Top Skills You Need to Build a Career in Business Analytics

The most important skills that you need to build a successful analytics career are communication, data visualization, problem-solving, critical thinking, and data analysis. Similarly, skills such as business analysis and analytical reasoning have become highly important in this context as well. Apart from these you must also have good knowledge of programming languages to achieve success in this domain.  Thus, evidently, you need specific soft and technical skills to thrive in the world of big data and have a successful analytics career overall. 

The big data landscape has undergone drastic changes since its inception. This has also made it hard for the professionals to know about the specific areas where they should focus their growth. However, despite the dynamic nature of the domain, you do have to have specific fundamental skills. The core business analytics skills are good communication, inquisition, problem-solving, critical thinking, visualization, attention to detail, and the big picture. Technical skills are also crucial in this context, such as the knowledge and mastery of Structured Query Language (SQL), statistical languages, and statistical software.  

This article will discuss the top skills required for business analytics professionals, including technical and soft skills. It will also highlight the optional skills that add extra value in such scenarios. Finally, it will discuss the reasons why these skills are so critical. 

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What is Business Analytics?

Business analytics is the process of using statistical methods and data to gather insights and make informed business decisions. You must use your business analytics skills to collect, analyze, and interpret data to understand previous performance. 

This also helps you identify trends and forecast future outcomes. This, in the end, helps organizations optimize their operations, enhance their strategies, and, thus, gain a competitive edge. 

Chief aspects of business analytics 

• Data-driven decision making – Business analytics has now moved beyond intuition – it depends on data for guiding decisions that lead to more efficient and effective outcomes. 

• Focusing on business problems – Business analytics does not mean analyzing data simply because it must be done. It uses data to identify opportunities and solve specific business challenges.

• Using different techniques – Business analytics uses a diverse array of methods, such as statistical analysis, visualization, data mining, and predictive modeling, to get meaningful insights from data. 

• Iterative process – Business analytics is constantly evolving thanks to the continuous exploration, refinement, and analysis. The goal here is to keep on enhancing business performance. 

The way it works

Business analytics works by clearly defining the problem in the beginning. It determines the opportunity or challenge that it must address. Then it collects crucial data from different sources and makes sure that it is complete and accurate. It then uses the correct analytical techniques to discover patterns, relationships, and trends in the data. After this, it interprets the results, communicates the findings, and makes recommendations.

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Top Technical Skills for Business Analytics Professionals

The top technical skills needed for business analysts are expertise in the following: 

• Data Analysis 
• Programming Languages such as R and Python
• Database Management using SQL
• Data Visualization
• Statistical Modeling

Apart from these, you also need to be proficient in BI tools such as Excel, Power Business Intelligence (BI), and Tableau. These days, experience with big data technologies and the understanding of machine learning concepts are growing in importance as well. 

• Data analysis and fundamentals – The most critical components here are exploratory data analysis (EDA), statistical modeling, data mining, and data cleaning and munging. EDA means using visualization tools and statistical techniques to comprehend the characteristics of data, determine patterns, and make hypotheses. 

• Programming languages – Python, R, and SQL are the most essential programming languages for a business analytics professional. Python is a versatile language with libraries such as Pandas, Scikit-learn, and NumPy, and it is used for data analysis & manipulation, as well as machine learning. 

• Data visualization – They also need to be proficient in software tools such as Power BI and Tableau, as well as the principles of data visualization. 

• Database management – The three most important factors here are SQL, big data technologies, and database concepts.

• Statistical software – The most crucial statistical software for aspiring business analytics professionals are Statistical Analysis System (SAS) and Statistical Package for Social Sciences (SPSS).  

• Practical skills – The following are the other valuable skills that aspiring business analytics professionals must possess:

1. Microsoft Excel
2. Machine Learning 
3. Communication 
4. Problem-Solving
5. Critical Thinking 

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Top Soft Skills Required in Business Analytics

The top soft skills for a business analyst career are the following:

• Strong Communication – Both Verbal and Written
• Critical Thinking 
• Problem-Solving 
• Stakeholder Management 
• Adaptability 

You also need to be an effective collaborator, facilitator, and time manager to be successful in this role.

• Communication – Business analysts interact frequently with different stakeholders. So they need concise and clear communication skills to convey complex information, present findings, and gather requirements.

• Problem-solving and critical thinking – Some of the core responsibilities of business analytics professionals are analyzing complex situations, determining problems, and offering practical solutions.

• Stakeholder management – Business analytics professionals must build and maintain positive relations with stakeholders so that they can gather requirements, manage expectations, and ensure the project’s success. 

• Flexibility and adaptability – They must be capable of adjusting to changing situations. This includes changing requirements and new data related to the project. These are vital skills to have in dynamic business environments.

• Teamwork and collaboration – Business analytics professionals frequently work in cross-functional teams, and this calls for strong collaboration skills so that they can work effectively in tandem with other stakeholders, such as designers and developers. 

• Negotiation and facilitation – A key aspect of this role is to facilitate meetings, discussions, and workshops to gather requirements and drive consensus. 

The other critical soft skills that a business analytics professional must have are organization and time management, active listening, empathy, attention to detail, and leadership qualities. All these skills are equally crucial for them to succeed.

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Optional Skills That Add Extra Value

Apart from business analyst technical skills and soft skills, you have specific optional skills that can enhance their career growth significantly. Not only do these additional capabilities make you more versatile, but they also improve your ability to manage complex and large-scale projects.   

