According to the latest report of Statista.com, there are 12.60 lakh private companies in India. Almost 1 out of every 3 companies need a business analyst for the smooth flow of their work process. Whether the company is IT or non-IT business analyst job remains in demand. Let us know in detail in this blog that business analyst kaise bane.
Who are Business Analysts?
Business analysts are individuals who analyze and execute market environments, processes or systems. They help businesses improve their processes, products, services and software through data analysis and software. Business analysts define detailed business analysis, budgeting and forecasting, planning and monitoring, variance analysis, pricing, reporting and business requirements for stakeholders.
What is the job of a Business Analyst?
The major functions of a Business Analyst are given below:
- The main job of a business analyst is to formulate a strategy according to the company’s growth, productivity, risk and consumer demand.
- The business analyst assesses the company’s business, market competition and future goals, as well as acts as a bridge between the problems faced in the business and their solutions.
- Large companies talk to business analysts to decide which markets to enter and how to offer prices for products or services.
- Also, given the cost and environmental constraints, which places need to be made more effective.
- This profession makes a lot of use of data analysis and fact-based management to help make decisions that are best suited to the interests of the company.
- Business analysts use statistics and mathematical tools to solve data-driven business problems.
To know business analyst kaise bane, it is also necessary to know about the skills, which are as follows:
- oral and written communication skills
- interpersonal and counseling skills
- facilitation skills
- analytical thinking and problem solving
- Being detail-oriented and able to deliver a high degree of accuracy
- organisational skills
- knowledge of business structure
- stakeholder analysis
- Requirements Engineering
- cost benefit analysis
- modeling process
- Understanding of networks, databases and other technology
Along with knowing Business Analyst Kaise Bane, it is also necessary to know its syllabus, which is given below-
|semester 1||semester 2|
|quantitative methods||financial management|
|managerial economies||operations management|
|management information system||human resource management|
|marketing management||optimization financial|
|organization behavior||stochastic modeling|
|statistical analysis||business intelligence|
|data modeling||Research Methods|
|managerial communication||Computational Methods|
|semester 3||semester 4|
|predictive analytics||strategic management|
|risk management||Operations and Supply Chain Analytics|
|marketing analysis||HR Analytics|
|data mining||big data analytics|
|simulation modeling||Ethical and Legal Aspects of Analytics|
|Analytics, Systems Analysis and Design||project management|
|Industry Internship Program||professional development|
|Analytics Capstone Project||elective paper|
How to become a Business Analyst?
Below is a step by step guide to know how to do business analyst:
- step 1: Earn a Bachelors Degree: Most of the employers require a minimum bachelor’s degree from the candidates. Related degrees include computers, information technology, management information systems and computer programming.
- Step 2: Select Masters Degree: Masters degree is also necessary to become a business analyst. A master’s degree in business, information technology or computer systems provides you with in-depth experience and education. At the same time, it also allows you to develop important skills.
- Step 3: Get Technical Certifications: The candidates have the advantage by getting the technical certifications. Technical certifications help you stand out from other candidates while applying for Business Analyst posts. Some business analysts prefer additional certifications in programming or proprietary software programs.
- Step 4: Gain Industry Experience: Many business analyst positions require that you have industrial experience. The experience required depends on the industry you work in. For example, a business analyst in the healthcare industry may need to learn about healthcare. A business analyst in a government setting may need an understanding of specific government programs.
Below is the list of courses to become a Business Analyst-
- CFA Course & (FRM)
- IIBA Entry Certificate In Business Analysis [ECBA]
- Project Management Certifications, eg, MBA in Project Management
- IIBA Certification of Competency in Business Analysis
- PMI-Professional in Business Analysis [PBA] Certification
- IIBA Agile Analysis Certification [AAC]
- IREB Certified Professional for Requirements Engineering [CPRE]
- BBA in Business Analysis
- Bachelor in Computational Business Analytics
- Bachelor Informatics
- BSc Digital Business & Data Science
- MBA in Foreign Trade
- MBA in Digital Marketing
- MBA in Healthcare
- MBA in Accounting
- MBA in Quality Management
- MBA in Data Analytics
- MBA in Computer Science
- MBA in Logistics
- MBA in Banking
- MBA in Logistics and Supply Chain Management
- MBA in Construction Management
- Master of Management Studies
- Masters in Human Resource Management
- Master of Engineering Management
- Masters in Marketing Management
- Master of Finance
- PGDM in Business Analytics
- PGP in Analytics
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To become a business analyst, one can do diploma, certificate or degree course after passing graduation or equivalent course with minimum 50% marks. Diploma and certificate business analyst course is of six months to one year while post graduate and master business analyst The course is of two years duration.
