A business analyst is a person whose work primarily consists of analyzing and helping businesses improve their operational efficiency. An analyst is a part of the business planning team and is responsible for analyzing the business and presenting to the management what they have determined as being the needs of the business and what can be done to address those needs. In many cases, it is common for an analyst to also act as the business planner, as he or she is responsible for determining where resources should be spent in order to best implement the strategies laid out by the management. While many people view an analyst as someone who analyzes the business from the top down, it should be noted that in the US, the term ‘business analyst’ refers only to one job position – that of the business planner.
Generally speaking, this job position requires someone who has the technical skills required to create financial statements, profit and loss analysis, and business plans. The analysis that these documents require often makes it difficult for people with no prior experience in the field. Furthermore, those without previous business experience often find it difficult to understand how to analyze the complicated financial statements that are necessary to create accurate business plans. However, business analysts are not required to have a degree in business to qualify for this position; instead, a degree in mathematics, computer science, or accounting is usually required.
If you are interested in working in the business field, becoming a business analyst is a great way to gain experience and build a base of knowledge before considering a broader career. If this sounds like the position for you, then it is important to note that there are a number of steps that must be taken before finding employment in this field. For example, some employers will not hire business people without at least a bachelor’s degree in a related field. Some positions will also require experience working with businesses large and small; therefore, it is imperative that you work closely with experienced business people before even considering applying for a position in one of these smaller companies.