In today’s scenario of complex business environment due to high competition, frequent disruptions in business, fast evolving technologies and high customer expectations, I would recommend all companies must have few business analysts. An article published by Economic Times on 17-Feb-2016 indicates that India has 10.76 lakh registered active companies. This number does not include government departments, NGOs, startups, and companies in the unorganized sector.
Assuming that India represents median on the entrepreneurial spirit, which represents one fifth of the world population we can estimate that the total number of registered active companies in the world would be around 53.8 lakh (5.4 million) companies. Though there is no accurate figure on the total companies in the one estimate (http://www.nationsencyclopedia.com) shows that there are 45 lakh (4.5 million) registered companies across the world. And this estimate takes into account only 80 countries out of 193 countries in the world. By today’s calculation, if each company wants to have one business analyst on their roll then we need a minimum of 54 lakh business analysts.
A search in LinkedIn on 12-Nov-2017 for the key word “business analyst” gives a result of 13.65 lakh, meaning that the key word business analyst is in 13.65 lakh profiles. We need to understand several factors while taking this figure. One, it is not necessary that all the business analysts are in LinkedIn (under estimate). Second, not all the profiles listed here need not to be a business analyst now, meaning their past title is business analyst (over estimate). If we assume that this under and over estimate negate each other, we can safely assume that we have about 13.65 lakh business analysts in the world.
If each company want to have one business analyst then the minimum number of business analysts required in the world is 54 lakh and the current number of business analyst is 13.65 lakh, which is a mere 25% of the current requirement. But the fact is some of the companies are having more than 1000 business analysts in their rolls. The actual requirement will be so huge in the coming years.
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