As outlined in the International Institute of Business Analysis's "Guide to the Business Analysis Body of Knowledge," business analytics is integral to dozens of corporate jobs, including business architects, business systems analysts, process analysts, and requirements engineers.
While a bachelor's degree may be sufficient for some entry-level business analyst employment, most employers prefer applicants with master's degrees in business administration or a closely related field, such as business analytics.
Business analytics professionals are increasingly needed as businesses and industries rely on data analytics to acquire a competitive edge.
Given the constant advancements in technology and the growing significance of data-driven decision-making, professionals that regularly upgrade their skills and keep up with current trends are well-positioned for job success. Due to the strong demand and lack of trained people, business analytics specialists are frequently paid excellent pay.
Graduates must embrace lifelong learning because business analytics is a dynamic field to stay relevant. New technologies and techniques are quickly transforming the world of business analytics.
The job market forecast for business analytics graduates in the UK is generally very favourable.
Industries Hiring Graduates
- Business Intelligence
One of the top three sectors currently hiring data analysts is business intelligence. A short search on Indeed reveals that the business intelligence industry is home to roughly 20% of the data analytics jobs currently available worldwide.
The ability to work accurately with financial predictions and reporting is a requirement for business analysts in finance. Data analytics is used by financial institutions like investment banks, venture capital firms, and consumer banks to assess risk, guide investment choices, identify patterns, and make predictions.
Healthcare, a sector primarily relying on paper data systems for decades, increasingly uses data analytics. Healthcare business analytics specialists focus on initiatives involving patient data analysis, disease prediction modelling, healthcare resource optimization, and healthcare quality enhancement.
Business analytics experts are hired by consulting organizations from various industries to give their clients data-driven insights. These experts work on multiple tasks, including process optimization, strategic planning, market research, and competition analysis.
Manufacturers and supply chain organizations use business analytics to optimize manufacturing processes. A business analyst's responsibilities in the manufacturing sector include planning and implementing solutions for problems with resources, labour, and consumer concerns.
- IT industry
The technology industry largely relies on business analytics for cybersecurity, user behaviour analysis, customer analytics, and product creation. They can clearly understand what kinds of IT services and products clients need and how to provide them.
Other industries are -
- Pharmaceutical industry
- Retail and E-commerce
Roles and Responsibilities
A career in Business Analytics in the UK offers several opportunities. The job might be in entertainment, sports, education, banking, management, or any other commercial or public sector. Graduates in Business Analytics are likely to get a professional offer within three months after earning a master's degree due to rising demand. Graduates get compensated more as their experience and talents grow. Employment opportunities are also likely to expand in the future years.
A Business Analyst will be an entry-level employee in the UK. The initial pay is about 45,000 GBP. After 1-3 years of work experience, graduates can apply for level 1 Domain Business Analyst employment. Senior Business Analyst or Chief Technology Officer requires five years of experience. Professionals might also go from one business to another depending on better payment alternatives.
Roles and Responsibilities
- Data Scientist
Data scientists collect, analyze, and interpret large and complex data sets using statistical techniques and advanced algorithms to extract insights, identify patterns, and make predictions that drive data-driven decision-making and solve business problems.
Salary - GBP 50,432/year
- Business Intelligence Analyst
A business intelligence Analyst collects and analyses data from a variety of sources in order to develop visualisations, reports, and dashboards that assist decision-makers in understanding company performance. They are responsible for ensuring data veracity, collaborating with stakeholders, and presenting data-driven insights for strategic decision-making.
Salary - GBP 42,540/year
- Data Analyst
A data analyst gathers, purifies, and examines data to gain knowledge and assist decision-making. They employ statistical tools and data visualization approaches to find trends, patterns, and correlations in the data.
Salary - GBP 42,840/year
- Operations Research Analyst
An operations research analyst uses cutting-edge analytical techniques and mathematical modeling to assist businesses in solving complicated issues and improving decisions.
Salary - GBP 40,637/year
- Healthcare Analyst
A Healthcare Analyst uses data to enhance patient care, results, and operational efficiency. They gather and analyse healthcare data, evaluate performance, and contribute to quality improvement initiatives. Healthcare analysts employ data-driven insights to support decision-making and improve healthcare practises.
Salary - GBP 39,500/year
- Cyber Security Engineer
A Cyber Security Engineer at a firm is in charge of developing, implementing, and maintaining security measures to safeguard the company's information systems and data against cyber threats. They assess security vulnerabilities, respond to occurrences, and guarantee the organization's digital assets are safe and secure.
Salary - GBP 50,356/year
- Project Manager
Analytics initiatives are managed from beginning to end by a project manager. They organize the team, plan the project, control risks, interact with stakeholders, and ensure it stays on schedule and within budget.
Salary - GBP 56,467/year
- Market Research Analyst
A Market Research Analyst collects and analyzes data on market trends, consumer behavior, and competitor activities to provide insights and support decision-making for businesses and organizations.
Salary - GBP 31,978/year
- Business Consultant
A Business Consultant provides expert advice and recommendations to clients on improving business strategies, operations, and performance. They analyze challenges, propose solutions, and assist in implementing changes to achieve business objectives.
Salary - GBP 54,490/year