Business Analysis Archives | Imarticus

5 Desired Skills To Be A Business Analyst

Career in the field of Business Analysis is one of the fastest-growing in the country but like any other profession, excelling in this too requires one to augment top-notch business skills and personal attributes. Possessing innate ability to excel in the field or apt training is quintessential to establish a successful career in this field. Imarticus Learning lists out the essential attributes that professional aspiring to be successful business analysts must possess:

  • Communication Skills
    Being a business analyst, one is required to interact with users, clients, management and developers. This mere act highly influences a project’s success for the fact that through interaction business analyst clearly communicates the details like project requirements, requested changes and testing results. Hence, fluent language skills and written communication abilities are essential to thrive as a business analyst.
  • Technical Skills
    A good deal of communication on the part of business analyst is possible only if the individual possesses sound technical skills too. A business analyst would be able to identify business solutions only if he has knowledge of how information technology applications are being utilized, what new possible outcomes can be achieved through current platforms and what the latest technology offers. Other important skills of a technical business analyst include testing software and designing business systems. This knowledge is highly essential to render desired confidence about business as well as technology and ultimately demonstrate a strong technical aptitude.
  • Analytical Skills
    High level of analytical skills is one such trait that is essential to excel as a business analyst. This skill set helps in properly interpreting customer’s business needs and translating the same into application and operational requirements. Herein one important aspect is to analyze data, documents, user input surveys and workflow to determine which course of action will correct the business problem. Possess a strong hold on these this important skill to fit the role of business analyst perfectly.
  • Problem Solving Skills
    While the ability to create workable solutions to business problems is not unique to business analysts, it is a necessary skill for performing the job successfully. As with most IT roles, the business analyst’s career may be spent dealing with frequent and random changes. When these professionals are working to developing custom business solutions, nothing is 100% predictable – so finding ways to quickly resolve problems and move toward a project’s successful completion is important in the business analyst’s role.
  • Decision-Making Skills
    Analysis is one aspect and decision making based upon thorough analysis, another. Owing to this a business analyst should be able to make decisions. As a consultant to management and advisor to developers, the business analyst is called upon for sound judgment on various business related matters. Hence thoroughly assessing a situation, receiving the inputs from the stakeholders and eventually selecting the best course of action is what a business analyst should be well versed in.

 

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Business Analysts – The Change Agents With a License to Problem Solve

by Reshma Krishnan.

 

Before we answer the question who is a Business Analyst, let’s try and understand what Business Analysis is. Business analysis is defined by IIBA, the international institute of Business Analysis as

 

“the set of tasks and techniques used to work as a liaison among stakeholders to understand the structure, policies, and operations of an organization, and recommend solutions that enable the organization to achieve its goals.”

 

What does that mean? At its heart Business Analysis is Change Management. How do we adapt our businesses, our people, and our products to the rapidly changing needs of consumers and markets?  Let’s take a simple example. Outsourcing is a key trend of the 1990’s and early 2000’s. Because of the emergence of relatively cheap yet skilled labor in emerging markets, and the gradual increase of wage costs in more developed markets, companies realized they could significantly reduce costs by moving certain roles outside the country of business. Banks were among the biggest proponents of this trend. But what does that mean? Apart from identifying the best countries to move jobs too, the company had to first identify what roles they wanted to move. But that was defined on what skill sets were available in the market they were moving the jobs too. Which jobs do we move? Which jobs should stay? What are our core competencies? Who decides? Would you as head of a department ever want your division to be moved outside? No. In comes a business analyst. A business analyst will study the cost and revenue centers of a business and identify which roles can be farmed out, which should stay and which divisions would benefit the most from cuts. Before that, they would ask the question, is there a problem here at all? If so, what is the solution? They will then work with the HR team, the division head, the HR team in the country where jobs are moving too to arrive at a suitable answer or solution to the first problem – Which jobs should we move?

Once they answer that question, they go about monitoring implementation by working with numerous stakeholders. On the ground, business analysts often become project managers, the folks that get are responsible for getting the BUY-IN for a particular idea. They do this armed with data, large realms of data that can convince people that change is for the good.

In our next post will we understand the process of Business Analysis and what makes a good business analyst. Once we do that, we will then address how to become a Business Analyst.

