The Pivotal Role Of Business Analysts
We live in a tech-driven world. Every business must rely on data, be it small or big, to make mission-critical decisions, and stay ahead of the competition. This requires two steps. One, collecting and organizing the data. Two, analyzing it so that it benefits the bottom line.
This is where a business systems analyst steps in. It is their job to utilize, manipulate, and apply data models to help make business decisions. Business analysts work in every department, from finance to IT to marketing. They identify trends, opportunities, and risks, calculate the ROI, and help businesses attain goals.
In short, a business analyst has a pivotal role. And that’s why picking a career offers excellent earning potential and a wealth of opportunities.
Is A Business Analyst The Right Role For You?
Yes, the career is lucrative in terms of money and growth. But is it the right path for you? To find out if a business analyst role suits you, ask yourself:
- Do you enjoy solving puzzles and riddles?
- Do you enjoy conducting in-depth research before making any decision?
- Do you depend on data to find solutions to real-world problems?
- Can you make future predictions based on historical data?
- Can you keep the big picture in sight while still being detailed-oriented?
- Do you have a naturally curious bent of mind?
- Do you want to discover the ‘why’ of things?
- Would you love learning tools that visualize, present, and analyze data?
- If the answer to most of these questions is an unequivocal yes, then a career in business analytics is meant for you.
How does one gain the skill required for the position of a business analyst? Through a master’s degree in business analytics. SO, if you’re thinking of changing careers or are already working in a data-driven field, earning the degree will fast track your growth.
It will provide you with the practical knowledge necessary to make decisions based on data. Moreover, it will increase your pay scale.
What Is The Salary Of A Business Analyst?
The field of business analysis covers many positions ranging from IT business analyst to quantitative analyst. Here are some of the top jobs you can get after earning your master’s degree in business analytics and their average salary.
- Quantitative Analyst
Average Salary: $83,477
- Analytics Consultant
Average Salary: $80,588
- Senior Business Analyst
Average Salary: $84,081
- Senior Marketing Analyst
Average Salary: $73,109
- Business Insight and Analytics Manager
Average Salary: $96,005
- Manager of Financial Planning and Analysis
Average Salary: $99,545
Typically, a candidate with a Master’s in Business Analytics earns approximately $72,000 per year. The job opportunities encompass a plethora of organizations, from start-ups to Fortune 500 companies. The gist? The career is an excellent choice if you like playing with data all day!
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