What Does an Asset Analyst Do?

Individuals who work as asset analysts are responsible for tracking and ensuring the health of equipment that is essential to an organization's daily operations. It is common to find asset analysts in information technology (IT) departments. These professionals might oversee the design of systems that include a number of pieces of hardware and software. An asset analyst might also be responsible for creating tracking systems that enable them to quickly count and locate a piece of equipment. Many asset analyst professionals also work in fields such as manufacturing, where they are in charge of managing equipment that is necessary for production.

An asset analyst can work for a company full time or for a consultant firm. Companies that are large and heavily dependent on IT systems or complicated machinery often have need for in-house asset analysts. These professionals might work with the purchasing department to choose the best pieces of equipment at the lowest possible cost. They might also communicate with high level managers and executives to learn what an organization needs in terms of equipment of information systems to achieve its goals and which kind of budget they have to spend.

When an asset analyst works for a consultant firm, he or she is contracted by businesses that need solutions for specific projects. For example, if a business wants to improve its business intelligence systems so that it can keep up with its competition, executives might hire an asset analyst for a fresh perspective. Some businesses recruit and contract outside analysts because they don't have the budgets to pay for full time in-house specialists, while others appreciate objective opinions from professionals who are not already invested their companies' success.

In most cases, the work of an asset analyst begins when he or she is given a specific project or problem. For example, an IT analyst might learn that computer and telecommunication assets are dated and that a company would like to invest in new equipment. An analyst might then learn about a company's current rates of productivity and research assets that can improve these statistics while fitting in with a company's current business systems.

If an asset analyst works more closely with inventory of equipment, he or she normally is required for scheduling and performing inspections. This analyst also might implement a tracking system that requires use of bar codes and scanners. An asset analyst is successful if his or her ideas make a business more efficient and reduce costs by preventing equipment from being misplaced or damaged.