Business Operations Analyst Job Description, Skills, and Salary
Get to know about the duties, responsibilities, qualifications, and skills requirements of a business operations analyst. You can use our job description template in this article to produce your own. We also provide you with information about the salary you can earn as a business operations analyst.
Who is a Business Operations Analyst?
A Business Operations Analyst is a specialist who analyzes a company’s workflow to find ways to boost efficiency and address any potential problems that could impede the business process.
A business operations analyst is a specialist who executes goal-oriented strategies and resolves issues inside organizations. You should collaborate with the operations team and manager of client support services as a business operations analyst. As a team, your objective is to ensure business operations run smoothly.
One of your most significant duties is to recognize operational problems and possible issues and then discuss them with clients and stakeholders. Logistics issues, such as estimating costs and staffing issues in supply and manufacturing, can be a part of these issues.
Your primary responsibility is to increase the organization’s overall effectiveness, so you must be highly perceptive to see any problems. You will identify the difficulties and then use various modeling techniques to fix them. You will utilize several software applications for statistical modeling and data analysis. Predicting the outcomes of the available solution alternatives is part of this research phase.
A business operations analyst must provide presentations and reports that back up their suggested solutions to the difficulties and issues raised by their research and analysis. You will write in-depth reports that cover every aspect of the solution and outline any drawbacks to using it. You will need to clearly explain and convey your ideas to those who might not have a background in operations or data analysis.
You cannot resolve the problems because they are neither straightforward nor small-scale initiatives. To successfully execute the solutions as a business operations analyst, you must work in teams and cooperate with coworkers including other analysts, researchers, and managers. As a result, you must be an effective team player.
Business Operations Analyst Job Description
Below are the business operations analyst job description examples you can use to develop your resume or write a job description for your employee. Employers can also use it to sieve out job seekers when choosing candidates for interviews.
The duties and responsibilities of the Business Operations Analyst include the following:
- Conduct credit checks and timely order releases after checking the sales and service contract conditions to ensure they comply.
- Make sure the timely completion of invoices for goods and services sold by the company complies with regional regulations.
- Perform cash forecasting and portfolio collections according to the conditions of the credit agreements.
- Communicate with customers to ascertain the causes of past-due payments and inform them of what should be done when negotiating payments.
- Inform internal stakeholders of the status of the accounts regularly, and collaborate with them to take remedial action to reduce delinquency.
- Settle issues brought up by partners or clients
- Execute operational duties of allocated accounts, as it covers things such as debit/credit notes, account reconciliation, and recording requests for client information changes.
- Collect, report, model, analyze, and display volumes of data with extreme care.
- Carry out various operations research analysis tasks demanding original, inventive, and creative usage of methods, sophisticated strategies, and new technology.
- Forecast customer demand and optimizing daily capacity and field plans may significantly improve operational effectiveness and customer experience.
- Inform high-level stakeholders in the service organization and the executive team of analyses.
- Conduct long-term and short-term data analysis to boost productivity, reduce fixed costs, and enhance customer satisfaction.
- Deliver ideas to enhance solid metrics and performance indicators using business mentality and financial knowledge.
- A bachelor’s degree in business or a similar discipline
- An advanced degree in a relevant field (optional)
- Experience in a business or operations role (advantageous),
Here are the skills you require to excel in your role as a business operations analyst:
- Analytical Skill
- Business Processes Mapping
- Data Analysis
- Financial Modeling
- KPI Development
- Gap Analysis
- Project Management
- Root Causing Analysis
- SWOT Analysis
Business operations analysts utilize their analytical skills to analyze data and make wise judgments. They evaluate the effectiveness of a business’s operations, including its marketing plans, production methods, and customer service protocols. They also go into financial documents to see whether a business is profitable. Then, business operations analysts create ways to boost productivity and earnings.
The ability to present knowledge in a way that others can understand is known as communication. Business operations analysts frequently work in teams of individuals from many departments, so successful collaboration and sustaining positive working relationships with coworkers depend on having great communication skills. Business operations analysts should be able to write effectively and communicate with clients or create reports as part of communication, which also involves written communication.
Business Processes Mapping
Business operations analysts use business process mapping to record the steps a business takes to act, such as accepting client orders and distributing goods. With this ability, they may spot process inefficiencies inside their company and make adjustments to increase production. They can establish methods for using technology to automate manual operations with business process mapping.
Finding trends and patterns in data is the process of doing data analysis. When analyzing corporate data to assess how functional a firm is, what areas need improvement, and what resources are required to increase performance, business operations analysts apply their data analytic abilities. Data analysis covers the evaluation of data security threats and security solutions to be used to safeguard sensitive data.
The ability to pay close attention to details and confirm their accuracy is known as attention to detail. As a business operations analyst, you can examine data from several sources and ensure that all your calculations are precise. You may use this ability to guarantee that all of the information in reports and presentations is accurate.
Making financial statements, such as balance sheets or profit and loss statements, is financial modeling. Business operations analysts use these models to forecast a company’s future performance. They also use them to assess prior performance and determine whether adjustments are necessary to increase earnings.
