Business Analytics is the process of using statistics and statistical methods and technologies to create data sets and analyse data and then interpreting the data set with a very specific purpose in mind, whether that be to solve a problem for an organization or help informs a company's future business decisions.
Business analysts work within an organisation, helping to manage, change and plan for the future in line with the goals of the business. This could be for one specific project, or as a permanent feature of the organisation.
A business analyst may also be known as a business architect, a business systems analyst, an enterprise analyst, a management consultant, a process analyst, a product manager, a requirements engineer or a systems analyst.
Universities and colleges in Ireland are offering Business Analytics courses in the following subject areas:
There are many Actuarial Science courses that take place over 1 year to 4 years depending on the course and modules selected. There are also part-time courses and night courses available so you can be sure to fit in your studies no matter what your schedule is like.
Courses will cover theory work through lectures, assignments, tutorials and taught modules. Assessments will take place on a continuous basis with written examinations and practical assignments combined in order to achieve a qualification.
You could also consider work experience or voluntary work with small enterprises to help improve a particular function of their organisation. This route might have a charitable focus. You could also contact organisations directly to enquire about work shadowing, showing an enthusiasm for this area of work and for their business sector.
Work Experience will not only give you the opportunity to obtain a deeper knowledge and understanding of the industry, it will also give you a chance to do some essential networking with other industry professionals and gain valuable contacts for the future
After completing a course in Business Analytics you will be able to get started in a career that uses specific knowledge of business analysis and statistics.
Business analysis exists in almost every sector, from not-for-profit organisations to retail and financial services. The role is largely office-based but will require travel to meet different internal and external stakeholders.
Business analysts are needed in the public and private sector, large multi-national companies and smaller independent enterprises. There is scope to work in this field whatever your sector interest may be.
Working hours will depend on whether you are employed by a company with set business hours or if you are contracted to various facilities or companies. The hours are usually full time, Monday to Friday, or for contract work you may work longer hours during the week and sometimes weekends in order to complete project-based work within a specific timeframe. You will need a flexible approach to working extra hours when the need arises.
After completing a course in Business Analytics you may choose to pursue further study in a specialist field to increase your knowledge base and skillset. Postgraduate study can also be used as a means to change career focus or to gain professional qualifications required to practise in certain career areas such as change management, data analytics, communication, information systems or project management.
What skills could be helpful for a career in Business Analytics?
Excellent analytical skills, an informed, evidence-based approach and a strong interest in business and business development are very key skills for this field.
Some other important skills for a career in Business Analytics include excellent communication skills, with the ability to talk and present to a range of audiences, sometimes acting as a translator between parties; the capacity to motivate others and lead change, the ability to work under pressure on multiple projects within your project timeframes and a passion for creating solutions with a positive attitude to change.
Are there different types of analytics?
There are three types of analytics that businesses use to drive their decision making; descriptive analytics, which tell us what has already happened; predictive analytics, which shows us what could happen, and finally, prescriptive analytics, which inform us what should happen in the future.
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