Magazine / Business Intelligence
Mar 25, 2021 11:16:59 AM

Business Analysts: what they do and their role within the company

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 competitivenessPrecisely for this reason, the Business Analyst has become a key figure for improving business processes through Business IntelligenceBusiness 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 detailidentify inefficiencies and propose solutions and alternatives aimed at improving processesIt istherefore, a professional figure who supports companies in strategic and operational changeswhich allow them to assume positions of strength within an increasingly competitive market. 

Specifically: 

 

  • theydialogue with the different Lines of Business to identify needs and requirements 

  • identifygaps and areas for improvement 

  • definedata-based goals 

  • proposehypotheticalsolutions 

  • 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 extractionanalysis and visualizationwhich 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 softwarewhich 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 needsobjectives 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 sectorsassumingdepending on the case, different specializationsAmong these we find: 

    Sales Business Analyst: supports the managers of the Sales area in planning and forecasting sales, analyzes sales data according to different KPIsverifies profitability. 

    CRM Business Analystdeals with the management and analysis of customer data and the monitoring of responses to Marketing and Sales campaigns. 

    IT Business Analystpromotes and defines innovative IT solutionscapable 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 whoeven in the absence of a specific IT background, uses data analysis for strategic purposes. 

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