With the increasing dependence of organisations on data in the age of pandemics, political uncertainty, intense competition, and rapidly advancing technology, the role of a business analyst has assumed enormous proportions.
In addition, companies often pay business analysts handsomely, which can further open up opportunities in the business analyst’s career.
If you’re considering pursuing a career in business analytics in the country, this guide can be a good starting point.
From covering a business analyst’s growth opportunities to essential skills for your success, here’s everything you need to know about this field.
So let’s dive right in.
What is a Business Analyst?
Business analysts (BAs) are skilled experts entrusted with connecting IT and business, employing data analytics to evaluate processes, identify requirements, and provide data-driven recommendations. They usually report to executives and stockholders.
Some essential tasks of a business analyst include:
· Identifying and prioritising the organisation’s functional and technical needs and requirements
· Using SQL and Excel to analyse large data sets
· Compiling charts, tables, and other elements of data visualisation
· Creating financial models to support business decisions
· Understanding business strategies, goals, and requirements
· Planning enterprise or organisation architecture (the structure of a business)
· Anticipating future outcomes, creating budgets, and conducting wide variances and financial data analyses.
Having all the skills required for a business analyst opens up new avenues and can help you grow in your career – increasing both the payout and the kind of business challenges you get to solve daily.
Tips to Building a Career in Business Analytics in Malaysia
Business Analytics has gained the status of being ubiquitous, enabling numerous business analyst growth opportunities. Data and even analytics have touched almost every aspect of our life in recent years.
Nearly 90% of all organisations in Malaysia have set up data and business analytics in their day-to-day functions over the past five years or so. It is precisely why a business analyst’s career is something you should look to explore or work in, at least for a while.
Let’s check out some tips to build a business analyst career in Malaysia – one that can not only help you grab a job but also make the most of the opportunities:
Business Acumen
One essential tip to unlock your growth as a business analyst is business acumen. Having a sound understanding of the various aspects of a business is critical, especially when business analysts are required to be more than just technically efficient.
But what is business acumen?
Simply put – Business acumen is the ability to quickly and confidently make decisions to address different business situations that will likely lead to a good outcome.
And who wants their team to avoid making decisions that lead to good outcomes?
The ability to make these decisions also leads to improved financial performance and the development of strong leaders – which is crucial for long-term success in any business.
Data Analytics
Another master tip for a highly business analyst career is combining strong business acumen with a solid foundation in data analytics, which can help you establish yourself as a skilled business analyst capable of delivering valuable insights to drive informed decision-making within organisations in Malaysia.
Business Analysis Methodologies
For all the business challenges, several business methodologies have been developed to audit and enhance corporate operations.
Some standard business analyst methodologies include:
SWOT– SWOT analysis is a strategic planning tool that evaluates an organisation’s strengths, weaknesses, opportunities, and threats to inform decision-making and enhance competitive advantage.
CATWOE – CATWOE is a systems thinking technique that helps identify and analyse key components in a complex situation: Customers, Actors, Transformation, Worldview, Owner, and Environmental Constraints. It is commonly used in business analysis and problem-solving to understand a system and its stakeholders better.
MOST – The MOST technique, also known as Mission, Objectives, Strategies, and Tactics, is a framework for strategic planning and goal-setting. The MOST technique provides a structured approach to aligning organisational goals with actionable plans for success.
PESTLE – Political, Economic, Sociocultural, Technological, Legal, and Environmental. Organisations can evaluate opportunities and threats, anticipate potential challenges, and make informed decisions to adapt their strategies and operations accordingly. A PESTLE analysis offers a holistic perspective on the external factors shaping the business environment.
Six Hats – The Six Thinking Hats technique, developed by de Bono, uses metaphorical hats to represent different thinking styles. It facilitates group decision-making by exploring perspectives: Blue (organiser), White (facts), Red (emotions), Black (critique), Yellow (benefits), and Green (creativity).
These planning techniques can be used in several projects, and implementing them can also help sustain your company’s long-term profitability by optimising operations and aligning the long-term objectives of your business.
Communication Skills
Apart from making sense of business data, business analysts need to communicate their findings with the stakeholders.
Having strong communication skills helps in improving business analysts’ growth opportunities as they progress in their careers.
Career Path for a Business Analyst in Malaysia
The business analyst career in Malaysia typically starts at an entry-level analyst and then advances through junior, senior, and leadership positions. Experienced individuals can pursue managerial roles or transition into strategic consulting.
Continuous professional development, acquiring relevant business analyst certifications in Malaysia (such as Certified Business Analysis Professional – CBAP), and expanding domain knowledge can also help enhance the career prospects for Business Analysts in Malaysia.
Conclusion
To become a business analyst in Malaysia, you need to strategically leverage your skills and find relevant opportunities at some of the most prominent companies in the region. In addition, you must also be able to network with executives and relevant stakeholders to increase the chances of landing your desired job.
We hope the points covered in the article are helpful and will help you start your business analyst career quickly.
FAQs Related to Business Analyst Career in Malaysia
Q1. How much does a Business Analyst make in Malaysia?
Ans1. The average business analyst’s salary in Malaysia is MYR 4,500 per month.
Along with salary, the business analyst may get an additional cash compensation that is MYR 9,450, with a range from MYR 1,163 – MYR 38,000 per month.
These salary figures are approximate and vary considerably based on prevailing market conditions.
Q2. Is business analyst in demand in Malaysia?
Ans2. As the emphasis on digital transformation and data-based decision-making continues to rise, the demand for proficient business analysts who can bridge the divide between business and technology is also growing.
Many industries, including finance, IT, e-commerce, and consulting, seek business analysts to support their strategic initiatives.
The demand for business analysts in Malaysia will remain strong as companies prioritise efficiency, productivity, and innovation.
Q3. Are there any courses for Data Analyst?
Ans3. You can boost your career in data analysis with a suitable data analyst course in Malaysia. Some of the various courses are :
· Business Analytics with Excel
· Tableau training
· Programming Basics and Data Analytics with Python
Q4. What are the skills required for a Business analyst in Malaysia?
Ans4. The business analyst position requires a combination of both hard and soft skills.
Some of the most important skills required for becoming a business analyst are:
· Oral and written communication skills
· Interpersonal and consultative skills
· Facilitation skills
· Analytical thinking and problem-solving
· Possesses meticulous attention to detail and the ability to consistently deliver precise results.
Q5. What educational qualifications are necessary to become a Business analyst?
Ans5. Specific educational qualifications are typically preferred or beneficial to become a business analyst.
A bachelor’s degree in a related field, such as business administration, management, finance, economics, information systems, or computer science, is often required or highly recommended.
A recognised business analysis certification, such as CBAP, CCBA, or AAC, can also significantly enhance job prospects.
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