Business Analyst Roles

Business Analyst Roles:

There are many types of roles that are required of a modern Analyst. It depends greatly on the type of industry you are in, but some fundamental aspects remain. Let’s break the term Business Analyst down for a second. The term Business implies the goal of making money. But there are many types of organizations that are in business not just to make money. Take non-profit organizations or community groups for example. And Analyst means a person who analyzes something. So some people may argue that a better term for a Business Analyst is a “Organization Analyst”. The most key roles for a Analyst include:

  • Superior attention to detail
  • Great interpersonal skills
  • Excellent communication both written and verbal
  • Understanding of the company’s business practices and familiarity with the industry.

You should notice that these skills are not just confined to one type of industry. The main goal of any organization analyst is to define the solution that helps the organization reach its goal; it is that simple. Now days more and more people feel that the Business Analyst is involved in just I.T. solutions. This is not the case. There are many different types of business analysts and they can have varying degrees of responsibility.

Here are just a few of the titles that encompass the role of modern Analyst’s.

  • Business
  • Systems
  • Data
  • Business Systems Analyst
  • I.T. Business Analyst
  • Product Development Analyst

This is just a small list of the types of roles that business analysts can occupy. If you are looking to become a business analyst in the I.T. field then you may be required to know software development or understand the structure of how networks are built. A business can be a very integral part of an organizations success or failure. It is not the type of job that you can assume has entry level positions. These types of people are usually experts or have high competency in their field.

There are however courses and certifications that you can receive to help you with credentials. I have done lots of research and have found very few formal business analyst training programs. It is hard to set up programs for roles that experts in a particular field will employ. Although there are some online courses and universities that do offer such course work. The roles of BA’s are always changing and will continue to do so. As long as business is going on organizations will need people who know how to analyze what they are doing and help them achieve their main goals. These people are usually very well compensated for what they know and many can earn over 100k/year. There is no standard work week for a business analyst as many work way over 40 hours. These people sometimes have the fair of the organization in their hands and it can be very pressure driven.

Even though it can be a very high stress job most BA’s get satisfaction in knowing that what they are doing really makes a difference. It can be a stressful profession, but also a very rewarding one. Imagine if you knew that your work was helping an organization succeed in the market.

Eye-Tracking For Marketing Research

Ever watched a TV commercial and not known what it was advertising? Sometimes we can see the same advertisement day after day and even become familiar with the advertisement’s narrative content. Yet when asked what the advertisement is trying to sell, we are at a loss. The question is why is the commercial failing so badly?

One way to answer this question is to run a marketing research study and simply ask respondents why they didn’t or couldn’t engage with the branding message in the advertisement. This might provide an answer. However, research has shown that visual attention is complex and involves both conscious and unconscious impulses. Because visual attention often depends upon unconscious impulses, respondents may not really understand their own visual behaviour. This can lead respondents to give rationalizations for their patterns of visual attention that are, in fact, quite wrong. This is a serious problem as, in marketing research, a wrong answer is often much worse than no answer at all.

You may well have heard of eye-tracking for marketing research. When used in a marketing research study, eye-tracking can give important insights into viewers’ engagement with marketing material through visual behaviour analysis. At a very basic level, visual behaviour analysis allows the marketing researcher to see through the eyes of the customer and to determine the customer’s focus of attention at any given point in time. The hope is that by conducting visual behaviour analysis, we can spot potential problems with the marketing material before the campaign is launched.

What can visual behavior analysis tell us that we don’t already know? Marketing professionals rely upon marketing research to garner insights into customer opinions and behaviour. This data is often interpreted with the aid of empathic skills, intuition and experience. However, eye-tracking gives a more direct access to the viewer’s thought processes through visual behaviour analysis. This is important as eye-tracking is not merely about viewers’ eye-gaze patterns: visual behaviour analysis helps us understand what the viewer is thinking. When we watch a viewer’s eye-gaze pattern over an advertisement, we gain an understanding of the viewer’s thought processes. What they are looking at and why? Are they paying attention to the key branding visuals? What is the link between attention to branding visuals and the ability of the viewer to recall branding information at a later date? Do the viewers read textual information? If so, how much of the text do they read?

These are just some of the generic insights offered by visual behaviour analysis. However, when we combine visual behaviour data with contextual information relating to the advertisement, the respondents’ demographic data and the respondents’ self-reported data, it is possible to build up a rich picture of the viewers’ overall engagement with the advertisement in terms of both behaviour and underlying opinions. This data helps us to better understand the viewer. It helps us determine what marketing messages work for viewers and what marketing messages leave them cold. As part of a multi-modal marketing research study, eye-tracking allows us to determine if the viewers ‘get’ our marketing message. If the viewer does ‘get it’, eye-tracking studies will tell us why and if the viewer doesn’t ‘get it’, the visual behaviour analysis will give us the data we need to determine why the advertisement has failed.

Eye-tracking involves three important steps. These are:-

The study – for the results of the eye-tracking study to be valid, the study itself must be performed using a rigorous research methodology. What this means is that the study should be performed in a scientific manner. This is often a point of confusion as some people claim that eye-tracking is not a science but rather qualitative and subjective. This is both true and false. It is true that eye-tracking data can be analysed in a qualitative way. The analysts can draw subjective inferences from the eye-tracking data. However, the validity of these inferences depends upon the validity of the data upon which they are founded. In order for the data to be valid, it must be collected in a scientific fashion. Failure to do so will not only lead to validity problems with the data but will seriously undermine the validity of any inferences drawn from the data.

