6 In-Demand Business Analyst Career Paths in Malaysia

6 In-Demand Business Analyst Career Paths in Malaysia

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Business analysts play an important part in helping companies be the best they can be. In this age of pandemics, political uncertainty, intense competition, and rapidly advancing technology, companies that want to stay ahead turn to business analysts. Do you want to know how to build a Business Analyst Career Path or in other words the right career path for a business analyst?

Every advantage counts, and a good business analyst could mean the difference between excellence and mediocrity.

Let’s begin by exploring what a business analyst is, then working our way up to how to be one!

What is a Business Analyst?

Business analysts study a company’s processes, operating procedures, and large data sets to find ways to enhance an organization’s operational efficiency while achieving better performance. Although business analysts are also known as management analysts, please don’t confuse them with data analysts.

Business analysts work with management to reduce costs, eliminate, or reduce inefficiencies, and boost the company’s competitiveness in the modern business world. They use their analytical skills to understand and apply data-focused strategies best suited to increase a company’s bottom line.

Is Business Analyst a Good Career?

To best answer that question, let’s look at what the position entails to ascertain the best business analyst career path. A business analyst:

  • Works with the company to identify improvement opportunities in business operations and processes
  • Helps with the design or modification of existing business systems and IT systems
  • Interacts with business stakeholders and subject matter experts (SMEs) to better understand their needs and problems
  • Gathers, documents, and analyzes the company’s needs and requirements
  • Resolves business problems and designs technical solutions
  • Documents the functional and technical designs of the company’ systems
  • Collaborates with system architects and developers to make sure that the system is properly implemented
  • Creates system testing and creating system documentation and user manuals

We live, work, and play in a society where data is everywhere. Large data sets contain information essential for making reliable, data-driven business decisions. Companies that want that extra competitive advantage need someone to collect, analyze, and apply data sets in constructive ways.

That is what the business analyst does. The business analyst functions as an in-house liaison that collects, manages and distributes relevant data between departments.

We find business analysts in all kinds of industries, including businesses of all types, government agencies, and nonprofits. While any industry can benefit from business analyst expertise, management consulting firms and IT-related firms make up the largest share. Companies that specialize in accounting, finance, investment banking, and market research also offer significant opportunities for business analysts.

Summing it up, data is the currency the commercial sector uses to buy success. Business analysts work with data and the in-house departments, making intelligent, informed, data-driven decisions that will boost profits and strengthen the company. Any business that wants to succeed today should either hire a third-party business analyst as a consultant or recruit one for an in-house position.

6 Best Business Analyst Career Paths

Before you get moving on your business analyst career path, you need to do the prep work. You need either a good business background or solid knowledge of information technology. Most entry-level business analyst positions require a minimum of a bachelor’s degree, usually in accounting, finance, management, or IT.

These are the 6 most in-demand business analyst career paths:

  1. Business Analyst Manager

These managers recruit and hire business analyst team members, oversee new hire training, define best practices, and execute organizational goals.

2. Data Business Analyst

These analysts work with large data sets to identify trends, develop charts, and create visual presentations to aid in business-making decisions.

3. Data Analysis Scientist

This career path is extremely challenging since data analyst scientists must extract meaning from collected data, interpret it, and use it to create actionable insights. You need to be familiar with machine learning and statistics to be effective in this position.

4. Information Security Analyst

Cybercrime is a hot topic, and cyber security professionals are in huge demand. Information security analysts protect organizations from cybercriminals by interpreting security data and monitoring IT networks and systems. If you’re interested in ethical hacking, you’ll like this position, as it usually entails finding weaknesses in systems and eliminating them.

5. IT Business Analyst

This role requires working on multiple projects and operating systems while simultaneously developing more substantial business process roles. This career is a good fit for people who love crunching numbers.

6. Quantitative Analyst

This specialist creates, implements, and presents mathematical models supporting financial decisions that affect risk management, investments, and pricing structures.

The journey on your preferred business analyst career path will be smoother if you have the following qualities and skills:

  • Being a good listener and communicator
  • Willing to consider change
  • Being able to multitask effectively
  • Knowing how to prioritize, based on multiple stakeholders’ needs
  • Being a good negotiator who can get timely buy-ins on crucial decisions from stakeholders
  • Identifying opportunities to improves processes which could lead to efficiency and output improvements
  • Working as part of a team, including collaborating with individuals and groups outside of the team

How Would You Like to Become a Business Analyst?

If all this talk about business analysis has you intrigued about pursuing it as a career, you can start to search the jobs on Jobstore.com today.

According to our study, the average annual salary for business analysts is RM 102,000, with an upper range hitting RM180,000 in Malaysia.

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