“We can’t solve problems by using the same kind of thinking we used when we created them.”
Albert Einstein
Business analyst courses are a bridge between the business world, IT and clients. The aim of the Business Analysis is to create a transparent knowledge base about the company and, as a result, minimize the risk of failure in any area of the company and to fix outdated processes and adopt new technology. Also known as Business Intelligence consists of collecting and interpreting data concerning the company’s strategy, the structure of activities, information flow and resources. This process is made by using intelligent information systems. With the help of these systems, entrepreneurs can collect and process large sets of data, which are then presented in the form of accessible indicators, tables or charts. The analysis of statistical data and all kinds of indicators, combined with the analysis of market trends, gives a clear picture of the situation and business, has a positive impact on planning and budgeting, and sheds light on possible opportunities and past mistakes and risks.
The profession of business analyst BA also known as Business Consultant is very creative and could actually be compared to the work of an architect. You need to have a strong technological basis in order to be able to analyse issues, design solutions, visualize them and finally explain them to all parties involved. In fact, a business analyst is a manufacturer and a designer.
What are the qualities of a good business analyst?
- The ability to think analytically
- The ability to negotiate and persuade
- Creativity, visual thinking and spatial imagination
- Fast learning and acting under time pressure
- Critical thinking and ability to assess the situation
- Being detail-oriented and capable of delivering a high level of accuracy
- Oral and written communication skills
- Problem-solving skills
- Interpersonal and consultative skills
- Facilitation skills
- Decision-making skills
How do you become a business analyst in Australia?
- Complete MBA or Bachelor degree and then Master degree in business, business administration, business analytics, data science, statistics, computer science, information management, finance or accounting, business administration, information technology or other related fields. Finance or economics.
- Join the Australian chapter of the International Institute of Business Analysis (IIBA). It gives you many important benefits to help support your development and career growth as a business analyst such as access to a free copy of A Guide to the Business Analysis Body of Knowledge® (BABOK®Guide) v3, free access to the Online Library of more than 300 books, discounted fees for IIBA certifications like ECBA, CCBA, CBAP and many more.
- Obtain an advanced business analyst certifications
- Gain internship experience and learn for your co-workers.
- Network with other business analysts and find out what they do day-to-day.
- Learn the basics of Excel, SQL, database management software such as CVF, SQLDeveloper or pgAdmin or some of Amazon database services.
- Get the knowledge about an interactive data visualization software UML (Unified Modelling Language), Power BI or Tableau.
- Study programming languages like Python or R for advanced processing of large data sets and creating visualization/dashboards.
- Learn tools for marketing analyses like Google Analytics or Google Data Studio,
- Attend IIBA chapter meetings.
- Get a broad understanding of businesses and specific knowledge of business processes.
- Have a good understanding of technology and business.
- Acquire knowledge about business structure, stakeholder analysis requirements engineering, costs benefit analysis, processes modelling
Which certification is best for business analysts?
TOP 7 BUSINESS ANALYST CERTIFICATIONS
- IIBA Entry Certificate in Business Analysis (ECBA)
- IIBA Certification of Competency in Business Analysis (CCBA)
- IIBA Certified Business Analysis Professional (CBAP)
- IIBA Agile Analysis Certification (AAC)
- IQBBA Certified Foundation Level Business Analyst (CFLBA)
- IREB Certified Professional for Requirements Engineering (CPRE)
- PMI-Professional in Business Analysis (PBA) Certification
What is it like to be a business analyst?
Business Analysts have a great deal of discrepancy in terms of responsibilities. Being “analyst” in company A you can enter invoice data all day long, while in company B you will be designing databases. In company C you will collect requirements and in others you will manage projects or analyse market trends or company performance. The spread is very high.
As a Business Analyst you will be required to come up with a hypothesis before you start looking into the data. And once the hypothesis is in place you will try to prove or reject it using the data available.
Product analyst
- Makes business intelligence analyses
- Manages product data libraries
- Tests and analyses test results
- Gives recommendations to optimize and automate price list publication process
- Develops proposals for layout of price list tables
Business analyst
- Analyses data generated from CRM, Marketing Automation, chatboot, CRM BI
- Presents conclusions and recommendations concerning sales processes
- Analyses effectiveness and efficiency
- Optimizes budgets in cooperation with business controlling
- Prepares reports or updates them
- Analyses data presented in available market reports and forecasts trends.
