February 22, 2024

What Does a Business Analyst Do?

In the modern world of business, companies generate massive amounts of data daily. From customer information to sales figures and market trends, this data holds valuable insights that can help businesses gain a competitive edge. However, raw data is worthless without an analyst who has the skills to sift through this information, identify telltale patterns and trends, and extract actionable recommendations.

Business analysts are similar to doctors in this sense; they examine a company (patient) and use data to diagnose any problems. Once they’ve identified issues, they propose solutions that can improve processes and optimize results.

For example, a marketing analyst may design an experiment that aims to determine the best time of day for an ecommerce website to advertise its products. By analyzing this data, the analyst can optimize the site’s core metrics and increase revenue.

Another way an analyst can improve ROI is by providing insights into existing campaigns. This can help a company save money by identifying where its marketing dollars are being spent and not yielding results.

Finally, a skilled analyst can also analyze attribution models to estimate big-picture ROI on marketing efforts. This is becoming increasingly important as advertisers have less access to user-level interaction data with ads due to recent iOS privacy updates and social platform policy changes.

If you’re interested in pursuing a career as an analyst, you’ll need to acquire the right mix of education, experience and skills. Many employers list a bachelor’s degree as a minimum requirement, with degrees in business, finance, accounting and mathematics among the most preferred options. Earning a relevant certification and completing an internship can also provide professional exposure and accelerate your journey toward this career path.

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