Modern business analyst training tools:
Depending on the industry you are working in these tools may vary to some degree. When management within an organization wants a business analyst to analyze the company they usually have a few tools at their disposal. Business Analysts can make use of a company’s ERP system or “enterprise resource planning” system. Most organizations consider this the backbone of their business.
Wikipedia defines ERP as a “system that integrates both internal and external management of information across an entire organization-embracing account/finance, manufacturing, sales and customer service and customer relationship management ect”. It goes on to say this is all accomplished with a software application. ERP’s purpose is to control and record all the functions inside the business and manage outside stakeholders as well.
This technique seeks to understand business behavior by using complex statistics and mathematical modeling measurement and research. Cash flow and break-even analysis are two simple tools you can use to tell how well your business is doing. As a business you want to see if you are spending more money then you bring in. You can use this process to see if a certain product or service is really worth the money you are putting into it.
This may be new to some people but SWOT Analysis is a structured planning method used to evaluate strengths and weaknesses, opportunities and threats involved in a project or business.
This may be a no brainier, but you need to be computer literate at the minimum. Knowing how to use Microsoft Word and advanced software will only help you. Knowing how to conduct classroom sessions and presentations is also a useful skill any business analyst will need. Some business analysts will be asked to use software to analyze different kinds of data about an organization.
There are many tools out there that can accomplish these tasks. Different organizations may use different systems,but they all accomplish the fundamental goal. Think of these as things to assist you with your primary goal. It still requires intellect and management skills to make these tools most effective.