While looking at Business Analyst Jobs it’s important to remember to brush up on your industry, you are required to be familiar with various analytical tools that pertain to business analysis.
Business analysis is a process of understanding a business enterprise, identifying amazing opportunities, and problem areas.
Fundamentally, there are actually 3 types of business analysis:
● Operational Analysis – this involves studying operational systems with the aim of identifying opportunities for business improvement.
● Tactical Analysis − this involves knowledge of specific business analysis techniques to apply at the right time in the appropriate project.
● Strategic Analysis − Strategic analysis is the method or process of identifying business problems, devising business strategies, goals and objectives.
For each type of analysis, there is a set of tools that are used respectively.
Software Used by a Business Analyst
● Microsoft Visio: This is a software application that aids communication and can be used for presenting and capturing ideas to stakeholders. Microsoft Visio also can help you prepare UML diagrams such as use case, activity and sequence diagrams, create data models, prepare flow charts, create architecture diagrams, and others.
● Microsoft Word: This is another popular software used by a business analyst. It is a word processing tool that can be used for preparing documents. Microsoft Word allows users to set preferred fonts, embed external objects such as diagrams from Microsoft Visio or Excel worksheets.
● Microsoft Excel: This software is used for data analysis. If you want to create tables, create charts or graphs, examine data, sort and filter data, and do so much more in terms of data analysis, Microsoft Excel can fulfill that purpose. Microsoft Excel provides many built-in mathematical and financial functions that can aid analysis.
● Microsoft Powerpoint: This software is used by a business analyst for preparing and delivering presentations in a formal manner.
Business analyst tools can be grouped into segments like:
• Word processing tools
• Data analysis tools
• Presentation tools.
• Wireframing tools.
There are many Business analyst tools that can be classified into these segments. As earlier stated, tools like Visio, Excel, Powerpoint and Microsoft word are examples of tools that are used by a business analyst. These are not the only tools. Many other tools are being used by a business analyst to carry out specific tasks.
Other tools include:
● Lucid charts.
● Open Modelsphere.
● Jama, and many more.