good listener and communicator;
• you are willing to consider change;
• you can multitask effectively;
• you know how to prioritise based on multiple stakeholders’ needs;
• you are good negotiator who can get timely buy-ins on crucial decisions from stakeholders;
• you identify opportunities to improve processes that could lead to greater efficiency and output; and
• you are able to work collaboratively with individuals and groups beyond your team or organisation.

This article first appeared in jobstore.com, an online job site that specialises in providing jobseekers with the latest job opportunities by matching talented individuals with reputable companies in Malaysia. Find your dream job with over 40,000 job vacancies in Malaysia.