How to become a Business Analyst in India?

How to become a Business Analyst? Business analysts are not required to have an IT background, but they must understand how different process products and tools work. Business analysts who work in core IT occupations might well be interested in switching to a hybrid role and away from their core IT jobs. Both soft and hard skills are necessary to be a Business Analyst. Business Analyst gathers analysis and data trend reports, shares them, and applies them to the business.

How to Become a Business Analyst in India?

A person is called an analyst when their job is to go through some particular accords to examine in detail to be aware of the financial and business crisis in the present and the future.

There are several career paths in the field of a Business Analyst. Depending upon the background and the prospects, a candidate has various directions to pursue to become a Business Analyst. To put it in simple words, a candidate with any graduation degree (technical or non-technical) along with strong analytical and communication (written as well as verbal) skills can pursue a career as Business Analyst.

Academic Requirements for Business Analyst

A variety of courses in Business Analysis are available for interested students hailing from multiple educational backgrounds.

The basic academic qualifications for pursuing business analysis courses are as follows:

• For pursuing a Diploma course, a potential candidate must pass the 10+2 or equivalent examinations from a recognized education board.
• To pursue an Undergraduate program, a candidate should have passed 12th grade with disciplines such as mathematics and statistics, with an average of 50% to 60%.
• However, the cut-off varies with institutions. Also, students who did not opt for the disciplines mentioned above and still want to pursue Business Analytics can easily opt for relevant regulations for their undergraduate degree. 
• The postgraduate program, which spans two to three years. It requires a candidate to have completed graduation in the respective subjects.

Check Top Management Entrance Exams in India

What Does a Business Analyst do?

In the business analyst career path, a candidate needs to understand how things work for them. From being an excellent communicator and data analyzer to possessing project management and technical skills, Business Analysts regularly use various techniques.

They are the bridge force that connects each department's gap throughout every development step in the business sector. This analyst interacts with the business stakeholders and subject matter experts. They gather information, documents and analyze business needs and requirements by solving business problems.

The modern analyst identifies several characteristics that make up the role of a Business Analyst as follows:

• To work with the business to identify opportunities for improvement in business operations and processes.
• To be involved in the design or modification of business systems or IT systems.
• To gather information, documents, and analyze business needs and requirements.
• To document the functions and, sometimes, the technical design of the system.
• To interact with system architects and developers to ensure the system is implemented correctly.
• To help test the system and create system documentation and user manuals.

Business Analyst Career Path

Business analysts connect with recruiters to start their careers with entry-level positions related to their undergraduate degrees. The Bureau of Labor Statistics estimates the need for business analysts to increase by 14% by 2024. It is one of the highest average percentages among growing occupations.

Following are the five in-demand career path for Business Analyst:

• IT Business Analyst

• Data Analysis Scientist

• Business Analyst Manager

• Quantitative Analyst

• Data Business Analyst

These career paths have significant benefits and various other requirements to fulfil that recruiters look out for in a candidate. Strong analytical and good communication skills are mandatory to be a successful Business Analyst in any industry.

IT Business Analyst

An IT business analyst aims to build a winning partnership of business and technology. A qualified IT BA puts together a bridge that effectively integrates its business requirements with the best technology solutions.

As data collection increases and technology continues to develop, IT business analysts' role is expanding too. Job descriptions are growing beyond IT and software to include business components with the ability to focus on the strategy aspect of their roles, and this transition presents a spike in career opportunities.

Here the different prospects of an IT Business Analyst discussed below:

• Career Path of IT Business Analyst
• Salary of IT Business Analyst
• Qualifications of IT Business Analyst
• Responsibilities of IT Business Analyst

Career Path of IT Business Analyst

If a candidate has a good background in IT, then the candidate's career stream can directly lead the candidate to the Project Manager, Senior Project Manager, Program Manager, and Senior Program Manager.

If the candidate's business management talents are as strong as technical expertise, then the candidate can rise to senior business analyst and Business Consultant. Developing stronger roles in the business process and working on more than one project at a time are the key fundamentals that a candidate must possess.

Salary of IT Business Analyst

IT analysts are in demand in software services, telecom, banking, and other financial sectors. They usually earn between INR 3 Lakh and INR 11 Lakh in India (USD 46,000 to USD 102,000 in the US). The work environment and facilities are excellent, but the clients keep changing, making the job stressful. A candidate will also be continuously pressed for time.