- Analyses market trends in order to search for correlations between social changes and implemented product solutions or services offered by the company
Performance marketing analyst
- Monitors, analyzes and optimizes production processes, using Google Analytics, Google Ads, Facebook Ads and so on
- Leads daily problem-solving and troubleshooting initiatives to optimize quality and efficiency
- Supports the organization by maintaining established continuous improvement practices / techniques and recommends new techniques based on relevant leading practices
- Mentors other staff in the development of change and continuous improvement subject expertise, growing knowledge in practice areas, relationship development, and strategy for resolution of complex issues
- Plans, measures and adjusts the change process strategy to meet project/program deliverables
- Identifies, suggests and implements best practices to facilitate best solutions and methods that will optimize change delivery in all areas of the business
Financial analyst
- Monitors costs and carries out all analyses required to identify risks and opportunities and proposes appropriate actions
- Is actively involved in operational planning (including budgets and forecasts),
- Supports decision-making processes by giving ad-hoc analyses
- Ensures correctness of processing purchase orders, invoices, and month-end closing procedures
- Develops and documents business processes to maintain and strengthen internal controls
International business analytics studies and degrees in Australia
The best universities to study Business Analytics in Australia are University of Melbourne and La Trobe University.
| National Ranking | Graduate Employability Ranking | Name of institution | Name of institution |
| 2 | 2 | University of Melbourne | Master of Business Analytics (1 year) |
| 5 | Monash University | Master of Business Analytics (1,5-2year) | |
| 7 | University of Western Australia | Master of Business Analytics (1,5-2 year) | |
| 9 | 6 | University of Technology Sydney | Master of Business Analytics (1,5 year) |
| 13 | 10 | Macquirie University | Master of Business Analytics (1 / 1,5 / 2 year) |
| 18 | Deakin University | Master of Business Analytics (1,5-2 year) | |
| 22 | La Trobe University | Master of Business Analytics (1,5-2 year) | |
| 23 | Bond University | Master of Business Data Analytics (1,5 year) | |
| 25 | Western Sydney University | Master of Business Analytics (2 years) |
Is a Business Analyst a good career choice in Australia?
Being a business analyst can be difficult and is undoubtedly demanding, but your efforts will be rewarded by making a real impact on the company’s success. There is a great career opportunity for business analysts. This profession is relatively young and very interdisciplinary, as the scope of analyses is not limited to the financial sphere, but also includes the sales, logistics and many others. The group of professions is in deficit. The support of a competent analyst is an opportunity for the company to speed up the project considerably and correctly, save funds and introduce a clear style of communication, which makes work more efficient and easier. Therefore, it should not be difficult to find a job in the coming years. The job is offered by banks, consulting companies, analysis offices, large manufacturing or real estate companies. An analyst can deal with projects in many entities, e.g. organizations, companies, corporations, even government institutions.
According to Gartner, the Business Analytics market in Australia has grown by 13.4% since 2017, which is round-about A$1,468.20 million.
What are the most popular job paths in Business Analytics?
The broad spectrum of employment opportunities, in virtually all sectors and areas of the economy, makes a wide range of possibilities open to the analyst and it is often the case that he or she finds an area where he or she manages to combine work with interests. The employee may be able to analyse sales trends, market and political trends, sports analyses or even modern data-based journalism or so-called targeting.
Management Analyst/Consultant
Your job will be to ensure that the business operations of the organization are carried out efficiently. This means you will work closely with members from various departments within the organization, from operations to sales, all the way to payroll and accounting, to find out which business processes need to be improved.
The national average salary for a Management Consulting Analyst is $65,499 in Australia.
Data Analyst/Scientist
Your job will involve collecting data and using it for the benefit of the company you work for. To make the data useful, you will have to analyse it and present it in a form that is usable to the organization, such as tables, charts and reports. This means strong communication skills are a must if the data must be presented to management so that they can make informed decisions.
The national average salary for a Data Analyst is $82,887 in Australia.
Business Intelligence Analyst
In order to give the organization you work for an advantage in the market, your job as a business intelligence analyst is to gather information, and analyse it. Through the process of analysing the data, you will be able to give management a picture of where the business currently stands in the market, which will then influence their decision-making abilities to make their operations more profitable.
The national average salary for a Business Intelligence Analyst is $90,000 in Australia.
Program and Marketing Managers
Programming and marketing managers are responsible for coming up with and implementing a marketing strategy. This job usually involves managing all marketing, sales and marketing staff, on top of ensuring the success of multiple marketing campaigns. As such, strong leadership and communications skills are a must if you want to do this job effectively.
The national average salary for a Marketing Manager is $100,000 in Australia.
Big Data Analytics Specialist
According to PwC, there will be 2.7 million job postings for specialists in data analytics and science in 2020, making anyone pursuing this business analytics career path in high demand. As a big data analytic specialist, your job will be to use modern technology to solve the data challenges that an organization faces in the digital age. The solutions you come up with should result in the improvement of efficiency, business performance, and decision-making.
The national average salary for a Big Data Analytics Specialist is $92,119 in Australia.
Operations Research Analyst
Your job is to analyse an organization’s operations data and present it in a nuanced and relevant way that will give management insight on how to improve business operations. This is done by using information technology to perform the analysis and coming up with a workable solution to make the processes more efficient. After that, your job also requires you to present this information to the relevant stakeholders in the form of a comprehensive report.
The national average salary for a Operations Research Analyst is $79,490 in Australia.
Market Research Analyst
Working as a market research analyst means collecting and analysing a large amount of marketing data for the company you work for. The analysis of the data should help the organization figure out potential customers, how much these potential customers should spend and how much they are willing to spend in regard to the product the company is selling on the market. It is believed that knowing these three things will lead to increased revenue over time.
The national average salary for a Market Research Analyst is $54,877 in Australia.