For more details on Business Analysis, enquire final-bacpwith one of our counselors. The Business Analysis Certified Professional (BACP) program at Imarticus is designed for careers in Business Analysis and Project Management across various functions like Technology, Operations and Finance. After completing the IIBA Accredited, 8 week part-time program, you will gain an in-depth knowledge of Business Analysis, with a special focus on Capital Markets.

Key Questions in Business Analysis in 2017

Business Analysis deals with identifying problems and the need for change in an organization and providing solutions to the problem and facilitating change. Business Analysts identify the needs of a business and provide solutions that will deliver maximum value to stakeholders. Business analysts work across all levels of an organization and may be involved in everything from defining strategy, to creating the enterprise architecture, to taking a leadership role by defining the goals and requirements for programs and projects or supporting continuous improvement in its technology and processes.

But as businesses get more complicated, questions surrounding Business Analysis also change and get more dynamic. Here are some of the top questions and trends in Business Analysis and business analysis courses and workshops in 2017.

What is Distributed Leadership and is effective? As leadership gets more distributed and the one decision maker model crumbles, Business Analysis will have to create models that take into consideration more than one variable

How will better Design and technology affect Business Analysis? Apps are making a huge difference in business Analysis. How does that impact model making and problem definition?

Is there value in certification?  We believe there is value in Business Analysis courses and the rise in MOOCs (Massive Open Online Courses) reflect the interest project managers have in improving business analysis skills and problem-solving models

How does creativity and entrepreneurship affect Business Analysis? Business Analysis certifications focus on frameworks. What is the role of creative entrepreneurship in that?

How will Agile training change as a business move towards teamwork rather than focusing on the individual? And how do we make teams react to organizational change better?

Find out the answers to all these questions by enrolling in BACP, the leading Business Analyst Course in Mumbai. Click here for more information.

Staffing Solutions is Critical to Business Excellence

Staffing Solutions is critical to business excellence

Staffing has always been a critical support function that is involved in all important management processes like planning, organizing, directing and controlling. Effective staffing solutions are required to ensure the smooth and efficient working of an organization.

The success of an organization depends on the quality of its workforce. An effective staffing team leads to efficient delivery of products and services, which ultimately creates financial stability and growth for the firm. The survival of a business venture depends on the performance of its staff. Hiring the right staff means success and expansion of the business on financial grounds while hiring the wrong staff puts a business back at square one.

Nowadays companies are ready to invest in customized recruitment and selection processes to gain a competitive advantage in the market by selecting the suitable candidates for specific job role. They offer training, development and promotional opportunities to retain the valuable employees by enhancing their trust and loyalty for the company. To ensure hiring of well-trained employees, firms often outsource the staffing solution service to recruitment agencies. Staffing agencies own the entire recruitment and staffing process for a business, and this helps the firm stay competitive.

Imarticus Staffing Solutions assist corporate clients in fulfilling their staffing requirements by providing qualified and screened contractual or temporary manpower. They ensure the delivery of profitable solutions for your workforce requirements.

3 Important Tips For Business Analysts

A lot of effort and hard work is needed to perfect the skills required by a business analyst, but dedication and determination will help one can excel in this field. If you’re marching towards becoming a successful Business Analyst then you must read the following points:

  • Performance check:

It is important for all the aspiring traders to develop a habit of keeping an unbiased record of their performance. This would help them gauge their strong as well as weak points

  • Keep upgrading your knowledge:

Always be eager to learn new things related to the market. Up to date knowledge will help you to generate new ideas to improve yourself in order to perform to the best of your abilities

  • Be prepared for challenges:

The corporate world is very unpredictable; you might have to face a number of challenges and tricky situations. So it is advised to prepare yourself to face all sorts of difficulties that you might come across

 

A lot of professional courses are also available to help you enhance your business and trading skills. You can consider joining a business analytics certification course, which ensures better insight into this field

Learn About The Role of Business Analysts

Change in the business environment is the only constant thing which needs to be analyzed and evaluated. Business analysis is significant in the direction of maintaining competitiveness in the market. A company hereby needs business analysts who can deploy his/her professional and analytical skills to identify the key aspects of business that desire improvement.

