Business Analyst Roles

Business Analyst Roles:

There are many types of roles that are required of a modern Analyst. It depends greatly on the type of industry you are in, but some fundamental aspects remain. Let’s break the term Business Analyst down for a second. The term Business implies the goal of making money. But there are many types of organizations that are in business not just to make money. Take non-profit organizations or community groups for example. And Analyst means a person who analyzes something. So some people may argue that a better term for a Business Analyst is a “Organization Analyst”. The most key roles for a Analyst include:

  • Superior attention to detail
  • Great interpersonal skills
  • Excellent communication both written and verbal
  • Understanding of the company’s business practices and familiarity with the industry.

You should notice that these skills are not just confined to one type of industry. The main goal of any organization analyst is to define the solution that helps the organization reach its goal; it is that simple. Now days more and more people feel that the Business Analyst is involved in just I.T. solutions. This is not the case. There are many different types of business analysts and they can have varying degrees of responsibility.

Here are just a few of the titles that encompass the role of modern Analyst’s.

  • Business
  • Systems
  • Data
  • Business Systems Analyst
  • I.T. Business Analyst
  • Product Development Analyst

This is just a small list of the types of roles that business analysts can occupy. If you are looking to become a business analyst in the I.T. field then you may be required to know software development or understand the structure of how networks are built. A business can be a very integral part of an organizations success or failure. It is not the type of job that you can assume has entry level positions. These types of people are usually experts or have high competency in their field.

There are however courses and certifications that you can receive to help you with credentials. I have done lots of research and have found very few formal business analyst training programs. It is hard to set up programs for roles that experts in a particular field will employ. Although there are some online courses and universities that do offer such course work. The roles of BA’s are always changing and will continue to do so. As long as business is going on organizations will need people who know how to analyze what they are doing and help them achieve their main goals. These people are usually very well compensated for what they know and many can earn over 100k/year. There is no standard work week for a business analyst as many work way over 40 hours. These people sometimes have the fair of the organization in their hands and it can be very pressure driven.

Even though it can be a very high stress job most BA’s get satisfaction in knowing that what they are doing really makes a difference. It can be a stressful profession, but also a very rewarding one. Imagine if you knew that your work was helping an organization succeed in the market.

Maximize Your Market Research With Google Trends

It doesn’t take long in the world of Internet marketing before you recognize the importance of good market research when it comes to the health and ultimate success of your business. While you can spend big money hiring people to do market research for you, or spend significant time and energy attempting to conduct it on your own, few methods are more user-friendly and effective than Google Trends.

Google is known worldwide for its useful tools, from its highly popular search engine to Gmail to a number of research and analyst tools. Google Trends is part of this family of free tools, and it tends to receive rave reviews from all users, regardless of the level of experience or type of business the user possesses.

Users of Google Trends claim it greatly improves their methods for conducting research online, which in turn helps them to be more productive and efficient in their businesses. They actually end up saving time and money as they learn about search engine trends on a global level.

How Does Google Trends Work?

Google released the tool to the public in 2004. Its purpose was to give users a method for viewing and monitoring online search results. Users can gain an understanding of how search results shift and change over a period of time. Another benefit to Google Trends is that it provides supporting information and relevant news stories that are related to the particular search term you enter. Instead of having to find the information on your own, it is all presented very neatly in an easy-to-understand format.

For example, after you plug a search term into the tool, it provides a line graph displaying time and search volume, as well as the countries, cities and areas that have searched for your specific term the most. By doing this, you can easily identify the types of products and solutions your target market is seeking. You can also learn exactly what search terms they are using, so that you have an understanding of how to best utilize your SEO tactics.

If you are interested in doing a comparison search between different terms, you can submit up to five words on the same graph by entering the terms separated by a comma. Being able to view the results for each term side-by-side is a great way to determine which words are going to be most powerful in your optimization of websites, articles, blogs and other online content you may use.

Far too many online businesses fail because they leave out the vital step of market and product research. Many who begin to use Google Trends discover that they did not know their target market as well as they thought. By using the tool to determine the best products and SEO terms, you are better able to meet your potential customers’ needs, rather than just throwing products out there hoping people will want them.

Once you witness the power of solid market research and product trending for yourself, you will likely never begin another product launch or website without incorporating them into your plan. The good news is that conducting this research doesn’t have to be difficult or even time consuming. Google Trends provides excellent search engine research with a few clicks of your mouse, helping you to propel your online business to the next level.

Marketing Research for NPD

Need meets Demand and Product meets the Needs – Products and concepts of innovative nature are difficult to be researched, owing to their intangibility. An experienced Researcher can help with this by bridging the gap between the new product development opportunities and the unmet needs of the buyer or the potential users by educating the Target audience and planting the seed for it.

Marketing research may be regarded as an experiment that can be unsuccessful if not conducted under the right and suitable conditions. Bottom-up approach of Needs Assessment and Concept Screening is more successful that the top-down approach of trying to fit and create acceptance of a new product or concept into the current market.

Concept Development to Product Launch – Market Research can be a part of the Product development at various stages from Egg implantation into the mother’s womb to the final Delivery of the baby.

Time is Money – Timely market research with high budgets can sometime prove much productive than a long-term but well-budgeted qualitative market research, because of an early launch and the first mover advantage.

Customer is the King – Retaining the existing market share and the users is very important and critical to an organisations health and wellbeing. Research helps in listening to consumer demands, invest in product development, innovation and improvement; and thus, make the customer feel important by being heard; which in turn rewards you with customer loyalty and an increased customer base.

Penetrating New MarketsQualitative Market Research helps find new markets for some old products or helps develop strategies for brand re-positioning or, rejuvenates the product life cycle by helping study the underlying needs of consumers.

Elimination of Ideas with no potential Returns – Research can help reduce the risks of potential hefty investments in future at a very nascent stage, by identifying the market and bouncing it off the identified target audience and focus groups. Thus, it can be a very strong reason to choose the right Market research organisation today… to avoid wrong turns and unseen accidents.

A Research Analyst is at the core of market research and has to use self-analysis, expertise and judgement; in addition to other qualitative research tools available for planning a successful launch of a New Product. These analysts act as moderators of an idea, rather than be a part of it at every step. They help testify, verify and put your beliefs on the right track.