Over the years, we’ve seen the rise and fall of so many promising companies in India, and globally. The unpredictable nature of these companies means that the demand for business analysts have risen drastically.
Companies are actively taking steps to improve problems within their teams and business analysts play a key role in ensuring this. The demand for professionals in business analysis continues to grow and if you’re wondering how to become a business analyst, then you’ve come to the right place.
Let’s begin.
What is a Business Analyst?
So, who is a business analyst and what do they do?
Business analysts are professionals who play a key role in helping improve the processes within a company, eventually helping the team grow. They do this by analysing how the business works, figure out areas for improvement and propose solutions to tackle those issues.
To understand more about what a business analyst does, here are some of the key roles and responsibilities:
- They examine various aspects of an organisation, such as processes, utilisation of manpower, and how technology is being used. They look for inefficiencies or obstacles that hinder the company from achieving its goals.
- They analyse data, including sales figures, customer reviews, and internal surveys, to learn more about business functions. They look for trends and patterns that could help them identify areas for improvement.
- Once they’ve identified problems, business analysts develop solutions to address them. These solutions could vary from introducing new technologies to streamlining processes or restructuring teams.
Ultimately, business analysts are vital in ensuring a company runs smoothly and efficiently.
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Step-by-step Guide to Become a Business Analyst in 2024
If you’re wondering how to become a business analyst, it is important to know that the journey requires a fair bit of planning. It involves building up specific skills and following a strategically planned path. Here’s a breakdown of the steps you’ll need to follow if you wish to become a business analyst:
1. Learn the Fundamentals
Like most professions, understanding the fundamentals of business analysis is the first ask. The basic three step approach to solving a problem involves gathering requirements, modelling processes, and designing solutions. You can refer to numerous online resources to get a better grasp. You can also take classes through professional organisations like the International Institute of Business Analysis.
2. Get a Formal Education
Although not absolutely required, you can consider pursuing a degree in business administration, information technology, or a similar field. A degree will help you build a strong foundation in business processes and terminology.
3. Work on your Analytical Skills
Analytical skills are highly sought after in today’s corporate world. Taking a data analytics course can help you learn how to collect, analyse, and interpret data. Through these courses, you also gain exposure to data tools like SQL, Excel, and data visualisation software (Tableau, Power BI). These tools are what you’ll be using once you break into a professional setup.
4. Build your Credentials
Your track record can potentially be what sets you apart from other candidates when you apply for jobs in future. Try building a strong one by working on personal projects or getting involved in internships or volunteering for non-profits, small companies, etc.
This will allow you to hone what you’ve learnt and add to your experience.
5. Network and Apply for Jobs
The final step is where you actually go out and seek opportunities. One effective way of doing this is by networking with professors, professionals and maybe alumni who work around business analysis. Your network can help connect you to new opportunities and also give recommendations when you do apply for roles.
Finally, ensure you have a strong resume that captures all your skills, your achievements and your experiences. You can apply for new opportunities on foundit.
Key Skills Required for a Business Analyst
So, before you get started on your journey, it is essential to understand what are the skills required for a business analyst.
- Business analysts need strong communication skills to gather requirements and present their findings and solutions. This helps avoid gaps in communication and ensures that they are understood well by both technical and non-technical stakeholders.
- Problem-solving and critical thinking are probably the two most inherently essential skills that business analysts must have. For seasoned business analysts, their ability to identify problems and find solutions are almost instinctive, having garnered years of experience.
- Similarly, strong analytical skills are equally important. You will constantly come across new data and situations that you will need to understand in depth. Your analytical skills will help you interpret the data, identify trends, and draw meaningful conclusions.
- While not always mandatory, knowledge of databases (SQL), data analysis tools, and basic programming languages (Python, R) can be a big bonus as you will be actively working around them.
- The ability to build rapport, actively listen, and interact with different people will help you go a long way in successfully collaborating with different teams.
Business Analyst Salary in India
If you’re wondering whether pursuing a career in business analysis is the right decision, purely from a compensation perspective, then the answer is a definite yes!
The table below highlights the average range of monthly salary of Business Analyst freshers across a few popular industries:
| Industry | Average Monthly Salary (₹) |
| Information Technology (IT) | 45,000 – 55,000 |
| Banking, Financial Services and Insurance (BFSI) | 42,000 – 52,000 |
| Management Consulting | 40,000 – 50,000 |
| E-commerce & Retail | 40,000 – 50,000 |
| Healthcare & Pharmaceuticals | 38,000 – 48,000 |
You’ll notice that the entry level salaries of business analysts are on the higher side and as you gain more experience, the pay range may get higher.
This article should help answer most, if not all, of your questions around how to become a business analyst. Now, it’s time to get started on your journey. Remember that focus and determination are key. All the best!
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FAQs on How to Become a Business Analyst
Q1. What qualification is required for a business analyst?
Ans: To become a business analyst, a bachelor’s degree in business, IT, or a similar field is generally required.
Q2. What is the first step to become a business analyst?
Ans: As with most professions, the first step to becoming a business analyst is to build a strong foundational knowledge base. You can do this by pursuing a degree and reading regularly about the latest trends.
Q3. What are the primary responsibilities of a Business Analyst?
Ans: The primary responsibilities of a Business Analyst include:
- Identifying gaps in processes and synergies within an organisation.
- Recommending solutions such as new processes or technologies.
Q4. Is coding necessary to become a business analyst?
Ans: No, coding is not necessary to become a business analyst. However, some basic understanding of coding can be helpful.
Q5. What is the average salary of a business analyst?
Ans: The average salary of a business analyst in India varies depending on the company and various other factors. But a fresher business analyst’s average salary generally falls between ₹600,000 to ₹700,000 per annum.
