What does an Analyst do?
Analysts gather and evaluate organizational data and statistics to determine any enhancements to make to business structure, performance, or finances. They build a detailed and easily understandable report that outlines the organization’s overall performance results and what can be improved. Once they analyze this data and present their findings, they build and recommend a clear strategy for management to implement. They consistently review the success of these strategies and determine if any additional changes should be made as well. They gather various pieces of information, like business or financial performance, and present statistical reports based on these details.
Analyst skills and qualifications
Considering the nature of their work, there are some critical technical skills that all Analysts should possess, regardless of their field of specialization or their organization. A successful Analyst will have various prerequisite skills and qualifications needed for their role, including:
- Ability to carefully examine, interpret, and extract significant data to form logical and valuable conclusions
- Oral and written communication abilities
- Report writing and compilation skills
- Ability to give a precise, timely, and accurate presentation that addresses and suggests all business challenges in a clear and understandable manner
- Time and resource management skills
- Leadership and motivational skills
- Problem-solving and critical thinking abilities
Analyst experience requirements
Most Analysts are expected to have at least one or two years experience interpreting data sets and statistical results. They should also have knowledge of, and experience using, statistical programming languages or other data visualization tools to help them better gather and evaluate key data points. Impressive candidates also have advanced expertise in basic statistical methods or experimentation, like predictive analysis, data mining, and regression.
Analyst education and training requirements
An entry-level Analyst usually requires a bachelor’s degree related to the specific field or industry of the role they’re pursuing. This could include a bachelor’s degree in business administration, marketing, statistics, finance, IT, economics, or accounting. Many Analysts pursue internships to gain hands-on analytical and data interpretation training in the specific industry and field they plan to work in. Some candidates gain a certification from the International Qualification Board for Business Analysis or from the International Institute of Business Analysis.
Analyst salary expectations
According to Indeed Salaries, the average salary for an Analyst in Canada is $69,530 per year. This figure varies according to experience, companies, and location.
Job description samples for similar positions
Other job description samples are available if this is not what you are looking for. Consider these job descriptions for related job titles: