There have been lot of debate about whether or not a Business Analyst is an extension of a System Analyst profile.
Since I have completed tasks under both these profiles, the major difference that I found was at the orientation of both of these profiles.
A Business Analyst is required to comprehend the business needs from business users and should also have an understanding of how IT can provide solutions that cater to business demands.
A System Analyst is an individual into System Architecture, Configurations, fitment as well as into troubleshooting of programs.
The major distinction is that the Business Analyst interfaces with Business Users while interface with the Software System is secondary while System Analyst's primary interface is with the Software System and might not have direct interaction with the business users.
There are cases where in you will find profile interfaces between the System Analyst and Business Analyst, in some establishments they're represented as IT analyst.
The below statement shows the profile orientation of the profiles.
Business Users System Analyst -----> System.
Business Analysis will require abilities like Analytical Capability, Knowledge of Business domain/Business Scenarios, Documentation capabilities(usage of applicable tools such as MS Visio, RUP models), Capturing of Latent business requirements.
System Analysis will demand a technical skill set concerning experience in technology platforms, Programming Languages, Understanding Program Codes and System Architectures.
Both these components play a critical role in translation of business needs to IT needs, facilitating the implementation of a perfect IT Solution frame for your business issues.