Differences & Career Paths Explained
Who is a Data Analyst?
On the other hand, a data analyst is primarily responsible for collecting, analysing, and interpreting large datasets to provide insights that can inform business decisions. This involves using statistical analysis and data visualisation tools to identify patterns and trends, and then presenting the findings to stakeholders in a clear and concise manner. Data analysts must be proficient in data management tools and programming languages such as SQL, Python, and R to effectively manipulate and analyse large datasets.
Who is a Business Analyst?
A business analyst is responsible for understanding the needs of the organisation and identifying solutions to meet those needs. This involves working with stakeholders to gather requirements, analysing business processes to identify inefficiencies, and developing strategies to improve business performance. Business analysts also need to have a deep understanding of the organisation's goals, market trends, and competitive landscape to ensure that their recommendations align with the overall business strategy.
While there is some overlap between the two roles, data analysts typically focus on technical data analysis skills, whereas business analysts have a broader set of responsibilities that include understanding the business context, gathering requirements, and developing strategic recommendations.
Research proves that:
About less than 0.5% of all data is analyzed and used
By 2025, the data science analytics sector in India alone is estimated to grow by 7x to reach $16 billion
Currently, the US leads the data science job market, creating a demand for 200,000 data scientists in the next year.
Every second, 70,000 search queries are performed on Google, and 1.2 trillion searches are done each year.
The rise of big data has increased the demand for data scientists all over the world. Because of the increased breadth and depth of data being analysed and used, their role has emerged in every industry. Furthermore, emerging trends in Artificial Intelligence are increasing demand for data analytics and science professionals.
Suggested top business trends by LITT for the coming years:
Memory servers
Blockchain
Natural language processing/conversational analytics
Continuous intelligence
Data fabric
Explainable Artificial Intelligence
Augmented Artificial Intelligence
Skills Required to Become a Successful Data Analyst
Understanding Database Concepts
Modeling and E-R Diagram
Normalization
Introduction to SQL
DDL and DML Statements
Working with Queries (DQL)
Aggregate Functions
Joins and Set Operations
Working with Constraints
Implementing Views
Data Control language (DCL)
What Does a Data Analyst Salary Look Like?
A data analyst's salary can vary depending on factors such as location, industry, experience, and skills. According to Glassdoor, the average annual base pay for a data analyst in the United States is around $67,000. Entry-level data analysts can expect to earn $50,000 to $60,000 per year, with more experience and specialised skills earning $100,000 or more.
Salaries can vary greatly depending on the industry, with some paying significantly more than others (such as technology and finance). Salary is also affected by an individual's experience, skills, and location.
Overall, data analytics is a growing field with high job growth and earnings potential.
Skills Required to Become a Successful Business Analyst
The Role of the Business Analyst, in an Agile World
Agile Fundamentals and the Agile BA
The Agile Business Case
Stakeholders in the Agile Project
Requirements and User Stories
Prioritisation, Workshops and Modelling
Time boxing and Iterative Development
Requirements Planning and Estimating
The Requirements Lifecycle in an Agile Project
What Does a Business Analyst Salary Look Like?
A business analyst's salary can vary depending on factors such as location, industry, experience, and skills. However, the average base pay for a business analyst in the United States is around $75,000 per year, according to Glassdoor. Entry-level business analysts can expect to earn between $55,000 and $65,000 per year, with more experience and specialised skills earning up to $100,000 per year.
Business analysts may receive bonuses, stock options, and other benefits in addition to their base salary. It's also worth noting that salaries can vary greatly depending on the industry, with some (such as technology and finance) paying significantly more than others.
Business Analyst vs. Data Analyst: Roles
Data analysis involves both business analysts and data analysts. Using data, business analysts can make strategic business decisions. A data analyst gathers data, manipulates it, extracts useful information from it, interprets it, and converts it into understandable information.
A business analyst's job is to help facilitate a solution when a company needs to solve a current or future problem.
Business Analyst vs. Data Analyst: Responsibilities They work with:
IT departments
Data management teams
Data scientists
Data analysts' responsibilities include:
Deriving insights from data using statistical techniques
Database management
Optimizing statistical efficiency and quality
Acquiring data from primary or secondary sources
Identifying, analyzing, and understanding trends or patterns in complex data sets
Filtering data and locating and correcting code issues
Working with management to prioritize business needs
Defining process improvement opportunities
Business analyst responsibilities depend on the industry, but the main objective of their role is analysing and deriving insights from data to make informed business decisions.
Business analysts' responsibilities include:
Analyzing large amounts of complex data
Identifying areas that need improvement
Addressing business needs
Working with internal teams and 3rd parties to escalate and resolve issues
Analyzing data to evaluate the emerging trends
Recommending possible solutions
Conclusion
We hope this article was helpful in understanding the differences between data analysts and business analysts. Because both fields primarily deal with data, you must accurately assess your skill set as well as the subjective pros and cons of each profession before deciding on one. However, because the two have some similarities, switching from one designation to the other at any stage is not difficult.
The Business Analysis Certification Program from Lean Icon Technology will help you gain expertise in the most recent business analytics tools and techniques, such as planning and monitoring, data analysis and statistics, visualisations, Agile Scrum methodologies, and SQL databases. This course includes real-world case studies to ensure that you are market-ready.
In collaboration with SAFe, Lean Icon Technology's Data Analyst Course teaches you everything you need to know to start a career as a data analyst. The only prerequisites for the program are a basic understanding of math and a desire to succeed in one of today's hottest careers.
