Think this sounds like the role for you? Keep reading to discover how to become a business analyst, including an in-depth look at the skills and qualifications you’ll need, tips for gaining experience, challenges to overcome, and more.
What Is a Business Analyst?
A business analyst is an individual who uses insights gleaned from data and analytics to identify inefficiencies and recommend process improvements and business practice refinements that address these shortcomings. Organizations can then use these recommendations to implement changes that ultimately lead to increased revenue and reduced costs.
Due to the nature of their work, business analysts need to be adept at examining processes that span various departments, pinpointing issues and devising strategies to optimize productivity. More specifically, business analysts are typically tasked with:
- Reviewing companies’ business processes and models to find opportunities for improvement
- Developing optimization strategies and creating workflows that enhance productivity and overall efficiency
- Meeting with departmental stakeholders to better understand their processes, challenges, and needs
- Researching best practices and innovative solutions to inform their own strategies and recommendations
- Analyzing financial data to understand the impact of various processes on the organization’s bottom line
- Recommending process and organizational changes based on their analysis and findings
- Overseeing the implementation of approved changes, ensuring that the updates are adopted smoothly and that any issues are addressed promptly in order to achieve the desired outcome
Key Business Analyst Skills and Qualifications
In order to become a business analyst, having the right mix of degrees and skills is essential. Here’s what you’ll need:
Educational Qualifications
- Bachelor’s Degree: A bachelor’s is typically the minimum educational requirement you’ll need to land a business analyst role. Relevant fields of study include information systems, IT, business administration, finance, or other related concentrations.
- Master’s Degree: While not always required, an advanced degree, such as a Master of Business Administration (MBA), can give you an advantage when applying for open positions. Earning a master’s degree provides you with deeper insights into business strategies, management practices, and leadership techniques, giving you a competitive edge in the job market.
- Professional Certifications: Becoming certified by recognized professional organizations is another way to make your application stand out. Certified Business Analysis Professional (CBAP), Project Management Professional (PMP), or certifications in specified tools and methodologies (e.g. Six Sigma or Agile) demonstrate a commitment to the profession and provide specialized knowledge that can be valuable in your future role.
Key Skills
In addition to educational qualifications, business analysts also need to have certain skills in order to excel in the role. These include:
- Critical thinking: The ability to think critically is essential for analyzing complex business problems, identifying underlying issues, and developing data-driven solutions.
- Analytical skills: Strong analytical abilities are needed to accurately interpret the data, identify the trends, and draw the conclusions that inform business decisions.
- Problem solving: Business analysts must be adept problem solvers. This includes identifying root causes, developing actionable solutions to issues, and implementing those solutions to smooth out business processes.
- Communication: Effective communication skills are crucial for interacting with stakeholders, which involves presenting findings, clearly explaining complex information, and garnering support for proposed process changes.
- Time management: The ability to manage time effectively is important, as business analysts often juggle multiple tasks, projects, and deadlines simultaneously.
- Organization: Strong organizational skills help business analysts keep track of data, documents, project plans, and proposals, ensuring that nothing falls through the cracks.
- Business management: Understanding fundamental business management principles enables business analysts to align their recommendations with the organization’s strategic goals and operational needs.
- Technology: It’s crucial for business analysts to be familiar with the systems that organizations use as part of their operations. Additionally, proficiency in data analysis tools and project management software is needed to keep up with the requirements of the job.
- Data analysis: The ability to analyze data accurately and derive actionable insights is a core component of the business analyst role. This involves using statistical methods, data visualization tools, and adhering to other data analysis principles.
- Documentation: Documentation skills are necessary for creating detailed reports, process maps, and project plans that clearly outline findings, recommendations, and implementation steps.
Gaining Relevant Experience
As it isn’t generally considered to be an entry-level position, having related experience is a must if you have your sights set on becoming a business analyst. If this is your career goal, the good news is that there’s more than one path you can follow to gain the experience you need.
Following Academic Pathways
- Meet with major advisors and career counselors: If you’re still in school, making appointments with your college or university’s career services department and your academic advisor can help ensure you take the classes you’ll need to pursue a business analyst role in the future. Courses in business administration, information systems, finance, and data analytics are especially relevant.
- Participate in relevant activities: Volunteer yourself for projects, research opportunities, or extracurricular activities that involve the skills you’ll need as a business analyst. This could include participating in case competitions, joining business clubs, or working on class projects that have data analysis and process optimization components.
The Internship & Junior Roles Path
- Start out with internships: If you’re just starting out, one of the most effective ways to gain experience is through internships. Look for opportunities in accounting, finance, or similar business settings where you can develop an understanding of business processes and data analysis. Not only do internships provide practical experience and exposure to real-world business practices, they also give you a chance to start building your professional network.
- Land a junior role: After your internship is complete, you can leverage your experience to land a full-time, entry-level position — either with the company you interned for or elsewhere. In order to gain the most relevant professional experience, try looking for roles related to business analysis. Target positions such as junior analyst, assistant analyst, or other entry-level positions in finance, operations, or IT as they often involve tasks such as data collection, reporting, and assisting with process improvement projects.
The Career-Switching Route
- Take on transferrable responsibilities: If you’re considering a career switch, look for opportunities within your current role to take on some of the duties and responsibilities of a business analyst. This could include reviewing existing business processes, volunteering for projects that require data analysis, or organizing a cross-departmental group whose focus is to improve workflows. Demonstrating your ability to successfully handle these tasks can make it easier to transition into a business analyst role.
- Seek out networking opportunities and mentors: Making connections with others within your current organization or industry can open doors to business analyst opportunities. Additionally, mentorship from seasoned business analysts is invaluable as they can provide guidance, share insights, and recommend other ways to gain needed experience.
