Domain Knowledge Business Analyst

The questions from many of my juniors who want to become banking business analysts has prompted me to consolidate all my know how about the banking domain and also the banking business analyst career into one huge resource a book entitled banking domain knowledge for business analysts.

Domain knowledge business analyst. A business analyst must have a knowledge of the domain he is working in as it will help him better understand the business case of the project its background and see how it s meant to solve the domain specific. Individuals can enter the field either with knowledge of a specific business domain such as workflow billing or customer relations or with knowledge in an industry such as finance telecommunications or government. There are many transferable skills to working as a business analyst and the role of a business analyst is wide ranging.

Domain for business analyst will be like e commerce banking finance crm auctions health care logistics supply chain etc. Not to mention the scope and opportunity are endless in the business analysis domain. In order to be truly successful as a business analyst you undoubtedly need certain skills in addition to a thorough professional and technical knowledge and experience.

Insurance domain knowledge helps you establish credibility with insurance business users from the front line agency staff through to the policy administration and claims personnel. It includes those skills and techniques typical of the business analyst ba job description and that set the ba apart from other roles typically project managers on one hand and designers or solutions architects on the other. Project managers should know project management plus a bit of management plus a bit about the industry they are working on and for anyone involved in it plus a bit about software development.

Business analysts like it project managers should have a couple of knowledge domains under their belt. Majority of software companies will not work on all domains. Fair ideas of it processes.

A forecast on the future of business analyst. And every project belongs to a domain. A domain is a specific area of work like insurance banking infrastructure healthcare etc.

As organizations are following data driven analysis so in most of the cases business analyst role is mixed up with data. Just like banking domain knowledge is crucial for the banking business analyst insurance domain knowledge is important for the insurance business analyst. The business analysis domain is unsurprisingly the most important skill knowledge domain for a business analyst.