Business analysts play a key role in modern businesses, helping to evaluate the data from past and present business activity and using it to steer a company in new directions or solve existing problems. In today’s competitive world, businesses are keen to gain an additional edge over their rivals, and often part of this is in ensuring they have a highly skilled business analyst or analytics team. For those starting out in their career or considering a new career direction, there are several reasons why a business analyst career is one you should consider.
Long-term career prospects
Business analytics is a growth career, meaning that demand is high and likely to continue to grow. The skills a good business analyst needs include an analytical mind, creativity, critical thinking, and good communication. When becoming a business analyst, you can feel confident in job security, with a career that can last for your entire working life. There are also likely to be good prospects for promotions, taking you into the higher levels of a business. If you should change your geographical location, you will likely still be able to find plenty of job opportunities both in your current country and beyond.
Ease of access
Business analytics requires a range of skills that you may have picked up elsewhere. It may be possible for you to become a business analyst without undertaking any additional or specific qualifications. However, this depends entirely on the individual company. You should look at job specifications carefully before applying to see if your existing qualifications and experience are sufficient.
It is certainly true that gaining a specific qualification in business analytics will help you stand out from the crowd, even if a company does not necessarily demand it. Courses are springing up to meet this demand and you may find that you can gain these qualifications quicker than you expect.
For those who require the flexibility of study or who do not live near an establishment offering a business analytics course, you should consider online study. Many top universities offer courses that can be accessed from the convenience of your own home, anywhere in the world. For those who already hold a degree, a good option is the online master’s in business analytics from Aston University in the UK. Welcoming applicants from anywhere in the world, students of this course work through practical business applications, study relevant case studies, and gain hands-on experience with today’s most in-demand technologies through 100% online part-time study.
No two days are the same
If you want a varied career where no two days are the same over the monotony of a routine, then business analytics is an excellent option. You will likely have a fair amount of flexibility to arrange your own tasks, with a mixture of research, analysis, problem-solving, and decision making. The problems to be considered will always be different and the business will continue to develop, continually taking you in new directions.
Technology is increasingly playing a major role in business analytics and that too is continually in development. Business analysts will always be learning as technology and industry changes, making it an ideal choice for those keen to broaden their mind and that love learning something new.
A range of career options
A qualified business analyst has a range of career options open to them. Disciplines can include finance and accounting, human resources, strategic management, operations, and marketing. With many business analysts also having good leadership skills, they may find themselves in senior roles such as project leaders or even in leading roles in their company. With good IT skills, the business analyst may become more comfortable working in that field, analyzing data or developing software for data management. With so many companies now requiring business analysts, you can find yourself in virtually any field that interests you. From retail to healthcare to banking to tourism – the possibilities are endless.
Using existing skills and experience
A regret many have when considering a career change is the waste of their existing qualifications, skills, and experience. However, this is unlikely to be the case if you make the move into business analytics. As already discussed, business analytics has a place in so many different fields that you are highly likely to continue drawing on your existing knowledge and that will be an asset to you when applying for work.
The skills that business analysts require, from communication to an analytical mind to technical ability to problem-solving, are likely to be skills you have already developed through work or study, even in an unrelated field. It can be very satisfying for those who move into business analytics that nothing is wasted.
The pay
While everyone is eager to earn a good salary, lucrative pay deals are likely to be no compensation if the work is monotonous with few prospects for future developments. However, if you can enjoy a varied, challenging career where no two days are the same with excellent promotion prospects and it comes with a strong salary, why wouldn’t you consider such a career? Business analytics certainly fits all these criteria. In the US in 2022, the average salary for a business analysist was over $77,000 with the highest paid earning over $100,000. Wherever you choose to work, you are likely to find similarly strong salaries.
Is this the career for you?
While only you can decide if this is the right career option for you, the many advantages of a business analytics career certainly make it an option worth carefully considering. If you are worried you do not have the skills for this role, these can be acquired, with online study making it a possibility regardless of your physical location. Business analysts usually report high levels of job satisfaction, so if you do choose to go down this routine, you are unlikely to look back.
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