The collection and use of data for the definition of business plans and strategic decisions is an increasingly important activity for companies that aim to achieve high levels of competitiveness. Precisely for this reason, the Business Analyst has become a key figure for improving business processes through Business Intelligence, Business Analysis and Data Visualization tools.
According to a TAG Innovation School survey, in fact, 50% of Italian SMEs will hire a Data Analysis expert within the next few years.
Activities and tools: how a Business Analyst works
The task of a Business Analyst is to analyze company needs in detail, identify inefficiencies and propose solutions and alternatives aimed at improving processes. It is, therefore, a professional figure who supports companies in strategic and operational changes, which allow them to assume positions of strength within an increasingly competitive market.
Specifically:
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theydialogue with the different Lines of Business to identify needs and requirements
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identifygaps and areas for improvement
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definedata-based goals
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proposehypotheticalsolutions
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drawa business plan, including a budget and project requirements
Its main functions also include constant contact with stakeholders and the definition of KPIs (Key Performance Indicators) to facilitate the monitoring of business performance.
In carrying out their activities, Business Analysts use self-service tools for data extraction, analysis and visualization, which allow them to create reports and dashboards to monitor the progress of the various activities. To these are added business process management tools, useful for following the progress of projects and managing the automatic updating of procedures, and collaboration software, which facilitate communication with colleagues and stakeholders.
Business Analyst’s role and responsibility within the company
Therefore, the Business Analyst becomes a figure of connection and alignment between needs, objectives and business strategies. They act as an intermediary between the Data Scientist and the business users of the different Lines of Business and can deal with one or more sectors, assuming, depending on the case, different specializations. Among these we find:
Sales Business Analyst: supports the managers of the Sales area in planning and forecasting sales, analyzes sales data according to different KPIs, verifies profitability.
CRM Business Analyst: deals with the management and analysis of customer data and the monitoring of responses to Marketing and Sales campaigns.
IT Business Analyst: promotes and defines innovative IT solutions, capable of bringing added value to the company.
Supply Chain Business Analyst: works on optimizing performance in the supply chain.
It is therefore a rather transversal figure, increasingly in demand, oriented towards innovation and who, even in the absence of a specific IT background, uses data analysis for strategic purposes.