Business Understanding This one seems obvious, but it doesn’t mean simply understanding the financials of a business. Rather, it means truly knowing the operational details, the incentives, the install base, market growth, penetration, the competition, etc. An analyst can’t just know the technical aspect of a report or the math behind the numbers, but what is truly driving a pattern in terms of product quality, competition, incentives and/or offerings. The best analysts are able to mathematically isolate the key levers of a trend and then suggest actions to react to or take advantage of those trends. Ability to Synthetize and Simplify This is, in my opinion, the most underrated and underappreciated skill. Combing through thousands of data points and netting out 3-4 key issues in under 10 minutes, and then communicating these to a group of execs with very different analytical skills, is truly difficult. The key is to make it simple but not simplistic, which means you still capture the complexity even as you get to the few core insights. It requires a very thorough effort to gather all the relevant information before categorizing, prioritizing and deciding if it is significant. After a while, you become an expert and can sniff things out quickly. At the same time, there is the danger of missing anomalies when you jump to conclusions based only on a summary look.