Business Analysis has become an integral part of every business.
IDC (Interactive Data Corporation) projects that data generation is set to reach 163 zettabytes by the year 2025. Data Science is used everywhere in government agencies, big corporations, and entrepreneurs across every industry to get meaningful insights lying underneath this huge data generation. These insights are important for businesses as they enable them to improve efficiency and recommend innovative solutions to deal with business issues. This is the main reason that Analytics is also leveraged widely to plan election campaigns and win elections.
With Business Analysis, organizations get to know where their business stands so that they can plan their strategies for overall improvement.
Are you looking for an online business analysis course?
Let us first look at the reasons for taking the course and learning Business Analysis.
Reasons for learning Business Analysis
- The worldwide Business Analytics market is projected to grow by a CAGR (Compound Annual Growth Rate) of 7.3% and is expected to shoot from USD 67.92 billion in 2019 to USD 103.65 billion by the year 2025, according to mordorintelligence.com.
- Did you know that Business analysis skills are regarded as one of the top ten skills in demand in 2020, as per a report by LinkedIn?
- As per a report by Glassdoor, it is expected that there will be a whopping 14% growth in job roles of Business Analysis by the year 2028
- Almost all big organizations are looking for Business Analysts, including American Express, Hotstar, Amazon, Microsoft, Samsung, Shell, Mercedes-Benz, Deloitte, Accenture, LinkedIn, Oracle, Nestle, and many more.
- Business Analysts can be found working with numbers and other data formats across every industry, including Information Technology, Banking and Finance, Manufacturing, Media and Entertainment, Healthcare and Pharmaceuticals, Consultancy firms, and many others.
- The areas of applications of Business Analysis include Speech Recognition systems, Gaming, Fraud Detection Systems, Price Comparison, Image Recognition, and Recommender Systems.
Now that you have seen the strong reasons for learning Business Analysis let’s look at what is covered under Business Analysis.
Processes under Business Analysis
Business Problem Framing
The first step in the Business Analysis domain starts before analysis. It is important to understand the purpose of analysis before even starting the process. In this step, you will try to understand what your business is all about and what are its key objectives. This way, you formulate the business problem.
Can you believe that once you frame the business problem, it becomes very easy to find smart solutions?
Analytics Problem Framing
In this step, you need to reformulate the business problem keeping analytics in mind. You are required to develop an initial set of factors and the way these are related to the output. This step also requires you to define the metric that brings success to your model.
In this step, you basically determine and select the data which is meant for analysis as well as its source. You then start with cleaning the data and making it ready for analysis. Then you are required to identify the relationship between data and report to concerned team members.
Selecting the methodologies and building models
Once you are done working with data, you now need to determine which method is best for analyzing it. The selection process is based on the type of your data and the method of analysis that you need to perform. Sometimes you will be required to make multiple models and compare them on the basis of metrics you have defined in the earlier steps.
After building models, it is important to validate the model to see if it is providing accurate predictions. You deploy your model on the company’s system when it has been verified and reported, and it will begin to analyze any new data that comes in. A model must be regularly checked for accuracy after deployment.
So the steps included in the process of Business Analysis include:
Business Understanding → Analytics Approach → Data Requirements → Data Collection → Data Understanding → Data Preparation → Modeling → Evaluation → Deployment → Feedback
What is Business Analysis Course?
Today, many edtech firms provide top-class business analysis courses to enable candidates to acquire the right and relevant knowledge regarding the domain. In this section, we will discuss the Business Analysis course offered by Simplilearn, an edtech giant.
Professional Certificate Program in Business Analysis by Simplilearn is rated among the top 5 courses by entrepreneurs.
This program is specifically meant for professionals who wish to pursue a career in business analysis, get hands-on experience with business analysis tools and techniques, understand the techniques employed in business analysis, and also for experienced analysts who wish to learn the trending frameworks and tools that are widely used by Agile teams.
The skills covered in this course include:
- Business Analysis
- Requirement Analysis
- Strategy Analysis
- Scrum Artifacts
- Elicitation and Collaboration
- Planning and Monitoring
- Data Visualization
- Statistical Analysis using Excel
- Data Analysis
- BRD FRD and SRS Document Creation
- Requirements Lifecycle Management
- Solution Evaluation
- Agile Scrum Methodology
- SQL Database
- Digital Transformation
The tools covered in this course include:
- Microsoft Power BI
- Microsoft Excel
Simplilearn never fails to meet your expectations of an ideal online training course. It provides you with best-in-class training which is delivered by industry experts active in their domain. Also, it lets you work on small and big projects so that you get hands-on practice with the latest tools and techniques used by Business Analysts across the globe. Simplilearn lets you choose from different learning modes which include online training, instructor-led, and blended learning approach.
Ask Me Anything sessions are one of the best features of this course, as these sessions it tries to clarify all your doubts so that you attain your certification on the very first attempt. Career Mentorship programs help you build a strong portfolio so that you land your dream job in this domain.
With so many great features, Simplilearn can prove to be a smart move that helps you advance your career.
Enroll Yourself Now!!