Analysts most often work with numbers. They are a form of expression for the information needed to calculate dependencies, make predictions, compile statistics, or create plans for the future that describe trends in development. The value of numbers is that they reflect a multitude of processes and are used in almost all areas of social life.
Analyst is a generalizing name for professionals of the same professional field whose activities consist of collecting digital data, analyzing it, and deciphering it. The data one works on depends on the peculiarities and subtleties of the professional field. The number of fields where analysts are needed is growing: while earlier it was investment and finance, specialists are now needed in engineering, computer technology, biology, and advertising.
The direct responsibilities of analysts include collecting data that will be needed for further analysis. Once the data are collected, they must be reduced to a single form, commonalities found, or additional information prepared-the combination of these processes is called primary processing.
The next step is to outline the items by which the data will be examined, or make a plan. Specifically, the analysis is done using evidence-based methods and new technology. Based on the work done, analysts make plans for further development, noting the identified patterns, dependencies.
Specializations
Business analyst is the most in-demand specialist in the field of business process management. To a certain extent he is an economist, who understands the subtleties of financial processes taking place in the company. One of the main tasks of the business analyst is to form a development strategy and solve strategic tasks related to economics and finance. The employee’s tasks include the formation of business plans, optimization of business processes.
A product analyst, unlike a business analyst, studies the properties and peculiarities of a particular product. The specialist helps the company see how the user interacts with the product – first there is data collection, and later the analyst finds out the needs and behavior of customers. Product analysts are especially valuable in business because they decipher numbers and translate them into an understandable language that will help make necessary recommendations for future development.
A financial analyst optimizes and manages finances, monitors emerging risks, and compiles an assessment of the financial market and the industry as a whole. The ability to follow the financial situation, and the ability to design new financial instruments for business or organization development are essential for this specialization.
The Marketing Analyst has a wide range of responsibilities and is responsible for the competitiveness of the product, identifying brand weaknesses and strengths, market analysis and sales channels with their subsequent development.