One popular career is IT Project Manager, where they can earn an average of USD 94,400 with the potential to exceed USD 120,000. According to The Bureau of Labor Statistics, job projection is expected to increase by up to 9% by 2026.

Qualifications of IT Business Analyst

A degree in Computer Science or Information Technology with experience in Project Management or Consultancy management degree often gives a candidate personality traits, including listening and communication, negotiation, problem-solving, time management, and presentation skills. IT BAs also require interviewing skills to gather information from clients and project teams to organize and prioritize data.

Responsibilities of IT Business Analyst

IT Business analysts are packed with roles and responsibilities. From working two tasks at a time to interacting with new clients every day, they have very dynamic job profiles out there in the industry.

The key responsibilities for an IT Business Analyst are:

• Assessing business goals
• Data organization best practices
• Project and team management
• Internal corporate communication

Data Analysis Scientist

Data analysts take heaps of data and probe it to spot trends, make forecasts, and extract information to help their employers make better-informed business decisions.

Data analysts are the potential employers who take care of data usage for reasons, including targeting the right customers, investment decisions, or deciding to whom they should lend money. They command huge salaries and excellent perks, even at the entry level.

Here the different prospects of a Data Analyst Scientist discussed below:

• Career Path of Data Analysis Scientist
• Salary of Data Analysis Scientist
• Qualifications of Data Analysis Scientist
• Responsibilities of Data Analysis Scientist

Career Path of Data Analysis Scientist

The career path that a candidate takes as a data analyst depends in large part on the employers. Data analysts find employment at large Insurance Companies, Credit Bureaus, Technology Firms, and almost any industry which deals with clients.

At financial institutions such as investment banks, the management track is the most common career path that analysts take from the entry level. Advancing in a career as a data analyst means assuming responsibility for others and having their successes and failures ultimately fall on the candidate's shoulders.

Salary of Data Analysis Scientist

Data analyst scientists strive to earn a yearly salary of USD 130,300. They need to figure out ways to think outside of the technical box when it comes to mastering code and statistics, and even in entry-level jobs, data analysts tend to make about $125,000 right after college.

In India, a Data Analyst earns a starting wage of around INR 4 Lakh to INR 6 Lakh annually.

Qualifications of Data Analysis Scientist

A graduate from a data analysis program, particularly having a strong grade point average and a high ranking in class, should lead to an entry-level data analysis position without much trouble. Even a less-focused degree in Mathematics, Statistics, or Economics from a reputable university is enough to get a foot in the door.

Responsibilities of Data Analysis Scientist

A Data analyst also has many key responsibilities to look after for a successful workflow in the company. Analyzing skills and identifying new patterns and trends are the key factors of a responsible data analyst.

The responsibilities of a Data Analyst are:

• Collecting and interpreting data
• Analyzing results
• Identifying patterns and trends in data sets
• Working alongside teams within the business
• Defining new data collection and analysis processes

Business Analyst Manager

A Business Analyst can also be coined as a Management Analyst, working across all kinds of businesses. The job functions vary depending on the position, but the overall definition is the same. For earning positions with high-profile companies, candidates are expected to have a Master's degree in Business Administration.

Here the different prospects of a Business Analyst Manager discussed below:

• Career Path of Business Analyst Manager
• Salary of Business Analyst Manager
• Qualifications of Business Analyst Manager
• Responsibilities of Business Analyst Manager

Career Path of Business Analyst Manager

A business Analyst's career path usually begins with working at an entry-level, and gradually with experience and acquiring a better understanding of how businesses function, growing. Settling into the role of a Senior Business Analyst is the probable prospect. They might have a team of professionals involved in planning and developing a Business Process Design or working in other complicated and strategic functions in the business sector.

Salary of Business Analyst Manager

The average base salary for a Business Analyst Manager as of January 2018 is USD 70,170. For a self-motivated individual starting in the BA world, applying for a manager position comes with experience. The analyst adds value to the resume by taking advantage of online courses and work experience. In India, the average salary that a Business Analyst Manager makes is around INR 17 Lakh annually.

