Business analysis is a critical function within any organization that aims to improve efficiency, reduce costs and achieve strategic objectives. Business analysts are responsible for identifying problems, designing solutions, and implementing changes to business processes and systems. However, the field of business analysis is broad and multifaceted, with several different specializations available. This article aims to explore the various specializations within business analysis and provide an insight into how they differ from one another.
Business analysis specializations
Business analysis specializations can be categorized into the following:
- Strategic business analysis
- Tactical business analysis
- Operational business analysis
- Agile analysis
- Product ownership analysis
- Business data analytics
- Cybersecurity
Under each of these categories, various specializations exist.
Strategic business analysis
The business world is constantly evolving, and organizations must continually adjust their strategies and operations to stay competitive. Strategic business analysis involves analyzing the external environment and market conditions, developing long-term strategies, and helping organizations remain competitive in their industry. It requires a deep understanding of the organization’s current processes, identifying opportunities for improvement, and creating plans that will enable the organization to reach its goals.
Specializations under this category include the following.
Enterprise Architect
Every organization is composed of multiple systems, processes and data that must work together for the business to operate effectively. An enterprise architect develops an overarching design for how all these elements fit together. This requires a deep understanding of the organization’s goals, capabilities and limitations.
Strategic customer analyst
In this role, analysts help organizations understand their customer base to develop effective strategies for engaging with them. This involves analyzing customer data and developing insights that can be applied to marketing efforts, product development and other initiatives aimed at improving the customer experience.
Solutions Architect
Solutions architects are responsible for designing solutions that meet the organization’s needs. This involves researching, analyzing and recommending solutions that will enable the organization to achieve its desired outcomes. Solutions architects must consider both business and technical requirements when designing their solutions.
Merger and acquisitions architect
Mergers and acquisitions involve complex transactions that require specialized skills. Merger and acquisitions architects are responsible for analyzing the proposed transaction, assessing its financial viability, and making recommendations to ensure that the deal is successful. They must also be able to anticipate any potential problems during the transaction process.
Strategy analyst
These professionals are responsible for researching and analyzing the industry, competitors and market trends to gain insights. They then use these insights to develop strategies that will enable the organization to remain competitive and achieve its goals.
Head of strategy
The head of strategy is responsible for developing and implementing a comprehensive strategic plan for the organization. This involves analyzing current trends and understanding the organization’s capabilities in order to develop a plan that will ensure success. They must also be able to identify opportunities for improvement, provide guidance on how to capitalize on these opportunities, and manage the implementation of the strategic plan.
Business/technical architect
For organizations that use technology to support their operations, a business/technical architect is essential. These professionals are responsible for designing the overall architecture of the organization’s IT systems and processes. This requires an understanding of both business and technical requirements, as well as the ability to develop solutions that will enable the organization to meet its goals.
Corporate strategy analyst
Before an organization can develop a strategy, it must first understand the current state of its industry and market. A corporate strategy analyst is responsible for researching and analyzing these topics to gain insights that can be used to create effective strategies. They must also be able to identify opportunities for improvement and recommend changes that will enable the organization to stay competitive.
Tactical business analysis
Business analysts who specialize in tactics focus on the implementation and execution of strategies. They must be able to identify areas where improvement is needed, determine how to achieve those improvements, and develop plans for executing them. This requires a deep understanding of the organization’s goals and capabilities as well as an ability to analyze data. Specializations under this category include the following.
Auditor
These core professionals are responsible for ensuring the integrity of the organization’s financial activities. This involves analyzing data, evaluating procedures and controls, and conducting auditing tests to ensure compliance with regulations and industry standards. Auditors must also be able to identify areas where improvements need to be made that will minimize risk.
Machine learning analyst
Machine learning analysts use their understanding of data analytics and machine learning algorithms to develop predictive models and insights. They must be able to identify patterns in data, recognize trends, and analyze the performance of existing models. They also need to be able to design new models that will enable organizations to efficiently utilize their data.
Technical/functional analyst
Organizations that use complex systems need technical/functional analysts to ensure that the system meets its goals. These professionals are responsible for assessing the system’s capabilities and making recommendations for improvement. They must also be able to troubleshoot any issues with the system, develop solutions, and provide training to users on how to effectively utilize the system.
