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What does Business Analyst do || Business Analysis vs Financial Business Analysis ||Being An Analyst - YouTube
Channel: Being An Analyst
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hi guys welcome back to the channel i just made a聽
video talking about a day in a life of a financial聽聽
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business analyst but in as i was watching the聽
video i realized most people can confuse a聽聽
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business analyst with a financial business idea聽
so i decided to wait wait a second take a step聽聽
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back a little bit so we took a step back and聽
on this video i'm trying to explain as much as聽聽
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broad high level what is the聽
difference between a business聽聽
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analyst and a financial business analyst the聽
difference between a business analyst and a聽聽
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financial business seller is what we're discussing聽
less please stay tuned for the rest of the video聽聽
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initially the first thing that you can realize聽
between business analysts and financial business聽聽
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analysts is that they the name seem more or less聽
the same let's take business analyst for instance聽聽
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if you're using the word business analyst and then聽
you put another way to front of it call it senior聽聽
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business analyst you can expect that the people do聽
more or less the same thing the only difference is聽聽
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one the senior guy might be doing something with聽
high level sensitivity that the junior guy might聽聽
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not have access to maybe a little bit more complex聽
or a little bit bigger project might be given to聽聽
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the senior guy while the junior guy doesn't do it聽
so junior business analyst business analyst and聽聽
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senior finance business analyst the difference聽
might be very very very close to each other聽聽
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and i used to think the same is true when you聽
put another name in front of a business analyst聽聽
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which is financial business analysis but i'm聽
afraid it's totally different business analysts聽聽
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look at requirement specification they write the聽
document learn about processes and they can become聽聽
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process engineers which means you tell them about聽
this is how i do to my close arrest and they map a聽聽
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process to say you first check what's missing from聽
your fridge until you go all the way to the store聽聽
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and then you bring it back and they map that聽
whole process a business analyst will call out聽聽
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take that process go meet with the people make聽
a business case about what do people do to make聽聽
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groceries so when it comes to financial business聽
analyst their job has to do with looking at聽聽
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any data that has got financial information聽
on it initially i had been called the senior聽聽
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financial business analyst and i was in a聽
sales department i think the role that quite聽聽
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fitted me best was sales analyst because i was聽
looking at sales data and i was analyzing that聽聽
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but in this case when you called financial聽
analyst i think the reason why they took me聽聽
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to the financial side it was most of our data was聽
financially related and my education was actually聽聽
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leaning towards the finance side so it becomes聽
easy to call me a financial business analyst聽聽
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financial business analyst looks at not just you聽
know your normal income statement that's what聽聽
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financial officers does but a financial business聽
and it takes maybe surveillance is your ni聽聽
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normal revenue and then they derive meaning from聽
them whether they split it further or they add聽聽
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other layers into it that's what a financial聽
business analysts do so when you talk about a聽聽
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day in a life of a financial business and it is聽
they might at all not be talking about process聽聽
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engineering they might not be talking about聽
creating documents the only way that they would聽聽
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be talking about making documents might be during聽
presentation while this is unless the first thing聽聽
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that they might be talking about is collecting聽
information so that they can create a document聽聽
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the other guys all they do financial business聽
unless all they do is collect the data so that聽聽
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they can get reports on the other one they collect聽
information so that they can make a documentation聽聽
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to say okay this project is visible we can go聽
ahead with it while the other one says this is聽聽
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where you're spending most of your time that's聽
where you're spending so that's the difference聽聽
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between the two and when i'm talking about the day聽
in the life of financial business analysts that聽聽
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you are you are sure to see me talk about聽
data because the biggest thing that inputs聽聽
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into their work is data while on the other side聽
if you were talking about business analysis as a聽聽
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business analysis what does business analysts聽
do you'll hear more about going into meetings聽聽
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which is the biggest thing you will hear about聽
collecting requirements daily stand-up meetings聽聽
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you'll hear about all of those things those are聽
the key things that are required when it comes聽聽
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to business analysis financial business analyst聽
data data data data so as people as they see it in聽聽
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their mind okay we follow this that is required聽
so that's that's one of the difference between聽聽
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those two so another difference is business聽
analysts most of the time they sit within iit聽聽
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information technology because they help with聽
projects so you are sure to find them as a key聽聽
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driver on project management financial business聽
analysts they sit within the finance side聽聽
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so you are more likely to see them as聽
right hand man to some of the guys so you聽聽
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you can see maybe a financial business analyst聽
as right hand woman to a financial officer聽聽
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but mostly the people that needed those people聽
might be your execs or your heads of department聽聽
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this is why when you talk what do you say my聽
client you're actually saying the execs because聽聽
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you they were they got you know an issue to deal聽
with and then they brought it forward there's聽聽
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another way the reason why i'm looking for for the聽
one for these two is because they have the name聽聽
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business analyst at the end of it there's another聽
one in finance called the finance specialist聽聽
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finance specialist the thin line between a finance聽
specialist and a financial business analyst聽聽
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so that one we can talk about it later they do聽
more or less the same thing the only difference聽聽
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is one goes out and then finds best practices聽
right best practices in that field that's what聽聽
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a finance specialist does as far as i'm concerned聽
once you've found the best bra like you can still聽聽
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analyze the data like financial business analyst聽
after you analyze the data and you can see where聽聽
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it's going you bring in another element聽
to say but the competitor are doing this聽聽
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so that layer makes you you know going into聽
financial specialist where you spend most of聽聽
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the time doing it it's ten rents an hour but聽
what what's the best practice it's 25 75 right聽聽
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now you know stuff like that this one in聽
natural business and it's quite interesting聽聽
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because even the what's required is quite聽
different to what's required from business聽聽
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analysis i think so i thought i should just make聽
this video just to clarify the difference between聽聽
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the two rows they look quite similar but they're聽
not similar they're far far far different from聽聽
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each other thanks guys for watching this video聽
please stay tuned for another video coming up聽聽
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you
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