London, UK -- (SBWIRE) -- 02/08/2013 -- As Blockbuster and Jessops failed to capitalise on the changing nature of its own market and HMV failed to react quickly to the arrival of music downloading and internet retailing, businesses are now recognising the need for business analysts to help them evolve in the rapidly changing market.
Technojobs reported a 9.8% rise in the number of business analyst jobs posted in January 2013, compared to January 2012. Meanwhile the demand for business analysts has contributed to a 9.4% increase in the average salary of business analyst positions, with the average salary rising from £48,677 in 2011 to £53,268 in 2012.
“We saw similar trends when Woolworth’s went into administration in 2008 and then Zavvi in 2009” said Helen Bayram, Marketing Manager at Technojobs.
On the 27th November 2008, high street legend Woolworths buckled under its debt and went into administration having lost its market share against intense competition over a number of years.
On the same day, furniture chain MFI also announced that it was to go into administration due to financial difficulties with its landlords.
Meanwhile, Virgin Megastores were rebranded as Zavvi following a management buyout in 2007. But the chain later went into administration and closed its stores in 2009.
“Whenever a high profile retailer is forced to call in the administrators, other businesses suddenly seem to take a very keen interest in their business models and revaluate the market forecast” Miss Bayram added.
Like HMV, Blockbusters and Jessops, the general consensus is that these businesses appear to have done too little, too late to keep up with changing times. And that’s precisely the purpose of utilising business analyst skills within a company or organisation.
A Business Analyst, often referred to as a BA, is someone who analyses the existing or ideal organisation and design of systems, businesses, departments, and organisations as well as the markets, consumer trends and many other factors to determine future profitability. Now these specialist IT jobs are becoming increasingly crucial within corporate business planning.
Restructuring specialist Hilco has made millions utilising their business intelligence unit by buying up the assets of failing brands including Woolworths, Habitat, Borders – and now HMV. Hilco has bought HMV’s £176m of debt for a reported £40m.
It’s becoming clear that the internet, supermarkets and a tightening squeeze on living standards represent a fierce combination for many historic business models which will need to rapidly evolve in order to survive and start to thrive again in an ever changing and increasingly crowded market.
For more information visit: http://www.technojobs.co.uk/jobs/business-analyst
Technojobs is a specialist technical job board, serving the IT, Electronics, Engineering and Telecoms sectors since 1999.