You don’t have to know much, or even anything about data science to be aware of terms such as cloud computing, algorithms, and big data. ‘The cloud’ has become a common topic of conversation, and thanks to services such as Google Drive and iCloud, many people are using cloud computing on a daily basis without even really understanding what it is or how it works. Business analysts are the people who analyze this data, and this is quickly becoming one of the fastest growing jobs of the decade. Business analysts can be found at a variety of different organizations, including small companies, Fortune 100 organizations, universities, government organizations and non-profits.
A business analyst’s main role is to aggregate data in order to find out how their organization can best leverage this data in order to work more effectively and efficiently. By the year 2020, business analyst jobs are expected to increase in demand by over 20%, and the role has been named the ‘sexiest of the 21st century’ by the Harvard Business Review. Currently, the growth of technology is exceeding the supply of qualified analysts, making this job one of the most in-demand and a role that promises great job security.
How to Become a Business Analyst
For the majority of business analyst roles, you will need to have a suitable undergraduate degree in finance, analytics, data science, business, or similar. Although you can study business analytics at an undergraduate level, one of the most popular pathways into a career as a business analyst is to begin with an undergraduate degree and then go on to take a postgraduate course, such as an online master of science in analytics. Having a master’s degree has been shown to improve graduates’ chances of getting a job, whilst many entry level analyst roles will offer higher benefits to those students who have graduated at this level. Whilst studying for your degree, you may find that gaining work experience for a company as a business analyst or similar will help you to get your foot on to the career ladder in this already competitive industry.
As an analytics student, whether you’re studying on-campus or for an online MSA degree, you will be taking the first step onto a career path which has plenty of lucrative opportunities. With qualified analysts constantly in demand in an ever-changing and developing technological era, you can expect your career as a business analyst to be one that is filled with opportunities for promotion and higher earning potential. Business analysts often begin their career working in the employment of another company. However, many go on to become highly-paid independent consultants who run their own business as an analyst.
If you enjoy data, finance, and analytics, becoming a business analyst could be the perfect role for you. Business analysts work with companies to collect, analyze, and apply data, and with more and more data being made available due to technological advancements, qualified analysts are in high demand.