Monday, November 27, 2000		Article

Analysts who mind others’ business
by Sumesh Raizada

IN earlier days, mode of trading was extremely simple. People used to engage in a barter system, where articles were exchanged and no monetary transaction was involved. However, as the requirements increased, the resources to meet them got reduced and people began to move to other places for conducting business. The manufacturing and commercial activities expanded and managers started getting trained in various disciplines to handle functions like purchase, production, marketing, administration and accounting.

Computer revolution has considerably helped them in redefining numerous management and business techniques. Several new disciplines have come up for carrying out the business and financial activities.

Business analysts are among new generation professionals who provide technical and managerial support on business activities related to some extent with financial aspects. These professionals participate in studying and designing computerised solutions to business related problems. They participate in the development and implementation of new products or services, projects or procedures in the organisation. Business analysts also assist in providing training to the staff during implementation of new business applications. They are involved in understanding various changes in government rules and regulations and their consequences on the business operations of the firm.

A business analyst assists the system manager in determining the software and hardware requirement of the organisation. A business analyst has a working knowledge of existing software that are in use in the organisation and acts as a buffer between the user of a particular software and the computer programmer. All demands made by various departments, whether production, materials or accounts for providing new or modified software, are first analysed by business analyst.

They perform cost benefit analysis to find out the financial aspects of introducing new or modified software and its overall impact on the productivity of the organisation. The analysts are required to analyse needs of a department and work procedure followed by them to give solution on increasing operational efficiency. They identify the factors that are critical for the growth of a business and work both independently as well as jointly.

They are required in almost every industry, whether it is telecommunication, banks, engineering, pharmaceutical or software. They are also employed in consultancy firms for providing business-related solution to the client firms. They work in close coordination with the concerned department and computer personnel for analysis, design and support of computer systems. They provide support to the computer staff during implementation of new work procedures in the office or shop floor and are involved in planning, testing and documentation of change in operational procedures.

In engineering project or manufacturing firms, business analysts are required to work in close coordination with marketing or design department, to set and establish the business goals. Their job includes designing and implementing the operating systems in the plant.

In banks, finance, investment or mutual fund companies, business analysts are required to upgrade accounting systems and also develop requirement list for new accounting systems. They study various business operations and costing systems. They interact with senior management and make presentation on user or customer-friendly accounting systems that are being developed or implemented.

They study several laws and regulations related to taxation, excise or other duties, and interpret them in context to the business. In some companies these professionals are also referred as financial analyst. They provide consultancy and demonstration on financial software. The companies usually prefer science or commerce graduates with MBA, chartered or cost accountancy and engineers, for the post of business analyst. However working knowledge of computers is essential. In banks, they are required to maintain project plan and build communication with other departments.

In market research firms, business analysts support research team by obtaining data, conducting surveys, developing program and database and analysing performance output. They prepare supportive material for legal license, forms, and applications. For the job, they should desirably be a graduate or postgraduate in statistics, economics, and business administration with experience in special application software.

Companies and institutions dealing in e-commerce or other Internet-related services, also employs business analyst. Here, these professionals study the effect of e-business on a particular industry, and develop strategies for its development in a company. They define functional and technical requirement for the portal company, design integration between portal and client systems, develops data mapping and transaction tools, determine e-commerce implementation process between buyer and sellers. In business colleges, they are responsible for managing and maintaining business faculty Web site, provide assistance to their colleagues and students in solving course related problems. Professionals who are certified by Microsoft or Sun in Internet-related technologies, are preferred in some of the companies.

In software companies, business analysts help their client in providing technology solutions; develop virtual business models and training modules. They must be aware of relevant business skills and procedures.

In pharmaceutical companies, they analyse competitor’s business, identify areas of strength and weaknesses of their company vis-a-vis competitor, formulate trend in the market and find out the customer key requirement.

The qualification or skills required for a business analyst may vary for different organisations, as per the area of operations. The fundamental of mathematical and statistical techniques should be clear to them, so that these may be utilised for analysis.

In short, just like any other computer profession, the task of business analyst is equally important, for the profitability of firm. They are required to identify the business opportunities, understand the requirement of clients and their business processes and then assist in providing cost-effective business solutions. Their designation may differ from industry to industry, but the work profile usually remains the same. The earnings are handsome and with experience of few years they can dictate the market. These professionals are in great demand in the USA, Canada, Australia and New Zealand.