Business analytics is a field of expertise used to help organizations solve real-world business problems. Ultimately, it guides businesses to make better decisions. People skilled in business analytics are highly impactful and beneficial to many companies.
If you’re interested in business analytics as a student, college graduate, or a young professional, this article is for you. Continue reading to learn about the highest-paying entry-level business analytics jobs, what business analysts do, and how to find these positions.
What Is Business Analytics, and Why Is It Important?
Business analytics is the process of collecting and analyzing large volumes of real-time data to solve business problems. The role of business analysts is important because, through their work, companies can make informed decisions more quickly and reduce the risk of business losses.
What Is the Job Outlook for Business Analysts?
According to the US Bureau of Labor Statistics (BLS), jobs for operations research analysts are expected to increase by 25 percent between 2020 and 2030. The job title operations research analyst is another name for a business analyst. The 14 percent growth rate is higher than the average growth across all other occupations.
Top Reasons to Pursue a Career in Business Analytics
- A career in business analytics allows you to build your skills in business analysis and project management, which are valuable to any company.
- Business analysts are always updated on the latest trends, which lets them have a first-mover advantage and makes them knowledgeable in various organizational strategies.
- Those in business analytics roles are always in demand across numerous industries due to the breadth and depth of their expertise.
- Business analysts have a high average annual salary. It is thus a career that provides a stable income.
- If you become a business analyst, you will likely have job security because the demand for big data experts continues to grow.
What Does an Entry-Level Business Analyst Do?
Typically, an entry-level business analyst’s responsibilities are to assist with the efficient documentation of work procedures and company data. In the context of a firm, entry-level business analysts assist and work with senior business analysts.
Types of Entry-Level Business Analytics Roles
A data scientist must interpret data, which requires statistical and machine learning expertise. In the broadest terms, a data scientist’s job is to organize and process data for actionable insights. Many jobs in data science have responsibilities that mirror the job description of a business analyst. Both roles involve using data to recommend solutions and opportunities.
Quantitative analysts solve financial and risk management problems using mathematical and statistical methods. Using complex models, they help make financial and business decisions about investment, pricing, and related subjects.
As part of their job responsibilities, business analysts use data analysis to bridge the gap between the information technology (IT) and business teams. They do this through assessing processes, determining requirements, and providing data-driven recommendations and reports to stakeholders.
Common Responsibilities of Entry-Level Business Analytics Jobs
- Consulting with senior people in organizations to determine business goals
- Using data modeling to identify problems within the organization
- Researching improvements to business processes
- Communicating the benefits of new technologies and strategies to internal and external stakeholders
- Overseeing the implementation of new technology and systems.
How Much Do Entry-Level Business Analyst Jobs Pay?
The solid professional role of a business analyst, also called an operations research analyst, comes with a comfortable salary. According to the Bureau of Labor Statistics, an operations research analyst makes an average annual salary of $86,200.
Entry-Level Business Analyst Jobs That Pay the Most: Overview
|Job||Average Salary||Min. Education/ Training||Associated Mid and Senior Roles|
|Data engineer||$116,079||Training courses in data engineering||Senior data engineer|
|Risk data analyst||$81,330||Bachelor’s degree||Senior risk data analyst|
|Testing analyst||$67,652||Training courses in quality assurance analysis||Lead testing analyst|
|Software developer||$62,379||Training courses in software development||Lead software developer|
|Business analyst||$55,793||Bachelor’s degree||Senior business analyst|
|Financial analyst||$50,058||Bachelor’s degree||Senior financial analyst|
|Financial advisor||$49,171||Bachelor’s degree||Senior financial advisor|
|Human resource generalist||$43,431||Bachelor’s degree||Human resource manager|
|Service desk analyst||$42,367||Training courses in technical support||Senior risk data analyst|
|Data analyst||$41,374||Bachelor’s degree||Senior data analyst|
Best Entry-Level Business Analytics Jobs: A Closer Look
A data engineer creates and maintains data pipelines, which function similarly to any other technology that needs to be constantly tested and optimized.
Data Engineer Responsibilities
- Develops, constructs, tests, and maintains data architectures
- Works with programming languages and tools
- Determines ways to improve data quality, efficiency, and reliability
Risk Data Analyst
Risk analysts assess all factors involved in a business initiative’s finances. They collect data and perform independent research to determine which trends are likely to occur.
Risk Data Analyst Responsibilities
- Obtains data from business decision-makers
- Calculates risks using analytical software
- Recommends strategies to reduce risks, such as diversification, portfolio investment, and currency trading
A testing analyst ensures that computer software and hardware products are functionally ready for the market before release.
