Profession business analyst

Business analysts research and understand the strategic position of businesses and companies in relation to their markets and their stakeholders. They analyse and present their views on how the company, from many perspectives, can improve its strategic position and internal corporate structure. They assess needs for change, communication methods, technology, IT tools, new standards and certifications.

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Personality Type

• Investigative / Enterprising

Knowledge

• Business analysis

  The research field which addresses the identification of business needs and problems and the determination of the solutions that would mitigate or prevent the smooth functioning of a business. Business analysis comprises IT solutions, market challenges, policy development and strategic matters.

• Market research

  The processes, techniques, and purposes comprised in the first step for developing marketing strategies such as the collection of information about customers and the definition of segments and targets.

• Scientific research methodology

  The theoretical methodology used in scientific research involving doing background research, constructing an hypothesis, testing it, analysing data and concluding the results.

• Risk management

  The process of identifying, assessing, and prioritising of all types of risks and where they could come from, such as natural causes, legal changes, or uncertainty in any given context, and the methods on dealing with risks effectively.

Skills

• Analyse internal factors of companies

  Research and understand various internal factors that influence the operation of companies such as its culture, strategic foundation, products, prices, and available resources.

• Analyse business plans

  Analyse the formal statements from businesses which outline their business goals and the strategies they set in place to meet them, in order to assess the feasibility of the plan and verify the business' ability to meet external requirements such as the repayment of a loan or return of investments.

• Analyse financial performance of a company

  Based on accounts, records, financial statements and external information of the market, analyse the performance of the company in financial matters in order to identify improvement actions that could increase profit.

• Build business relationships

  Establish a positive, long-term relationship between organisations and interested third parties such as suppliers, distributors, shareholders and other stakeholders in order to inform them of the organisation and its objectives.

• Analyse external factors of companies

  Perform research and analysis of the external factor pertaining to companies such as consumers, position in the market, competitors, and political situation.

• Advise on efficiency improvements

  Analyse information and details of processes and products in order to advise on possible efficiency improvements that could be implemented and would signify a better use of resources.

• Perform business analysis

  Evaluate the condition of a business on its own and in relation to the competitive business domain, performing research, placing data in context of the business' needs and determining areas of opportunity.

• Conduct quantitative research

  Execute a systematic empirical investigation of observable phenomena via statistical, mathematical or computational techniques.

• Liaise with managers

  Liaise with managers of other departments ensuring effective service and communication, i.e. sales, planning, purchasing, trading, distribution and technical.

• Align efforts towards business development

  Synchronise the efforts, plans, strategies, and actions carried out in departments of companies towards the growth of business and its turnover. Keep business development as the ultimate outcome of any effort of the company.

• Interpret financial statements

  Read, understand, and interpret the key lines and indicators in financial statements. Extract the most important information from financial statements depending on the needs and integrate this information in the development of the department's plans.

• Identify undetected organisational needs

  Use the collected input and information from interviewing stakeholders and analysing organisational documents in order to detect unseen needs and improvements that would support the development of the organisation. Identify the needs of the organisation in terms of staff, equipment, and improvement of operations.

• Make strategic business decisions

  Analyse business information and consult directors for decision making purposes in a varied array of aspects affecting the prospect, productivity and sustainable operation of a company. Consider the options and alternatives to a challenge and make sound rational decisions based on analysis and experience.

• Conduct qualitative research

  Gather relevant information by applying systematic methods, such as interviews, focus groups, text analysis, observations and case studies.

Optional knowledge and skills

Source: Sisyphus ODB