Did you know that many successful business analysts are not studying at college level. If they do so was not in the field of business but technology. A business analyst can still earn a degree. There are many class certification that can be followed by a business analyst. Most of the successful business analysts learn from experience not from books.
A good business analyst have had previous experience specifically in the business world with various problems or trouble shooting. They will be able to assess a business proposal or project that is profitable and should be done and needs required only by reading the data collected. A textbook can not help a business analyst to say what needs to be prepared and an assessment of the proposed project. Only experience in the business who can do it.
Minimal education can indeed be a major drawback when someone is engaged in the business world. Many of them who studied business management. Also there are a lot of diplomas issued each year for business majors who have good and promising prospects. But when you become a business analyst all the rules will be changed and different from what you learn. Although the title can help, but the title does not necessary, because experience is the key to success for being a business analyst.
A good business analyst will understand the concept, would know if there is something wrong when they began researching problems reported by management. Maybe just a simple solution like adding a specific code for revise the existing facilities and infrastructure. There are also projects that require a more extensive analysis to determine and lies the problem and how to fix it. A savvy business analyst will be able to think about and plan actions to make it successful.
The leading business analysts will be able to speak with management and stakeholders to listen to what the problems and solutions which probably can be done. These problems may or may not be the root source of conflict. Business analyst must able to determine this. Business analyst must be able to embrace the information from management team to gather information required to seek the truth. Business Analyst will also be able to talk with other users or direct users which know more about the implementation of the program. Being a bridge this is a real function of a business analyst, and never miss the slightest thing.
So in conclusion, whether one needs a degree or license to understand business issues? No. Do the business degree helps to have an understanding of business? Yes. Degree will look great on a resume and portfolio. But the experience and solving the problem will be far more valuable than a piece of paper diploma.