Qualifications of Business Analyst Manager

These positions require a Bachelor's degree in Finance or Business Administration and experience as a general business analyst. Business analyst managers work well independently and as part of a team since they supervise employees and communicate with clients.

Companies that hire Business Analyst managers seek candidates who display certain essential skills, which include:

• Critical Thinking
• Problem-solving Skills
• Communication Skills
• Familiarity with Microsoft

Responsibilities of Business Analyst Manager

Responsibilities include overseeing the ongoing education and coaching and supervising the teams developing, implementing, and collecting data.

The responsibilities of a Business Analyst Manager are as follows:

• Pull research that supports decision-making processes at a senior management level.
• Ensure continuous improvement.
• Synchronize data-driven projections, valuations, and analysis.
• Mentor and train entry-level business analysts.

Quantitative Analyst

Quantitative Analysts work in the Financial Industry and use mathematical and statistical techniques to study, measure, and evaluate financial instruments, financial markets, and market participants' behaviour. Quantitative Financial Analysts can work in firms like securities industries like Commercial Banks, Wealth Management Firms, Investment Banks, and Hedge Funds.

Here the different prospects of a Quantitative Analyst discussed below:

• Career Path of Quantitative Analyst
• Salary of Quantitative Analyst
• Qualifications of Quantitative Analyst
• Responsibilities of Quantitative Analyst

Career Path of Quantitative Analyst

The work of Quantitative Analysts begins as an entry-level research analyst after completion of a Bachelor's degree, which provides skills such as Finance, Economics, and Statistics. In the securities industry, quantitative analysts are typically hired for their expertise in complex mathematical modelling techniques, skills that require many years of training to develop.

Consequently, most quantitative analysts come to the field after completing a master's degree or doctorate. As an added advantage, analyst positions typically hold candidates with doctorates and experience conducting independent research.

Salary of Quantitative Analyst

Due to the challenging work nature, Quantitative Analysts hold a lot of value and can command rewarding salaries. Entry-level positions earn an average salary of 63,000 USD with the potential to exceed 126,000 USD. A master's degree or PhD in a "quantitative" subject, such as Mathematics, Economics, Financial Engineering, and Computational Finance, is required to pursue a career in quants.

In India, the average salary of a Quantitative Analyst ranges around INR 14 Lakh annually.

Qualifications of Quantitative Analyst

Quantitative financial analysts must have high proficiency in Database Management skills and Computer Programming skills to develop and implement mathematical models. The C++ programming language is generally considered the most important in the field, although requirements vary according to the position like Python, SQL, C#, Java, .NET, and VBA.

Responsibilities of Quantitative Analyst

Quantitative Analysts are responsible for a company's growth and development by performing various analyses using mathematical and statistical data.

Quantitative responsibilities have primary responsibilities, which include:

• To ensure financial firms don't assume risks that aren't proportional to expected market returns.
• To develop intricate mathematical models to accurately make profitable decisions about investment, pricing, and risk management.
• To perform risk analytics, modify bond pricing, monitor market dynamics, invent new statistical software, and present investing recommendations.

Data Business Analyst

Data Business Analysts use data to help organizations make effective decisions for the business. These professionals work with large data sets to identify trends, develop charts, and create visual presentations to assist with business making decisions. Employers tend to seek Data Business Analysts with a graduate-level degree in business-related fields and career experience.

• Career Path of Data Business Analyst
• Salary of Data Business Analyst
• Qualifications of Data Business Analyst
• Responsibilities of Data Business Analyst

Career Path of Data Business Analyst

The words "Business Analyst" perfectly summarizes every type of job we categorize under Business Analysts. "Business" emphasizes the importance of business understanding, and "Analyst" refers to the importance of statistics, computer engineering, and operation research in this type of role.

An analyst profession can ultimately work in a strategy-oriented role or work as a very specialized deep learning scientist. The former role has a stronger business component, while the latter role has a much stronger analytics component. The role generally has a trade-off between these two components, and you can switch between roles that have different proportions of the two components.

Salary of Data Business Analyst

Salary for the data business analyst ranges depending on many factors, including education, certifications, and additional experience. Data business analysts who monitor the hardware, software, and IT services can expect to earn salaries between $77,500 – $100,000, according to a 2017 report, which is a 3.8% increase from 2016.

