Business Analyst Salary Helsinki – In the US News & World Report 2022 Best Jobs in America report, three of the top 10 business jobs were of an analytical nature: market research analyst (#4), operations research analyst (#5), and management analyst (#6) . The role of the statistician who is closely related to numbers came in at #3. On the overall list of the 100 Best Jobs, data scientist was ranked #6 and statistician #8.
Clearly, our increased reliance on data has created a demand for data security professionals in corporations, government agencies, non-profits, and even small businesses. The two roles employers are showing the most need for are business analysts and data analysts.
Business Analyst Salary Helsinki
The jobs of business analyst and data analyst have many similarities and, in fact, in some organizations, their roles and responsibilities may overlap. Both professions use data sets to help tell a company’s story – or a chapter of that story – to make informed decisions.
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If we look more closely at these two analyst roles we can find out the difference between business careers and data analysts.
The International Institute for Business Analysis defines business analysis as “the practice of enabling change in an organizational context by defining needs and proposing solutions that deliver value to stakeholders.”
Comparing these two roles, you could say that the business analyst looks at the bigger picture of an organization’s financial and operational performance. Their goal may be to use internal data and other sources to help company leaders make strategic business decisions.
For example, a business analyst might look at a company’s processes and workflows to find bottlenecks and other inefficiencies. Then, they could make a recommendation for new project management software or invest in a more powerful internal technology solution.
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A business or IT-related bachelor’s degree is often the minimum requirement for entry-level business analyst positions. For specialized or senior positions – or to manage other analysts – professional experience and, sometimes, higher education are required. Additional education may come through a master’s degree, a graduate certificate in business analysis, or other professional credentials.
Apart from formal education, employers will look for a combination of hard and soft skills, including the ability to organize and interpret data and communicate those results effectively to others within an organization. Additionally, strong Microsoft Excel skills help you navigate your way around PowerPoint (or other data visualization and presentation tools).
Finally, since business analysts look at the big picture, a holistic understanding of their organization and a deep familiarity with their industry is also essential for this role.
While business analysts use their data to make decisions, data analysts focus primarily on the data itself. According to Talend’s data insight platform, data analysis is “the process of gathering insights from data that is extracted, transformed, and centralized to discover hidden patterns, relationships, trends, correlations, and anomalies, or to develop a theory or hypothesis to validate.”
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Data analysts collect, organize, manage, and examine various types of raw data for various purposes, usually with the ultimate goal of sharing meaningful insights from that data with the appropriate parties. To do this, they will use a range of tools and techniques to do their work, including data mining, machine learning, and predictive analytics.
You’ll find data analysts working in a range of departments within companies, from sales and marketing to human resources and logistics.
Educational background often differs significantly between business analysts and data analysts. As with business analysts, most employers prefer to hire data analysts with at least a bachelor’s degree. However, rather than business or management, data analysts have often studied mathematics, data science, computer science, statistics, or a related field.
Beyond education, valuable skills for data analysts include programming experience, advanced knowledge of Microsoft Excel, familiarity with machine learning and data mining, and an understanding of emerging industry tools and technologies. Equally important is the ability to multitask, work in an agile environment, and communicate well verbally and in writing.
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Like many career fields, job titles vary from company to company and industry to industry. In addition, many other factors come into play when it comes to salaries, such as a person’s specific education level and previous professional experience, as well as location, industry, and company size.
The US Department of Labor’s Bureau of Labor Statistics (BLS) uses the term “management analysts” to track occupational data about business analysts. It also tracks other roles that may fall under the umbrella of business analyst, such as “operations research analyst.”
According to the BLS, the median annual salary for management analysts in 2020 was $87,660, and demand is expected to increase 14% through 2030. Additionally, the BLS breaks down business analyst salary information by according to some industry bests:
The BLS reports that the median annual salary for operations research analysts in 2020 was $86,200, with an expected increase in demand of 25% until 2030, which is much faster than the average growth rate.
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The BLS does not track occupational trends for the specific position of “data analyst.” However, it shares information about jobs that fall under the broader category of “data scientists and other mathematical science careers”. According to that report, the average annual salary for related roles is $98,230, with an estimated growth rate of 31% by 2030.
Career websites, such as Salary.com and Indeed, use their internal aggregate data to share insights for more specific jobs. For example, Salary.com reports in February 2022 that the base salary range for data analysts in the US is $69,946 to $88,877.
In today’s data-driven world, opportunities for business analysts will only continue to grow. If you’re looking to move into this exciting field, a graduate certificate program can be a great way to improve skills. Completing a certification is less of an investment – in time and money – than earning a master’s degree or a second bachelor’s degree. In addition, you will focus entirely on matters related to your career of interest.
Champlain College’s 100% business analysis graduate certificate was designed with career mobility in mind. Led by practitioners in the field, the program includes industry-specific classes such as:
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The graduate certificate program at Champlain includes a mix of theory and hands-on learning, meaning you’ll gain hands-on experience organizing and examining data, creating reporting tools, and presenting your findings in meaningful, digestible ways. And because it was also created with working professionals in mind, this complete business analysis program allows you to learn whenever, wherever you want.
To learn more about a graduate certificate in business analytics from Champlain College, visit our program page.
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