Business Analytics As A Lucrative Career Option
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Eshna

Last updated March 10, 2017


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The Rise of Business Analytics As A Lucrative Career

A business analyst is tasked with aggregating data and then figuring out how their company can leverage that data to not only operate more efficiently but also more effectively. Also called data scientist, this position has been referred to as the sexiest 21st century job by Harvard Business Review. The U.S. Bureau of Labor Statistics predicts that business analyst jobs will grow by 22% by the year 2020.

Sadly, our technological growth has surpassed the supply of qualified individuals. Over 90% of data in the world today was created in the last two years only, and it is impossible to keep up with this exponential demand. A recent report by McKinsey & Company shows that by 2018, the U.S. alone could be facing a shortfall of 140,000-190,000 analytics professionals. It also goes ahead to say that there could be another shortage of 1.5 million managers as well as analysts with know-how to make use of big data for making effective decisions (Source: Mckinsey).

In order to keep abreast with the rising demand and bridge the talent gap, universities and colleges have come up with pioneering master’s degree in the field of business analytics which are perfect for recently graduated individuals with quantitative backgrounds like science, math, business or engineering degrees. A student’s chances of landing a job of business analyst have been shown to increase significantly if they acquire a master’s degree.

How to launch a career in Business Analytics?

There are many ways of becoming a business analyst. In order to give yourself a competitive edge as well as increase your chances of success, it is important that you get business analyst certification. Every business analyst typically starts out with robust IT and business skills. Additionally, a deep understanding of a specific industry or the vertical market is an added advantage. For instance, human resource, telecommunications or even manufacturing professionals may take their deep knowledge of these industries and move to the career of business analytics by simply enrolling in a certificate program of business analyst.

The following are the various ways to launching a career in business analytics

Straight from college:

After earning a bachelor’s degree in business, accounting, information systems, human resources or related fields, the next step to securing a business analyst job is to enroll in business analysis certificate course. This will equip you with the necessary skills and knowledge that you require to immediately transition to business analyst career.

From A Software Developer to a business analyst:

If you are an experienced software developer ad you have come to a point where you need a fresh challenge, you could consider transitioning to the career of business analyst. Software developers have communication, data mining and analysis skills which make them ideal candidates of becoming business analysts. Also, their deep understanding of software development lifecycle is an added advantage. By simply adding to this skill set business analysis certification, a software developer is good to go insofar as launching a career in business analytics is concerned,

Industry professionals:

It is common for people to change careers. When you feel ready to take advantage of specialized industry skills that you have acquired and move your career to a new level, you may want to consider enrolling in business certificate course. This gives you well-rounded and up-to-date skills that will make you stand out from fellow job-seeking individuals.

Business Analyst Certifications:

After completing a professional business analysis training course, the next step is to figure out how you can earn industry-respected certification which then validates your newly-acquired skills. The business analyst certification gives you immediate competitive advantage. By passing IIBA certification exam (International Institute of Business Analysis), you will become either a CCBA (Certification Competency Business Analyst) or a CBAP (Certified Business Analysis Professional). This gives you confidence as you know that you are up to the task to handle just about any challenge in the field of business analysis. And given that CCBA® and CBAP® tend to be highly regarded by employers, your chances of securing your dream job in business analytics will have been helped mightily.

What else can you do to improve your chances?

In case you are currently employed in one field and would like to move over to business analyst career, try getting involved in any change or projects ongoing in your company. Examples of these include helping out with testing, designing or writing procedure manuals and contributing to ideas in workshops. This way, you get a chance to work closely with business analysts and get to understand more about the nature of their work as well as how it is done. It also gives you examples that you can relate to when applying for a position in business analysis.

Do you have what it takes?

Of course, not everyone can be a business analyst. Therefore, before you make the switch to the lucrative business analytics career, you need to take a moment and see if you make the cut.

If you happen to be good at analytical thinking, have a knack for solving puzzle, enjoy working with other people, are excellent at matching organizational problems to solutions and are not afraid to take technology head-on, you possess all it takes to become an accomplished business analyst. You can start exploring the available options for business analysis programs. Also, continue working towards your target of acquiring business analyst certification and you will be on your way to joining this lucrative and exciting challenge.

Conclusion

A career in business analytics is very lucrative. You will get a job easily provided you have the right qualification and certification. Getting a master’s degree will help you get a job much faster as employers prefer those with master’s degree over bachelor’s degree. The U.S. Bureau of Labor Statistics predicts that the business analysis jobs will grow by 22% by 2018, which is good news for those interested in taking a career here. With a big shortage of these professionals looming, you have a great chance of becoming a successful business analyst is you take steps now. It could be the best decision you have ever taken.

About the Author

Eshna is a writer at Simplilearn. She has done Masters in Journalism and Mass Communication and is a Gold Medalist in the same. A voracious reader, she has penned several articles in leading national newspapers like TOI, HT and The Telegraph. She loves traveling and photography.


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