As we know, businesses are of various types and cater to many industries, across sectors. The sectors could be pharmaceutical, health care, insurance, finance, banking, mortgage, accounting, financial budgeting and controlling, bonds, medical insurance, etc. The fact remains that a Business Analyst (BA) is needed in all sectors of business and this is because every projects has an initial stage which needs handling by a good BA to make the implementation possible and smooth. So irrespective of which industry we talk about, Business Analyst is always required and so this goes on to say that a Business Analyst will always find work somewhere and there are rare opportunities of him being out of a job.
Having established that the future of a Business Analyst is reliably secure than other jobs, it also shows that a Business Analyst could possibly be secured from the economies of recession, as seen recently the world over. Since all businesses require thinking of new ways to survive the recession and to keep their socks up, what is required is a complete analysis of the business keeping in mind, the changed scenario in economic terms, and the changed dynamics of the supply and demand functions in the particular sector. A business analyst is a person who is an asset in his organization due to his knowledge of both – the technical know-how that is known to the software developers of the field and the understanding of the sector dynamics as known to the management professionals in the field.
In the scenario, of dearth of projects owed to scarcity of clients, (a typical recession scenario) a BA may not be in the position to use his technical know how in the occasion of no project to use it on. In this case, his product knowledge which refers to the field of working (could be Insurance, health care, pharmaceuticals, bonds, fixed income products, or any other sector), could help him save his job. Also, if needed, he can also apply for other managerial level jobs in other companies in the same sector, since he does not have the required information and knowledge of the working of the sector. This part of the job of a Business Analyst can hold him in good stead elsewhere too. Is not that a great plus point for a Business Analyst? If ever required, his knowledge of the sectors he is involved in can help him get a managerial level job in other companies in those sectors!
A business analyst always has to know both sides of the coin to be a good business analyst. By both sides of the coin, I mean, knowledge of the working functional processes in the industry the project is from, and the technical knowhow of how exactly the project will be handled by the team of software developers working on that particular project. Knowledge of the working processes will help him understand the client who is also the end user's expectations better and knowledge of the technical know how will help him understand the possible dilemmas of the software developers' team. This way he can draft the client expectations into the technical requirements more efficiently.
So, no matter, how the coin flips, it lands safely in his hands.