Business data are the most valuable assets that companies have in this modern world.
When handled, this set of unstructured and disorganized material can become high-quality information.
A Business Data Analyst is the one who turns this content into strategic information in business-oriented optimization work.
And let’s face it: decision-making in companies is a major responsibility.
Managers are usually responsible for this work, but they no longer do it alone. Data Business Analysts have earned an important role at this point.
Especially when it comes to technology, it is not easy to study processes, propose changes, and implement new features.
Therefore, having someone dedicated to this, based on data to drive decisions, is essential.
The role of a Business Data Analyst is increasingly becoming closer to the role of supporting managers.
This means that these professionals have a growing and decisive role in companies. They can take businesses to the next level of competitiveness as a result of their work.
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In this post, we will cover the role of a Business Data Analyst and its impact on companies through the following topics:
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What Is The Role Of A Business Data Analyst?
A Business Data Analyst is a data-oriented professional who works as an agent focused on ensuring technology and processes align within the business.
The role of the Business Data Analyst is to constantly review and analyze the company’s historical data, and based on this, optimize business operations. This professional identifies loopholes and focuses on making the system more efficient and less costly.
In general, the Business Data Analyst suggests improvement solutions that put the company in a competitive position in the market.
Therefore, it is not enough to be someone with experience in data.
It is essential that a Business Data Analyst also understands the processes, the market, and how to use data to put the company in the best position against its competitors.
The role of a Business Data Analyst is strategic. They do not only focus their work on detecting insights and analyzing hypotheses.
Besides projecting scenarios, this professional supports decisions focusing on the business goals.
What Is The Importance Of A Business Data Analyst?
Business Data Analysts have extended responsibilities within a business structure.
Their ability to connect areas and analyze processes makes them valuable and indispensable.
Growth opportunities, optimizations, corrections, and improvements are fundamental in any company.
When there is someone with the strategic background and data expertise to do this, there is no doubt that their role is essential.
Detecting new opportunities for business growth
A Business Data Analyst can identify opportunities for business development thanks to their accurate market vision.
By knowing the needs of consumers in comparison with what the company does, it is easy to detect opportunities for improvement.
Data is the basis for this perception by the professional.
The content they will manage will show where the company could perform better. Naturally, it is necessary to compare those analyses with market benchmarks.
The job of a Business Data Analyst is to maintain an active pursuit of growth and development.
In other words, it is very important to have a professional with extensive experience with optimization of processes and products within the company structure.
A company’s processes can place it as a market leader or as a struggling competitor.
No matter how qualified the product or service offered is, it is impossible to deliver it to the public effectively if the process is inadequate.
A Business Data Analyst must study every process a company performs in each of its areas.
To do so, this professional must have a sharp vision of technology, software, and how to efficiently utilize them within the corporate structure.
This process analysis work is created based on data.
By detecting the level of performance achieved by each sector, the Business Data Analyst will notice the need to optimize or even redesign some processes.
Taking business decisions based on qualified data
Business decisions are of major importance for a company.
This kind of move, if made incorrectly, can cost a business millions of dollars. Therefore, it is necessary to have a solid foundation to point to the right decisions.
The role of this professional is to understand:
- The company’s status.
- What the potential scenarios are.
- What the context will generate in terms of results.
By doing this work based on data, the analyst can determine the best decisions for the company.
Few people possess the strategic business knowledge that puts companies at the next level of the game.
This work is possible when someone in the business can visualize safe paths through data.
Enabling cost savings in the company
Commercial management work also aims at a better balance between the company and its costs.
Many points can generate problems in this regard, such as the use of obsolete resources.
A company could be spending too much on expensive and inefficient tools and software, for example.
But data can show how a company loses money. And a Business Data Analyst can identify better ways to do processes.
The role of this person is to actively search for optimizations and improvements that also mean the saving of financial resources.
The company can reallocate these values to necessary points, which will also contribute to the development of the business.
What Skills A Business Data Analyst Needs To Have?
To occupy such an important position within a company, you need to be qualified.
Some technical skills are essential for working with data. Possessing a sharp commercial awareness is also crucial for a Business Data Analyst’s success.
Therefore, companies will seek candidates who can perform well under the following requirements:
- Extensive experience in data, including research and analysis processes.
- Ability to work with SQL.
- Advanced communication skills, including with different team members in different sectors of the business.
- Experience in project management.
- Ability to identify and work with specific data that will be decisive in strategic business management.
- Skills in SAP.
- Mathematical and statistical skills.
- Skills with presentation platforms, data management in spreadsheets and report creation.
Business Analyst vs Data Analyst: Is There A Difference?
It’s a fairly common question: do Data Analysts and Business Analysts perform the same job?
Although they may seem similar, the answer is no.
Both professionals perform research and data analysis, but their ability to influence decision-making is very different.
Additionally, their backgrounds are different, which puts them in specific positions in occupying roles in companies.
Learn more about these differences below.
A Data Analyst is a professional whose job it is to analyze data, and then extract perceptions and insights from this content volume.
Their work is more oriented to numbers, report creation, and delivering these results to managers, who are the decision makers.
Another specific characteristic of this professional’s work is their increased responsibility in the management and maintenance of databases.
This is where the analytical elements of the job combine with operational activities.
The main difference in this occupation is its focus on business strategy.
Business Analysts spend more time identifying the improvement points needed in a company.
They also study processes and note how they can be optimized.
Professionals who occupy this position have a management-oriented background, and many have degrees in Business Administration and Economics, for example.
Based on this knowledge, these people are qualified in data analysis and this puts them in a position to occupy a business analyst job.
The management capacity of this professional is what makes them someone with the autonomy to make decisions.
Based on their analyses and insights extracted from data, these people can define safe and high-potential directions for companies.
How Much Does A Business Data Analyst Earn?
Business Data Analyst positions offer competitive salaries since it is a role that requires specialization in management areas and data analysis.
According to Glassdoor, the average salary for the position in the United States is $77.107 per year.
Of course, this is a range that can vary more or less according to the professional’s experience and the company’s budget. However, the average value is a good benchmark for comparison.
How Does One Become A Business Data Analyst?
A professional does not always need to follow a traditional path to become a Business Data Analyst.
There is no formula to reach the job, but some important requirements can help you achieve this position.
Highly qualified candidates will possess:
- A bachelor’s degree in management areas, such as Business Administration.
- A certification in data analysis through a specialized course.
- Knowledge of how to use important tools such as databases, SQL language, and others.
- Experience as an entry-level analyst job.
A Business Data Analyst can reach high places when it comes to roles in a company.
Data-driven businesses need people who know how to make strategic decisions with their help in addition to analyzing data. Therefore, the greater the knowledge in data, the better.
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