Testing Analyst Responsibilities
- Reviews software and hardware before implementation
- Performs tests to uncover potential issues
- Communicates with other departments and superiors before a product launch
As an entry-level software engineer, you will be responsible for performing tasks that involve coding and programming.
Software Developer Responsibilities
- Writes, debugs, and documents code
- Improves general programming skills and becomes familiar with the codebase
- Co-develops new software with more experienced engineers
Entry-level business analysts support an organization by collecting and analyzing data, providing better solutions, integrating technology, and improving systems.
Business Analyst Responsibilities
- Researches and analyzes data
- Creates data visualizations
- Recommends solutions
As an entry-level financial analyst, you will compile budget and income statement forecasts into reports. In this role, you will analyze the information from business processes and provide advice on improving a company’s financial health.
Financial Analyst Responsibilities
- Performs financial forecasting
- Analyzes financial data and creates financial models
- Assists in ensuring accurate financial reporting
Financial managers are also responsible for the financial health of an organization. They create financial reports, direct investment activities, and develop plans for an organization’s long-term financial goals.
Financial Advisor Responsibilities
- Manages budgets
- Researches pricing, competitors, and factors affecting performance
- Produces long-term business plans
Human Resource Generalist
Entry-level positions for human resource generalists can be obtained with little to no experience. However, most human resource managers possess HR certifications or a four-year degree in a related field, such as business or psychology.
Human Resource Generalist Responsibilities
- Recruits valuable employees
- Trains and onboards new hires
- Performs other administrative functions related to benefits and compensation and employee retention
Service Desk Analyst
An entry-level help desk analyst regularly interacts with customers to provide direct support and troubleshoot technical problems. Job titles related to this role include online customer service representative and user support specialist.
Service Desk Analyst Responsibilities
- Identifies and diagnoses technical issues and problems
- Categorizes and records reported queries and provides solutions
- Monitors issues from start to resolution
Entry-level data analysts generally work with a team of analysts and statisticians. They analyze data and generate reports to present findings to executives, stakeholders, and managers. This position is often confused with a business analyst. The role of business analyst and data analyst differs.
Data Analyst Responsibilities
- Works with data analysis tools and programs such as SAS, SQL, and R
- Works with other teams and departments
- Manages and analyzes large datasets
What Types of Companies Hire Entry-Level Business Analysts?
Business analysts are needed in a wide range of industries. The best way for an organization to make sense of its collected data is to employ these experts. Most companies require business analysts to create marketing campaigns based on customer data. Companies like Indeed, LinkedIn, Facebook, and Google require business analysts for many of their operations.
Career Progression: Mid- and Senior-Level Business Analytics Roles
Mid-Level Business Analytics Jobs
- Average salary: $97,578
- Related entry-level roles: Entry-level data analyst
- Responsibilities: Uses Tableau to create reports and visualizations, participates in feedback sessions to improve systems
Mid-Level Business Analyst
- Average salary: $85,381
- Related entry-level roles: Entry-level business analyst
- Responsibilities: Understands the organization’s strategic direction, does research on new ideas the organization may want to pursue, recommends new projects to pursue
Mid-Level Risk Analyst
- Average salary: $74,164
- Related entry-level roles: Entry-level risk analyst
- Responsibilities: Examines a firm’s investment portfolios, analyzes the risk involved in associated decisions
Mid-Level Data Analyst
- Average salary: $69,517
- Related entry-level roles: Entry-level data analyst
- Responsibilities: Coordinates and manages analytics projects involving data integration and reporting, collaborates with team leaders to solve statistical business problems
Supply Chain Analyst
- Average salary: $68,508
- Related entry-level roles: Entry-level supply chain analyst
- Responsibilities: Oversees the company’s supply chains, ensures timely delivery, keeps the company on a budget
Senior Business Analytics Jobs
Senior Business Analyst
- Average salary: $101,277
- Related entry-level roles: Entry-level business analyst
- Responsibilities: Works to gain an in-depth understanding of business models, strategies, processes, services, roadmaps, and the context in which the business operates
Senior Data Analyst
- Average salary: $96,809
- Related entry-level roles: Entry-level data analyst
- Responsibilities: Converts data into insights that lead to informed business decisions, interacts directly with stakeholders and the top management within the assigned departments
Senior Marketing Analyst
- Average salary: $95,853
- Related entry-level roles: Entry-level marketing analyst
- Responsibilities: Directs and implements sales, advertising, and general market placement strategies
Senior Financial Analyst
- Average salary: $94,543
- Related entry-level roles: Entry-level financial analyst
- Responsibilities: Performs a variety of budgeting and forecasting activities, builds financial models, assists with financial planning, performs research and analysis, prepares reports
Business Research Analyst
- Average salary: $61,473
- Related entry-level roles: Entry-level business research analyst
- Responsibilities: Compiles information drawn from datasets to help managers see the business value
How to Get a Job in Business Analytics
Most entry-level business analyst job opportunities require a bachelor’s degree. The most relevant degrees are in business, finance, information systems, and computer science. More advanced career opportunities are suitable for candidates with advanced degrees. In any case, you must be able to demonstrate key business analyst skills to get a job in business analytics.
