How to Prepare for a Career in Business Analytics

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Rankings, study advice

Type

Rankings, study advice


We live in a world filled to the brim with digital data. To put that into perspective, more data has been created in the past three years than in the entire previous history of the human race. And, if you know how to leverage business data to your advantage, you stand to race ahead of the pack when it comes to insight, development and innovation.

Today, an increasing number of digital jobs require a keen understanding of data and analytics, and the business analyst is no exception. If you're looking for a career in business analytics, we're going to give you a few tips on how to prepare. But first, let's consider this...

 

What is business analytics?

In summary, Business analytics (BA) is the practice of the continual methodical exploration of an organisation's data, with a strong emphasis on statistical analysis. Business analytics is used by companies that are dedicated to data-driven decision-making - and in today's digital landscape - data-driven decision-making is essential.

Particular branches of business analytics include...

  • Descriptive analytics: tracking key performance indicators (KPIs) to understand the current state of a business.
  • Predictive analytics: analysing trend data to assess the likelihood of future outcomes.
  • Prescriptive analytics: using past performance data to generate recommendations about how to handle similar situations in the future.

How to prepare for a career in business analytics

According to a study by the McKinsey Global Institute, by 2018, the United States alone could face a shortage of 140,000 to 190,000 people with deep analytical skills as well as 1.5 million managers and analysts with the know-how to use the analysis of big data to make effective decisions. So, if you’re thinking about a career in business analytics, now’s the time to strike. Here’s how…

 

Build your knowledge of business analytics

When going into any profession, especially a digital one, market knowledge holds the key to success. Before you start hunting for jobs and opportunities, find out all you can about business analytics: the history, the current trends, the big players, the corporate innovators and the tools you'll need to master to do the job. Here are some sources that will help:

 

Identify your current skillset

Once you've started your study into BA, you will need to sit down and take a deeper look at your current skill set and professional achievements. With your newfound knowledge, look at which skills are transferable to a business analyst role, which skills need to be fortified, and which skills will need to be acquired.

Conjure up a plan of action that includes taking on personal projects and asking for feedback on your efforts to gain tangible, real-life feedback and experience. Also, strengthen your weaker skills and close any knowledge gaps, sticking to a set timeline to ensure you don't lose momentum.

 

Get qualificated in business analytics

When it comes to preparing for a successful career in business analytics, there's no better way to prove your knowledge and validate your experience than with a professional qualification.

Not only will a professional qualification or certification bestow with the skills and confidence you need to embark on a successful career in business analytics, but it will increase your chances of landing a fruitful BA role ten-fold. Take the time to find a BA course that suits you, your requirements and your schedule and set aside the time to ensure you get the most from the course.

Being a business analyst is challenging but rewarding and if you're successful at it, it is also very well compensated. In the digital world, time is of the essence, so if you're thinking about becoming a BA, start your journey today. We wish you the best of luck.

For more analytical insight, read this piece on the rise of data scientists.


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