|Certificate Program in Big Data and Analyst||six months|
|Executive Program in Business Analyst||six months to one year|
|Post Graduate Program in Business Analyst||two years|
|Master of Business Analyst||two years|
top foreign universities
The world’s top universities that offer courses to become a business analyst are as follows:
|Universities||annual average fee|
|Massachusetts Institute of Technology||USD 60,000 (INR 45 Lakh)|
|University of Oxford||GBP 32,500 (INR 33.47 Lakh)|
|University of Chicago||USD 50,000 (INR 37.50 Lakh)|
|Columbia University||USD 62,000 (INR 46.50 Lakh)|
|Imperial College London (ICL)||GBP 51,000 (INR 52.53 Lakh)|
|University of Pennsylvania||USD 70,000 (INR 52.50 Lakh)|
|University of Toronto||CAD 52,000 (INR 31.20 Lakh)|
|University College London||GBP 40,000 (INR 41.20 Lakh)|
|University of California Los Angeles (UCLA)||USD 62,000 (INR 46.50 Lakh)|
|McGill University||CAD 46,000 (INR 47.38 Lakh)|
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Top Indian Universities
The top universities in India that offer courses to become a business analyst are as follows:
|Universities||Annual Fee (INR)|
|GITAM, Hyderabad||1.99 lakh|
|Prestige Institute of Management and Research, Indore||1,46 lakh|
|BML Munjal University (BMU), Gurgaon||2.72 lakh|
|GITAM, Visakhapatnam||3.60 lakh|
|GITAM Bangalore||1 Lac|
|Northcap University, Gurgaon||1.70 lakh|
|St. Joseph’s Degree and PG College, Andhra Pradesh||1.20 lakh|
|Mount Carmel College, Karnataka||1.50 lakh|
|Amity University, Noida||1.72 lakh|
|Dr. M. Gr. Educational and Research Institute, Tamil Nadu||80,000|
To become a Business Analyst, a candidate must have the following qualifications-
- Must have passed 10+2 (any stream) from any recognized board.
- Candidate must have passed from any recognized university BBA degree obtained.
- Candidate must have completed Masters degree from any recognized university.
- English language test for doing business analytics course from abroad like IELTS, TOEFL, GMAT, GRE marks are mandatory.
- GRE/GMAT marks are also mandatory.
Along with knowing Business Analyst Kaise Bane, a list of entrance examinations has been given, which is given below-
- NMAT by GMAC
After knowing Business Analyst Kaise Bane, now below is the list of top recruiters, which is as follows-
- Mu Sigma
- Accenture Analytics
- Fractal Analytics
- Cartesian Consulting
- Crayon Data
- Tiger Analytics
- Hansa Cequity
- Global Analytics
- Exl Analytics
Job Profiles and Salary
Working as a Data Analyst Cater at the entry level, you can earn up to Rs 15,000-2,00,000 per month. As a Market Research Associate, you can earn around Rs 10,000-1,00,000 per month. As a Business Analyst Trainee you can earn 25,000-3,00,000 per month. After 2-6 years of experience working at junior level, you can earn around Rs 30,000-4,00,000 per month. After working experience of 6-12 years working at middle level, you can earn around Rs 50,000-6,00,000 per month. After 12 years of work experience working at senior level, you can earn Rs 1,00,000-10,00,000 per month. The job profiles and their salary (according to Payscale) in this field after completing Business Analyst course are as follows:
|job profiles||Average Annual Salary (INR)|
|business analyst||6-7 lakhs|
|business process analyst||4-5 lakhs|
|IT Business Analyst||6-7 lakhs|
|business systems analyst||7-8 lakhs|
|systems analyst||6-7 lakhs|
|data analyst||4-5 lakhs|
|functional architect||19-20 lakhs|
|UX Analyst||13-14 lakh|
Becoming a Business Analyst can be a bit difficult in the aspect of operations jobs, but it is easier than other jobs in the aspect of technical jobs.
Business analysts analyze past and present business data with the primary goal of improving the decision process within the company.
Yes, IT Business Analyst business administration And there are experts in both IT. Their primary responsibilities include liaising between IT and executive branches, improving the quality of IT services, and analyzing business needs.
Hope you have got information about this blog as a business analyst. If you want to study business analytics abroad Leverage Edu from the experts of 1800 572 000 Call us today and book a free 30-minute session.