How To Get a Business Analyst Job with 7 Tips and Strategies for Landing the Role
Getting your first job as a business analyst takes a combination of planning, skill development, and making the right connections. Here are our top tips and strategies for landing the role:
1. Enroll in relevant courses
Look for courses in business analysis, data analytics, project management, and/or information systems. Many online platforms — Coursera, edX, and LinkedIn Learning, for instance — offer courses that can be completed at your own pace.
2. Pursue internal opportunities
If you’re already employed, consider making a lateral move within your current organization. Look for opportunities to transition into a business analyst role by leveraging the experience you gained and connections you made while taking on transferable responsibilities (as previously discussed).
3. Build professional relationships
Networking can help you learn about job opportunities, gain insights from experienced professionals, and receive referrals. To establish these relationships, try attending industry events, joining professional organizations such as the International Institute of Business Analysis (IIBA), or participating in business analysis-related online forums and communities.
4. Refine your skill set
Continuously developing relevant skills is key to becoming a successful business analyst. Focus on improving your proficiency in tools and technologies commonly used in business analysis, such as SQL, Excel, Tableau, and business process modeling software. Soft skills, like communication, critical thinking, time management, and organization, are equally important and should be cultivated.
5. Showcase your work
Creating a portfolio that highlights your relevant experience and skills can set you apart from other candidates. Be sure to include examples of projects where you analyzed data, improved business processes, or implemented changes. Your portfolio can consist of case studies, reports, process diagrams, and any other documentation that demonstrates your ability to perform the tasks of a business analyst.
6. Consider further education
If you’re looking to sharpen your qualifications, going back to school to earn a related degree or build upon a related bachelor’s by earning your master’s can be beneficial. Pursuing additional education can also offer opportunities for networking, internships, and exposure to the latest industry practices.
7. Leverage recruitment agencies
Working with a recruiter is a great way to find business analyst opportunities. Thanks to their extensive networks, recruiters can connect you with companies looking for candidates that have your skills and experience. They can also provide valuable advice on improving your resume, preparing for interviews, and negotiating job offers. By partnering with a reputable recruitment agency, you can gain access to job openings that may not be advertised publicly and receive personalized support throughout your job search.
Challenges to Becoming a Business Analyst
A career as a business analyst can be rewarding, but the path to getting there can come with a variety of different hurdles. Common challenges (and their solutions) include:
- Lacking the right qualifications typically required for the role
- Solution: Bridge the qualification gap and demonstrate your commitment to potential employers by enrolling in relevant courses that cover the essential knowledge and skills needed for a business analyst role.
- Lacking the experience needed to break into the field
- Solution: Look for opportunities to gain relevant experience in your current role, such as volunteering for projects that are closely related to business analysis or taking on tasks that require transferable skills.
- Possessing an underdeveloped skill set
- Solution: Identify the key skills required for a business analyst role — such as critical thinking, problem solving, business management, and data analysis — and actively seek opportunities to develop them.
- Holding an unrelated degree, or no degree at all
- Solution: Consider enrolling in a degree program or a specialized bootcamp that focuses on business analysis or related fields. Many institutions offer part-time, online, or accelerated programs that cater to working professionals.
Working With a Recruiter To Progress Your Career
It’s worth repeating — professional recruiters are an invaluable resource when it comes to your employment search. Not only can they tap into their networks to help you find the perfect match (in terms of role and future employer) and provide the assistance you need to land your first business analyst job, but they can also help you find future opportunities as you progress in your career. At KBW, the relationship you build with your personal recruiter doesn’t end once you get hired. Our team is always here to support your professional growth, whether it’s keeping you top-of-mind for opportunities that may be of interest to you or being available to help when you decide it’s time to move on from your current role.
FAQs
What does a business analyst do?
Business analysts are tasked with analyzing an organization’s business processes and practices in order to identify inefficiencies. Based on their findings, they recommend improvements and refinements that address these shortcomings, increase revenue, and reduce costs.
What qualifications do I need to become a business analyst?
Typically, business analysts are required to hold at least a bachelor’s degree in information systems, IT, business administration, finance, or a similar field of study. Since this isn’t an entry-level role, having related experience is also a must.
Can I become a business analyst with no experience?
In order to become a business analyst, you’ll need relevant experience. However, there are several ways to gain the experience required to land the role. Paths to the role include through academic avenues and pursuing internships. If you’re already a working professional, try looking for opportunities within your current role to take on the duties and responsibilities of a business analyst. Then leverage the experience you gain into a lateral career move into business analysis.
Can I work as a business analyst without a degree?
Typically, you’ll need a bachelor’s degree at minimum to become a business analyst.
How much impact does a business analyst have on an organization?
Within a mature organization, business and technology leaders work together in several capacities, including needs assessment, planning, project delivery, and training. Business analysts can help ensure these collaborations remain productive by building trust and facilitating communication throughout the organization while ensuring the needs of each group are met.
Making the Most of Your Search
KBW Financial Staffing & Recruiting is a locally-owned and managed, full-service staffing firm, providing the region’s top employers with highly-qualified job candidates and jobs in the accounting and finance fields. Our success is built upon a highly personalized approach resulting in thousands of successful matches between professionals and employers, and we’ve placed hundreds of business analysts since opening our doors in 2005.
Our team of financial recruiting experts is here to make your job search as easy as possible. Browse our open positions to see what’s available.
About Alexander Technology Group
Alexander Technology Group is the leading provider of technology staffing and recruiting services across Greater Boston and New Hampshire. Since 2007, Alexander Technology Group has provided qualified technology professionals, on a temporary and direct-hire basis, to thousands of organizations throughout the local market.
Learn more and search jobs at https://www.alexandertg.com
