You must have heard many discussions on the role of a project manager and that of a business analyst. One versus the other, or one is a progression to another. Irrespective of the debate, one thing is coming out clear, that project management and business analysis are pivotal and strategic roles within an organisation.
Project Management’s key focus is on ensuring to create ‘Product, Service, along with the Impact’. The Project Manager controls the project, by applying the knowledge, skills, tools and techniques, to conduct activities that meet the project requirements.
Business Analysis’s focus is on clearly understanding the needs of the stakeholders and the business objectives, and further defining the characteristics of the solution to meeting those needs. A business analyst analysis the situation, by using techniques and tasks to liaise with the stakeholders, with the endeavour to better understand operations, structure and policies of an organisation, so that they can recommend resolutions to the organisation to meet its goal.
Apply this to a broader perspective, if you need to create project deliverables to produce expected business deliverables, it becomes imperative to first understand the business need for the change of the organisation.
Not as simple as it sounds as the stakeholders speak the business language, not necessarily as project deliverable, and they will speak in terms of solutions and not needs.
This is because they are connected like you see. One focuses on change while the other on process, however both eventually make the business inch towards desirable benefits and thus the overall business objective is met.
This fact has caught the eye of many organisations. It is now clearly understood that business analysis has become a critical competency of importance to project management. Hence getting certified as a business analyst expert can move your career in a better direction, it is beneficial specially due to the rising opportunities in the field of business analysis. Organisations have understood that with the combined skills of both disciplines, they can open the doors for superior project management capabilities.
Rather than getting lost in the conflict, with a certification in Business Analysis, organisations can now look at integrating both the roles to ensure that projects are properly carried out and directed towards creation of business value.
A certified business analyst can add value project management by clearly understanding the business needs, and further translating it into feasible project requirements, all the while maintaining involvement of the stakeholders in the project.
The Business Analysis Body of Knowledge BABOK® and the Project Management Body of Knowledge PMBOK® both the guides give insights, about how on every stage of execution, a professional with BA certification will benefit the organisation, or add value to the PMBOK® Guidelines, on not only Eliciting information from the stakeholders, but will also add to the requirements expected like, Planning and Monitoring, from the Project Management point of focus.
It is interesting to know that the top three reasons of project failure, is the inability of the organisation to gather accurate requirements. Most of the issue and the core solutions are lost in transit. However, if an individual is trained as a Business Analyst, and understands how to shape project outputs to achieve intended business outcomes, then the solution arrived will not only be accurate but dynamic in nature.
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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So at long last, you have decided and wanted to take up the most desired confirmation in the Business examination space after much tarrying and thoughts. Most importantly I should praise you on your plans of getting confirmed. That is the best blessing potentially you can give your expert profession.
Uplifting news is that an ever increasing number of experts are taking it up and making it all the more sought after. The underlying trepidation on the new example of CBAP certification exam on BABOK v3 appear to be blurring with this notoriety.
IIBA has likewise as of late declared the dates for the v3 exam comes about after the benchmarking of the pass score is finished.
Out of the considerable number of information sources we have in most recent couple of months, you can take these outline and get ready in like manner:
• The inquiries will be a blend of case and situations, cases will be very long, be set up to peruse long cases
• Situations are short however the choices are the testing since there are no less than two which are near each other
• No retention of data sources, errands and so on required like V2
• There will be computation based inquiries with decimals and so on so be set up to do the counts
• Need great time administration to answer all inquiries
Get ready for the CBAP accreditation exam can be an overwhelming undertaking and here there are few hints to enable you to clear the exam:
Set an Action Plan
Having an activity design is essential, regardless of what exam you’re planning for. Get hold of the investigation materials and settle on how long or week you have to get ready for the exam. Consider on the off chance that you’ve some essential venture running in your office.
Defining an objective and attempting your best to accomplish it can go far in beginning on with the voyage. A 3-month planning time is pretty sufficiently much for CBAP exam. You can likewise enrol for the exam well early as to submit yourself for a broad arrangement.
