Business Intelligence Analyst – Business intelligence is the process of using analytics to improve business performance and make informed decisions. This blog post explores what a business intelligence analyst does, including their responsibilities and the technology used for their work.
Learn About Being a Business Intelligence Analyst
What does a business intelligence analyst do?
Business intelligence analysts are the lifeblood of any business, as they are responsible for creating and analyzing the data that will determine how well a company is running. From helping companies make important decisions to creating predictive models, business intelligence analysts have a wide variety of tasks to complete.
But what exactly does a business intelligence analyst do? Here is an overview of the main tasks, duties, and responsibilities that come with being a business intelligence analyst.
A business intelligence analyst’s main role is to analyze data to identify areas where an organization can improve. They also gather and analyze data to provide solutions to potential organizational obstacles. Other tasks may include:
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Regularly evaluating the company’s resources to ensure progress toward goals
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Keeping the business intelligence tools and the company’s databases updated
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Developing strategies for business intelligence and data gathering
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Analyzing competitors and their use of business intelligence
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Successfully communicating their findings to the company’s upper management
Business Intelligence Analyst Salary
Business intelligence analyst is a position that is not only in great demand but also offers high pay. The salary for business intelligence analysts ranges from $58,000 to $124,000 annually. You may be wondering how much you need to make as a business intelligence analyst. Well, it all depends on what level you want to work at and the experience that you have under your belt. If you’re interested in working as a business intelligence analyst, here are some factors that can influence your salary.
The journey to success can be a difficult one, but it’s not impossible. By using the right tools and taking advantage of innovative ideas, you can achieve your goals and succeed in life. One tool that is used by many successful people is business intelligence (BI). Business intelligence is the process of gathering data and organizing it into meaningful information. BI helps businesses make critical decisions while also providing insights on market trends.
One thing you may not know about business intelligence analysts is what they actually do on a daily basis. What skills are they required to have? What skills are they most important for them to have? What specific tools do they use? And how much money do they make per year? The answers to these questions lie below!
Average salary
Most business intelligence analysts work full-time salaried positions, though some work on a contract or part-time basis. Salaries for business intelligence analysts depend on several factors, such as education level, amount of experience, the size of the company and the geographical location.
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Common salary in the U.S.: $89,651 per year
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Some salaries range from $27,000 – $188,000 per year.
Business intelligence analyst requirements
Business intelligence analysts often have a combination of education, training and certifications that help them excel. There are several soft and hard skills they should develop as well.
Education
Business intelligence analysts need at minimum a bachelor’s degree in statistics, computer science, business administration or a related field. Many business intelligence analysts choose to earn a Master of Business Administration to pursue a wider range of opportunities and increase their earning potential. An MBA may also act as a substitute for experience requirements for some companies.
Training
Many companies prefer candidates with some experience in the IT or business industry. Business intelligence analysts often gain on-the-job training through entry-level positions or internships with an organization. Experience as a data or business analyst can prepare an individual for a career as a business intelligence analyst. Business intelligence analysts may also receive training on specific software and computer programs a company uses.
There are many conferences and seminars business intelligence analysts can attend as part of off-the-job training. Conferences pertaining to business intelligence and analytics can help analysts learn more about industry trends and the most updated practices.
Certifications
The most important part of a business intelligence analyst’s job is the technical aspect, so certifications for skills such as SQL, Oracle or a programming language like Python are all helpful. These certifications demonstrate a candidate’s foundational or advanced knowledge in a specific program or language. Earning certifications can help meet more job requirements and increase a candidate’s earning potential. To earn many of these certifications, applicants must pass an online exam and may need to renew the certificate regularly.
Skills
Since a business intelligence analyst should be able to evaluate large quantities of data and successfully report the results, they need a mix of hard and soft skills:
Communication
Business intelligence analysts usually gather and communicate information to coworkers and clients in simple, non-technical terms. They should have strong communication skills in order to convey the results of their analysis effectively. Business intelligence analysts should also be able to actively listen to customers and coworkers so they can create reports and solutions based on their requests.
Problem-solving
Business intelligence analysts specialize in identifying potential risks in organizations and finding solutions. Management and customers expect to receive a variety of detailed plans that can help improve a process or reduce risk. Excellent problem-solving skills allow analysts to review all aspects of a situation and create effective, comprehensive solutions.
Programming
To be able to review and evaluate a company’s large dataset, a business intelligence analyst needs strong programming skills to manage and automate a workflow. Learning programming languages such as Python and SQL can help business intelligence analysts create scripts that automatically locate and edit files in a dataset.
Teamwork
A business intelligence analyst typically works within a team, so teamwork skills are crucial to the department’s success. Working successfully with a team ensures that they develop and implement the best solutions and processes for the company. Effective teamwork involves communicating, brainstorming and collaborating with colleagues.
Customer service
Some business intelligence analysts work directly with clients. They should be able to connect with clients and ensure they deliver satisfactory results in order to build and maintain relationships.
Technical knowledge
Aside from programming, business intelligence analysts should have advanced knowledge of business intelligence tools, such as Tableau and R. Many business intelligence analysts use these programs daily. They should also be proficient in many data-related fields, such as data security, data mining and the design and architecture of databases in order to offer thorough solutions.
Business intelligence analyst work environment
The typical work environment and day-to-day operations of a business intelligence analyst depend on the type of company they work for. The field is diverse and there are many areas to specialize in, such as healthcare, technology or finance. Most analysts work full-time salaried positions and perform most of their duties in an office setting. Individuals pursuing a career in this field can expect the following in their work environment:
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Sitting for extended periods of time
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Working on a computer
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Communicating regularly with managers and team members
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Attending meetings in regards to a company’s or client’s progress and development
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Presenting findings and reports to clients and upper management
How to become a business intelligence analyst
You can follow these steps to become a business intelligence analyst:
1. Earn an undergraduate degree
The degrees that help most with a career in business intelligence analysis are computer or data science, economics, engineering or business administration. Coursework in statistics and analysis is helpful.
2. Get experience by completing an internship
Business intelligence analysis requires some experience. An internship in a financial or technological field, followed by an entry-level job as a data analyst or business analyst will give you the necessary experience and knowledge to become a successful business intelligence analyst.
3. Obtain a certification
Getting a professional certification, such as Microsoft’s Certified Solutions Expert in business intelligence, will prove that you can successfully use and design SQL and deliver data-based solutions. An alternative would be getting a certification in a specific computer language. Many employers require these certifications to apply for a position.
4. Apply for positions
Once you have developed your business and technological skills, gained at least four years of work experience and earned a professional certification, you’ll be a good candidate for business intelligence analyst roles. Alternatively, you may be able to ask for a promotion within your current company if the position is available.
5. Get a master’s degree
If you want to expand your job options, you can get a master’s degree in business administration or another related field, like information technology or something specific to the particular industry you’re interested in. A master’s degree can sometimes serve as a substitute for necessary experience as well.
Business intelligence analyst job description example
Our real estate agency is searching for a business intelligence analyst with experience in data analytics and metrics optimization. This is a full-time salaried position. You should be able to create new policies and procedures to advance or data collection and analysis practices. You will select and hire data analysis professionals to work with you on finding practical uses for the data we collect, to increase both our profit and overall efficiency. You should meet the following requirements:
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Bachelor’s Degree in Business or related field
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Five years of experience as a business intelligence analyst, preferably in the real estate industry
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Experience with Tableau and R
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Ability to run SQL scripts
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Excellent communication and problem-solving skills