In India, Data Business Analysts can expect a starting salary of around INR 4 Lakh.

Qualifications of Data Business Analyst

University graduates and school leavers can enter the Data Analysis profession. The common entry point for graduates is a degree in Statistics, Mathematics, or a related subject involving maths, such as economics or data science.

Responsibilities of Data Business Analyst

A Data Business Analyst has lots of responsibilities in the company. The Data Business Analyst must be capable of doing more than one task at a time.

The key responsibilities of the Data Business Analyst include:

• To analyze data and assess requirements from a business perspective related to an organization's overall system.
• To be a bridge of communication between the IT staff and the rest of the working community.
• To compare data flow to competition in the industry.

Business Analyst Skills

A variety of skills may be necessary to become a successful Business Analyst. It depends on the educational background as well the experience of a candidate on developing certain skills required to become a Business Analyst:

Some of the required skills are as follows:

• Commercial awareness
• Communication and interpersonal skills
• Time management and organizational skills
• Problem-solving skills
• Analytical skills
• Leadership and management skills
• An interest in understanding the project management techniques and computing systems
• Python coding
• MS Excel
• Mathematics Expertise
• Business/strategy acumen

Business Analyst Roles and Responsibilities

In the complex business environment, an organization's agility, adaptability, and ability to manage constant change through innovation can be keys to success. Traditional methods may no longer lead to reaching objectives when economic conditions are unfavourable. The corporations achieve goals through projects that translate customer needs into new products, services, and profits.

The Business Analyst's primary objective is to help businesses cost-effectively implement technology solutions by determining the requirements of a project or program and communicating them clearly to stakeholders, facilitators, and partners.

The Business analyst roles include:

• Recruitment analysis
• Requirements organizations
• Eliciting requirements
• Planning and monitoring
• Requirements management and communication
• Assisting with Business care

In order to be an aspiring Business Analyst here, one must work and study as efficiently as any other degree course and develop their skill sets.

The following points list the expected skillsets from a candidate:

• To understand the requirements of a Business
• Possibilities of the System
• Presentation and Public Speaking
• To support the project implementation
• User Acceptance Testing
• Technical writing, problem-solving, and decision-making
• To maintain systems and operations

Institutions with Business Analyst Courses

Various Institutions offer Business Analyst courses in India, educating and producing a higher number of successful Business Analysts.

Some of the know Indian Institutes that provide professional courses in Business Analytics are as follows:

• Indian Institute of Management, Kolkata
• Indian Institute of Management, Banglore
• Indian Statistical Institute, Kolkata
• Indian School of Business, Hyderabad
• Great Lakes Institute of Management
• Praxis Business School

Business Analyst Jobs

The skills required are effective communication/ interpersonal skills, advanced excel skills, experience working with senior decision-makers. These are some primitive jobs that the companies provide for Business Analysts. It includes various job profiles of business analysts.

Some of the popular Business Analyst jobs are listed below.

• Finance Controller/ Analyst
• Business Development Manager
• Business Analyst

Finance Controller: The job of the Finance Controller is to manage finance functions and operations and should be in a position to develop financial statements and analyze business operations and revenues. Moreover, the qualifications required are a master's degree in accounting, business administration, and commerce.

Business Development Manager: The primary task for a candidate in this job is to develop strategies to increase the business growth, negotiating with stakeholders, building & retaining relationships with the existing clients, expanding the client base, and staying updated on the business news locally and internationally.

The candidate to get hired should have the necessary skills such as Business Development, Marketing, Strategy, Finance.

Business Analyst: The Business Analyst's job is to outline the problems, therefore, analyzing them and giving solutions to overcome the problems. The qualifications required for a business analyst are to have a minimum of a Bachelor's degree in business studies, business administration, management, and information technology.

Top Business Analyst Companies in India

Some of the best corporate houses that hire business analysts in India, as per a report by Linkedin are as follows.

• Tata Consultancy Services
• Cognizant
• Accenture
• GENPACT
• Wipro
• Infosys
• IBM
• Deloitte
• HPE

Some of the startups that provide an excellent opportunity to pursue a Business Analytics career are Fractal Analytics, Mu Sigma Analytics, and AbsolutData.