KPIs are quantifiable objectives used by organizations to monitor their progress. Business operations analysts generate reports based on the KPIs they define for their organization. To assess if a KPI is effective, they also examine data, which aids them in making defensible business decisions.
For business operations analysts, who utilize the data to make choices, data gaps can be a problem. If any data is inaccessible or missing, they may need to investigate why and figure out how to fill in the gaps. For instance, if a company tracks revenue by month but not by day, the analyst may ask staff members for that data so they can have comprehensive records.
The skills to manage files, documents, and other information is known as organization. Business operations analysts frequently have to go through and discover the most pertinent information from vast volumes of data. They can keep on top of their work and ensure they do not miss any crucial things by using their organizing abilities. Additionally, because it enables them to share resources, it makes them more productive while working in teams.
Because business operations analysts frequently handle initiatives that call for collaboration between many departments, project management abilities are crucial for them. They must oversee the project’s schedule, make sure all essential resources are on hand, and monitor development to do this. Business operations analysts can create plans for deploying new systems or procedures in their firms using project management abilities.
Root Cause Analysis
The process of locating and treating the underlying causes of an issue is known as root cause analysis. Business operations analysts use this skill to examine data, spot trends, and suggest solutions that might help businesses streamline their operations and boost efficiency. For instance, if a company has a month with low sales, a business operations analyst may do a root cause analysis to ascertain why those figures were lower than normal and how to adjust to having better sales in the coming months.
Having the ability to recognize and address problems is problem-solving. When business operations analysts discover faults in data or software, they apply problem-solving techniques. They also use this skill when they provide suggestions on how to enhance a business’s operations. For instance, if a company has difficulties managing its inventory, a business operations analyst may examine the problem and suggest fixes like modifying how staff members record their data or introducing new technology that helps manage inventory more efficiently.
Business operations analysts utilize a SWOT analysis as a strategic planning tool to assess an organization’s opportunities, threats, weaknesses, and strengths. This enables them to create efficient ways to overcome obstacles and succeed. SWOT analysis skills may be used, for instance, to analyze data to decide the best course of action for enhancing customer satisfaction or to find methods to save expenses.
How to Become a Business Operations Analyst
Below are the steps to take to become a Business Operations Analyst:
Step One: Acquire a Degree
Obtaining an undergraduate degree is the first step toward securing an entry-level position in data analytics. This is typically a need for any skilled position, including operations analysis. Therefore, it is ideal for your bachelor’s degree to be in a subject widely connected to math, science, or computer technology.
However, many degrees are acceptable as long as you can add to your degree with extra credentials that emphasize your proficiency in data analysis, mathematics, and statistics (all of which are essential for the position).
Finally, even though it is not a problem at this point, note that many business operations analysts subsequently specialize even further as they advance in their careers, maybe earning a master’s or even a Ph.D. in an area like operations research.
Step Two: Achieve Professional Certification
You’ll need a professional certification to prove your data skills if you already hold a degree (that isn’t in math or computer science). You don’t necessarily need to have experience in operations analysis to demonstrate that you understand data analytics and the related theory, methods, and procedures.
Unfortunately, free online courses may not be the only thing you need in this situation. But many accredited online courses are affordable. Additionally, if you’re switching roles, your employer could be prepared to cover the costs as part of your ongoing professional growth.
Step Three: Obtain an Entry-level Position in Data Analytics
After receiving your certification, the next step is to get an entry-level data analytics role. You will first need to establish your value elsewhere in the industry. Although this is not certain, it is worthwhile to be ready to work your way up.
Whatever position you choose, try to get as much hands-on experience. Develop your fundamental data analytics abilities utilizing tools like Excel, Python, and other data analysis methods.
Step Four: Learn about Operations
Whatever position you have, use every opportunity to gain knowledge and immerse yourself in all things operational.
Where to Work as a Business Operations Analyst
Business organizations, especially large corporations, can employ business operations analysts. They could work for social media corporations, movie theaters, the media, schools, shopping centers, vehicle manufacturing companies, etc.
Business Operations Analyst Salary Scale
The yearly pay for a business operations analyst in the United States ranges from $57,353 to $75,037. The average salary is $64,375.
With 1-4 years of experience, Business Operations Analyst in their early careers makes, on average, £36,495 in the United Kingdom. An experienced business operations analyst in their mid-career earns an average salary of £47,174.
Business operations analysts earn an average of CA$64,722 per year in Canada.
In Germany, the average gross pay for a business operations analyst is €53,228 or €26 per hour. Additionally, they receive a €1,544 bonus on average. The typical wage for an entry-level business operations analyst is €38,446. The average pay for senior-level business operations analysts is €65,467.
The national average for a business operations analyst is AU$110,927 a year, or AU$56.89 per hour in Australia. Most experienced workers can earn up to AU$139,800 per year, while entry-level positions start at AU$99,045 annually.
In Ireland, the average business operations analyst salary is €30,813 annually or €15.80 per hour. Most experienced workers earn up to €60,000 per year, while entry-level positions start at €27,000.
Business operations analysts in Nigeria make an annual average pay of ₦3,810,653 or more.