In our last post we had written why future in business analytics is hot!
Now if you are considering a career in business analytics then the natural next question is- what are the possible roles in business analytics? This question has different answers depending on your work experience but still, the framework remains the same
Pure-analytics organization vs Analytics as a support function
Before we get into the roles, the first differentiation is type of organization.
Pure analytics organizations
Pure analytics organizations are where the primary function of organization or company is related to Analytics. Think of companies such as Mu Sigma, Absolutdata, ZS Associates. These companies provide analytics related professional services to their clients. Analytics is their primary product. These organizations will have various analytics roles at different levels. They are also more structured and specific w.r.t their job requirements. Roles typical to professional services industry will be available in these organizations such as analyst, lead, project manager, engagement manager.
Analytics as a support function
Majority of the organizations use analytics as a support function to sell their primary product or services. Take examples such as Wal-Mart, American Express, Vodafone, Capital One, Amazon. Analytics has become core part of their sales, marketing, operations functions. Many banks have created their analytics organizations in India and you would expect them to work similar to pure analytics organizations. The skills required for these organizations would not be different from pure analytics organizations but their career path can be different.
Common Roles in Analytics
Some of the most common roles for analytics are:
• Professional Services (Analyst/ Engagement Managers/Consultant) – Pure analytics companies offer such roles at different levels.
• Business Analyst – This is a common title across companies. Business Analyst in different companies can mean different things so it’s important to understand the description. Mostly, Business Analysts will be using data to solve business problems. They will be using statistical techniques, tools and framework wherever possible.
• Marketing Analyst – Responsible for analyzing the effectiveness of marketing campaigns or generating data that can be used as part of the sales and marketing process. Ultimately, their goal is to help marketing team improve their campaigns. Any company with good digital marketing/ marketing budget will have this role
• Financial Analyst – This role is available in finance function of various companies. Understanding of financial concept and financial modelling skills are also important for these roles. Some of these analysts also work in capital markets where you will see roles such as Quantitative analyst.
• Operations Analyst – Responsible for analyzing operational processes, generating reports, or supporting the operations by performing manual tasks.
• Reporting Analyst - Responsible for designing new reports, creating reports, and running existing reports. Such roles are available across companies but can have different titles such as MIS Analyst. The responsibilities remain the same
Finally, the title isn’t really important. The required skills aren’t that different. All these roles demand business analytics skills combined by some domain experience. Hence, it’s important to prepare yourself with the right analytics skills before you start exploring.