In the real world, companies are constantly focusing to optimise the budget invested on the employees. Many might think the same work could be handled by managers and web developers however the survey says only 20% of the projects are completed successfully without the help of Business Analyst. Business Analyst is the most efficient resource who adds value before the project is commenced. Business Analyst can actually reduce the cost of the project by increasing ROI and reducing the final project cost. They act as bridge between stakeholders and the project teams. They improve products, process and software by their data analysis skills.
Business Analyst requires you to have Oral and written communication skills, Analytical thinking and problem solving, Requirements engineering, detailed orientation and willing to delivery highest level of accuracy, stakeholder analysis, Costs benefit analysis etc, to name a few. If you think you have those skills and want to be a Business Analyst, there are many Online Business Analyst Courses you can undertake. Here are some reasons why company needs a Business Analyst :
Increased Return On Investment :
The main focus of any business is on the ROI. Increased ROI is directly proportional to the efficiency of the Investment. This depends the effective solution.
ROI = Benefit of Investment / Cost the Investment.
Business Analyst can influence both this factors. The BA can reduce the cost of implementation and increase the profit on the investment, thus leading to increased ROI. The Business Analyst finds the most cost effective solution for the execution of the project. At a very initial stage BA will find out what the company needs, they will find the way to implement and incorporate those changes and make changes needed to fit the needs. A Business Analyst is a bridge between the initial abstract idea and the business capabilities; thus incorporating the valuable changes and optimization of the processes.
Successful Execution of the Projects:
A thorough work done by Business Analyst at the initial stage of the project prevents project from failing and plays the vital role in the successful completion of the project. A project manager can verify if the team is on the right track while a Business Analyst is there to setup that right track or the blueprint of the project. BA can identify what is needed to achieve the final objective.
Lower the cost of the Project
A strong work done by BA ensures less or almost no rework is needed on the project, thus saving the billing time of the teams and reducing the overall budget of the project. The task of BA is to prevent underutilized functionality. Business Analyst adds more precision to the project.
Bridge between Stakeholders and the Company Team
A huge amount of time is wasted in rework of the project, a proper collaboration with the stakeholder and the internal company team working on the project ensures there is no misinterpretation and miscommunication thus preventing any rework. The accurate estimate is generated by the Analyst before the team begins with the execution of the work. The initial requirement document presented by the BA is the actual live schedule and only need some minor tweaks occasionally. BA provides with the detailed and the accurate estimates, giving more accuracy to the project.
The bottom line is Business Analyst is the important player in any organization. You must hire a BA for cost effective and time effective implementation of your projects. Once you hire a Business Analyst you will see the significant improvement in the performance of the company.
