Basics of Career Business Analytics Career Options

Different Types of Analyst Roles

Who is an Analyst ?

An analyst is an individual who performs analysis of a topic. He gathers, interprets, and uses complex data to develop actionable steps that will improve processes and optimize results. Day-to-day, he or she assesses company and client needs, receives robust information, and analyzes it, looking for telltale trends or areas for improvement.

Educational Qualification:

Having an Engineering background is the most important criteria for most of the companies. In certain cases, companies prefer students with MBA degree. Therefore if you are from a non-engineering background then you should go for MBA if you want to get into this profile.

Different Analyst Domains

1. Data Analyst

A data analyst is someone who manipulates and studies data and communicates findings with their organization to find opportunities and improvements. They hold the keys to data-driven business decisions, making it an extremely in-demand role. The purpose of data analysis is typically to provide a data-driven foundation for decision-making. Data analysts look for patterns or trends and use these to make projections. They may also provide easy-to-read reports that simplify data for companies.

Essential Skills Required :

  • Structured Query Language (SQL)
  • Microsoft Excel
  • Critical Thinking
  • R or Python-Statistical Programming
  • Data Visualization
  • Machine Learning

2. Business Analyst

A business analyst (BA) is a person who analyzes an organization or business domain (real or hypothetical) and documents its business, processes, or systems, assessing the business model or its integration with technology. They study the current state of a business and find areas that could improve. Areas they may study include customer needs, technology requirements and financial data. After conducting their analysis, business analysts present their conclusions to managers to help them implement suggested changes.

Essential Skills Required :

  • Commercial awareness
  • Communication and interpersonal skills
  • Time management and organizational skills
  • Problem-solving skills
  • Analytical skills
  • Leadership and management skills

3. Financial Analyst

A financial analyst is a professional, undertaking financial analysis for external or internal clients as a core feature of the job. The role may specifically be titled securities analyst, research analyst, equity analyst, investment analyst, or ratings analyst. They also explore investment opportunities and inform their clients of the risks and benefits involved with certain decisions. Financial analysts work closely with accountants and accounting teams to ensure the accuracy of all financial reports. They assess the performance of stocks, bonds, and other types of investments. Thus, they provide guidance to businesses and individuals in making investment decisions.

Essential Skills Required :

  • Research Skills
  • Analytical Skills
  • Communication and Writing Skills
  • Mathematical Skills
  • Decision making Skills
  • Attention to details

4. Operations Analyst

An Operations Analyst reviews a company’s policies, procedures and functions to find areas of improvement. Their main duties include reviewing company data, building reports based on these findings and recommending programs to improve the company’s performance metrics. They identifies problems related to business operations and helps create solutions to improve communication, data management and lead generation. They collect data from certain departments, such as sales and marketing and create reports for company decision-makers.

Essential Skills Required :

  • Strong business acumen
  • Excellent analytical skills
  • High proficiency in Microsoft Office applications
  • Must be able to work with minimal supervision
  • Good interpersonal skills to work with different management levels
  • Ability to sit in front of a computer for many hours a day

5. Technical Analyst

A technical analyst is responsible for communicating technical knowledge within a business. They interview people within a business to better understand project needs and communicate technical requirements to business management. Technical analysts ensure management and technical teams have the same understanding of various requirements. They administer all IT systems and recommend efficient modifications to systems to improve efficiency and reduce cost of all operations and determine appropriate procedures for all IT technologies and assist in all equipment configurations.

Essential skills required :

  • Programming Languages
  • Data Visualization
  • Database Proficiency
  • Software Development

6. Economic Analyst

An economic analyst discerns potential outcomes of economic or financial decisions made by corporate executives or government legislators. In this profession, you’ll generally perform research and gather data for microeconomic analysis, usually about a specific industry. An economic analyst works with large data sets to create economic forecasting models for private organizations or the government. They research the current economy, along with past trends, to determine what the economy will look like in the short and long-term future. Companies hire economic analysts to help them better predict future events so they can make financial decisions.

Essential Skills Required :

  • SQL
  • Data Analysis,
  • SAS (Statistical Analysis System)
  • Financial Statements Analysis
  • Microsoft Powerpoint
  • Commercial and cultural awareness


7. Project Analyst

A project analyst is part of a project team who helps the project manager to plan, organize and execute the project in an effective manner by providing critical data support. They will support in project evaluation and scoping through the preparation and review of cost schedules, budgets and forecast returns. They help plan and execute projects through processes such as budget analysis and forecasting. Project analysts also track team members’ progress, gather market data and present new techniques or methods to improve efficiency.

Essential Skills Required :

  • Strong analytical skills.
  • Proficiency in computer technology and Microsoft office application.
  • Exceptional research and reporting skills
  • Strong time management skills
  • Working knowledge of applicable laws and standards in the industry

8. Tax Analyst

Tax analysts help companies and high-wealth individuals file tax returns, ensuring that they are in compliance with local, state, and federal laws. This includes collecting and preparing tax data, reviewing returns, performing tax research, and maintaining records. They find ways to reduce tax payments and ensure all tax laws are being adhered to. Tax analysts are highly detail-oriented professionals who use a strong grasp of mathematics and knows how to manage all tax paperwork for their company or client. Employers and individuals who hire tax analysts look for professionals who have all the essential skills such as computer skills, mathematics, analytical thinking, time management, attention to details and communication skills.

Essential Skills Required :

  • Attention to detail
  • knowledge of tax laws
  • Numeracy
  • Interpersonal communication skills
  • Knowledge of accounting and bookkeeping procedures
  • Commercial awareness

9. Geospatial Analyst

Geospatial analyst gathers, manipulates and displays geographic information system (GIS) data and images including GPS and satellite photographs. They are used to create geographic models and data visualizations for more accurate modeling and predictions of trends. They work in a variety of industries, including urban planning, military intelligence and mining. The information geospatial analysts provide allows professionals to know where to start construction projects and alerts them to the challenges that a certain location might provide during construction. They can also use their services during natural disasters, helping relief efforts by studying possible transportation routes.

Essential Skills Required :

  • Basic Programming Knowledge.
  • Involvement in Professional Organizations
  • Ability to read graphs and maps
  • Experience with mapping tools such as vector and raster data, and spatial modeling
  • Software-Specific Knowledge

10. Research Analyst

A research analyst researches and analyses data related to the market, finance, accounting, customers, etc., and presents it to their organization. In addition to having excellent financial acumen, a research analyst must also possess strong analytical skills. The reports and insights offered by a research analyst are used for making better business decisions and strategies. A research analyst also helps a business/organization to understand customers’ demands, and moulds the business accordingly. Various types of research analysts are market research analyst, operations research analyst, equity research analyst, and economic research analyst.

Essential Skills Required :

  • Good with numbers
  • Data Management
  • Critical Thinking
  • High attention to detail
  • Data Visualization
  • Ability to distill large amounts of information into specific takeaways


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