Knowledge of Cloud Platforms (Amazon Web Services (AWS), Google Cloud Platform (GCP), Microsoft Azure)

Cloud platforms such as AWS, Azure, and GCP are becoming increasingly valuable. Thus, you have to know how to use them well as a business analytics professional. Do remember that these platforms are helpful for storing, analyzing, and processing large amounts of data efficiently. Knowing this will also let you make economical and scalable analytics systems. 

Exposure to Big Data Tools (Hadoop, Spark)

An essential part of business analytics is working with high-velocity and high-volume data. By understanding Big Data tools such as Apache Spark and Hadoop, business analytics professionals can handle unstructured datasets and perform distributed processing. This way, they can also use information that conventional tools cannot manage properly to gain insights. 

Project Management (Agile, Scrum)

Commendable project management skills can assist you in delivering analytics projects at the right time and in an organized and collaborative manner. Knowing Scrum and Agile methodologies equips such professionals to work well in fast environments, coordinate effectively with cross-functional teams, and adapt to the ever-changing necessities. 

When you master these optional, yet immensely relevant skills, you can position yourself as a strategic asset in data-driven businesses. 

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Why Skills Matter in Business Analytics

Working with numbers is not the only aspect of business analytics. It involves transforming raw data to meaningful insights that can drive decision-making. It is an immensely competitive domain and, as such, you need to have the right skills so that you can deliver actual business value rather than just performing tasks. 

• Driving data-backed decisions – Organizations these days depend on business analytics professionals to change complex data into actionable strategies. Having skills such as statistical analysis, predictive modeling, and data visualization can help business analytics professionals identify trends, predict results, and aid leaders in making informed decisions. 

• Improving problem-solving capabilities – If professionals have commendable technical and analytical skills, they can approach business challenges systematically. For example, if they are proficient in tools such as SQL, R, and Python, it helps them extract and process data efficiently. 

• Adapting to growing technology – Business analytics is constantly integrating new tools, methodologies, and platforms, which means that it is continually evolving. Professionals with versatile skills such as cloud-based analytics and machine learning can adapt fast and thus remain relevant. This makes sure that they can keep making impactful contributions even in changing environments. 

• Boosting opportunities and career growth – Employers are always looking for business analytics professionals who can combine business acumen and communication skills with technical expertise. If you can present your insights clearly, understand industry-specific requirements, and collaborate with teams, it can provide you with greater opportunities to advance your career. 

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Conclusion

There are several reasons why you should pursue the Master of Science in Business Analytics program at Manipal Academy of Higher Education (MAHE).

• Practical, industry-aligned curriculum – This MAHE program, available on the Online Manipal platform, is an application-oriented and interdisciplinary one that has been designed with industry inputs. This prepares students well for analytics roles in businesses such as finance, marketing, operations, and human resources (HR). It will equip you with real-world analytics skills right from the beginning. 

• Access to specialized analytics centers – MAHE has a devoted center for studying business analytics. It focuses on consulting, education, and training in analytics. It makes sure that you work on projects that reflect present industry realities and learn from professionals.

• Global presence and strong accreditation – MAHE has received recognition as an Institution of Eminence thanks to its National Assessment and Accreditation Council (NAAC) A++ accreditation. Its National Institutional Ranking Framework (NIRF) rankings are strong too – it is ranked at 4th among all universities in India and 14th overall. The online program is University Grants Commission (UGC)-entitled and accessible worldwide. These factors reinforce both its flexibility and credibility. 

• Career outcomes and support – As a graduate of this program, you can expect some of the finest career support. The alumni of this program usually find work in lucrative roles such as business analyst, BI analyst, and data analyst. It will also open doors to job opportunities with the leading employers in sectors such as technology, consulting, finance, and healthcare. 

The program is an excellent combination of academic rigor and industry relevance, backed by a strong coaching infrastructure and accreditation.

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FAQs

1. What qualifications do I need to start a career in business analytics?

If you want to start a career in business analytics, at the very least, you will need a bachelor’s degree in a relevant domain, such as: 

• Statistics 
• Mathematics 
• Computer Science 
• Engineering 
• Information Technology (IT) Disciplines 
• Business Administration
• Commerce 
• Economics 

2. Is coding necessary to work in business analytics?

No, you do not strictly require coding skills to work in the business analytics industry. However, if you have at least basic coding skills, it can boost your efficacy and career prospects significantly.

3. What industries hire business analytics professionals?

The following industries are the biggest recruiters of business analytics professionals: 

• Healthcare 
• Retail
• Logistics 
• Manufacturing
• Consulting
• Media
• Sports
• Pharmaceuticals
• Real Estate 

4. What is the difference between a data analyst and a business analyst?

Business analysts use data to assist organizations in making more effective business decisions. On the contrary, data analysts gather and analyze data for businesses to evaluate it and make decisions by themselves.

5. Can I pursue business analytics without a background in mathematics or statistics?

Students can always take a Bachelor of Computer Applications (BCA) degree in business analytics even if they have not studied mathematics or statistics in their 12th grade. However, a strong foundation in these subjects is beneficial in these cases.

6. What are the best tools to learn for a business analytics career?

The following are some of the best tools that an aspiring business analytics professional must learn for a successful career:

• Data Manipulation and Analysis Tools like Excel and Google Sheets 
• BI and Data Visualization Tools like Tableau 
• Cloud Platforms and Big Data Tools like Google BigQuery