Have you ever wondered what exactly a Business Analyst does?
Whether this is the first time you’ve even heard of the career or are unsure as to what role they play, we have all the information you need.
Let’s jump in and discover what the role entails and why you should pursue it!
Meet William
What is a Business Analyst?
Steps to Becoming a Business Analyst
未来的前景
Best Thing & Worst Thing
Advice for Aspiring Business Analysts
Meet William
William is aSenior Business Analyst at Aurelia Metals.
“I work for an ASX listed company called Aurelia Metals… the ASX code is AMI. We are essentiallya gold/base metal mining company and we own three gold/metal mines in NSW.”
您是如何最终担任这个角色的？
William went to the昆士兰州大学他在哪里做dual undergraduate degree in Mechanical Engineering and Business Economics。His background was originally as an engineer, working in the mining industry for 5 years.
He then pursued aMaster’s degree in Finance and Accounting at Deakin University，这使他能够在多伦多担任公司财务分析师几年！
他的行业经验的结合以及他在加拿大获得的曝光allowed him to get scouted and come back to Australia to work as an investment banking associate within the mining investment banking team at Nomura in Sydney.This career shift allowed him to go up the ranks and attain a Senior Business Analyst role at Aurelia Metals in Brisbane.
“It’s a different route versus just getting a Commerce degree and going straight into a particular industry you might not know much about,” William said.
What made you want to work within this field?
When asked about why he decided to pursue this particular career, William gave us some interestinginsights into his mentality and decision to shift gears.
“最初,做工程,我想,是的, I’ll go down that road.’我终于进入了这个行业，并想：“啊，这不是我的杯茶。”I’m more interested in the financial side of the industry that I’ve been working in.
“That’s what prompted me to do my Masters in Finance and Accountingbecause when I went with my engineering degree to try and get into finance, they were like, “We understand you have an engineering degree but we need something more than just you saying that you like finance.”Employers want to see that you’re committed to a particular field or into the analysis side of things, like completing your CFA，”威廉解释说。
他指出,这些事情都是高度ed when employers look at your CV, as it shows that you’re willing to go beyond a Bachelor’s degree and acquire further qualifications.It’s essential to stand out from the rest of the crowd — so think of what you can do to distinguish yourself!
What is a Business Analyst?
A Business Analyst is basicallythe middle man between IT and the business itself.Their primary job is toanalyse data to assess the businesses processes and systemsand, from there,deliver recommendations and reports to the executivesof the business and stakeholders based on their analysis.
Roles and Responsibilities
如果企业发现自己处于需要解决当前或预测问题的位置，那么这是企业分析师的角色和责任，有助于促进解决方案。为了给您更详细的图片，业务分析师将编写要求，设计线框并创建数据模型，以便以清晰有效的方式解释数据及其潜在解决方案。
但是，不要只是认为业务分析师每天仅限于这项任务。在任何一天，你可能参与项目管理，项目开发，质量测试，甚至从利益相关者中获取信息。
You are the conduit of information; the go-to person.As a business analyst, your main priority is to paint a clear picture and help executives envision the future of their business.You shape and mould businesses into their full potential!
典型的一天对您来说是什么样的？您要做什么类型的任务，您会期望什么？
“A key focus for me involvetasks that are centred around business strategy, company evaluations and identifying other mines that we could potentially acquire。The primary goal is to constantly understand where we sit as a business and also evaluate the financial aspects of the business overall.”
Which industries can this career be found in?
The really unique aspect of this career is that itallows you to work in a broad range of industries!As a business analyst, you could find yourself working infinance, banking, insurance, telecoms, utilities, software services, governmentand, like William,mining.
If you look around, businesses are everywhere.Pursuing a career as a business analyst means endless opportunities.First, you just have to figure out which industry, product or service it is that you are passionate about!
What jobs do people sometimes confuse this with?
人们经常将业务分析师与系统分析师混淆。However, the latter requiresa deeper level of technical skills.他们的工作是与业务分析师合作，以有效地执行技术解决方案，例如编码和审查脚本。
Now, a lot of people also get confused with业务分析师和财务分析师之间的区别。我要求威廉给我一个基本的细分：“Financial Analysts commonly work in a financial institution, whilst business analysts work in a business sector.”
Characteristics and Qualities
According to JobOutlook, the top 5 knowledge, skills, abilities and activities relevant to the job are as follows.
| Characteristics | 需要类型 |
|---|---|
| Knowledge | Education and training, customer and personal service, administration and management, personnel and human resources, sales and marketing |
| Skills | Active listening, critical thinking, judgment and decision-making, reading comprehension, operations analysis |
| 能力 | Oral expression, oral comprehension, deductive reasoning, written comprehension, written expression |
| Activities | Giving expert advice, building good relationships, planning and prioritising work, communicating with a team, making decisions and solving problems |
When asked about what skills you develop throughout this career, William focused on技术技能，批判性思维和自信心。
“A key thing isbeing fairly proficient in Excel, particularly in financial modelling.当我们进入一个技术时期，有很多系统可以自动记录其Excel流程，因此重要的是gain an understanding of other technology platforms that can help internal reporting- that’s the technology side.