Business analysis lead
Coordination is essential for any successful project and the business analysis lead ensures that all activities are running smoothly. This involves managing teams, tracking progress and ensuring that deadlines are met. They must also be able to identify potential problems and develop solutions to address them.
Operational business analysis
Another core category of business analysis is operational business analysis. Roles under this category are related to the day-to-day operations of the organization. This includes managing processes, developing KPIs and metrics to measure performance, and identifying areas for improvement. Operational business analysts must also be able to develop plans for executing improvements and provide guidance on how best to utilize resources and maximize efficiency. Examples of specializations within this category include the following.
Operations Analyst
These professionals are responsible for analyzing data and metrics related to the organization’s operations. This involves understanding the organization’s processes, identifying areas where improvement is needed, and making recommendations for how to achieve those improvements.
Process analyst
These specialists assess existing business processes in order to identify problems or opportunities for improvement. They must be able to understand the interactions between different processes and develop strategies for minimizing waste and maximizing efficiency.
Change management analyst
These experts are responsible for managing organizational change. They must be able to assess current practices, identify areas for improvement, and develop plans for implementing those changes. This involves analyzing data, evaluating risks and communicating with stakeholders throughout the process.
Human resources manager
Organizations with large numbers of employees need human resources managers to ensure that staff are being managed effectively. These professionals are responsible for recruiting and onboarding new employees, overseeing employee performance, and developing strategies for retaining existing talent. They must also be able to analyze data in order to determine areas where improvements can be made.
Procurement and logistics manager
These professionals are responsible for overseeing the procurement and logistics operations of an organization. This involves managing supplier relationships, negotiating contracts, and ensuring that orders are delivered on time. They must also be able to identify areas where cost savings can be achieved and develop strategies to minimize risk.
Agile analysis
Agile analysis involves using agile methodology to manage projects. This involves breaking down tasks into smaller chunks, working collaboratively with stakeholders and team members, and continuously monitoring progress. Specializations under this category include the following.
User experience analyst
Also known as UX analysts, these professionals are responsible for optimizing the user experience. This involves understanding customer needs and preferences, identifying areas where improvements can be made, and working with stakeholders to develop solutions that meet those needs.
Agile project manager
These professionals are responsible for managing projects using agile methodology. This involves ensuring that tasks are completed on time, coordinating between team members and stakeholders, and providing guidance on best practices. Additionally, they must be able to develop strategies for dealing with changes in scope or timeline.
Product ownership analysis
The process of product development requires specialized skills in order to ensure success. Product ownership analysis involves understanding customer needs, developing strategies for meeting those needs, and overseeing the product development process from start to finish. This includes managing resources, negotiating with stakeholders, and ensuring that the final product meets expectations. Specializations under this category include the following.
Product Manager
These professionals are responsible for overseeing the entire product development process. This includes setting goals, defining requirements, developing strategies for meeting those requirements, and managing resources throughout the process. In addition, they must be able to identify areas where improvements can be made and make decisions on how to address them.
Portfolio manager
Portfolio managers are responsible for overseeing a portfolio of products. This involves analyzing data, developing strategies for optimizing the portfolio, and setting goals for each product in the portfolio. They identify areas where improvements can be made and develop plans to address those issues.
Product owner
Product owners are responsible for ensuring that the product meets customer expectations. This includes understanding customer needs, defining requirements and overseeing the development process. They must also be able to provide guidance on best practices and identify areas where improvements can be made.
Business data analytics
Data drives business decisions and, as such, having an understanding of it is essential. Business data analytics involves collecting, analyzing and interpreting data in order to make informed decisions. Specializations under this category include the following.
Business intelligence analyst
Business intelligence analysts are responsible for collecting, analyzing and interpreting data. This involves understanding customer needs, developing strategies for meeting those needs, and using data to make informed decisions. They must also be able to identify areas where improvements can be made and develop plans to address them.
Data scientist
Data scientists are responsible for understanding and interpreting data. This involves developing algorithms and models, analyzing data to identify patterns, and making predictions based on the data. They also need to be able to identify areas where improvements can be made and develop plans to address them.
