Dive into the dynamics of business performance: what it means, why it matters, and what jobs help a business succeed.
Understanding the ins and outs of how a company is running is imperative to its success, and numerous business performance jobs are available where you can contribute valuable insights to help measure how well a company is performing. The process of tracking business performance helps companies be aware of the areas in which it is succeeding and areas that need improvement. Business performance incorporates several ways to evaluate businesses, including critical success factors (CSFs) and key performance indicators (KPIs). These two factors are key to tracking the success of a business and identifying issues in significant departments that keep companies running smoothly, such as sales, marketing, finance, and human resources.
Many factors contribute to the success of a business, which is why tracking company performance in different sectors is imperative. In order to determine the success of a business’s performance, it is important to rate each area of the company using quantifiable measurements that will help you determine what is productive. By evaluating all aspects of a company regularly, you can make decisions and instigate any changes based on the information you acquire. If you are considering pursuing a career in business performance, read about five jobs where you can measure performance in a specific area to help a company achieve its goals:
Average annual US salary (Glassdoor): $93,883 [1]
Job outlook: 11 percent annual growth [2]
Requirements: Bachelor’s degree and some professional experience, but a master's degree or a business analyst certification may be helpful for career advancement
The primary goal of a business analyst is to analyze data and determine what actions need to be taken for the optimal performance of a company. In this role, you would address potential issues by assessing a company’s data and methods, addressing any changes or improvements to consider, and implementing and monitoring all changes for effectiveness. You’d act as a liaison between IT teams and management to brainstorm practical fixes for any potential issues found in the company’s data that will help reduce costs and help the company run smoother.
A career as a business analyst requires universal skills that can easily be applied to many industries, products, and projects. Not only do you need to be an impeccable analyst, but you also need to be able to communicate your findings clearly. Being a team player allows you to build trust, encourage creativity, and encourage teams to work together.
Average annual US salary (Glassdoor): $79,427 [3]
Job outlook: 9 percent annual growth [4]
Requirements: Bachelor’s degree, with some organizations preferring a master’s degree
Financial analysts research a business’s past financial history and offer an overall financial strategy to help them maximize their profit. In this role, your job would include using past and current company financials to recommend individual investments and portfolios, determine its value, and gain insight into the business’s prospects by meeting with company leaders. You would also take into account business and economic trends to analyze financial data in order to provide potential forecasts for the company.
In addition to a bachelor’s degree, financial analysts need the experience and skills to work with large databases, spreadsheets, and financial software, as well as proven modeling skills in analytics and financing to recognize business outcomes and profits. Some companies may be looking for financial analysts who are problem solvers, helping to rectify specific issues related to the company's finances. While the description varies depending on the industry or company you are working in, the main role of a financial analyst is to analyze a company's finances to advise them on their overall financial strategy.
Average annual US salary (Glassdoor): $100,353 [5]
Job outlook: 1 percent annual growth through 2029 [6]
Requirements: Bachelor’s degree or higher and experience and skills in performance management systems
Generally, traditional employee evaluations review how individual workers are doing in their roles, while performance managers are the ones who create a system for employees to ensure they have a clear idea of their expectations and goals. In this role, you would work closely with individual employees, as well as teams, to provide guidance and coaching, usually during a one-on-one meeting, so you can understand each employee’s strengths and weaknesses and overall career goals. Identifying how each employee is performing and helping them reach their full potential within the organization creates an environment of continuous improvement for the company as a whole.
An important role of a performance manager is offering ongoing feedback. Whether formal or informal, feedback is a great facilitator of motivation. By showing employees what you expect of them in their roles and what they have accomplished, they can recognize areas of improvement. A performance manager's responsibility is to communicate with company stakeholders to inform and engage them in the performance management system, ensuring their approval. They also manage the expectations and feedback from the stakeholders so everyone is working toward the same known goals.
Average annual US salary (Glassdoor): $78,042 [7]
Job outlook: 4.2 percent growth between 2023 and 2033 [8]
Requirements: Bachelor’s degree in business management, business administration, or a related field
Operations managers are in charge of a wide range of business functions that ensure all departments are running smoothly and are working to meet the company’s goals. In this role, you’d be responsible for overseeing administrative employees, ensuring good communication among departments, and finding ways to improve business. Your primary objective is to ensure long-term profitability by looking for areas of improvement and implementing changes, working with quality control teams, working closely with human resources to implement practices, managing inventory and finances, and creating reports to help the company’s leaders stay informed on which processes are working and which ones may need improvement.
