Business Analyst Roles and Responsibilities: JD, Skills, Salary

Discover how business analysts bridge the gap between business needs and technology solutions. From gathering requirements to data analysis and solution design, learn how they contribute to informed decision-making and process optimization.

The International Institute of Business Analysis (IIBA) refers to the business analyst as “an agent of change”. Businesses are turning to data to make key decisions, making the role of business analysts crucial for achieving organizational goals. In this blog, we will cover the details of the roles and responsibilities of business analysts. 

Content

• What is a Business Analyst?
• Job Description – Business Analyst
• Business Analyst Roles and Responsibilities: What Does a Business Analyst Do?
• Business Analyst Skills: How to Become a Business Analyst?
• How Much Do Business Analysts Make?
• Business Analyst Career Path
• Business Analyst Job Outlook

What is a Business Analyst?

A business analyst is responsible for identifying opportunities for improvement in a company’s existing operations and processes through data-driven decisions. They analyze organizational needs and convert them into actionable insights for decision-making. 

Business analysts work closely with various departments, including business units, IT teams, and management, to understand their goals, processes, and challenges and devise effective solutions.

Job Description – Business Analyst

The job description of a business analyst is to assess a business objectively, find the gaps, and offer fair suggestions on how to improve the overall efficiency of some specific areas of the business, focusing on increasing the profitability and stability of the business.

Business Analyst Roles and Responsibilities: What Does a Business Analyst Do?

Business analysts are responsible for identifying how a business operation works and helping identify, design, build, and implement improvements. Listed are some of the major job responsibilities of a business analyst –

Data Collection

• Gather business intelligence data from available industry reports, public information, field reports, or purchased sources.
• Identify current and potential customers using business intelligence tools.
• Analyze competitive market strategies by studying trends related to the product, customers or the market.
• Analyze the industry or geographic trends with implications for business strategy.

Process Analysis and Improvement

• Synthesize current business intelligence data to support recommendations for action.
• Thoroughly analyze current business capabilities and technology gaps and implement appropriate solutions.

Solution Design and Evaluation

• Create business intelligence tools or systems, including database design, spreadsheets, or related output.
• Prepare a detailed business analysis with the problems, their solutions and business opportunities.
• Disseminate information about applications, tools or metadata improvements.

Documentation and Requirements Management

• Perform and coordinate tests to ensure that intelligence is consistent with defined needs.
• Manage the timely flow of business intelligence information to users.
• Maintain/update business intelligence tools, databases, and/or dashboards.
• Provide technical support for creating existing reports, dashboards or other tools.

Stakeholder Management

• Facilitate effective communication and collaboration with stakeholders
• Manage expectations and ensure their needs and perspectives are considered during the analysis and decision-making process.

Collaboration and Communication

• Work closely with IT, Finance and Administrative teams to develop strategies that improve the overall efficiency of the business.
• Define business requirements and communicate them to stakeholders.

Testing and Quality Assurance

• Identify weaknesses in the company’s systems, processes or policies through the available data.
• Take charge of implementation projects and train staff in new technologies.
• Develop test plans and cases, and validate that the delivered solution meets the defined requirements and quality standards.

Business Analyst Skills: How to Become a Business Analyst? 

To become a business analyst, you must possess a Bachelor’s degree or preferably a Master’s in business administration, management, accounting, marketing, economics, statistics, computer or information science. Apart from this Business Analyst eligibility, you should also be able to use basic office tools such as Word, MS Excel, PowerPoint, and Tableau.

To succeed as a business analyst, you should –

• Learn about documentation, data analysis, problem-solving, visual modelling and elicitation.
• Learn Unified Modelling Languages, Global Business Analysis Phases, and Software Testing, among others.
• Master software methodologies like SDLC Model, Component Assembly Model, Prototype Model, JAD Model, RAD Model, Spiral Model, Scrum, etc. 
• Perform market research and competition analysis and prepare reports. 
• Develop project management and people management skills.

Besides, you can also pursue any professional business analyst course or business analyst certification, such as Business Data Analytics, Operations Management, Project Management, Database Analytics and Predictive Analytics. 

How Much Do Business Analysts Make?

The salaries of business analysts in India range from Rs. 2.5 – 15.2 Lakhs with an average annual salary of Rs. 6.5 Lakhs.

Average salaries of business analysts basis their experience –

• 0 – 1 Year: Rs. 2 – 5 LPA
• 1 – 3 Years: Rs. 5 – 6 LPA
• 3 – 5 Years: Rs. 6.4 – 7.1 LPA
• 5 – 8 Years: Rs. 7.7 – 8.2 LPA
• 9+ Years: Rs. 9 LPA+

The salary of a business analyst can also vary depending on the industry, location, and company. For example, financial business analysts would earn more than business analysts in other industries. 

Business analyst salaries also vary city-wise. In Cosmo cities like Bangalore, Gurgaon and Mumbai, professionals earn more than business analysts in smaller cities. 

Note that business analysts working for Fortune 5000 companies like Amazon, Google, Infosys, Accenture, etc., would make more than business analysts who work for small companies.

Business Analyst Career Path

Based on levels of experience, listed below are different categories of business analyst career paths: 

Entry-Level Business Analyst Roles 

This category includes individuals new to the field or with limited experience. Entry-level business analysts support data collection and analysis for a business and provide better solutions, technology integration, or systems improvements.

Popular job titles: Junior Business Analyst, Junior Analyst, etc. 

Mid-Level Business Analyst Roles

These professionals have several years of experience and a deeper understanding of business analysis methodologies. Mid-level business analysts often lead smaller projects, manage requirements throughout the project lifecycle, perform data analysis, and facilitate workshops and meetings. 

Popular job titles: Senior business analyst, Business architect, Senior analyst, Lead business analyst, etc.

Senior-Level Business Analyst Roles

Business analysts at senior levels have extensive experience and expertise in business analysis. They take on leadership roles, managing complex projects and leading teams of analysts.

Popular job titles: Director Of Business, Senior Business Architect, Enterprise Architect, Director of PMO, Senior Vice President – Projects, Chief Information Officer, Chief Operations Officer, Chief Technology Officer, etc.

Job Outlook for Business Analysts

The U.S. Bureau of Labor Statistics (BLS) suggests that the demand for business analysts will increase by 11% from 2019 to 2029, much faster than the average for all other occupations. It also speculates that the competition for business analyst jobs will be strong given the high earnings potential of this position. 

BIS suggests different growth expectations for different business analyst job profiles between 2020 and 2030:

• Operations research analysts – 25%
• Market research analysts – 22%
• Management analysts – 14%
• Financial analysts – 6%

Conclusion

Business analysts play a vital role in organizations by bridging business needs and technology solutions. By leveraging their technical and analytical skills, effective communication and problem-solving abilities, business analysts contribute to the success of projects and help drive business growth. We hope this blog on business analyst roles and responsibilities was helpful.