A business analyst is someone who scrutinizes the financial aspects of the business and determines if there are any changes that could be made to make the business more successful. A successful analyst needs a detailed mind that is able to analyze data and come to conclusions based on this data. Based on these conclusions the analyst makes recommendations and changes to improve the business.
A business analyst requires essentially two overarching goals. One is to be able to gather, analyze and interpret data in areas such as budgets, financial planning and forecasting, and cash flow projections. Secondly, the business analyst must be able to coordinate, organize and direct organizations of projects and processes related to the financial sector of business. They must develop and implement goals and procedures based off of the data that they analyze.
A business analyst will often require a bachelor's degree in accounting, finance or information technologies. They may also have a technical background as a programmer or computer engineer. A successful business analyst must have this background as they draw upon this as the means to be able to interpret the data. However, they must also be able to work with people within the business to design feasible and obtainable goals to improve the business. Thus, they must not only be able to identify the problem but also come up with the solution to fix it.
A business analyst is a job that requires attention to detail and an innovative mind to fix problems. It is mentally stimulating and very fulfilling when they lead the business into the green!
Business Analyst, Finance/Banking Tasks
- Gather, analyze and interpret data in areas such as budgets, financial planning and forecasting, cash flow projections, etc.
- Develop and implement goals and procedures related to management of financial aspects of the business.
- Coordinate, organize and direct organization of projects and processes related to the financial sector of the business.