Business Analysis Without a Degree: Myth or Reality?

If you are looking to build a career in business analysis, you must be thinking if you need a university degree to become a business analyst.

Well, the straightforward answer is “NO” as there is always the scope for creating opportunities for oneself. Having said that, most organisations today require an undergraduate degree for the role of a business analyst. Besides, having a university degree improves your chances to land a better job. However there is no direct degree in relation to the study of change management or business analysis.

In this video, I, Shaz Shafiq will resolve all your such questions and help you to understand the options available. Watch the video or read the full blog to debunk the myth.

Significance of a Degree for Becoming a Business Analyst

While educational requirements for a role vary a lot from employer to employer, the majority of business analysts hold at least a bachelor’s degree in the related field. Typical examples of a bachelor’s degree for the role of a business analyst include finance, information technology, marketing and business administration. Having a degree in any of these majors is an excellent starting point for an entry-level job in business analysis as it provides you with some valuable skills for this role. 

However, having a degree can be bypassed by having professional experience. The more you have the easier it becomes, as you will have gained a lot of transferable skills to make that transition into becoming a business analyst. 

It is much easier to transition using your existing skills to a business analyst position, rather than going through education route and acquiring a degree to become a business analyst. Number one, because you're not starting over. You don't want to go entry-level; you want to take advantage and be rewarded for the good work that you've already done in your career. And number two, it's a lot easier to talk about skills and experience that you already have. Ultimately, that is what the job interview is about. It is about explaining how your past experience can benefit the company and help them solve their problem. It is an exchange of value. You bring your skills and talents to solve the company's problems; in turn, they pay you.

Many of you are walking around with high-paying skills and don't even realize it because they're being used in the wrong industry. The simple fact is that the same principles you used in managing complex tasks in other industries are highly valuable in business analysis. 

Common Degrees to Become a Business Analyst

A business analyst is expected to have an educational background in fields like finance, business or information technology. A Zippia survey revealed that out of all business analysts, three-fourths held a bachelor’s degree and 18% had a master’s degree. The survey also found that approximately 7% had an associate degree and 2% had “other” degrees. Among people with an undergraduate degree, 7% had one in accounting, 9% in finance, 10% in computer science, 29% in business and 45% in other majors.

Other Qualifications to Become a Business Analyst

Having a master’s or bachelor’s degree is a great option to show employers one’s potential to become a business analyst. However, that is not the only way to do so. Below are other options to acquire the skill set required to become a business analyst in 10% of the time of a university degree:

• Online Courses: If you wish to make a career in business analysis but without geographic barriers or time constraints, you can choose an online business analysis course from a reputable academy. A key advantage of online business analyst course is that you can usually complete the course in a few weeks – and it covers varied tools and topics relevant to today’s business world. The bulk of online business analysis courses are available in the module form. This makes them self-paced, allowing you to easily strike a balance between your learning and personal or professional commitments.

• Business Analytics Certifications: A range of business analysis certifications can be obtained by passing an exam conducted by the International Institute of Business Analysis (IIBA) or the British Computer Society (BCS). Business analyst certifications online are an excellent choice for professionals without a master’s degree in a relevant field. This is because a business analysis certificate helps validate that the professional has the relevant industry knowledge. 

Skills Required to Become a Business Analyst

Regardless of the route you finally choose – be it a university degree in business, certified business analyst course or gaining experience, you will still need to show the employers that you possess the necessary skills to succeed in this role. Here are some major skills a business analyst must possess to excel in this job, not all skills are required as it is role dependant, however the more you have of these skills the better.

Hard Skills

• Data Analysis
• Statistical Analysis
• SQL
• Excel
• Data Visualization
• Business Intelligence (BI)
• Requirements Gathering
• Process Modeling
• Project Management
• Database Management
• Programming Languages (Python, R)
• ERP Systems (SAP, Oracle, Microsoft Dynamics)
• CRM Systems (Salesforce)
• Report Writing
• Financial Analysis

Soft Skills

• Critical thinking abilities
• Negotiation skills
• Excellent written and verbal communication 
• Self-motivation to work independently
• Ability to take initiatives and collaborate 
• A keen eye for detail
• Problem-solving skills 
• Ability to oversee projects, from conception to completion 

Conclusion

Surely, a university degree can set the stage for a solid career in business analysis. Having said that, it is certainly not the only option to excel in this role. Industry experience, analytical thinking skills and problem-solving abilities, together with the exceptional ability to derive meaningful insights from data can go a long way in becoming a successful business analyst. Many professionals acquire the required expertise through industry-recognised certifications, online courses, business analysis training and hands-on experience, which – for many employers – can be more attractive than a university degree.

Continuous learning is key in the field of business analysis, since it requires a thorough understanding of ever-changing technologies, data analytics and business environments. Staying updated on new tools, methodologies and best practices, will help ensure that you as a business analyst can offer meaningful insights and take strategic decisions in the highly competitive business scene of today.