“At least 40% of all businesses will die in the next 10 years… if they don’t figure out how to change their entire company to accommodate new technologies.” John Chambers, Cisco
In any digital transformation, the crucial first step is understanding current business operations and having a clear future vision. This falls on the business analyst, a pivotal role that supports smooth transitions into using new technologies.
While core responsibilities remain predominantly consistent across industries, variations occur based on specific projects and team dynamics.
Digital transformation extends beyond technology, demanding a shift to challenge norms and embrace modern practices. A business analyst interprets organisational data, making decisions with profound implications.
Their responsibilities encompass analysing business possibilities, data collection, recommending management methods, documentation creation, team building, and more.
This article explores how a business analyst's key responsibilities adapt to meet the digital transformation needs of five major industries.
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The manufacturing sector has seen a significant influence from digital transformation initiatives. The results of these initiatives are improved factory safety, quality, throughput, efficiency, revenue, and sustainability.
The effects are significant, but this change is necessary to stay up with changing client needs and fierce competitors.
As in all industries, a BA's main responsibility in the manufacturing sector is to interpret a company's needs and realise its potential.
You might wonder what exactly are the key digital transformation objectives of large technology companies?
According to a KPMG report entitled Transforming the Transformers, which explores how tech companies are accelerating their own digital transformations, artificial intelligence is the most popular technology.
The Internet of Things and robotic process automation (RPA) is tied for second, and cloud, drones, e-commerce platforms, and video/collaboration technologies are all tied for third.
The report explains that AI enables tech companies to analyse everything from altering client behaviour to streamlining supply chains faster and more intelligently. Servers are populated by fresh, frequently unstructured data on customers and business processes thanks to IoT devices and sensors.
Robotic Process Automation gives businesses a point of entry into digitalisation that frees workers to concentrate on more strategic tasks while boosting efficiency and productivity when business models and financial forecasts change.
In the tech sector, the analyst plays an important role in the drive to research and implement these digital transformation initiatives. They must work with different kinds of analysts (system analysts, data analysts, data scientists) to understand the technological problems and organisational difficulties their technology company is facing.
Analysts then play a key role in determining the best course of action to implement new systems.
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The pharmaceutical sector is no exception to the digital and retail trends facing other industries and is continually challenged with new issues as markets become more crowded and competitive and as consumer expectations change over time.
Guaranteeing commercial success is no longer as simple as having a strong medical clinical profile. Pharma firms now need to learn how to not only launch and sell their products, but also design and manage digital and hybrid experiences.
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A variety of factors, many of which have been amplified by the pandemic, have been changing the retail industry in recent years.
These factors include:
Retailers can improve performance across the board with the help of a clear strategic digital transformation roadmap, but most companies haven't advanced enough digitally and are subsequently losing out on opportunities as a result.
Only a small number of retailers have created real multichannel products, exploited data at scale, and incorporated agile working practices across their entire organisation.
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The transition from in-branch banking to online and digital services is vast. Integrating digital systems, new customer experience platforms, apps, and infrastructure, are some of the key components of the sector's digital transformation objectives.
Blockchain, artificial intelligence (AI), cloud computing, machine learning, and the acquisition, management, and analysis of customer data are some of the technologies that are currently being implemented.
With the rising prevalence of FinTech solutions, the sector is being disrupted, attracting regulators' attention, and prompting stricter regulatory standards.
To avoid potential financial consequences and reputational damage, banks and financial institutions have to keep on top of their compliance requirements. They must constantly monitor and update their operations making business analysts essential to this sector.
Analysts in finance are in charge of analysing and interpreting financial data for organisations. They collaborate with a wide range of stakeholders, including accountants, auditors, bankers, and other finance professionals to assist businesses in making sound financial decisions.
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At Cambridge Spark, we offer a Level 4 Digital Business Analyst apprenticeship programme. Over 13 modules, learners will cover everything they need to become a Business Analyst. They will have a special focus on digital transformation, equipping them with the skills they need to identify and deploy data-driven solutions within their organisations.
Better still, all of our apprenticeship programmes are publicly funded through the UK Apprenticeship Levy meaning that there is no extra cost to your organisation.
If you or members of your workforce are interested in any of our programmes, let us know by using the form below. Our team will be in touch with more details on how your team can get started on your digital transformation.