An analyst is a specialist who collects, deciphers and analyzes information. The task of the profession is to find patterns even in the most remote and distinct arrays.
Analysts most often work with numbers. They are a form of expressing the information needed to calculate dependencies, forecast, compile statistics or create plans for the future that describe development trends. The value of numbers lies in the fact that they reflect many processes and are used in almost all spheres of public life. Although for the most part the profession of an analyst is connected with the financial or economic sphere – after all, accurate analysis and forecast are especially valued in them, but the boundaries are expanding, and every year analytical processes become part of other areas important for the functioning of society.
To work on the analysis and structuring of information, it is necessary to have the ability to operate with large volumes of indicators, induction and deduction, the ability to concentrate on details and carefully examine ready-made or even disparate data. Analysts adhere to the evidence base in their professional activities, but it will not be superfluous to have a developed intuition, to be able to think over each action in advance.
Analyst is a generalized name for specialists of one professional orientation, whose activity consists of collecting digital data, analyzing and deciphering it. The data that a person works on depends on the features and subtleties of the professional sphere. The number of areas where analysts are needed is growing: if earlier it was about investments and finances, now specialists are required in engineering, computer technology, biology, and advertising.
The direct responsibilities of analysts include collecting data that will be needed for further analysis. When the data is collected, they need to be reduced to a single form, to find in them a common or to prepare additional information – the totality of these processes is called primary processing.
This is followed by the designation of the points on which the study of the data will take place, or the drawing up of a plan. Specifically, the analysis is performed using scientifically proven methods and new technologies. Based on the work done, analysts draw up plans for further development, note the identified patterns and dependencies. To obtain an accurate result, it is necessary to draw up a report on the basis of which conclusions are drawn. Already with the finished document, the analyst can talk about the features of the studied process, its complexities.
A business analyst is the most sought-after specialist in the field of business process management. To a certain extent, he is an economist who understands the intricacies of the financial processes taking place in the company. One of the main tasks of a business analyst is the formation of a development strategy and the solution of strategic tasks related to economics and finance. The tasks of the employee include the formation of business plans, the optimization of business processes.
A product analyst, unlike a business analyst, studies the properties and features of a particular product. The specialist helps the company to see how the user interacts with the product – first the data is collected, and later the analyst finds out the needs and behavior of customers. Product analysts are especially valued in business because they decipher the numbers and translate them into understandable language, which in the future helps to make the necessary recommendations for development.
A financial analyst is engaged in the optimization and management of finances, monitors emerging risks, makes an assessment of the financial market and the industry as a whole. For this specialization, the ability to monitor the financial condition, the ability to design new financial instruments for the development of a business or organization is important.
A marketing analyst has a wide range of responsibilities and is responsible for the competitiveness of the product, identifying the strengths and weaknesses of the brand, analyzing the market and sales channels with their subsequent development. The collected information about the market of goods and services, competitors, payback and profitability helps to compile a complete report for the further active work of the company.
To a certain extent, a system analyst is a “translator” from the language of customers into the language of programmers. In addition, they are actively involved in internal automation processes – this helps to improve the perception and user experience with the company’s products. To work in an IT company, it is important not only to know the intricacies of business processes, but also to understand how they are technically arranged.
A web analyst is responsible for collecting and analyzing information about website visitors and their behavioral characteristics. Thanks to the work of this specialist, the site can literally “come to life”: web analytics is necessary to increase efficiency, improve site performance, attract additional traffic, and expand the user base. Google Analytics, Yandex.Metrika, Call tracking – programs that allow you to install tracking codes and configure the necessary tools for work. A specialist in this field will also help with a strong lag behind competitors: with the help of the collected data, it will be possible to increase not only the efficiency, but also the profitability of the site
Benefits of being an analyst
The profession of an analyst has its advantages:
- a wide range of specializations;
- great opportunities for the implementation of skills;
- high level of wages;
Disadvantages of being an analyst
The disadvantages of being an analyst are:
- high degree of responsibility;
- sedentary work;
- increased mental stress;
- For successful employment, most often you need work experience in the specialty and higher education.
In higher education, there are practically educational programs that would suit those who want to work as an analyst. Usually graduates enter the Faculty of Economics, the Faculty of Informatics and Computer Engineering, the Faculty of Marketing – depending on the chosen future specialization.
To start a career as an analyst, you can take specialized courses. They will teach the basics of the profession and help with employment for beginners, while many specialists in the field of analytics take them to improve their skills in order to better navigate the tools for work. Courses for immersion in the profession last about 6 months, and advanced training can be completed in 1-2 months – much depends on the level of training and the desire of the student.
Due to the wide range of specialties, the profession of an analyst is in great demand. There are always vacancies in the labor market – in almost any field of activity, it is important to analyze data and draw conclusions based on it for the development, transformation of certain arrays. On job search sites, you can find many offers from companies in the field of information technology, financial, social, chemical and others.
Employment and career
Analysts can work in:
- IT companies;
- companies providing advertising services, promotion services;
- marketing agency;
- specific market segments;
- medical organizations;
- state structures;
- insurance business.
When applying for a job, they look at the skills and abilities, the presence of a diploma of higher education or a certificate of completion of advanced training courses.
Prospects for the future
Analytics is an integral part of many important processes that occur in various fields of activity. And professionals who help identify patterns, evaluate profitability, assess risks, monitor market conditions or system operations, are experiencing an increasing need to develop their skills and abilities. That is why changes in the work of analysts will occur gradually, and one of them is the expansion of the range of responsibilities.
Analysts will continue to study the problem, look for options for solving and setting new tasks for other specialists. Without their work, the functioning of large and even medium-sized companies is simply impossible to imagine. This profession is especially needed in the post-industrial era and has every opportunity for active development, attracting new interested people.