“Other skills areproblem solving, critical thinking and looking outside the box.Having a bit ofconfidenceas well is important because people internally, particularly the senior managers, dorely on your ability to take a lot of data analysis and put that in an easy to read format,” he said.
威廉补充说：“在公司评估方面，我进行了许多分析，管理人员不需要看到内部运作，他们所关心的只是输出。It’s really about storytelling with data.So obviously, data analytics is the main skill that will be helpful for people going forward.”
Steps to Becoming a Business Analyst
An undergraduate Bachelor’s degree is usually requiredto work as a Business Analyst. If you want to give yourself that extra leg up in your career,industry certification is also desirable!
To become a business analyst, you can follow this 3-step guide!
步骤＃1：获得学位
Apply and enrol inan undergraduate degree in either business, commerce, business administration, information technology or a related field.These are usually 3-year degrees.
步骤＃2：让自己脱颖而出
So that you can stand out from all the other aspiring business analysts, open yourself up to研究生研究，实习或交流机会。These experiences will open more doors and offer you industry connections. Even better, join the Australian chapter of theInternational Institute of Business Analysts (IIBA).
Step #3: Have a passion for it
Be passionate about what you do and forthright with your passions.You will not get anywhere if your mindset is not in the right place.
If you work hard whilst having your heart in it, you are bound to succeed.Do remember that by acquiring the desired skills, you will be able to propel yourself further.
Check out these undergraduate degrees which can be beneficial towards a career as a Business Analyst:
Although we have listed this step-by-step guide,you don’t need to necessarily follow it like a rule book— William completed an undergraduate Mechanical Engineering degree before making the decision to shift gears and do a Masters in Accounting and International Finance four years later.This change allowed him to fly off and work as an analyst in Toronto, Canada!
You canchoose an unrelated degree in your undergrad years and transfer to a business analytics coursefurther down the track.
How long does it take to become a Business Analyst?
If you decide to pursue a 3-year undergraduate degree relevant to the career field, such as commerce, business or information technology,many graduates find themselves scoring entry-level roles in related disciplines to develop their skills and knowledge。Their applied knowledge and experience in their junior role, will allow them toadvance into more senior positions.
To give you that extra leg up, you shouldfamiliarise yourself with theInternational Institute of Business Analysis Guide, which will teach you the concepts and techniques applied to business analysis. Also, remember to join the Australian chapter of the International Institute of Business Analysis (IIBA).
Industry Knowledge
William explained to us that when it comes to industry knowledge,understanding softwares and emerging technologies is vital.
“Aside fromExcel, you have other internal business reporting systems likeTridant和Pronto—they serve as a database for actual financial and production data.You tend to use those systems as a way of moving forward and seeing what things may look like in the future.”
What will this career look like in the future?
How in-demand is this career?
Business analysts arein high demandand a career in this field is definitely a rewarding move. We all know that businesses don’t grow themselves;it’s the minds behind it that propel it forward!
The main reason why business analysts are in such high demand is thatthey can work in almost every industry: financial services, health, retail, banks, insuranceand the list continues. These businesses would not grow if it weren’t for the analytical brains behind business operations.
According to theBA Guide, the business analyst job market isexpected to grow at a rate of 19% over the next 10 years.
Are there opportunities to grow or specialise?
William told us that了解业务的数量将是您需要的核心技能the rank to CFO/CEO level.
“我发现我很幸运，我确实了解了所有这些。If you’re a numbers guy and you understand the financials, how it all works and all the analysis,it’s going to put you well placed to move up the ranks to more senior positions.
“What you need to compliment that with is the social side. You need to know how to work with clients, stakeholders and be able to present well.Even though we are so consumed by the tech side and the computer side, I think it’s important to be personable,” William said.
He added, “The older guys I work with are much more personable because they didn’t grow up with smartphones and computers.They’re still old school when it comes to trusting people and engaging with people.”
Basically, it’s important to be able to communicate face-to-face, rather than just through back and forth emails.While the analysis side is important, the personal aspect should be prioritised too!
Salary
| 年工资 | 未来的增长 | 技能水平等级 |
|---|---|---|
| $107,000+ | Very strong over the next 5 years | 技巧非常高 |
According to JobOutlook, Business Analysts have a‘very high skill’ level ratingand a‘very strong’ prediction for future growth。平均每周工资是$2,067.
