Business Analyst vs. Financial Analyst Essay

psychoanalyst is an essential job in our society. They make analyses to help people figure a instruction problems, and point out a positive way to solve problems. Analysts almost apply in every different professional area, such as governmental psycho analyst, military analyst, and economic analyst. They abridgment all development with their professional knowledge, and then translate a certain language which everybody cornerstone understand easily. For example, social analyst can use their knowledge to analyze current social problems and provide a useful analysis to government or city hall. Then, people can understand what happen to their society. Therefore, analyst is a necessary job for our society.For duty corporations and companies, there are two important analysts for them. They are business and financial analysts. galore(postnominal) people, including employers and employees, dont know what these two analysts are exactly, and what different between them. However, they do exist, and they do help a corporation or company shape more efficient and profit adequate. In other words, they play important roles in business activities. In general term, business and financial analysts cod different comment for their position, different be givening area, and different training path, but they have the same goalto help users have better business condition.According to Julia Scholz, who is a prosperous business analyst, she said a business analyst is like a road trip planner, helping people plan their map and travel guidebook (P.1). She says, a BA will help a user determine their wants, focus on a destination or desired outcome, outline practicable maps of how to get there (P.1). Simply, business analyst is a communicator or translator to translate what employer wants to their employee. They gather all information from boss, employee, and extraneous world, and plan an efficient way to get their goal. It is not easy to be a equitable business analyst. Scho lz lists more or less steps that her term and she do everyday to help successful advise1.Listen to the users the most important t remove for business analyst is findout users demand. What do users desire for? What kind of outcome do they ask for? In what way they hope to achieve their goal? And some suggestion to their employee to improve whole companys operation. These things are important for business analyst qualification analysis.2.Document when a business analyst listens to their users, they need to record and write down all they get from users. They may use com institutionalizeer or fipple pipe to record users words. Then when analysts do analysis, they can use this information quickly and easily.3.Gather information a good analyst also needs to do some outside research to determine all possible ways to achieve goal. They need to know current business situation and economic trend because outside activities would affect their analysis and strategy.4.Translate and analyze it is the key part for a BA. According to Scholz, a good analyst should be able to listen to the users, analyze their requests, document the requests and then communicate these requests to the development group in a way that the development group can understand (P.3). Most employers dont have chance to speak to employees directly. So the business analyst plays a channel to communicate both employers and employees, and to coordinate both side to achieve final goal. So the job of business analysts is not only making analysis but also communicating requests to each side.In conclusion, Scholz states that, BA is like a translator, able to communication in a users language and a developers language (P.3). So a business analyst should have good communication skill in order to translate users requests to developing department. A BA also may be involved in these area Data Warehouse, E-Commerce Development, New application Development, New Business Development, Software Package Selection, Soft ware Package Customization, Business Process Improvement (B2Ttraining program P.1). A BA needs to have certain knowledge of these areas to be able analyze all business event and situation.Financial analysts are very correspondent to business analysts. Financial analystsalso need to gather information and makes analysis. They also help a corporation or company makes more benefits and profits. However, financial analysts work in different aspect and way to achieve users goal. Generally speaking, their goal is to maximize the value of the company. They are just like a doctor. They fancy the whole financial condition of a corporation or company, and figure out the virus (bad strategy or financial policy). Then making a good description to improve bad things (making better financial condition). The information that a financial analyst needs to know is like working(a) capital, account payable turnover, and EPS. A FA needs to know the potential of a company and forecasts the financial n eeds of the company.In advance, FA can make a condition financial plan to the company. Compare to business analysts, financial analysts consider more about the value of company stock. So when they make financial analysis, they will put market value and stock price at the first place. Financial analysts also require communication and computing device skill. They sometimes need to present their analysis in front of the chiefs of all departments, and they also need to operate some accounting software to figure out the value of the company. Totally, the job of financial analysts is to examine the financial system of the company, analyze both good and bad side, gather outside financial situation, and make a forecasting financial plan. Similar to business analysts, they try to help a company operate more efficient and profitable.In fact, business and financial analysts are very similar. They both gather information from inside and outside the company. They both make analysis form the in formation, and help users to improve users business condition or business competence. They both use computer to help them achieve their tasks. However, they have different aspects to make their analysis. One is emphasizes on whole system of the company and plan a good road to achieve users requests another is emphasizes on the financial condition of the company and make forecasting financial plan. Generally, they have different ways but the same goal.Reference1.Scholz, Julia. What do you analyze? One Analysts Viewhttp//www.google.com/search?q=cacheJRtp_0y5V4kwww.businessanalyst.com/BusinessAnalyst.htm+business+analyst&hl=zh-TW 2001/10/102.B2T training. What is a Business Analyst? http//www.b2ttraining.com/BAwhat.htm 2001/10/10.3.Ross, Stephen A. Fundamentals of Corporate Financial. Toronto McGraw_hill Ryerson 1999. P. 8-10.