Business Analyst Salary 

Business analysts are among the most sought-after professionals in the industry; they have a rare blend of business and analytical skills and are rewarded well with good pay packages. The average salary of a business analyst in India is INR INR 12.70 Lakh across all experience levels and skill sets. Mumbai is the highest paying city at almost INR 13.30,000 INR per annum, followed by Bengaluru at INR 12.50 Lakh. 78% of analytics professionals receive a salary upto INR 6 Lakh salary bracket.

Business Analyst Courses 

In India, various courses are available in some of the top institutions for Business Analytics and Development.

Some of these courses are listed below:

• Bachelor of Business Administration
• Bachelor of Business Management
• Master of Business Administration
• Diploma in Business Administration
• PG Diploma in Business Analysis

Bachelor of Business Administration 

Bachelor of Business Administration (BBA) Degree is one of the most popular bachelor degrees for students who want to thrive in business. It is generally a three-year undergraduate course. The eligibility to take this course is to complete class 12 in any of these streams (Science, Arts, and Commerce).

The candidates who want to appear for the entrance exam of this degree should attain an aggregate of a minimum of 50% in class 12(10+2).

The table below contains the specializations in BBA:

BBA Specializations

BBA Finance	BBA in Banking and Insurance
BBA Marketing	BBA Hospitality and Hotel Management
BBA Human Resource	BBA Information Technology
BBA Foreign Trade	BBA Communication and Media Management
BBA Hospital and Health Care Management	-

Bachelor of Business Management

Bachelor of Business Management (BBM) is also a three-year undergraduate course. The eligibility for this course to join is to complete class 12 with a good aggregate of above 50%.

Bachelor of Business Management subjects includes,

BBM Subjects

Principles of Management	Financial Accounting
Managerial Economics	Cost Accounting
Research Methodology	General English
Auditing	Marketing Management
Production Management	E-Commerce
General Hindi	Income tax

Master of Business Administration

Master of Business Administration is a postgraduate degree course, and it is generally a two-year program course. The eligibility for this program is to complete the bachelor program in any of these streams (BBA, BBM). The minimum score criteria are 50% of a Bachelor's degree. Moreover, some colleges accept a minimum score of 45%. It varies from one college to another.

Some of the popular specializations in this course are tabulated below:

Master of Business Administrattion Specialization

Finance	Operations
Marketing	Digital Marketing
Sales	Business Analytics
Human Resource	Import and Export
Entrepreneurship	Advertising
International Business	NGO Management
Business Economics	Disaster Management
Project Management	Agriculture and Food Business

Diploma in Business Administration

The eligibility criteria for this course is to complete intermediate with a good score. The students need to take an English essay writing test conducted by the University to become an eligibility candidate to take the course. The duration of the course will be from 3 months - 3 years.

Some of the career opportunities from this course are,

• Finance Manager
• Financial Analyst
• Business Analyst
• Recruitment Coordinator
• HR Head
• Operations Head
• Business Development Manager

PG Diploma in Business Analysis

The students who want to draw into this course need to possess a college Diploma or University degree in Business, Information Technology & Communications, or Computer Science. The course majorly emphasizes the practicality of one's career in the field of business analysis.

Some of the subjects that include in this course are,

• IT Business Analysis
• Project Management Planning
• Soft skills for Business
• Microsoft Project
• MS-office Suite Professional

Business Analyst Certification Course

Some of the business analysis certifications courses are offered that would strengthen the foundation of any person willing to become a Business Analyst.

Below are the certification courses.

• Certification for Business Analysts
• Business Analyst Certification for Beginners
• Certification of Competency in Business Analysis
• Certified Agile Business Analyst Certification
• Agile Analysis Certification Training
• PMI Professional in Business Analysis

Scope for Business Analysts in India

Business Analytics is one of the most promising IT jobs in India at present; the job description of a business analyst usually converges to analytics and project management roles.

The scope of Business Analytics is consistently growing. It is helping it move toward becoming a standard requirement as organizations at all levels and skills get into the big data game. Business analytics needs the right centre, right innovation, perfect individuals, the right culture, and top management commitment. Organizations like IBM, Accenture, and Deloitte utilize business examination apparatuses and think of helpful and productive choices.