The Analysis – at its most basic level, eye-tracking data reduces to a series of ‘point of regard’ co-ordinates. For screen based test media, this can be a data file containing time-stamped screen co-ordinates of the tracking subject’s eye-gaze. This data needs to be analysed to gain useful insights from the study. What can be done? Well there are many useful eye-tracking metrics. For instance, it is possible to track every glance test subjects make on the product as and when it appears on the screen. To do this, the product visuals are tracked within the advertisement and intersected with the test subjects’ point of regard co-ordinates. This will allow the analyst to quantify the test subjects’ focus of attention on the product and monitor their level of attention over time. Basically, if a metric involves viewer’s focus on attention to media visuals, it can be used.

The interpretation – provided the eye-tracking data has been collected in a valid way and processed so as to produce useful information, the eye-tracking analyst will provide you with a rigorous set of data and metrics relating to the viewer’s engagement with the advertisement and highlight potential problem areas. The eye-tracking data will be complemented with test subjects’ self-reported data. Respondents will be questioned about problem areas within the media and their overall level of recall of branding information will be assessed. Where retention of key marketing messages is wanting, the analyst will review the respondents’ eye-tracking data to try to discover what went wrong.

Consider the benefits of running eye-tacking studies against prospective marketing campaigns before they are launched. The visual behaviour analysis could identify problems with a campaign which could be corrected before the campaign begins. This has the potential to make campaigns more effective and allow you to avoid the situation where viewers are watching your advertisement with little idea of what you are trying to sell.

Market Research – Benefits, Methods and Analysis

Market Research is an exhaustive organized process where informative and relevant data is collected for a market/ product or a service. This data is used to study and analyse current market scenario and build future projections which can be used for business planning and strategic moves.

Market Research: Benefits

– Assists in future planning of the business. E.g.

  • Should the company expand its product line
  • Will the product be profitable

– Makes Decision Process easier

– Gives factual information (thus breaking business myths/ and individual perceptions)

– Reduces risks

– Assists in identifying competitive edge

Small or big all enterprises can and should take strategic decisions after conducting a market research in the related field.

Market Research: Methods

There are broadly two types of research

1. Quantitative Research

In this process numerical data is generated which measures the market’s phenomena and demands. This is used for statistical analysis using various mathematical and computational techniques. It quantifies attitudes/opinions/behaviour on a sample and is then extrapolated for the full sample. This is usually conducted through surveys and questionnaire.

2. Qualitative Research

In this more insights and understanding is measured for the topic. It explores various options and gathers opinions. This kind of data is collected through interviews, group discussions etc. The insights are then used to explore various business decisions.

Market Research: Analysis

This is the trickiest part as data collected has to be strategically used in gaining intellectual analysis. Business experts and market research analysts are very well acquainted to do this work.

It is very exhaustive work and various techniques & tools are used to get useful conclusions. Interestingly the same data can be used to make different inferences depending on the research needs and goals. Some common data analysis types are briefed –

Data mining – this technique focuses on modeling and discovery of knowledge discovery for predictive purposes. This method is not useful for descriptive purposes.

Business Intelligence – this technique focuses on business related information covering data analysis that relies on data aggregation.

Statistical applications – it can be

  • Descriptive statistics
  • Exploratory data analysis also called EDA (discover new features)
  • Confirmatory data analysis also known as CDA (confirms the existing hypotheses about the data)
  • Predictive analytics focuses on application of statistical models for predictive forecasting or classification e.g. market growth in 2022- with data available for 2015
  • Text analytics uses statistical, linguistic, & other methods to pull out data and classify the information received from text sources.

This analysis is then constructively used in the business planning bringing a profitable inclination towards the decisions taken. Business planning plays a major role which reflects the survival of the business.

Get the Most From Market Research Companies

Market research companies help your company and businesses to grow with pace you want providing market stats and reports with deep market analysis. Hiring a company is always a good decision for new start-ups and also for growing business. Reports with eye on future market trends, competitors and with view to customers’ perspectives always is helpful for all businesses. When a company hires a company, that’s always a right decision for the betterment and growth of the company.

Keeping an eye on future market and potential clients is what a good business house thinks of. Past market trends and future market trends always help to analyze the potential market situation in particular market segment. That’s possible with survey which is provided by companies with their expertise to target certain people to respond. Survey is not mere asking people about their response to certain product or services, but it is aimed to know what customers needs, likes or dislikes, their outlook on new products. Survey can also help the companies to come out with changing market trends and new perceptions about the products.

Company has team of research analysts who understand and analyze the market scenario with the help of online. Online is not a mere simple research tool for a company but this needs expertise to use in the right way to come up with authentic market stats and data. Data collated with online is well drafted in the form of reports delivered to companies who need for their market segments. To make a survey successful you need a database of past clients, present clients or potential clients as per the need to which survey is aimed.

When a company hires companies their aim is to know what is the market demand, what new concepts are coming up in the market, what the customers are looking at. This is possible only with certain questions the company gets answered with online done by companies. Doing online is not as easy as it spells, but it needs a certain amount of expertise, knowledge of particular market segment, understanding the importance of research resources to fetch the authentic data.

I am sure this article will help the growing companies to understand the importance and usefulness of reports from companies. Online is the well defined research tool used these days to know the market scenario, do competitive analysis and come up with new concepts which are the need of the current competitive market? All this is possible with the help of company who understand what the client needs, what sort of reports is the best for your business, gets the questions answered with online market survey and who else than Visha Consultants can provide the same. The company is the best company in India who understand the market well to help your business grow. To know more well visit http://www.vc-india.com