How To Succeed In A New Business Analyst Position?

 

I am a starter / entry level business analyst.

How do I succeed in my new business analyst position?

Answer

First of all, let me tell you, you have not given any details as to what you are currently doing, and what your qualifications are. With little information, it is hard to guide some one. However, I will try and explain what it means to be a business analyst today.

Today businesses are constantly seeking ways to cut costs and increase profitability, while maintaining strict performance requirements. They need strategies and processes in place to achieve these goals. They always look for ways to improve businesses to stay ahead of competition.

A business analysis is a bridge between stakeholders like clients, solution teams, third party vendors, business teams, IT teams etc.

He/she analyzes the business processes, procedures, policies and requirements, and provides recommendations for improving business.

In other words, through the recommendations a business analyst gives, a company seeks to improve its business and make maximum profit. So you can imagine how critical the role of a business analyst in an organization is.

A business analyst:

· Identifies areas of inefficiency in the existing system

· Analyzes business requirements

· Suggests processes for integration with technology

· Recommends ways to increase productivity

Roles of Business Analyst

A business analyst carries out a myriad of critical roles in an organization. Some of them are:

· Gathering requirements

· Providing detailed analysis of the data collected

· Preparing a business/user requirements document

· Preparing an estimate of cost and effort involved completing the project

· Ensuring data integrity

· Providing data quality and validation

· Preparing test scripts and executing test scripts

· Preparing an estimate of cost and effort involved completing the project

· Creating a project initiation document with project scope, goals, execution methods and the like

· Creating business models, process models, data models and workflow models

Required skills

Following are the skills required:

· Excellent writing and speaking skills

· Interpersonal skills

· Knowledge of technologies like J2EEE/.NET and Web-based technologies like JS/HTML/ASP

· Knowledge of SQL, data analysis, reporting, UML, Visual Basic programming, and Microsoft Office Automation

· Analytical skills

· Problem solving skills

· decision making skills

· A good business understanding

Make sure you are familiar with concepts like:

· Mergers and acquisitions, capital markets and money markets, ratios like as P/E, IRR, ROI, EPS, concepts like equity dividend and budgeting, merchandising, procurement, shipping, logistics, inventory, supply chain, customer behavior, customer relation management(CRM)

· Logical data dictionary and the benefits of maintaining one

· The Solution Assessment and Validation knowledge area of the BABOK v2.0

· Requirements Analysis knowledge area of the BABOK v2.0

· XML Schema and its purpose

· Similarities and differences between a UML Class Diagram and Object Diagram

· Stakeholder Analysis and benefit of the business analyst

· Active Listening and benefits

· Six Sigma

· Definition of the term Requirement

Qualifications

Having an MBA is not just good enough to get a job. You must concentrate on developing the above mentioned skills in order to get a business analyst job. You try to get some work experience in the field of business or IT, prior to applying for a business analyst job.

Tips

You must do these things to get a job.

· Get an online training program

· Developing required skills

· Network with people in the industry

· Gain work experience

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