Operations analysts are the professionals who advise an organization on how to optimally use resources, people, time, money, materials, processes and equipments to increase operational effectiveness. The career entails using advanced quantitative methods, information technology & analytical methods to help solve business problems and make better decisions. They may be employed in virtually every sector, financial, healthcare, manufacturing, information technology, etc. Operations analysts, also called as research analysts, first examine an organization's daily operations & resource allocation and use their mathematical & statistical knowledge for devising strategies on process improvement. As the job involves heavy use of quantitative analysis & statistics, they must arguably possess good numerical aptitude as well as logical ability to synthesize information and arrive at an appropriate course of action. The career is a great choice for people who are good at advising and enjoy developing innovative solutions to complex problems. With companies seeking cost and time effective measures, operations analysts are undeniably in demand by most large organizations.An operations analyst has the following main areas of responsibilities:
- Observe and study current systems, use and allocation of resources, materials, money and time
- Collect data, audit files for the purpose of analyzing management and organization practices
- Collaborate with senior managers for problem solving and clarifying management objectives
- Develop strategies and plans with respect to project estimates, resources cost and time
- Formulate mathematical models or through simulation in effort to create solutions
- Prepare reports, evaluate models and recommend solutions for process improvement.
Salaries and Job Outlook*
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Operations analysts are employed by most large organizations in both public and private sectors. Virtually every industry needs their expertise. The job outlook for operations analysts is bright and the demand for them is high in all such industries that focus on saving cost and time. They may choose to work on full-time or on contractual basis in any of the industries like, manufacturing & services firms, management consulting firms, research institutions, healthcare, colleges & universities or government departments.The salary of operations analysts are influenced by a number of factors such as, level of education, experience, size and nature of industry. The average salary ranges from INR 3.2 lacs p.a to 3.5 lacs p.a.
Education and Training
A bachelor's degree is the minimum qualification needed to become an operations analyst. However, most senior positions among employers require a master's degree in computer science, mathematics, statistics, operations research & economics. Some jobs require prior experience, training and extensive knowledge of up to three years. On -the- job training is mostly provided while working in related professions or internships.
Valued Traits & Abilities
Job opportunities for operations analysts are particularly bright for those with doctoral or PHD degrees. Some of the highly employable sectors for operations analysts are finance & insurance, computer systems, manufacturing, management consultancies and government departments like defense. Technological advancements have made them more employable, affordable and applicable to a wider range of areas. Most operations analysts begin with entry level positions as junior analysts and upon gaining experience, responsibilities & aptitude are promoted to project or team leader positions. Operations analyst with experience can also choose to be self employed or work as management consultants on contractual basis.Career options are varied for qualified and experienced operations analysts. Some of the opportunities for them are:
Market Research Analyst
Market research analysts use market intelligence and study market conditions to help businesses to make decisions and set priorities. These decisions could be related to understanding what products consumers need, product features or services that are desired. They gather data, create reports, questionnaires, opinion polls and market surveys in their research process.
They are also called as system analysts who research how IT systems are used and look for ways to optimize operational efficiency. IT analysts use modeling, information engineering and cost based accounting techniques in order to implement cost effective solutions or design a new systems best suited for the business.
The role of an operations manager encompasses a wide area of duties to ensure the smooth operations of various processes, systems and policies used in the organization. They have the responsibility for overseeing all the activities that contribute to the effective production of goods and services. Purchase, administration, use of resources and personnel are some of the broad areas of responsibility under their purview.
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