Business analyst vs. Financial analyst

They are responsible for gathering technical specifications and creating solutions that are both viable and functional. Business analysts also have to be able to create business models that can analyze the current technological systems and how a decision could impact operations.

A financial analyst deals with specific financial data and looks at how a business is performing financially. Their job is to ensure that funds are being used for profitable investments and that the financial status of the company is always in positive standing.

They should be proficient in creating financial models. These are their primary tools and are used for budgeting, forecasting, and assessing the cash flow of the company in terms of decision-making and investments.

There are many differences between a business analyst and a financial analyst including education and responsibilities.

Here are the key differences between a business analyst and a financial analyst:

• A business analyst requires a Bachelor's degree in business management or business administration

• A financial analyst requires a Bachelor's degree in finance or economics

• A business analyst uses information from data trends to develop business strategies

• A financial analyst uses financial and economic data to assess the worth of investments and expenses

• A business analyst is responsible for gathering and interpreting data to improve IT systems and business processes

• A financial analyst uses financial data to assess the financial health of the business

• A business analyst must be able to show the challenges that may present to the company

• A financial analyst must be able to forecast the financial health of the company and show the growth of the business