Business Analyst
- Uses data and analysis to find problems and recommend improvements across an organization.
- Collaborates with departments such as finance, operations, and IT to implement solutions.
- May develop business plans, budgets and forecasts, monitor performance, and support implementation.
Definition
Section titled “Definition”A business analyst is a professional who uses data and analysis to identify and solve problems within an organization. Their primary role is to understand the needs and requirements of the business and to provide solutions that will improve efficiency and profitability.
Explanation
Section titled “Explanation”Business analysts review and interpret data to identify trends, patterns, and areas for improvement. They translate business needs into actionable recommendations and work with stakeholders to implement changes. Typical activities include analyzing operational processes, proposing strategic adjustments (for example to pricing, sales strategy, or marketing), optimizing supply chains, and collaborating with departments such as finance, operations, and IT to deliver solutions. Beyond analysis and recommendations, business analysts may develop and implement business plans, create budgets and forecasts, monitor business performance, provide training and support, and help develop policies and procedures. Common skills and qualifications include strong analytical and problem-solving abilities, effective communication and collaboration, and knowledge of business operations; many business analysts have backgrounds in finance, business administration, or related fields and may hold certifications in business analysis.
Examples
Section titled “Examples”Analyzing sales data
Section titled “Analyzing sales data”A business analyst tasked with analyzing the sales data for a company’s products would review the data to identify trends, patterns, and areas for improvement. They may recommend changes to the sales strategy, pricing, or marketing efforts in order to increase sales and revenue.
Streamlining a manufacturing supply chain
Section titled “Streamlining a manufacturing supply chain”A business analyst working on a project to streamline the supply chain for a manufacturing company would review current processes and systems, identify areas for improvement, and develop a plan to optimize the supply chain. This could include implementing new technology, changing suppliers, or revising the production schedule.
Improving customer service (cross-department collaboration)
Section titled “Improving customer service (cross-department collaboration)”Business analysts often work closely with other departments within the organization, such as finance, operations, and IT. For example, a business analyst working on a project to improve customer service may collaborate with the IT department to develop a new customer relationship management system.
Use cases
Section titled “Use cases”- Developing and implementing business plans
- Creating budgets and forecasts
- Monitoring business performance
- Providing training and support for employees
- Developing policies and procedures
Related terms
Section titled “Related terms”- Finance
- Operations
- IT (Information Technology)
- Customer relationship management (CRM)