7 Crucial Skills Needed to Become a Business Analyst

Business analysts need to be bilingual: they need to speak the language of both business and computer to be successful. Speaking the right language is one thing, but communicating concisely and effectively is another. To perfectly combine the talent of negotiation, technology, and business know-how required, you should have the following 7 skills under your belt.

 Technology

Understanding common uses of technology in business is an absolute must. Extensive IT knowledge is a requirement, but you can’t just stop learning after school. The top business analysts stay up to date on industry developments, enlist in the best tableau training courses, and have the ability to use modern industry tools – not just understand them. Depending on the position you’re hired for, you may even need some computer coding experience.

Research

The best employees never stop learning in any industry, but your research and investigation skills should be on par with a detective to keep the most lucrative clients. Research is the first thing business analysts will do to solve a problem. With accurate information, you can provide detailed requirements for everyone in your projects. Your company is counting on you to find the best solution to their problems and keep their financial planning sheets as risk-free as possible.

Reviewing Statistics and Data

After conducting research, you’re probably left with a jumble of numbers. Gathering data and statistics on your company’s financial woes can help you better understand the risk involved in a project. With that past experience to look back on, it’s easier for you to get a grasp on why certain parts of a company aren’t performing as they should. If looking at data and statistics bogs you down, you likely won’t have the patience to create a competent financial plan.

Financial Planning

Now that you have the technical part down, you can start drafting financial plans. Putting all of your knowledge to good use is the name of the game here because you need to figure out exactly what everything in a business will cost. Your goal for this spreadsheet is to ensure that the company and the client profit. You need to have an eye for detail, or else you could cost both your client and business money, which won’t make you popular around the water cooler.

Recording and Documenting

Proper documentation of your plan of action will make it easier to repeat to your project heads, bosses, and clients. To record and document correctly, it’s better to use technology than leave it up to written notes or your head. When preparing your speech to the higher-ups, you should be able to recite your financial plan verbatim, but it’s okay to keep a few notes for you. If your documentation in your report is clear, others will understand your notes as well.

Problem Solving

As a business analyst, you’ll run into impossible solutions or problems that need to be solved outside of the box. Your job will keep you on your toes, and frequent changes will happen while you’re coming up with a business solution. Be flexible and adaptable to understand your company’s problems fully and to determine all possible solutions. Above all else, you need to react quickly to these new problems so the business can adjust or pivot at the drop of a hat.

Negotiation

Business analysts act as a middle man between multiple other co-workers, bosses, and clients. You’ll need to have excellent communication skills to speak with all members of your team, regardless if they’re management, developers, or IT. To do this, you need to stay professional while also learning how to persuade people to your conclusion. While they may not be willing to see your side at first, you can prove to them that your decision is the best course of action.

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