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Day: June 16, 2020

How Much do Scrum Masters make?

Posted on by Imarticus Learning

With the influx of business and artificial intelligence, the world around us has changed. Due to this change, a lot of new roles have come up in the job market. People are coming up with a simpler solution to complex problems using technologies like data analysis and machine learning. However, these technologies are implemented with a proper framework and the companies are advised to adhere to these standards so that a professional atmosphere is maintained.

What is Scrum?

A scrum is a framework with the help of which solutions are developed for complicated and complex problems. These solutions are brought up by a lot of creativity. A Scrum Master ensures that the product delivered through the process serves the purpose and is of the topmost quality. Scrum also ensures effective utilisation of teamwork in coming up with innovative automated solutions. With a scrum master certification, you can understand the technicalities of the field and seek a career in the same. Being a relatively new field, scrum has found its place and a lot of companies are now looking for a scrum master. With proper training, you can easily understand the subject and with a lot of practice, you will be able to master it.

Who is a Scrum Master?

A person who generally develops an algorithm to come up with solutions to complex problems is called a scrum master. They know the implementation of agile methodologies to come with solutions from which a company can benefit. With a scrum master certification, you will understand the roles and responsibilities in a better way. These people are also called the drivers of change as they help the companies in upgrading their solutions concerning the change in the market scenario. These scrum masters are experts in their fields and they have the technical know-how to implement these agile scrum methodologies to bring out a successful solution.
A scrum master has to be good with the work he does. He needs to be aware of different processes and he must know how to work them out. A scrum master takes up the back seat and acts as a backbone in any project implementation. They bridge the gap between the business owners and the product managers and build comprehensive solutions to address different problems. They must have a proper experience of dealing with the tools and technologies as the work involves a lot of technical brainstorming.
He helps businesses in understanding the technical dependency of a particular project and tasks. A good scrum master must be a persuader and should influence people. With a scrum master certification, you can be market-ready for taking up scrum master roles.

How much do scrum masters make?

With automation, the demand for scrum masters has increased but only a few professionals are employable in this field. This factor makes it a very high paying job. In America, a scrum master earns about $100,000-$125,000. This pay is very high as compared to the average pay of the people working in different companies. In India, these scrum masters earn around Rs14,00,000 and can also be paid as high as Rs. 25,00,000. A master’s degree is not mandatory to become a scrum master.
Also, this pay increases with the level of training a person takes. A person with multiple certifications is more likely to earn a higher amount as compared to the base salaries. Companies like IBM pay Rs.16,00,000 per year which makes it a high-end product. Scrum masters are paid quite high and are considered to be one of the highest paying roles of all times. Companies are now moving towards Agile systems and they need someone to drive this change.

How Do I Start a Business Analyst Career?

Posted on by Imarticus Learning

Businesses run differently today. They have evolved to a great extent and are constantly looking out for professional who can sustain these changes and also become drivers of these changes in most cases. Businesses have to analyse a lot of aspects daily and they are constantly looking out for professionals who can help them out with the same.
With automation, times have changed. Everything has moved to an online platform and the things are now worked out from the same perspective. For making sure that all the automated work is carried out smoothly, companies have started hiring business analysts. A business analyst can look after the general affairs of the company. However, a lot of companies hire a business analyst to look after a particular domain and excel in the same.

Who is a Business Analyst?

A Business Analyst bridges the gap between technology and the operations of a business. His primary job is to automate business processes for ease of operations. You can choose a business analyst course from the multiple courses available both online and offline. These analysts play a major role in formulating digital products and offerings of a business.

They are responsible for streamlining processes through the implementation of conclusions drawn out from data analysis. Their job is data-oriented. They have to give out data-driven results. Due to its nature, these results can be quite conclusive as they give out the quantitative aspects of a decision made by the company.

A lot of companies are hiring business analysts due to ongoing automation of all the processes that are carried on inside a company. BAs manage data and are responsible for data-driven results. They use these results to make changes in the existing system. Their main job is to look for automated solutions to all problems.