Gather Your Resources
Assets and study guides are fundamental, so ensure you have them all. BABOK or Business Analysis Body of Knowledge is the Bible of individuals planning for CBAP exam. In any case, it can be a lot for one thing. It’s better in the event that you search for books and aides that give you an unmistakable comprehension of the essentials of business examination in a less demanding way. There are many in the market and search for ones that offer stories and theoretical situations. Read audits before picking one.
BABOK— the Quintessential Guide
Regardless of which control you begin with, you’d need to in the end wind up with BABOK. Get ready for the CBAP exam is fragmented without experiencing BABOK by heart. Make a point to peruse each and every thing in the book to connect all the information you picked up from the various examination materials.
Show Your Knowledge
While remembering the terms given in BABOK is more than a need, having the capacity to apply those ideas is additionally vital with regards to progress. In the CBAP exam, you’ll gone over various situational situations and an unmistakable comprehension of the dialect and use of the six information ranges is basic. You have to adjust your business investigation experience and abilities with the exam inquiries to succeed.
Have a Clear Understanding of the Concepts
Basically looking over parts will accomplish more damage than great to your arrangement. Keeping in mind the end goal to pass, you need a legitimate comprehension of the thoughts and idea and apply them to whatever setting you’re given in the exam lobby. Try not to hustle while giving answers—read and think precisely before endeavouring each inquiry.
The best possible example of the usage of big data analytics can be found in the legendary fictional works of Sir Arthur Conan Doyle. Sherlock Holmes, as we all know him today through the famous crime detective show, Sherlock is said to be one of the biggest patrons of this concept. The world’s first consulting detective, Holmes once said, “It is a capital mistake to theorize before one has data.” These words uttered during the case of A Study in Scarlet, hold true as data proved to be his timely assistant in solving extremely difficult cases, by helping him come to perfect deductions.
As we accumulate more and more of this data, we feel the need to have optimal processing skills and analytical capabilities in order to process it. India, as a country has been making a lot of growth with many government agencies and private companies, getting on board with the data analytics revolution. Continuing in the same vein, the Comptroller and Auditor General (CAG) has also put together the ‘Big Data Management Policy’ for Indian audit and accounts departments, in order to foster the use of data analytics and ensure the improvement of their functions. Many more efforts are being taken in the same regard, like for instance the Centre for Data Management and Analytics (CDMA) has been inaugurated, in order to synthesize and integrate relevant data for auditing process. The aim here is to exploit data rich environments, on both the state level as well as the central level in order to develop the audit and accounts department.
Data has always helped humans in increasing the level of their decision making skills, in every field of medicine, science, and technology. The recent couple of years saw a great surge in the availability and accessibility of Big Data and its storage options. With big data coming to the fore, it has begun arriving on the scene with alarming velocity, volume, and variety. With so many technological advancements revolving around the accessibility and storage, have led to the opening up of new and empowering possibilities.
On the other hand, there are DISCOMS, which are set up for capturing all the data from the sensors, which are installed in order to analyse the power usage patterns, so as to put together preventive measures for Aggregated Technical and Commercial losses. All the cloud based and predictive analytics solutions given by industries in retail, telecom, and healthcare, have collectively resulted in the rapid growth of the country’s industry and economy. Today as it stands, India has about 600 data analytics firms, in addition to the 100 new start-ups, that have been set up in the year 2015. This clearly reflects on the demand for data scientists in the not so far away future. This is why a number of students have been attracted to the field of data science. As not many generic educational institutes are able to provide the required training, many candidates seek help from professional training institutes like Imarticus Learning, which provide a number of industry endorsed courses in the field of Finance and Data Analytics.
There exist a number of free and accessible Python Machine Learning resources in the market today. While it may be true that anyone can begin their learning process, in a hassle free way but, the amount of variety poses a threat of confusion. Many data aspirants undergo a number of apprehensions like deciding which course to take, how to proceed and most importantly, where exactly to begin.