Required Skills for an Entry-Level Business Analyst Job
- Critical Thinking and analytical skills: Business analysts need to ask the right questions and know how to ask them. Once they have pinpointed where to look, they have to use critical thinking skills and analytical tools to identify business problems.
- Research skills: Without strong research skills, business analysts will have a hard time gathering data to support solutions for a particular issue or gap within a business. Strong research skills allow them to propose insightful solutions.
- Technical Skills: Business analysts are intermediaries between business leaders and IT professionals. They need to have a strong understanding of technical systems and technical language to communicate with IT professionals and translate complex concepts to management.
- Communication Skills: Business analysts apply communication skills on a daily basis, whether they are launching a project, eliciting business requirements, liaising with stakeholders, or validating the final solution.
- Attention to Detail: Business analysts must be attentive to details as they assist project managers and fill in for them as necessary. They must also document requirements and help track and resolve issues.
Top Certifications for Entry-Level Business Analysts
- Business Analysis Certification (BAC): Entry-level business analysts typically obtain this certification. It has no prerequisites.
- Entry Certification in Business Analysis (ECBA): This certification can serve as a first step in entering a career as a business analyst.
- Agile Analysis Certification (AAC): The AAC is open to all business analysts, regardless of experience level.
- Certified Foundation-Level Business Analyst (CFLBA): This certification can prepare you for entry-level positions in business analytics.
- Professional in Business Analysis Certification (PBA): The PBA certification from the Project Management Institute (PMI) allows business analysts to enter the fields of project and program management.
Can You Get an Entry-Level Business Analytics Job with a Coding Bootcamp?
You may take post-baccalaureate courses or data analytics bootcamps if you already have a bachelor’s degree. Then, look into securing an entry-level position and working toward certification.
Coding bootcamps are a great way to advance your technical skills to new heights. Since business analysts use data management software, attending a bootcamp that teaches Excel and similar programs might be a good start for you.
Best Resources for Business Analysts
A good business analyst is a regular on IIBA’s website. The International Institute of Business Analysis or IIBA is the place to go for certification, training, and everything related to business analytics. Even though it doesn’t have a blog section, the website is packed with resources, quick tips, insights, and news.
Bridging the Gap
Business Analysts looking to start or advance their careers should read Bridging the Gap, another respected publication. Laura Brandenburg offers a wide variety of content, including blog posts, video tutorials, downloadable resources, and online courses.
The Modern Analyst
The Modern Analyst is primarily intended for business analysts, systems analysts, requirements engineers, and even curious product managers. You’ll find information on everything you need to learn Agile project management and software prototyping.
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Is a Career in Business Analytics for You?
As businesses work to examine their processes in the new, uncharted post-pandemic context, they will need analytical consultation on how to make changes that will optimize their goals. Business analysts will no doubt be in particularly high demand in the years to come as the world settles into a new and different way of doing business.
Entry-Level Business Analytics Jobs FAQ
Yes, definitely, businesses always need to pivot and reexamine their processes to adapt to volatile situations. With a business analyst’s help, management and IT teams can collaborate to ensure they’re asking the right questions, identifying the biggest deficiencies, and solving them with innovative, data-driven solutions.
With no on-the-ground business analyst experience, you can become a business analyst by strengthening your educational background. As mentioned above, you may take post-baccalaureate courses or even bootcamps if you already completed your undergraduate studies. Then, you may look into securing an entry-level position and work toward certification.
Start out by getting an undergraduate education in a related field. The most common fields are finance, business, computer science, and information systems. Then, gain entry-level work experience before pursuing a graduate degree or taking the IIBA certification exam.
Yes. You’ll be dealing with business problems and finding solutions for them. Despite this, business analysts are in constant demand because their contributions to companies are highly valued. This makes a business analyst job all the more rewarding.
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