Today’s world has become globally advanced and therefore, every businessman has a thirst to become global. It’s important for every firm to have insights and understanding of their business performances in order to have growth and great accomplishments.
The role of a Business Analytics Professional is to develop these insights. They basically investigate past performances of the business in order to gain new insights and drive business planning. Their main concern is to have these understandings based on data and statistical methods.
Business Analytics Professionals’ key role is to make decisions through the use of analytical modelling and fact-based understanding. Having business analytics professionals helps a business in building efficiency which ultimately leads to its expansion.
The term here used is ‘Business Analytics’ but many people tend to get this confused with ‘Data Analysts’. So, in order for you to not get confused, let’s first understand the differences between Business Analytics vs Data Analytics—
Business Analytics Professionals work on the statistical data to understand the performance of the business in order to give insights and recommend improvement. It investigates the data so as to be able to provide the answers to questions such as ‘why is it happening’, ‘what will happen in the future’, ‘what should be done for better outcome’. Whereas Data Analysts give analysis of what is needed for the business to function in an efficient manner. They specifically focus on mathematical and programming tools. They basically provide answers to questions such as ‘what has happened’, ‘what the problem is’ and ‘what actions are needed’.
Business Analytics professionals work on product improvement and marketing with the help of insights from data whereas Business Analysts are focused on improving policies and working on processes.
Now as the differences are clear, let’s focus on the skills which are needed to become a Business Analytics professional. One needs to understand the skills which are to be acquired to exist in this competitive industry. So, if you are looking for career in this field, you need to inherit these top five skills—
- Strong Communication Skills
Communication skills are the most important skill for every professional. Companies go for the people who are able to have a confident and clear conversation. They need professionals who are efficient in delivering their opinions and ideas in a very confident manner.
A Business analytics professional should have strong communication skills in order to give insights in a proper and concise manner. Every individual who is willing to enter into this profession must have the ability to communicate the analysed information in an effective manner. He should be able to construct an easy passage of understanding between himself and others so as to facilitate the process of decision-making.
The audience should be able to comprehend what you are trying to communicate. Therefore, strong communication skills are a must.
- Data Visualization and Interpretation Skills
Business analytics professionals deal with a huge amount of data and therefore it is necessary to visualize the data in a simple and concise manner. This visualization helps in comprehending the information by others who are liable to act upon it. With this skill, professionals are able to easily track the business’ performance and can have a comparison of the past and present performances.
With data visualization skills, a business analytics professional should also have the ability to think critically so that the data can be interpreted coherently. In a business scenario, this skill becomes significant so as to interpret the data for developing further strategies. For effective decision making and business planning, these skills are must-have.
SQL is a domain-specific language which is used in programming. The language is very useful in comprehending structured-data and is a fundamental skill needed for a business analytical professional. This language has variations such as Presto SQL, Hive and Server SQL of which the analytics professional should have the knowledge. This skill is required for analysis of data in a coherent manner.
- Knowledge of Statistics Software and Languages
Business Analytic professionals should have good knowledge of either of the two important programming languages R and Python. R is used for statistical analysis and Python for general programming. These languages facilitate the analysis of big databases.
Statistical software such as SPSS, SAS, Sage, Mathematica, MATLAB are also used in the analysis of the data. So, it is significant to have knowledge about these languages and software.
With this, the professionals should have a decent knowledge of statistics. They should be efficient in the use of tools such as regression, machine learning, descriptive statistics, Bayesian statistics which builds a strong base for analysis.
- Presentation Skills
An analytics professional should have the skills to give effective presentations. In order to present data in a clear and concise manner, presentation-skills are a must-have. This skill facilitates the audience to have a better understanding of the databases.
Presentation skills are required for a business analytics professional to be able to communicate effectively. Presentation can induce decisions so it becomes a lot more important to have this skill. For delivering statistical data and developing effective strategies, this skill is highly desired.
Business analytics professionals should have these five top skills sets to become a potential decision-maker. As the world is becoming more technologically advanced, the need for such skilled professionals is growing day by day. Business analytics professionals make it possible for companies to respond to their inefficiencies which lead to the growth of the companies. Therefore, every company wants to have the best of the people. They have the ability to improve the performance of the business, as well as building efficiencies for the process of growth.
As more and more companies are growing, so is the demand for these professionals. For the purpose of handling the databases, these professionals are highly demanded. Every company wants to be known globally. Therefore, the companies need to change dynamically and stay up-to-date. Business analytics professionals are the key to bring this change according to the needs of the environment. So, if you are willing to become one of these Business analytics, then you need to consider these skills and inherit them. These skills are necessary for a business analytics professional to have.