Many businesses, corporations, and companies are now heavily investing in business intelligence to better understand market trends and how to enhance their offerings. They use it to understand customer needs and how best to serve them, which is evident in the rapid adoption of business intelligence. If this field interests you, then you’ll want to know more details about what is a business intelligence analyst and how to become one. Read on.
What is Business Intelligence?
Business intelligence refers to a collection of procedures, systems, and technology that transform raw data into relevant information that drives successful business decisions. It is a collection of tools and services designed to turn data into actionable insights and knowledge. Business intelligence directly influences strategic, tactical, and operational business choices in organizations. It allows for fact-based decision-making based on previous data rather than assumptions and gut instinct.
What Does a Business Intelligence Analyst Do?
What is a business intelligence analyst’s daily routine like? A business intelligence analyst collects data, analyzes it, and shares it with the organization. The process may include:
This involves gathering business intelligence data from various sources, such as industry studies, public information, field reports, or purchased findings. This might include learning about significant technological developments or developing markets in your sector and obtaining data on customers and the market.
Apart from storing the company’s data in the database, you may also need to develop operating processes for using the database and provide technical assistance or software maintenance for any special programs.
This part of the job involves analyzing data to identify trends that could impact business strategies.
They use the data to back up recommendations for action to help the business improve or grow.
Finally, they prepare analytical reports to summarize results and distribute them to relevant corporate stakeholders via existing communication channels.
How to Become a Business Intelligence Analyst?
Wondering what is a business intelligence analyst’s career path? There are five steps you can follow to become one.
Step 1: Earn a Degree
Undergraduates should seek degrees in information systems, computer science, data science, business administration, engineering, economics, or an area linked to business processes and organizational operations.
Step 2: Get an Internship
Consider a position as a data analyst, business analyst, or data report writer when you graduate. Look for opportunities to query SQL, model and analyze data, and create and manage project scope in these professions.
Step 3: Acquire Certifications
Microsoft Certified Data Analyst Associate is the most significant professional credential for business intelligence analysts. This certification validates your ability to develop and use SQL to offer data-driven solutions.
Step 4: Apply for Business Intelligence Analyst Roles
You can apply for business intelligence analyst roles after acquiring the essential abilities, obtaining work experience, and becoming properly certified. In addition, you will need to have an average of four or five years of work experience, while some positions may demand up to eight years.
Step 5: Pursue an Advanced Degree
A Master’s degree in Business Administration (MBA) is desirable even though it is not always needed if a candidate has relevant job experience and professional qualifications. You can also earn a master’s degree in information technology or in an area where you wish to specialize.
Business Intelligence Analyst Skills and Qualifications
- Excellent communication
- Leadership abilities
- Critical thinking
- Database design and architecture
- Data mining and analytics
- Programming languages like R, SAS
- Data visualization
Business Intelligence Analyst Salary
According to Glassdoor, the average salary of a business intelligence analyst in the United States is $88,650 per year, with an average additional cash compensation of approximately $6,000.
Business Intelligence Analyst Experience Requirements
A minimum of four years is required to become a business analyst. To get appropriate entry-level experience, you must finish at least a bachelor’s degree and an internship within this period. However, it may take longer for senior positions, for which you need to earn a higher degree, such as a master’s, gain relevant job experience, and obtain professional certifications.
Is Business Intelligence a Good Career?
Career pathways in business intelligence can lead to almost every aspect of company operations, in most forms of business, and in almost every industry. BI employees often express excellent job satisfaction and work-life balance. The great demand in the business correlates to solid job security and competitive pay. And it typically provides a significant level of flexibility regarding working conditions. Start to upskill yourself for a career in this field by choosing from the wide array of courses on business analytics on Emeritus.
By Siddhesh Shinde
Write to us at content@Emeritus.org