A business analyst (BA) is a professional who analyses a business or organization for the purpose of assessing how it runs, the model it follows, and its integration with modern technology. Business analysts have been compared to architects, as they help to build and structure a business as would an architect with a house. While business analysts can be regarded as a frivolous expenditure, they often have a positive impact on the company. Here are five reasons why you may need a business analyst for your business.
1. Increased Return on Investment
One of the main concerns of a company is to ensure that any investment made into the company increases in value. A company’s return on investment (ROI) is often a way to measure how efficient an investment has been. It is worked out by comparing the cost of the investment to the benefit value of the investment. A business analyst can help to increase any returns on investment as they work to reduce costs where possible by finding cost-effective solutions. Similarly, a business analyst will make cost-efficient changes throughout the organization to further increase return on investments.
2. Data Management and Assessment
A business analyst should be able to manage data within database management systems in order to fully understand your organization and allow them to advise certain changes that need to be made. A thorough understanding of modern information technology such as SQL and databases is essential. Look out for a business analyst who has had SQL training from recognized providers. This will help them look at your data more efficiently since SQL is an essential part of understanding database information. Treat a business analyst just like any other employee and ensure their skills are up to speed.
3. Discover Organizational Structure & Requirements
Through the analysis and exploration of your company that a business analyst will provide, you will be able to learn any new organizational needs that your business may require. This could be any kind of problem in your company such as payroll issues, organization structure, and the use of different technologies in order to make working with clients easier and to stay ahead of other competitors. A business analyst may find that your staff needs training in a specific area to make your organization run more efficiently and smoothly.
4. Improved Projects
Having a strong and efficient business analyst can be a critical part of improving your company projects. While you have team leaders and project managers as part of your company, a business analyst will be able to see how much the projects add to the overall goals of the company. This adds another level of scrutiny to your business.
Business analysts are also responsible for collaborating with any projects to ensure that no time is wasted having to redo work caused by errors. They can determine the requirements of a project from the start and then follow the success of the project to the end.
Business analysts can be a vital part of any organization, as they really boost a company’s focus and enables them to become goal-oriented in a more cost-effective way.