Influential Trends
There are 5 influential trends in the Business Analytics industry:
| Influential Trends | 描述 |
|---|---|
| 新时代技术 | In this job, you need to know, understand and be well-versed with the latest innovations in process and analytics. Be open to change! |
| Incorporating data analytics | As a business analyst, you will need to adapt your expertise to data tools that improve business solutions, such as Tableau, which is a data analytics and visualisation software that shows you insights. |
| “敏捷”方式 | 敏捷是一种项目管理，侧重于灵活性，评估，增量和协作。这种领导风格有助于业务分析师促进变革，沟通和参与。 |
| Digital change | Cloud computing has emerged as a sound solution for organisational agility. Business analysts can decide which department and operation it should be applied to, as a BA’s primary goal is to restructure business processes by aligning them with new technologies. |
| User design | 业务分析师还必须衡量业务对与客户，用户或客户的交往的影响。用户体验（UX）增加了分析师对企业数字存在和客户满意度的理解。 |
The Future of this Industry
The future of the industry is bright as there will always be a need for business analysts! This multifaceted career isboth critical and secure, and the role is present at every level of an organisation.
Depending on the project or business,a BA could play the role of a facilitator, a communicator and a change-makerall at once.
威廉说：“Technology is going to become more and more prevalent and a part of our organisation.From a business analyst perspective, you’re going to have a lot more real-time data and tracking that you are going to have to analyse, dissect and make decisions on.”
“We need to understand that this technology wave is coming andthere will be different ways to analyse data, not just from financial reports but from platforms.Technology is going to continue to be part of my industry and it’s also going to become part of our skillset,” he added.
Best Thing & Worst Thing
What do you enjoy most about this job?
William told us that the best part of his job wasthe people.
“I think that the people you work with is a key part.You feel like a team and you’ve got a well-supporting environment to flourish and be challenged,” he said.
“挑战自己并尝试尽快采用导师是一件关键的事情，无论是在组织内还是外部。得到别人的观点总是很好的。”威廉补充说。
What do you feel is the worst part of this job?
When it came to the worst part of the job, William gave us an insight into角色的潜在压力和自信的需求。
“I think the worst thing is ensuring that you have self-confidence.在向高级管理层介绍分析时，您需要信心。他们依靠您以及您做出的分析来做出巨大的业务决策。”
“Sometimes you can question yourself and feel a lot of self-doubt.It can be like, ‘We’ve got to buy this gold mine for 200 million dollars based on the analysis I’ve done.’If something goes wrong, everyone is going to look to you.肩上有很多事情要做，但是如果您已经完成了工作并对自己的工作充满热情，那么您应该对此充满信心。”威廉说。
Advice for Aspiring Business Analysts
What do you wish you had known before you started working in this career?
“不要觉得你需要所有的答案hen you leave school and which career that you want to go into.I think young people can be too bogged down in having to make these life-changing decisions as soon as they leave school and jump into university,” William said.
He also pointed out that很容易开关和接额外的课程electives, so you can pursue whatever you’re interested in should your passions change.
“For me, when I finished engineering I thought, ‘That’s me. That’s what I have to do for the rest of my life.’ As it turns out,while working at the mines I decided to just do my Masters in Finance and Accounting。Deakin offered an online correspondence platform to do that.
“Now I’m working with the client side of things in Brisbane.Don’t feel like you have to make the life-changing decisions early on. Just be open to the idea that your passions can change over time,” he added.
What is the workplace culture like?
“It’sa very open and fluid work dynamic we have in our office.显然是一家采矿公司，这与初创企业或其他组织有所不同。
“You have people from all walks of life, people who grew up outback in rural areas and people from different countries and regions around the world.有时非常开放和有趣。真的就像另一个家庭。”威廉喊道。
Job Flexibility
“In my role, it’s pretty much an8.30-5.30 routine for me.But it’s alsovery easy for me to take a laptop home and do some extra bits and pieces at home.
“My situation is that我也有三个孩子，所以这是我公司非常适合我的生活的另一个动态。So basically I go into the office, work 8.30 to 5.30, go home, do the family stuff and then if I need to do more work I can just jump on my laptop. So it’s really flexible,” William shared.
Why should people consider taking on this career?
“In being a business analyst,the skill sets that come with it are not specific to a particular industry as such.You are still utilising the same software and medium for which you present all your findings, so really it allows you to be fairly flexible and be able to go into any industry.
“举个例子，我做了工程学，然后是投资银行业务，但是我正在学习的技能我可以申请任何行业。Whether it’s a software company or a start-up, you still need to be able to project future cash flows, do a DCF and perform evaluations across all industries,” William said.
If a Business Analyst career sounds like the job for you, apply for an undergraduate coursehereand begin your journey!
Thomasin McCuaig是Smart Art的内容作家，也是悉尼大学的beplay体育官方英语和戏剧和表演研究专业的艺术毕业生。托马辛（Thomasin）是一位热情的作家，歌手和戏剧老师，她的作品与孩子们一起出版，标志性的豪华旅行和风格和后代杂志。Thomasin还为她的学生撰写了Junior戏剧，并打算有一天出版一部小说。During the COVID isolation period, Thomasin put her passion into practise and launched her own writing and editing business, ‘Re:Write Editing.’ In her spare time you will find her either napping, talking to her cats or looking up real estate for absolutely no reason at all. Fun fact: Thomasin appeared on Japanese morning breakfast show ‘ZIP!’ as a travel reporter, where she presented a six day exposé of Sydney!
