Top 5 must-have skills for an aspiring business analyst
The function of a business analyst is to review how a company operates, suggest methods to improve processes on the basis of data analysis and solve existing business problems. This can be a lucrative and rewarding career option for commerce and economics students. They can pursue this field after Class XII board exams. Undergraduate courses available for students include BBA General and BBA in Business Analytics. Chandigarh University, Chandigarh, Presidency College, Bengaluru and Sharda University, Greater NOIDA, are some of the institutes where aspiring business analysts can study this programme. Here are the top 5 key skills that every aspiring business analyst should develop to excel in this field.
Communication skills
As a business analyst, having strong communication skills is essential. Clear communication is necessary for assessing vital data and interacting with higher management. A business analyst must be able to clearly define the main agenda and provide brief and concise explanations of all queries. Be it at the initial stage of a project, or while engaging with stakeholders, good communication skills help a business analyst in more ways than one.
Smart Tip: Focus on your language and articulation skills alongside the core areas of business analysis.
Problem solving and analytical skills
To be successful in this field, a business analyst must have problem-solving and analytical skills. To go beyond the goals, he must effectively assess and convey the fundamental needs while solving challenges quickly. In order to use problem-solving and analytical skills for client satisfaction, a thorough awareness of the needs and wants is required. Business analysts should be able to identify and determine the root cause of the problem, find solutions and implement them as per the existing requirements.
Smart Tip: Indulge in board games and fun activities that enhance problem-solving skills.
Negotiation and cost-benefit analysis
Every business analyst should have the ability to negotiate. Negotiation skills are utilised in the early stages of a project to determine what must be included in the project. The business analyst's negotiation skills are then used to establish which requests become requirements and fix their priority levels.
Technical decisions are also made through negotiation skills. They need to use a cost-benefit analysis to evaluate the estimated costs and advantages of a project.
Smart Tip: Make sure that you don’t under-sell anything. Before going for a negotiation do a thorough research on the industry rate of a product or service that you are going to sell.
Organisational skills
To be a business analyst in any firm, you must have excellent organisational skills. Goal setting, project management and time management are some of the crucial organisational skills needed by business analysts. Having these skills is required for effective project management, employee management and budget management. It will also help in the completion of all assigned tasks within the set deadlines.
Smart Tip: Prepare a routine and to-do list and get into the habit of sticking to it. This will enhance organisational skill.
Decision making skills
A business analyst's decisions have a direct and indirect impact on the company's operations. He needs to understand factor in all the pros and cons and analyse various business approaches before making a choice. Business analysts also make the final decision on whether or not a technical design meets the established business criteria.
Smart Tip: try to be part of major family decisions. Also, practise weighing in all the available options.