Sunday, July 20, 2014

Business Analysis @ UAE: Expo 2020 & a Business Analyst

Dubai, One of the fastest growing business destinations in the world.  Apart from one of the most favourite tourist destinations in the world, UAE is emerging as the finest business destinations in the Middle East.  Supportive investment climate, excellent infrastructure and easiness of doing business in Dubai makes it’s the most sought after place in the Arabian plateau.

As you are aware, Dubai has been chosen as the venue for World Expo 2020.   A mega boost to the economy for the days to come! Multi billion dollar projects are already announced.  A strong positive sentiment in the business is already visible.  Some estimates show more than 200,000 new employments to be created.  One thing is for sure everything looks very positive.

All these are good.  What are the prospects for a Business Analyst?  What they can expect from this extra ordinary boom period?  How can they better equip with the changing as well as challenging times ahead.

Let’s have a look at some of the most important (prospective) businesses with Expo 2020.  Construction, Hospitality & Tourism and Banking are among the major ones.  Existing businesses has to expand to meet up with the expected large volumes.  New players will emerge with new ideas and business models.  Large players from the Americas and Europe will strengthen their presence with their existing lines of action with an adapted version to suit to this geography.

If you look at the above, one thing is sure, a change is inevitable.  Business houses have to change from what they do today (or they were doing) to a more adapted and competitive ways to thrive their respective businesses.  Technology and social media will play a vital role.  The traditional ways of marketing, sales and customer support will give way to the more contemporary approaches.  In any way if you look at, most of the businesses have to embrace a change whether they like it or not.  In some cases, the change has to be a completely different approach itself.

Whenever there is a change, the role of a Business Analyst is unavoidable.  He who is the one has to do the transition from the existing way to the desired and changed way of doing business.  His skills and ability will determine the smoothness in transition.  His domain expertise, analytical skills along with the understanding of the latest technologies and practices will be the key differentiator.  Exposure to the Business Analysis techniques, methods, and tools will make him stand out in the crowd.  Business Analysis implementation skills and expertise (like Balanced Scorecard) will make him/her the best sought after candidate in the job market. 

One of the latest survey done by a job portal shows that the UAE Job market has shown a whooping 25% growth on year on year between June2013 & 2014. Banking, Insurance, hospitality, engineering industries witnessed the highest growth. In all these verticals, they need more and more sophisticated products and services to ‘be’ in the market.  Need to make a lot of changes and to reinvent the ways and means to doing business to cater the ever-increasing demands from their customers.

So, as a Business Analyst, in my opinion, this is the best time to take the advantage of the market conditions.  Do sharpen your skills and leverage your domain expertise to achieve greater heights.  Mastering Business Analysis wishes you all the very best!

Happy Reading.