The demand for business analyst jobs is growing rapidly since HMV, Blockbusters, Jessops and Republic have called in the administrators reports Technojobs.

Technojobs reported a 10% rise in the number of business analyst jobs posted in January 2013, compared to January 2012. Meanwhile the rising demand contributed to a 9.4% increase in the average business analyst salary, which rose from £48,677 in 2011 to £53,268 in 2012.

It is thought that as HMV failed to react quickly to the arrival of music downloading and internet retailing, while Blockbuster and Jessops failed to keep up with the changing nature of their markets and Republic lost out to stiff competition from competitors, businesses have once again recognised the fundamental need for business analysts to help them evolve in a rapidly changing market.

Similar trends were seen in 2008 when high street legend Woolworths buckled under its debt and went into administration, followed by MFI on the same day and Zavvi (formerly Virgin Mega Stores) in 2009, which also coincided in a fresh demand for business analysts.

The purpose of a business analyst (BA) is to analyse the organisation and design of systems, businesses and departments, as well as the various markets, consumer trends and other factors to determine future profitability.

Because the internet, supermarkets and a tightening squeeze on living standards represent a fierce combination for many historic business models these specialist IT jobs are becoming increasingly crucial within corporate business planning.

Restructuring specialist Hilco has demonstrated that there is money to be made, having made millions in buying up the assets of failed brands like Woolworths, Habitat, Borders – and now HMV.

Meanwhile the exodus to the internet continues as consumers seek better prices and companies aim to reduce their overheads and escape the shrinking high street market.