They work with data regularly. Therefore, it is their responsibility to check the technical feasibility of a plan or a business idea. They have to create new models which would support business decisions. The job of a business analyst is quite result-oriented. They also make use of a lot of online tools. Business analysts are well aware of the technical know-how and also have experience with coding and programming.

A good business analyst must have a sound understanding of regulating businesses and business reporting. He is also expected to be proficient in budgeting, forecasting, analysis etc.

How to Become a Business Analyst

Business Analyst has become a trending role in the job market. Therefore, if you want to become one you must have t6he right skill set and knowledge to excel in the field. You must have a degree in business administration or must be aware of how processes and finance work. A business analyst course will give you a better understanding of the things you can expect to work on.
For becoming a successful analyst, the first step is to educate yourself. Read and understand about businesses and how they work. You can take up a business analyst course and understand the requirements. You can then practice and become certified in a particular field. A certification takes you a long way.
For an analyst learning never stops. Therefore, keep up with your learning and improve continuously. Learn different computer programming languages like R, Python, SaaS, etc. It is also important to be in touch with professionals who are already working in the field. Getting a mentor could also be useful.

Conclusion

You can become a successful business analyst if you constantly strive and achieve what it takes. It is important to keep up with technical skills as well to become a successful business analyst.

Also Read: Business Analyst Career Path

Functions of Accounting

Posted on by Imarticus Learning

A lot of transactions take place daily in all kinds of businesses. Therefore, it is really important to keep a tab on all of these exchanges and transactions. This makes recording and keeping a track of transactions important. Accounting helps in keeping a tap on all of these transactions.

What is Accounting?

Accounting is a comprehensive process of recording transactions that goes on in a business. Accounting is done by all kinds of businesses: be it a large company or a person running a small store in his colony. It is primarily concerned with keeping a record of all the transactions but it serves various other purposes too.

It includes analyzing, summarising, and classifying the information recorded in the form of different types of transactions. Accounting process can be done both online and offline. Keeping a tract of transactions by maintain a register and writing things down is a conventional way of doing things. A lot of companies have now switched to an online system of accounting which is much more convenient and easier to use. A lot of software like Tally, Oracle, SAP, etc. are now dominating the market and have made accounting process a cakewalk. To become an accounting professional, you can take up an accounting course which will give you a better understanding of how things work.
An accountant has to prepare different financial statements. These financial statements form the basis of a lot of major and minor business decisions. These financial statements include income and expense statements, cash flow statements, Profit and Loss account, balance sheet etc. Documents like balance sheet are very important as they give you a picture of your financial standing at the end of the year specifying the value of assets you hold and the liabilities you owe. You can enrol in an accounting course to understand all of this in a better way.

What are the functions of accounting?

Accounting plays a major role in all kinds of businesses. It has different functions:

  1. Accounting serves as a basis of financial planning: All the statements prepared by an accountant give you an understanding of your financial position. You also get to know about the profits earned and losses incurred from these statements. Therefore, with the help of this information, you take different business decisions. In the case of profits, you formulate ways to utilise it and reinvest in your business. In case of a loss, you find ways to get back on track
  2. Prepare budgets: Accounting acts as a base for budget formulation. Budgets are made in line with the accounting statements. These statements give an overview of the sources of income and the areas of expenses. These can be helpful while you are planning or preparing a budget for your company.
  3. Controlling cost: With the regular recording of transactions, you can keep your costs in check. You can avoid wasteful expenditures and spend money wisely keeping these statements in your mind.
  4. Prevents errors and frauds: A lot of things might not come in your radar or slip off your mind in case you are not recording all the transactions. Therefore, accounting is important. With accounting, you can eliminate the errors which can be caused due to negligence or forgetting of transactions. Also, if you keep a record of all the transactions, you can easily detect any fraud which is going around in the business.

Accounting serves a lot of other purposes like evaluating the performance of the company, providing data of past performances for performance evaluation, etc. With an accounting course, you will be in a position to understand all of this better. You can build up the required skills and become a successful accountant.