For any business enterprise, it is very important to gather business intelligence to make business strategies and make smart decisions. Gone are the days of manual market surveys and traditional methods of acquiring business intelligence are no longer valid.
In recent times digitization has gained much prominence and companies must look for data-driven business solutions to stay competitive and to seek continuous growth.
The emergence of data as a key resource has made it inevitable for companies to hire a workforce skilled in business analytics tools. By enrolling in a course offering certification in business analytics, enthusiasts can acquire the relevant skills and get hired by top tech firms in the role of business analyst. A business analyst helps organizations with valuable insights from acquired data and offers data-based precise information for the business leaders to work upon. In 2022 no one can doubt the contribution of business analysts around the world to add value to businesses.
Let us understand how a business analyst adds value to a business with the help of an example:
Driving customer satisfaction is one of the most important factors for success in the field of online services. Swiggy which offers food and parcel delivery services around India recognized the value of data-driven business analytics early on. Through its software development kit-Swiggylytics, the company acquires crucial data in real-time. Through the help of business analysts, the company can predict an increase or decrease of demand in a particular locality and thus allocate its delivery service partners according to that. This helps to reduce the time of food delivery to a great extent thereby driving customer satisfaction.
Another good example is how Amazon predicts an increase or decrease in the volume of call flow to the company’s customer service representatives. According to the available insights acquired by business analysts, Amazon manages the workforce so that a customer does not have to wait for more than two minutes ever while trying to reach a customer service agent.
Apart from accurate predictions, business analytics also helps business organizations to judge the effectiveness of different business strategies. For example, the marketing team of a company can see on a real-time basis how the team’s current marketing strategy is doing or how effective is the strategy. Based on real-time business analytics data the team can manipulate the strategy or switch on to a new strategy.
From plugging loopholes in the production process to reducing wastage of resources, business organizations around the world are using business analytics for a variety of reasons and this is why the demand for business analysts is very high.
Should you opt for a business analytics certification?
This is perhaps the best time to pursue business analytics and acquire relevant skills. Growing market size, increasing adoption rates, and high demand for skilled professionals – all such trends indicate that there is a lot of promise in the field of business analytics.
However, there are various business analytics courses available today and before enrolling you must check whether all the relevant skills are being taught.
What are the relevant business analytics skills?
While there are plenty of technical skills a budding business analyst may require, the importance of SQL cannot be overemphasized. It is the coding language for working with different databases and employers around the globe want to hire individuals who have good prowess in SQL. Thus, make sure the certification course you are opting for is providing you with sufficient training in SQL.
- Python or R
Obviously to work with data you need to know at least one statistical language. It can be Python or it can even be R. However, Python is more popular than R, and companies around the globe prefer Python over R because of its low learning curve and easy-to-use libraries dedicated to data analytics.
Often ignored and looked down upon but Excel is still standing tall when it comes to spreadsheet programs. Knowledge of advanced Excel is very important to be a successful business analyst and recruiters do look for individuals well versed in all the advanced Excel functions for managing datasets and conveying the result of analytics to other stakeholders.
Apart from the above technical skills, you are also required to develop keen business acumen and a thirst for solving puzzles!
A senior business analyst earns anything between Rs 12lakh to 16lakh in India according to glassdoor. Thus, join a reputed business analytics course like the one offered by Analytix Labs to dive into the lucrative career field of analytics.