As businesses continue to navigate the ever-changing market, it’s crucial for them to know what their customers need and how to provide solutions to their problems. Business analysts play an important role in this task by ensuring that the company’s resources are being utilized effectively and that all business operations run smoothly. Successful business analysts possess an array of skills that enable them to shine in their jobs. Here are the top skills that can set business analysts apart and help them succeed in their careers.
Analytical Skills
Real-Life Example:
For instance, suppose a business analyst is tasked with finding ways to reduce the company’s technology costs. In this case, they must utilize analytical thinking by looking at technology use patterns and identifying ways to consolidate or eliminate systems.
How to Develop Analytical Skills:
To build analytical thinking, business analysts should research and stay up to date with industry trends and best practices. They should also take online courses on data analysis and visualization, SQL, and programming languages like Python.
Key Considerations:
Business analysts need to have a holistic view of the company they work in, with analytical thinking abilities that can deliver innovative solutions. Analytical thinking also assists stakeholders and business leaders in decision-making, and it contributes to the company’s overall success.
Communication and Collaboration Skills
Real-Life Example:
Imagine that an organization wants to implement a new software application to manage their inventory. The business analyst must be able to communicate with the development team, the supply chain manager, and other stakeholders regarding what features the new application should include.
How to Develop Communication and Collaboration Skills:
Business analysts can enhance their communication skills by taking courses in technical writing, public speaking, and even body language. They can also participate in workshops that train professionals in better communication.
Key Considerations:
Being able to communicate effectively is essential for ensuring that teams are aligned and that business processes are conducted successfully. Business analysts must learn to collaborate with team members to facilitate communication and ensure that the requirements are met satisfactorily.
Leadership and Negotiation Skills
Real-Life Example:
Suppose a bank is planning to redesign their ATM interface. The business analyst must negotiate with multiple stakeholders, from the bank’s marketing team to the software development team, to ensure the ATM’s interactive interface meets everyone’s needs and preferences.
How to Develop Leadership and Negotiation Skills:
Business analysts can develop leadership and negotiation skills by taking leadership training programs, including role-playing sessions designed to help negotiate effectively, and learning strategic planning techniques.
Key Considerations:
Leadership and negotiation skills enable business analysts to manage a specific project, facilitate communication between teams, and ultimately ensure that ideas are turned into reality. These skills are essential in advancing a business analyst’s career.
Business and Industry Knowledge
Real-Life Example:
Suppose a hospital management team is attempting to make its patients more comfortable. The business analyst must identify the best tools, systems, or materials for each environment with an awareness of healthcare regulatory requirements.
How to Develop Business and Industry Knowledge:
To keep a competitive edge, business analysts should read and research extensively about the business industry and participate in networking opportunities such as conferences relevant to their industry.
Key Considerations:
A strong understanding of the business landscape and its challenges is critical. By developing sound business acumen, business analysts can spot market gaps and offer innovative solutions that improve their employer’s financial performance.
Creativity and Innovation Skills
Real-Life Example:
Imagine a company that produces electric vehicles as an eco-friendly solution for transportation. A business analyst working for the organization could help the team identify the ideal locations for charging stores using data regarding electric vehicle usage in different locations.
How to Develop Creativity and Innovation Skills:
Business analysts can develop their creativity and innovation skills by watching TED talks or taking courses in creativity and brainstorming. They can also network with other professionals in their field to learn more about changes happening in the business industry.
Key Considerations:
By demonstrating creative thinking and innovative problem solving, a business analyst can make their employer stand out in the market. Similarly, when an analyst combines his/her creativity with analytical thinking and communication, he/she can quickly transform valuable insights into actionable recommendations that can transform the business.
Technical Writing and Documentation Skills
Real-Life Example:
A business analyst working on a project can fill reports and other documentation throughout the project facets, ensuring that every person involved in the project understands the status of the project.
How to Develop Technical Writing and Documentation Skills:
Business analysts can participate in workshops or training sessions focusing on technical writing, editing, proofreading, and creating readable graphics.
Key Considerations:
A business analyst’s ability to document their recommendations and conclusions is critical. By developing technical writing and documentation skills, business analysts can communicate critical findings, recommendations, or other project details that might be helpful in implementing solutions.
Project Management and Time Management Skills
Real-Life Example:
Imagine a firm that wants to expand its reach by opening up new stores in various locations. The business analyst must coordinate with the organization’s management team, hire new workforce, liaise with regulatory agencies, and manage project budgets and timelines.
How to Develop Project Management and Time Management Skills:
Business analysts should participate in workshops or courses covering critical project management skills such as project scheduling, cost management, and change management.
Key Considerations:
Excellent project and time management skills are essential for any business analyst. By combining these skills with their analytical thinking and communication abilities, business analysts can make complex projects manageable and help the company in achieving its organizational goals.
Data Visualization and Interpretation Skills
Real-Life Example:
An online retailer can use a business analyst with visualization skills to analyze customer purchase patterns over the past year and develop recommendations for customer retention by providing insights into product placement within the platform.
How to Develop Data Visualization and Interpretation Skills:
Business analysts can improve their data visualization tools and interpretation skills by taking courses in Tableau, Power BI, Excel, or other data science tools.
Key Considerations:
Data visualization and interpretation skills are becoming increasingly essential. By presenting relevant data in a visually appealing manner and interpreting insights, business analysts can provide valuable contributions to their employer’s decision-making process.
Critical Thinking Skills
Real-Life Example:
Assume that an e-commerce retailer is looking to increase sales by expanding into developing countries. The business analyst must evaluate differing e-commerce landscapes, online market preferences and practices, and regulatory conditions to develop specific insights and recommendations.
How to Develop Critical Thinking Skills:
Business analysts can improve their critical thinking skills by taking a critical thinking course, solving puzzles or playing games that require logical thinking skills, attending workshops, or taking up courses on strategic thinking.
Key Considerations:
Critical thinking skills are of high value to companies who want to remain competitive in tomorrow’s market. By being able to examine and analyze complex problems, business analysts can recommend innovative solutions that can impact organizational growth positively.
