The role of a Business Analyst: what does the person in this position do?

Jan Zwoliński – Business Analyst, working in the banking sector since the beginning of his career. Previously a specialist in the valuation of investment funds. In ITDS since 2020. Currently working at HSBC as a Business/System Analyst, developing applications for one of the European markets.

IT Engineers Outsourcing allows companies to gain access to expertise, technology and resources without having to hire additional staff or invest in costly infrastructure. In order to best manage such projects, the knowledge and skills of qualified professionals are used – such as those in the position of a Business Analyst. In this text I will present the specifics of this position.

Business Analyst: who is it?

Business Analyst acts as a bridge between the technological team and business stakeholders when it comes to digital product design and development. He/she analyses user needs, stakeholder goals, existing products, technology trends, competitive advantages, market conditions and more. This helps in developing strategies that maximize the success of ongoing projects. In addition, the Analyst is responsible for communicating findings to both technological teams and stakeholders so that all those involved have a clear understanding of what is expected of them at each stage of the project.

Business Analysts also use their knowledge to identify potential problems or risks before a product launch. Thus, they can prevent any problems before they become a serious threat to the success of the project. In addition, Business Analysts can provide valuable insights into users’ interactions with digital products by analyzing user feedback and data collected from analytics reports. This allows informed decisions to be made about what features or modifications need to be implemented so that the product meets its intended goals.

What does a Business Analyst do?

A Business Analyst plays a major role in the development of any IT solutions projects. Among other things, it is his/her job to ensure that all requirements are accurately translated into functional specifications that provide a clear understanding of the desired product or service.

A Business Analyst is also tasked with monitoring the progress of the project development process. This is to ensure that all requirements are met as scheduled. He/she has a variety of tools at his/her disposal to help him/her evaluate the ongoing processes and identify areas for improvement.

Through close relationships with stakeholders, he/she can ensure that the client’s goals and those of the companies providing the outsourcing are aligned. Ultimately, effective Analysts create an environment where projects run smoothly, meeting deadlines and delivering high results for their clients.

Finally, Business Analysts often take on additional responsibilities, such as training users on how to use a particular software product or system. They create documentation, such as manuals or tutorials. They monitor performance metrics and conduct user research. Basically, anything related to helping companies achieve their goals through technology falls within the Business Analyst’s area of responsibility.

What are the key competencies for the Business Analyst position?

A candidate hired as an Analyst must be well-versed in project management processes, customer service principles, and change control procedures. He or she also serves as an interpreter, a mediator, or a go-between, who communicates business requirements from clients to development teams.

Here are the qualifications needed to become a Business Analyst:

• Technical knowledge and skills
• Understanding the principles of system design and analysis
• Excellent time management and problem-solving skills
• Ability to adapt quickly to changing requirements
• Ability to communicate effectively with customers
• Knowledge of project management techniques and tools
• Knowledge of Agile/Scrum methodologies
• Knowledge of database structures and SQL queries
• Experience in software testing
• Knowledge of UML (Unified Modeling Language)
• Knowledge of relevant regulatory frameworks and best practices
• Experience with reporting and ETL (Extract, Transform and Load) tools.

Recruiters looking to fill the positions of Business Analysts are most likely to select individuals who can demonstrate a high level of professionalism throughout business operations to maintain positive customer relationships.

To find a job in this profession, it is certainly also extremely helpful to know the industry that the recruiting company represents. This is because it allows you to more consciously oversee the situation in the company and actively participate in the planning and conducting important business processes. It is also undoubtedly useful to have a good knowledge of a foreign language or languages, especially when working for international companies.

How much does a Business Analyst earn?

The salary of a Business Analyst depends on a number of factors, including the size of the company and its location, the scope of responsibilities, education and experience. As a rule, however, it is a very well-paid profession, where the salary can even exceed the national average several times. Most offers for experienced Analysts fall in the PLN 14,000 to 16,000 net range, and a promotion to a higher position guarantees a significant raise.

In many cases, Business Analysts are enticed by employers with numerous non-salary benefits, such as medical care packages, gym passes, language courses, and specialized training. In addition, they often have a choice of billing models. Due to the nature of the duties performed, there is also a great deal of freedom in terms of the work mode. According to one’s preferences or abilities, an Analyst can successfully work in a stationary, a hybrid mode, or completely remotely.

What are the growth prospects for a Business Analyst?

The growth prospects for the profession of a Business Analyst are strong. According to the U.S. Bureau of Labor Statistics, employment in the sector is projected to grow 16% from 2019 to 2029. That is faster than the average pace for all other occupations.

Demand for Analysts is expected to grow as organizations increasingly rely on technology-based solutions for daily operations. As digital transformation initiatives grow, companies are turning to specialists who can provide them with the right solutions.

Business Analysts have many opportunities for career advancement and, consequently, adequate earnings. An ambitious, capable employee can be promoted over time to a senior position, and later to a managerial position, up to the level of director of the entire department. It also happens that the best specialists are eventually offered the role of Project Managers. Some, on the other hand, prefer to focus on a path related strictly to IT issues, making them System Analysts, and then take managerial and directorial positions in IT departments.

Summary

A Business Analyst plays an important role in helping companies use technology for business purposes. Hiring a dedicated person for this position is critical to the success of the project. The Analyst is an expert in understanding complex business processes and can help identify areas that need improvement or development. Such a person is also adept at analyzing data, conducting research, and finding solutions that meet customer needs. The role of a Business Analyst makes hiring an experienced person for this position an invaluable asset when it comes to creating effective digital products.