Because operations managers are responsible for creating and implementing ways to optimize the efficacy of their business, communication and organizational skills are required. Being able to communicate ideas to different employees, managers, and departments is a skill that is used on a daily basis. Other important strengths to have include leadership skills to motivate employees, the ability to problem solve in challenging situations that require innovative solutions, and the competence to delegate to other team members when necessary.
Average annual US salary (Glassdoor): $115,716 [9]
Job outlook: 36 percent growth between 2023 and 2033 [10]
Requirements: Bachelor’s degree with some employers requiring a master’s degree or a doctorate and experience with big data analytics and programs such as SQL, R, and data mining
A data scientist uses data to help companies make decisions. As a data scientist, you would deal with every aspect of data, including overseeing the collection, storage, and interpretation. You would rely on advanced technology to use the information to find patterns that help companies make decisions and solve problems. It requires statistical thinking, quantitative reasoning, and skills in computer programming. You might also help companies make decisions by working with existing data from different departments to determine if current processes are working. If they need improvement, you can find information to help the department or business run more effectively through quantitative or qualitative data.
Data science is a quickly growing sub-field of computer science. Today, organizations across the globe employ data scientists, including tech start-ups, government agencies, and research institutions. One of the most common industries for data scientists to pursue a career in is technology and engineering, and it is gaining popularity in health and life sciences, financial and professional services, and primary industries and manufacturing. As data becomes more easily accessible to businesses, data scientists have various career paths from which to choose. `
Business performance is key to a company’s profitability and growth. Many careers are available to aid in business performance for a company in various areas, depending on your preference, experience, and skills. To find a career path in business performance, check out relevant courses on Coursera, such as the Microsoft Power BI Data Analyst Professional Certificate, where you can build job-ready skills and must-have AI skills for an in-demand career. You can also explore the Business Analytics Specialization from the University of Illinois Urbana-Champaign, where you can learn to obtain, manage, analyze, and visualize data for strategic decision-making. You can also obtain a certificate through
Glassdoor. “How much does a Management Analyst make? https://www.glassdoor.com/Salaries/management-analyst-salary-SRCH_KO0,18.htm.” Accessed November 4, 2024.
US Bureau of Labor Statistics. “Management Analysts: Job Outlook, https://www.bls.gov/ooh/business-and-financial/management-analysts.htm#tab-6.” Accessed November 4, 2024.
Glassdoor. “How much does a Financial Analyst make?, https://www.glassdoor.com/Salaries/united-states-financial-analyst-salary-SRCH_IL.0,13_IN1_KO14,31.htm.” Accessed November 4, 2024.
U.S. Bureau of Labor Statistics, “Financial Analysts: Job Outlook, https://www.bls.gov/ooh/business-and-financial/financial-analysts.htm#tab-6.” Accessed November 4, 2024.
Glassdoor. “How much does a Performance Manager make?, https://www.glassdoor.com/Salaries/united-states-performance-manager-salary-SRCH_IL.0,13_IN1_KO14,33.htm.” Accessed November 4, 2024.
Indeed. “How to Become a Process Improvement Manager, https://www.indeed.com/career-advice/finding-a-job/how-to-become-process-improvement-manager,” Accessed November 4, 2024.
Glassdoor. “How much does an Operations Manager make?, https://www.glassdoor.com/Salaries/united-states-operations-manager-salary-SRCH_IL.0,13_IN1_KO14,32.htm.” Accessed November 4, 2024.
U.S. News. “Business Operations Manager Overview, https://money.usnews.com/careers/best-jobs/business-operations-manager#.” Accessed November 4, 2024.
Glassdoor. “How much does a Data Scientist make?, https://www.glassdoor.com/Salaries/united-states-data-scientist-salary-SRCH_IL.0,13_IN1_KO14,28.htm.” Accessed November 4, 2024.
U.S. Bureau of Labor Statistics. “Data Scientists: Job Outlook, https://www.bls.gov/ooh/math/data-scientists.htm#tab-6.: Accessed November 4, 2024.
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