Careers in business analytics are projected to expand at an extraordinarily favourable rate. The increased demand for workers with a master’s degree in business analytics or a comparable education enhances wage earning potential, particularly at major technology businesses with spending power, and improves overall job satisfaction.
A business analyst assists organisations in analysing large data sets, visualising discoveries, forecasting future trends, and prescribing effective business choices. These experts work with data on a variety of levels and are responsible for communicating their results to other team members. Typically, a business analyst is accountable for the following:
- Amass data and documentation in order to kick-start business analytics
- Conduct data analysis and offer suggestions based on the findings
- Manage the company’s risks
- Monitoring the performance of initiatives on a consistent basis
- Recognize issues and provide solutions swiftly
- Develop data-driven business strategies
- Communicate business strategies to CEOs and management
- Take comments into account while developing future business strategies
In the United Kingdom, the typical compensation for a business analyst is between £35k and £69k. A business analyst’s typical compensation is also affected by their years of experience and workplace location. London, England, is the highest-paying place for a business analyst profession. Business analysts in London generally earn 14% more than those in the rest of the UK.
Salary for a business analyst is also determined by the size of the firm and the industry in which they operate. Both the finance and technological sectors provide competitive salaries. For instance, a business analyst at Barclays, an investment bank and financial services corporation based in London, England, earns an average of £99,000. London is a well-known centre for the technology, business, and financial sectors, and an attractive place for data analytics specialists.
While working in data science and analytics is an appealing career path with several perks (a favourable employment outlook, a high pay, and an employability rating), the area continues to lack female diversity. According to BCG, women make up as little as 15% of data scientists nowadays. BCG acknowledges the problem of diversity, stating, “Diversity of methodologies and points of view is not simply desirable—it is vital when developing data science teams.”
Harnessing big data has become a standard practise for businesses in a wide variety of industries. Senior executives must work to ensure fair recruitment and representation in the data science and business analytics fields. Women must also explore employment prospects in data analytics and consider their role in redressing the gender disparity in STEM fields.
Careers That Are Related
The title “Business Analyst” is often used interchangeably with various business analytics jobs such as Systems Analyst, Management Consultant, Process Analyst, or Business Architect inside organisations.
Professionals with expertise as business analysts may also pursue similar positions. Business analysts’ tasks need the development of skills such as mediation, data analysis, risk management, and project management, all of which transfer well to related jobs.
Making a choice
Have a question about the online Bachelor’s/Master’s Degree offered by London School of International Business, UK ? Our professional and friendly Admissions staff will be delighted to walk you through your choices. Simply Chat with us or email us or WhatsApp us, and we’ll get back to you.