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Hello All, I am Tejaswini Nighojkar working as Business Analyst in IKF Pvt. Ltd.
The most common question that I have been asked, repetitively is – What does a Business Analyst (BA) do? Most of the people and colleagues are not aware of the role of a BA. So today I am going to share with you what interesting things a BA undergoes.
Let’s get started.
What is Business Analysis?
This is the process involving thorough research and analysis of a particular business to provide them a wide range of solutions, to optimize the business and attain more productivity in same or less time period. The person who handles these tasks effectively and provides the solutions to the client and to different companies is called as Business Analyst.
There are different areas in which BA’s works, the roles and responsibilities of a BA are vivid and challenging in current business environment. They are known by other names as well like system analysts, analysts, etc.
For example: An architect – he also has the same kind of roles and responsibilities as of a BA but the end product is different, the architect builds a place to live in, on the other hand a BA builds software for clients.
Now, let’s discuss BA’s role in important sectors;
1. BA in IT Sector
In IT segment, a BA plays very crucial role in different stages;
- Sales Phase: While the sales team is trying to crack the deal. BA’s Role is to understand requirement, elaborate the flow, approximate time/cost estimation to client, client Interaction, etc.
- Initial Phase – when the deal is cracked BA’s Role is to look after requirement gathering, system requirement specification with use cases, design wireframes, client interaction, etc.
- Development Phase – when the actual development of the software starts BA’s Role is to brief the team about client’s requirements, solve any ambiguities if there are any, maintain the data, record the changes and get acquainted on any recent development in the process.
- Testing Phase – Whilst software is developed BA’s Role is role is to undertake different level of testing, maintain test cases, get changes done, convey the client about the current status of the project, etc.
- Implementation Phase – once the software is tested and implemented successfully on the client’s side and the project goes LIVE!! In this phase, BA’s role is to prepare manual for the user from their perspective, arrange detailed and stepwise training to users of the system and the stakeholders, minor changes required, if any in software.
- Maintenance Phase – In this last phase when the project handover is transferred to the client and it is in use on regular basis BA’s role is to see if client is satisfied with the kind of work we did and if in case there are any alteration needs to be done then BA’s job is to personally look after the issues, mainly to look after the after sales service.
Skills Set required are as follows;
- High Patience level
- Communication Skills
- Narrator Skills
- Good Logic
- Good at Research
2. BA in the Financial Sector
In the financial domain, they are mostly known as business analyst or financial analyst. In financial analysis, the BA has to deal with a lot of financial data which determines the process of evaluating the business strategies. Ratios from this data are calculated and are compared with the previous data of the same company to measure the profit or loss that occurred. It can also be used to compare the data with competitors to understand and analyze their business strategies.
Skills set required are:
- Good in statistics which is not everybody’s cup of tea.
- Good in maths, analytics
- Good in comparing the data and determining the results from the same
- Good in providing solutions based on the results
I hope you are now very much clear about the role of a business analyst plays in corporate sector. All I can say is BA is one of the flourishing careers which I’m enjoying every bit of it at IKF.
Interested to work as a business analyst with IKF? Drop us a mail at: firstname.lastname@example.org