Want to Help Companies Recover from the Pandemic? Gain Business Data Analytics Skills
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According to McKinsey Digital, up to 40% of reports that are generated by businesses on a daily basis add little to no value. This means businesses are wasting their data. This is unfortunate since data is a resource that when used correctly can have an incredible payoff.
To fully recover from the damage done by the pandemic, organizations must properly harvest and use their data. They can’t afford to generate reports that add little value.
“Businesses will need to model information from more sources, apply insights over more channels, and do all of this continuously while ensuring that the data are clean, privacy is protected, and compliance responsibilities are met,” McKinsey Digital stated.
Correctly using data is easier said than done. Business analysis professionals can help businesses across all sectors use data to their advantage via strategic business analysis.
Good Data Management Can Help Companies Recover and Redeploy Up to 35% of Their Current Data Spend
Today, there is an overwhelming amount of data businesses have at their fingertips. “One key piece of effectively using this data…is using data to tell the right story,” stated the edX Blog. “Businesses are increasingly seeking the skill sets of data scientists and business analysts to do just that, driving actionable insights from vast amounts of data.”
Proper management of data drives better business results. McKinsey Digital said that companies can recover and redeploy up to 35% of their current data spend simply through good data management practices. Business analysis professionals skilled in data analysis can help companies experience benefits like these. That’s why the demand for business data analysis professionals is on the rise. In fact, in 2020, QuantHub stated,
“...the ‘new role’ of Data Analyst is forecast to be one of the most in-demand jobs by 2022…other sources such as LinkedIn, Glassdoor, US Bureau of Labor and Robert Half have confirmed this to be the case as well.”
Did you know 46% of business professionals said their organization has increased the focus on analytics during the pandemic?
The role of business analysis is key in driving the transformation to high performing data-driven organizations. Business analysis professionals are the enablers of the necessary cultural shift. In IIBA’s Achieving More with Data research it states high-performing organizations are using business analysis 190% more frequently to direct their analytic initiatives and indicate 65% ROI or higher than average. These businesses closely follow Business Data Analytics practices, outperform their peers in turning insight into action and in building a data-driven culture.
Upskill Yourself Post-Pandemic by Earning the IIBA Certification in Business Data Analytics
Business analysis professionals can learn to better manage and analyze data and become a more competitive job candidate by earning IIBA’s Certification in Business Data Analytics. Earning this certification proves to employers that you can competently perform business analysis on analytics initiatives. The Certification in Business Data Analytics helps identify skilled business data analytics professionals to organizations seeking these skills.
Learn more about the Certification in Business Data Analytics competencies.
About The Author:
Tiffani Iacolino is a Product Marketing Manager at IIBA® and has 15+ years of marketing experience across the legal, technology, telecommunications, publishing, media, and professional services industries. She’s passionate about delivering meaningful products and solutions to the business analysis community, including IIBA’s latest offering the Cybersecurity Analysis Learning and Certification Program. Hailing from the Greater Toronto Area, she enjoys an amazing cup of coffee, running, and yoga -- between chasing her two adorable children!