The responsibilities of a business analyst span in several functional areas like:

  • A business analyst manager is responsible for investigating key factors affecting business performance with the use of data and statistical models so that the future performance of the firm could be plotted.
  • With the help of available data statistics, they tend to design and implement several business solutions to reduce the chance of failure on business front.
  • Depending on the complexity of business nature, analysts apply a wide variety of techniques to investigate business goals and concerned issues and identify potential solutions to address them.
  • An analyst must be able to provide guidance and direction to the business. A deep probing is done to extract the potential solution for the critical situations that arise.
  • They must have a clear understanding of the data set, data tables and data statistics to aptly optimize business performance. This work can be performed by analyzing the business information collected from different sources

In today’s business industry, a firm cannot go long way without business analysts. Hence, many individuals are stepping into this field. ‘Imarticus Learning’, Mumbai is successfully catering certification courses and training for business analytics.  The Business Analysis Professional program from ‘Imarticus Learningwill be helpful for those who aspire to accelerate their career path in business analysis.

Business Analysts Making Way For Profitability in Organizations

The 21st century has witnessed business analysis as one of the core business practices. Reason being, almost each industry possesses skilled business analysts who contribute to the overall profitability, thus proving to be a vital link between their information technology capabilities and business objectives. This eventually narrows down to the fact that the rapidly changing marketplace presents a host of opportunities for business analysts.  However, training is undoubtedly very essential seize this opportunity as it prepares them with the skills desired to remain competitive in the modern organizations.

What role does a business analyst play in an organization?

Present day business environment is highly wavering wherein nothing can contribute to the extent that innovation can. Hence, the key to success lies in an organization’s adaptability, agility, and ability to manage constant change through innovation. The emphasis has been laid upon innovation for the fact that during the unfavorable economic conditions, traditional methods may not lead to reaching objectives. That’s where business analysis and the role of business analysts come into play.

Profitability of an organization could be achieved when the projects successfully meet the customer objectives through new products and services. In this case, the business analyst contributes a lot towards analyzing what all is working in favour of the organization and suggesting the areas that desire change. They can make it all happen more efficiently and effectively.

The business analyst’s primary objective is helping businesses implement technology solutions in a cost-effective way by determining the requirements of a project or program, and communicating them clearly to stakeholders, facilitators and partners. Business analysis training at Imarticus Training inculcates the basic skills required to lead as a business analyst for firms. This not merely helps develop the technical solutions to business problems but also helps in advancing the sales efforts.

Business analysts typically take the lead role in:

  • Assisting with the business case
  • Planning and monitoring
  • Eliciting requirements
  • Requirements organization
  • Translating and simplifying requirements
  • Requirements management and communication
  • Requirements analysis

Wish to be a successful business analyst? Contact Imarticus Learning for comprehensive industry specific training programs in various sectors such as Financial Services and Analytics.

Have Fun with Business Analytics

Here at Imarticus we believe in continuous learning and this is reflected in the profile of the students in our BAP (R) program, is a comprehensive, short-term business analytics training program in Mumbai that provides aspirants with a thorough understanding of R programming language for effective and efficient data analytics. But it’s not all about textbooks in Business Analytics Professional, as our reading list also focuses on the great non-fiction books that reveal the power of data.

Moneyball –The Art of Winning an Unfair Game.
A classic book by Micheal Lewis, the book is the story of how a football manager turned around the fortunes of bleeding Baseball team by using Big Data. Using analytics he identifies underrated and hence, undervalued players in the league to bring them together and build a great team on a budget. Buy Here

Freakonomics- A Rogue Economist Explores the Hidden Side of Everything
Which is more dangerous, a gun or a swimming pool? What do schoolteachers and sumo wrestlers have in common? How much do parents really matter? These may not sound like typical questions for an economist to ask. But Steven D. Levitt is not a typical economist. He studies the riddles of everyday life—from cheating and crime to parenting and sports—and reaches conclusions that turn conventional wisdom on its head. Buy Here 

Our Business Analytics training program helps you acquire the renowned Business Analytics certification, EMC certification in Data Science and Big Data Analytics. For more information please click here

The Importance of Business Analytics

Talking points from the key note speech of Sameer Dhanrajan, Business Leader at Cognizant Technologies

 Data-rich, Information-poor and Insight starved. This is how keynote speaker Sameer Dhanrajani describes organizations today. Indeed, in the age of Big Data, this is a powerful paradox to kick start a Business Analytics conference attended by the who’s who of the Analytics world in India.

