What is a business analyst, and how do you become one in 2024?

As many people pivot into tech, the job market becomes more saturated, and new talents are seeking more opportunities that have less to do with web development and programming. Well, there are different roles in the tech sector that have less to do with software engineering and might be a good fit for your skills and talents, and in this article, we will do justice to one of those roles to the best of our ability.

What is a business analyst?

Photo by Mohammed Hassan on pixabay

A business analyst sounds like one of those roles that exist to fill in quotas on first hearing. What business are they analyzing anyway? But a business analyst is far from that, and in many cases, a business analyst could be the most important employee in a company.

A business analyst is someone who improves a company’s or a business’s efficiency using data-driven decisions. They identify areas where improvements can be made to improve the business’s strengths and efficiency, and they work closely with everyone in the business hierarchy to share insights, communicate findings, and help implement changes. 

In person, business analysts are like data analysts and project managers in the same individual, and depending on the nature and demands of the company, they might be needed to play the role of project managers.

What skills does a business analyst need? 

A business analyst does a lot of things for one employee, so they have a wide range of skills they need to be effective in their given tasks. Some of those skills include:

• An ability to communicate

• Technical skills

• Analytical skills

• Problem-solving skills

• Decision-making skills

• Ability to negotiate and persuade

• All-round flexibility 

• Ability to be a manager

For the most part, business analysts spend time communicating with other employees and stakeholders to make sure that projects are running smoothly. These skills are a given for the work they do. 

Having good analytical skills is also a given. Business analysts work with large amounts of data and are expected to analyze it and make decisions based on their analysis. 

Very similar to data analysts. 

However, as much as they both work with data analysis, data analysts work with data only, while business analysts do everything possible to improve businesses while managing projects. 

How much does a business analyst earn on average? 

You can probably tell that the work of a business analyst is a lot, and getting there is no easy feat either. But the pay is good compensation for how much they go through. 

On average, an analyst could earn up to 750 thousand naira per month. Salaries could range from 380k to 2 million monthly. Enough to set yourself up for a good living. 

In the US, they earn around $90k on average, which is around $7.5k monthly. In the UK, the salary is around £50k per year. Keep in mind that it is possible to work fully remotely, and there are opportunities to earn bonuses depending on who you work with. 

It is up to you if you want to work in Nigeria or not, but getting good opportunities abroad is very possible. 

How do you become a business analyst? 

First, you need an MBA… 

Just kidding. Until recently, there weren't any specific requirements for being a business analyst. The role is still developing, and people from different disciplines are joining in, provided they have the skill set and required experience. 

Many people who go into business analysis have prior experience as developers or data analysts. Others have business degrees with some tech experience. Recently, some people have been getting certified directly from universities, as BA degrees are now being offered by those universities. 

So, the most important thing is to first get an instructor or a course so that you can start to learn the required technical and analytical skills. Then you need to work on projects to develop the necessary experience. This will help you develop the other soft skills you need to carry out your duties efficiently in a professional setting. 

You can also take courses and get certifications as evidence of your knowledge and skill set. This makes the process of creating a CV much easier, and it makes it easier for recruiters to see you and consider you for the role. They might be expensive to acquire, so make sure you apply for all the financial aid you can get your hands on. 

Should you be a business analyst? 

If you don't earn as much or you want a new career path, then why not? 

It is a good field to pivot into, and the prospects are endless. Also, given how volatile the tech industry is, it is a good idea to learn more and upgrade your skill set to fit different roles as much as possible. You never know where you'll be in the next five years. 

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