Chief data officer
The use of organization-wide data has become increasingly important for businesses. Chief data officers are responsible for overseeing the use of data within an organization, ensuring that it is used in accordance with best practices. This includes formulating strategies for collecting, analyzing and interpreting data, developing policies and procedures related to data usage, and identifying areas where improvements can be made.
Functional analyst
Functional analysts are responsible for understanding how a business functions and providing analysis on how to improve it. This involves analyzing data, identifying areas where improvements can be made, and making recommendations on how to address those issues. They must also be able to provide guidance on best practices and develop strategies for dealing with changes in scope or timeline.
Chief data architect
These professionals are responsible for developing an organization’s data architecture. This involves understanding the business’s needs, designing data models, and creating strategies for maintaining and improving the architecture. Additionally, they identify areas where improvements can be made and develop plans to address them.
Business process engineer
Business process engineers are responsible for understanding how a business operates, identifying areas where improvements can be made, and developing strategies for meeting customer needs. This involves analyzing data, understanding customer needs, and creating models for measuring performance. They also develop plans for addressing areas where improvements can be made.
Cybersecurity
This category of business analysis focuses on understanding the threats posed by cyber-attacks and developing strategies for addressing them. Specializations under this category include the following.
Cybersecurity analyst
Understanding the threats posed by cyber-attacks is essential for any organization. Cybersecurity analysts are responsible for identifying potential threats, developing strategies for preventing and mitigating them, and overseeing the implementation of those strategies. This includes monitoring networks, responding to incidents and recommending improvements.
Security architect
Security architects are responsible for designing secure systems. This involves understanding the threats posed by cyber-attacks, developing strategies for addressing them, and ensuring that systems are designed with security in mind. Additionally, they must be able to identify areas where improvements can be made and develop plans to address those issues.
Cloud security architect
With the use of cloud computing becoming increasingly common, organizations need to ensure that their data is secure. Cloud security architects are responsible for understanding the threats posed by cyber-attacks and developing strategies for mitigating them. This includes understanding the architecture of cloud networks, designing systems with secure access controls in mind, and identifying areas where improvements can be made.
Data privacy officer
Data privacy is essential for any organization. Data privacy officers are responsible for understanding and addressing the threats posed by data breaches. This includes developing policies and procedures related to data usage, monitoring networks for potential threats, and responding to incidents in a timely manner.
How do specializations in business analysis differ?
With such a broad spectrum of specializations, there is a variety of differences between each one. Some of the ways that these specializations differ include:
- Educational requirements: Each specialization requires different educational qualifications and certifications.
- Skills: Different specializations require different sets of skills, such as understanding customer needs or developing algorithms and models.
- Responsibilities: The responsibilities associated with each specialization vary, ranging from overseeing the use of data within an organization to designing secure systems.
- Tools used: Each specialization requires the use of different tools and techniques in order to be successful.
Although all of these specializations fall within the field of business analysis, there are important distinctions between them. Understanding which specialization best suits your particular needs will ensure that you get the most out of your analysis efforts.
The trajectory of a career in business analysis
Careers in business analysis tend to be highly rewarding and offer a wide range of opportunities for growth and advancement. Many professionals start off as junior analysts, working their way up to positions such as senior analysts, managers or directors. As they gain experience and expertise, they can also pursue higher education, such as St. Bonaventure University’s SBU master business analytics online program. With the right skills, dedication and training, business analysts can have a rewarding and successful career in this field.
Demand for business analysts is expected to grow by 14% between 2020 and 2030, according to the US Bureau of Labor Statistics, making this an ideal field for those looking to start or advance their career. With an average salary of $82,850 for business analysts in the US, a career in this field can be lucrative and rewarding. As organizations continue to rely more and more on data, the demand for business analysts is only expected to increase, leading to new job opportunities in this field.
Overall, business analysis is a field with immense potential and room for growth. By understanding the various specializations available and their differences, as well as the career trajectory in this field, it can be easier to make an informed decision about which specialization is right for you. Pursuing the right education and certifications can also help to ensure that you are well-prepared for the challenges of this field.
