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Whether you are already working as a Business Analyst in Singapore or considering this professional career path, the future looks bright, and the choices are varied for becoming a Business Analyst.
The rapid evolution of information technology and the rise of big data in Singapore have opened the door for multiple types of business analyst careers, which are growing quickly.
Business analysts may work alone or as part of a large company that employs numerous full-time specialists and consultants to work on a variety of projects.
Skills and qualifications to become a Business Analyst
A business analyst career is not something you just fall into, typically.
According to the International Institute of Business Analysts (IIBA), you will need the following:
- A bachelor’s degree relevant to your area of specialisation
- Experience in financial analysis, data flow analysis and project management
- Analytical thinking and problem-solving skills
- Soft skills, such as leadership abilities and excellent written and verbal communication
- Technological proficiency
- Demonstrated expertise in your area of specialisation
Your career path as a Business Analyst in Singapore
When deciding where to go in your position, you need to consider where your strengths lie.
Are your skills grounded in systems knowledge or Business Analyst competencies?
And how do you want to grow your Business Analyst career — within a company or as a consultant?
There’s no one clear path for business analysts. As a result, consider the following:
- Focus on the core Business Analyst skills required and solidify yourself as a solid contributor.
- Try a lateral move. Experience is often limited by expertise. Lateral moves can provide real value and shift people into new contexts while testing competencies.
- Think about what is next. There are many senior-level Business Analyst roles as well as a number of interesting career options outside of business analysis.
What do companies expect from business analysts?
Companies in Singapore typically seek business analysts with experience in financial analysis, data flow analysis and project management.
Hiring managers also seek technology proficiency, particularly in Excel, data mining and enterprise resource planning (ERP) systems.
Duties typically include:
- Assisting with planning, implementation, improvement, monitoring, and support of business information systems across multiple departments
- Ensuring that business data and reporting needs are met
- Developing and monitoring data quality metrics
- Organising and formatting reports for distribution
- Effectively communicating with all levels of the organisation
Transferable skills and experience into a Business Analyst career
The Business Analyst role you are best suited for will depend on the skills and experience you have gained during your career.
Accountants might be interested in budget analyst positions where they can employ data mining skills to identify business trends and adjust budgets accordingly.
Likewise, information technology auditors may find a smooth transition in applying their expertise and knowledge of ERP systems to the role of business systems analyst.
Becoming a Business Analyst in Singapore
One reason demand for business analysts is so high is that more organisations in Singapore want to make their big data actionable for decision making.
Depending on their needs, employers are recruiting for full-time positions, engaging consultants, or using a combination of both staffing strategies.
Because these in-demand specialists can be difficult to find — and retain — many companies are prepared to offer competitive compensation for highly skilled business analysts.
Senior-level business analysts are in especially high demand.
According to the Robert Half Salary Guide for Singapore, a Business Analyst salary could range from SGD$85,000 to SGD$121,000.