Career Possibilities For A Business Development Analyst

There are many potential careers out there for business development analysts because the role could conceivably perform so many different functions. In the most general sense, a business development analyst is someone who analyzes a company and gives recommendations about how the company can grow or perform better.

In reality, though, most business development analysts specialize in some particular function of a company such as technology or product development. Oftentimes, a business development analyst is hired on as a consultant for a limited period of time. While successful business analysts may earn a lot of money, the job can be stressful because most clients want to see immediate results and analysts must always be on the lookout for new potential clients. Business development analysts need to be good salespeople, especially if they are consultants, and they also need to know the markets they work in inside out. 

Marketing Analyst

Marketing analysts are in particularly high demand with businesses that are looking to grow. This type of business development analyst studies an organization's current marketing strategy and makes recommendations as to how the business could market more effectively, reach a wider audience or market directly to the most likely customers. The analyst needs to be aware of market trends, target demographics and the latest in marketing technologies. These days, a business development analyst who specialized in marketing is likely to be an expert in online presence. This analyst should be able to review an organization's website and make recommendations about how to attract more viewers and increase the frequency with which the business appears in online search results.

Strategy Analyst

Strategy analysts are business development analysts who study a business's practices and make recommendations about the business's future. These analysts often have much broader jobs than marketing analysts. Strategy analysts could consult with a business about financial practices such as whether the business should attempt to take out loans or cut costs. They also could consult about personnel issues, interviewing current employees and determining who is vital to the business and who is redundant. Sometimes strategy analysts advise businesses about products, either on the market or in development. They might recommend release dates for new products that are most likely to result in high sales or they may even recommend changes to existing products. Sometimes, failing businesses will hire strategy analysts to help come up with new business plans to recover. 

Non-Profit Development

Did you know that even non-profit institutions hire business development analysts on a consulting basis? For example, museums will often hire development analysts to advise strategies to increase either attendance or donations. The analysts could complete studies on how to effectively target specific groups of visitors, families with children under ten years of age for example. The analysts could also advise museum directors and curators about how to more effectively campaign for donations. These analysts might recommend that the non-profits develop membership programs or start holding young professionals nights during which new donor relationships can be cultivated. Of course, business development analysts who specialize in non-profit work do not earn as much as those who work with regular businesses.