In order to reduce your apprehensions, we have got here a complete guide to being efficient at understanding and mastering, machine learning with Python. Let’s begin with tackling one of the most important questions, which is ‘Where to Begin?’ While everyone, regardless of the field of study they belong to, faces this question but, it would be agreed upon that to begin somewhere, is the hardest step to take. Couple that with having to make a choice from among the multiple options and you land up confused and staggering.
There are a number of professionals who code but have sufficient working knowledge about computer science. Similarly, if you are looking to get trained in Machine Learning with Python, you don’t need to have a through theoretical knowledge, the practical side more than makes up for it. There exist a number of source libraries, which help with the machine learning aspect, while working with Python. A few of them, those that are known as scientific Python libraries, can be distinguished by the names, nymph (used for N-dimensional array objects), pandas (python data analysis library), matplotlib 2D plotting library) and so on. If you are well aware of the variety of topics of machine learning, which make it easy to work with Python and with the help of professional training courses, it would be a cake walk.
Assuming that the reader is a novice at Machine Learning, Python and any data analysis resources, scientific computing or any other related resource. Let’s begin from the basics, to begin with, you are required to mandatoraly have a certain amount of foundational knowledge about Python, in order to make use of it in Machine Learning. When it comes down to it, your level of experience and comfort in the usage of this data analytics tool, would help you choose the proper starting point. To begin with, you have to first install the Python software, using one with industrial strength implementation for operating services like Linux, Windows is always better.
As most of the work of a Data Scientist revolves around Machine Learning algorithms, it as a whole reflects the field of Data Science. For an aspirant, it is not very important to thoroughly understand kernel methods, as opposed to being well versed with the practical usage of the same. Like they say, practical application of any particular tool, is entirely relative to the theoretical understanding. Machine Learning, in particular, is a concept which very few can learn on their own. This is why most people tend to opt for professional training institutes. Institutes like Imarticus Learning, usually focus on teaching various data analytics tools and machine learning, with a more practical approach coupled with case studies and mentoring from the industry experts.
2016 has seen a massive spurt of popularity for the field of Big Data Science. With concepts like Artificial Intelligence and predictive analytics, coming into the limelight, the whole world experienced the dawn of a new era in terms of the field of information technology. We are all aware of the various marvels that can be performed with the help of data analytics. Some very popular examples could be the growth and development in Artificial Intelligence, the various employee enhancements strategies of the Human Resources Departments, the fact that the entire world could be going cashless soon enough and so on. But did you know, that big data is now can be advanced enough in healthcare industry, to stop and fight infectious diseases?
Earlier in the early, post modern times, it was a huge task to be able to track any kind of disease at all. Probably this was why there were a majority of outbreaks of epidemic diseases. Medical information was either unavailable or there was no medium through which it could be kept a track of. With the advent of technology it became very possible to store huge amounts of medical records on the PC’s. But then, as there was no way to connect countries wirelessly, it was impossible to inform everyone about certain outbreaks. This was because you would have to print every single piece of information and then take the pains of actually going ahead and transferring it to different quarters. But with the advent of the internet and now with the advent of Big Data Science, the scene has changed drastically. What earlier seemed a fable like thought, today seems a possible reality. With the help of various data analytics tools today, it is soon going to be possible to map various diseases, their impact as well as, make it possible for asserting predictions.
Outbreaks are usually found in places with high chances of exposure, like for example hospitals or places with a large number of infected people. Big data would be able to track such occurrences, which are also known as “healthcare associated infections”, the benefit of which will help us then map the spread of such diseases. While on one hand, it was difficult to map these diseases in the early days, mainly because of the fact, that with time they changed as well. But today, with the concept of evolving maps in place, in addition to being interactive, these can map the progress as well as intensity of the diseases. These diseases are usually known to make rapid shifts in terms of how it spreads and where it spreads to, this is where the maps will be able to serves perfectly, mainly because this will help professionals to go on and predict of the next place, that the disease might affect, thus in a way forewarning. There are many efforts being taken to develop such data simulation systems by a number of Data Scientists. This is another reason why the field of Big Data Science has begun to attract more aspirants.
If you are planning to earn career in data science, then Imarticus Learning offer various business analytics courses in both online and classroom mode
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 with 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.