So why do a business analytics course?

Data alone is useless unless it helps you address real-time business issues. Is Analytics helping customers solve their problem? Can I bring about strategic change in my business using Analytics? The answer is YES! The increasing adoption of Business Analytics by not only CXO’s but also by heads of business and process owners is testament to the transformative power of Analytics.

Analytics has been highlighted as a key strategic technology trend in 2015, according to a Gartner report, Oct 2014. This is the first time that three of the top 10 IT trends are from the world of Analytics. These include 1) Advanced, Pervasive, and Invisible Analytics; 2) Context- rich systems; and 3) Smart Machines.

Big Data is a household name, but not many are aware of Data Economy. Most of you will recall that in 2013-14, Big Data was all the rage. Tom Davenport predicted that the era of Big Data was passing and coined the term Data Economy. Data Economy is a stage where analytics will start becoming a strategic asset for an organization. Advanced, pervasive and embedded analytics using smart machines and context rich systems would enable real-time decision making. We are moving from IT-led business intelligence to a stage where personalization, smart machines and B2C transactions will drive the embracement of analytics.

The capabilities of Business Analytics will define what processes will be part of an organization, and not the other way round. These capabilities straddle the entire value chain for businesses, but are especially relevant for Banking, Insurance, healthcare, and Entertainment domains.

According to a Gartner Report (Oct, 2014), 73% of respondents have either adopted or are on the path of adopting analytics as part of their organization. This trend is set to continue. Analytics will become more relevant in helping organizations address key business initiatives, delivering impact across the business continuum, thereby accelerating value creation.

The same report identifies Marketing, Operations, Sales, Customer service and R&D as the key areas where customers are already investing heavily in building their internal capability for advanced analytics.

The other key trend in Analytics is the adoption of open source platforms like R. R is versatile, can be customized as required and is free of cost, which accounts for its rising popularity over proprietary software like SAS.

In conclusion, there is a significant shift in how we leverage data to meet our objectives. Exciting new Analytics technologies are emerging—and in some cases, converging—to help organizations drive innovation and make smarter decisions with insights based on more than just structured, static data.

Imarticus Learning was ranked in the top 5 business analytics courses in India. Our BAP program will arm you with the knowledge and credentials required to kick start a lucrative and fulfilling career in Business Analytics. Please click here for more details on the BAP course.

Here’s why you should be a Business Analyst

If you have an inclination towards the BA space, here’s what your personality should look like..

Like resolving problems?

Do you get very frustrated when being dragged through a poorly thought-out process.

Concept Detector?

You might not be the one with the best concepts, but you know a great concept when you see one. And you are motivated to see through that idea when everyone else’s attention has moved on to the next great thing.

Help People Communicate:

You always seem to sense when people are talking to each other but not communicating with each other. And you’re at your happiest when jumping into the discussion to clarify things.

Like to work independently?

Maybe as much as two thirds of your day. Business analysts tend to spend about 2/3 of their time working independently and 1/3 of their time in meetings and interacting with stakeholders.

Also a great team -player?

If you had to spend the other third of your day all alone working on some technical problem or doing repetitive work, you might just pack up your things and quit.

Are you a bit like a 2-year-old?

Always asking why, why, why. (Although good BAs ask why with finesse, something we teach you how to do in our Essential Elicitation Skills course.)

Like to build on your deep business experience?

Whether as a subject matter expert, technical writer, project manager, sales person or recruiter, just to name a few possibilities. All of this experience you have adds up to something and has prepared you to be a great business analyst.

Like earning more money?

Given that the average salary of a business analyst in the U.S. is over 80K/year, many professionals are attracted by the prospect of a nice pay increase once they solidify their BA career.

There are various ways to get into a Business Analysis career, one of which is to get lucky and wait for the opportunity to knock your door, and the other is to upgrade and grab it yourself. There are various business analyst training courses in India, this being a practical & interactive role, getting into an online training is not much of a help. To know more about business analyst training classes led by an industry expert (Classroom), to know more Click Here.

Sohail Merchant – Team Imarticus