In today’s digital world, business analytics translators – or business analysts – are an increasingly valued member of all types of organisations
A business analytics translator is more than just a number-cruncher; they play a key role in translating data into insights that drive business decisions. Their work is both deep and broad – examining data and details in-depth, then surfacing to take a big picture view of the context and impact of the insights they uncover.
So sought after is the business analytics skillset that qualified and experienced business analytics translators can take their pick of great places to work. If you’re thinking of starting out in the field, you’re set to continue riding this growth well into a long career.
‘It’s an emerging career — if you look at the lifecycle, it’s just the beginning,’ says Dr Kristijan Mirkovski, course director of Deakin University’s Bachelor of Business Analytics.
Business analytics translators use technology and strategic decision-making to manage vast quantities of organisational data. The goal? Identify the problems and needs of a business, then develop ideas and solutions.
Business analytics translators connect the technical expertise of data engineers and scientists with the operational expertise of marketing, manufacturing, finance, management and other project teams. They make sure the data organisations collect is translated into meaningful strategies that benefit the bottom line.
Most large organisations employ business analytics translators, says Dr Mirkovski. ‘Any company that has a lot of data needs someone who can interpret that data,’ he says. ‘You can work in logistics, energy, finance, healthcare and many other industries — it’s a very versatile career.’
Dr Mirkovski says business analytics is less about hardcore technical aptitude — especially compared to something like data science — and more about generating real-world insights from large bodies of data. ‘Business analytics translators need to have technical skills, but the key focus is interpretation of the data and applying insights from the data to business strategy,’ Dr Mirkovski says.
‘Business analytics translators need to find insight that’s relevant for the business users. For example, you might analyse marketing data and find the organisation has large conversion rates, then identify areas for improvement.’
In fact, he says storytelling and being able to communicate the business impact of the information you uncover are key skills. ‘You need to have good persuasive skills and be good at communicating with other people in the business,’ Dr Mirkovski says. ‘Understanding how to use software tools to analyse data is an important aspect of business analytics, but another aspect is storytelling – how do you tell the story of the data to other parts of the organisation in a meaningful way?’
Business analytics is changing our world at a rapid rate and job opportunities are growing almost as quickly. By 2023, the Australian Government says projected job growth for business analytics translators is set to increase by almost 20%. Research by McKinsey Global Institute estimates that demand for business analytics translators in the US may reach two to four million by 2026.
‘There’s more demand than supply in the market – we’ve heard this repeatedly in different industries,’ Dr Mirkovski says. ‘People working in business analytics are at the peak of their game and it’s now one of the highest paid occupations.’
Indeed, he says business analytics translators are well-placed for long and rewarding careers in a wide range of industries. ‘This is just the beginning of business analytics,’ Dr Mirkovski says. ‘We live in a data-driven society — and the data is increasing and increasing every day. Everything ends up in a corporate database somewhere and companies want to make use of this data.’
Originally published on this.