Business Analyst as the name denotes, is a professional who is supposed to analyze any type of a business, then may it be a firm, an online portal and so on. Some of the major responsibilities of a business analyst constitute doing an in-depth analysis of a firm’s strategies, organizations, and policies. Furthermore, it is the responsibility of this professional to sieve through the various problems and try and find out solutions for the same. They document the various process that go on under the umbrella of a firm and try to solve any arising problems.
Does the above sound like something you would be adept to do? Have you been contemplating of venturing into the field of business analysis? Listed below are few of the qualities, that make for a very good career in business analysis. Read on to know if you fit the bill.
Having An Eye For Detail
If you feel that you can confidently pick out the proverbial needle out of the haystack, then this field definitely appreciates your nit-picky qualities. Business Analysts are people who more often than not are the mediators of conversations, they are responsible for getting people to communicate and hash out differences, which could be potentially liable to business. If you believe in the gleaning process, of getting to the root of the problem, finding great ideas amidst an incoherent mess, then this field is for you.
Technicalities Are Your Comfort Zone
Be it looking for a solution or implementing it, a BA always needs to be equipped with in-depth technical knowledge about the requirements of the firm. Whether you are considering work in capital markets, technical writing, project management or recruitment, being in tune with all the technicalities in indispensable. This field will fit your personality perfectly if you have always liked being in the thick of things and are interested in being responsible for bringing about changes. There are aptitude tests so as to check whether your career choice fits your personality.
Wasting resources or getting work outsourced are two things that a BA would never go along with, mainly because it is their job to untangle internal knots in the set boundaries. Mediator skills make up for important components of a BA, as they are the ones responsible for conflict management most of the times. BA’s are professionals who like to get the proverbial ball rolling; facilitating meetings, brainstorming sessions, being hands-on for every crisis are some of the skills that are required off of them.
Imarticus Learning offers certification courses in Business Analysis that are specifically designed for careers in various functions like technology, operations, and finance. They offer industry endorsed courses, with expert professionals as their faculty and provide a well rounded program for candidates looking for a career in Business Analysis.
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By Arun Upadhyay.
Apps and self-service
With the continued growth in data and the consumerisation of IT, everyone will have the need for business analytics in order to make smarter decisions. Everyone is a decision maker in one way or another in their role within a company. They should have access to data essential to their jobs, with the ability to analyze and make decisions based on data insights to drive productivity.
Today business intelligence (BI) has a less than 30% adoption rate in the enterprise (source: Gartner). Unfortunately, it is still the domain of professional analysts, with business analyst training, who use complex tools and spend most of their time analyzing data, and managers who view reports and dashboards. Often, the remainder of operational employees still do not have direct access to information to help them make better decisions. A key step in ensuring a high adoption rate is realizing that ‘one size’ does not fit all when it comes to BI and analytics. It is critical that various users are served by the right approach – analysts with tools, front line workers with handy apps.
The digital skills gap
Despite the benefits of driving BI and analytics use across an organization, the role of the analyst and data scientist is still of great importance. There is high demand for these roles but unfortunately not the supply to meet it, leading to a world-wide digital skills gap.
Data warehouse decline
Data warehouses used to be a centerpiece of analytical architecture, but they’re increasingly just another data source that gets used for analytics or operations. With an increased emphasis on Big Data stores, the structured data warehouse is becoming more difficult to justify. That said, there’s still a strong need in some areas for data that’s clean, reconciled across multiple domains, and structured for rapid analytics. The warehouse isn’t going away, but it’s going to be more important than ever to have a very strong business case to justify it.
Future of Analytics
Analytics industry and its usage is increasing by leaps and bounds and there is huge shortfall of Analytics skillset across domains. Those days are not for when every area of life will have some implementation of Analytics. For Businesses it would be difficult to survive without a powerful Analytics implementation.
Imarticus Learning offers business analyst course, business analyst certification online, big data courses in India, as well as financial analyst courses. It offers both classroom and online courses making it extremely easy and flexible for an aspirant to pursue their dream career.
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