The World of Analysts is undergoing rapid transformations. Just about 3 decades back, most of the computing data were captured by humans, which gave rise to database management systems. However, in the recent decade and into the foreseeable future, the internet and devices will be able to capture a significantly large amount of data compared to human beings, say searches made on search engines, data captured by autonomous vehicles, etc. As per a leading management consulting organization, Accenture, every day, the world produces 5 exabytes of data. That’s equivalent to 2.5 quintillion bytes, or 2.5 billion gigabytes. By 2025, we will be producing data at a rate of 463 exabytes per day. To put that into perspective: in 2009, the world’s entire digital storage capacity was ‘just’ 487 exabytes.
Data is essential for the senior leadership team in any organization to make effective decisions. Without the right data being made available at right time, most often senior leadership in organizations based decisions on their intuitions. Intuitions can be wrong, thus leading to a significant loss for the organization. With the right data being available at right time, organizations can make correct decisions and move away from error-prone intuition-based decision-making.
This Makes Data Analysis the #1 Skill To Master In 2022
For business analysts, understanding data has always been important. Knowledge of data analysis helps business analysts assist companies in understanding business problems, capturing required data, analyzing it effectively, and helping the business achieve its goals. With data analysis skills, business analysts become significantly more valuable to businesses and thus increasing their earning potential.
How Data is Impacting Today’s Business Analysts?
Data is changing the way organizations do business; moving decisions from mere intuition to decisions backed by solid data evidence. Data is changing the way business analysts do their jobs. With the exponential growth of data, business analysts are now required to:
- Assist business stakeholders to make data-driven decisions
- Analyze data to find problems or opportunities for business
- Present data in manner business stakeholders appreciate insights
- Summarize data to help customers avoid information overload
How To Build Data Analysis Skills?
Some business analysts are already highly skilled in data analysis. BAs who would like to learn more about data analysis should consider pursuing a business data analysis training and certification. This will improve their skills for employers and increase their employability.
The rise of data is opening up many new opportunities for business analysts. For example, BAs who can help stakeholders make sense of data, or explain “the story behind the numbers,” will experience an increase in their value to the stakeholders and organizations. The increased emphasis on data analysis promises to breathe new life into the business analyst job description, opening new avenues of responsibilities and corresponding increases in salaries.
One of the key reasons businesses value BAs who can support data analysis initiatives is because they understand stakeholder management and change management. With competent business analysts, an organization can significantly increase its competitive edge. Businesses are keen to learn about how to harness their data and use it effectively. Business analysts with knowledge of data analysis can surely be of great help.
Why Organizations Should Invest in Data Analysis Skills?
It makes immense sense for organizations to scale up their data analysis skills with help of programs like CBDA. Traditionally, not much training or certification was focused on data analysis. Fortunately, today, organizations such as The International Institute of Business Analysis (IIBA) have developed guidebooks and certification programs on data analysis. The adaptive US, a premier IIBA Endorsed Education Provider provides study guides, on-demand courses, and live virtual and in-person training on data analysis.
A Business Data Analysis Certification Improves your Data Analysis Skills
Business analysts’ knowledge of data analysis should also grow with data growth. A business data analysis certification such as Certification in Business Data Analytics (CBDA) can assess business analysts’ data analysis skills to employers and increase their professional worth. Earning CBDA certification proves your passion and commitment to business data analysis. It also makes one ready to support data analysis initiatives.