Becoming a business intelligence analyst is a prestigious affair. You get a high average annual salary of $91,260 and numerous additional perks. Besides, a skilled business intelligence analyst gets a chance to interview with top companies in the domain and submit applications to thousands of vacancies worldwide. In other words, you will reach the heights of a successful career once you become a business intelligence analyst.
Some of you might be new to the profession. So, getting a precise idea of the job role is a must. Besides, you should know the roles and responsibilities of a business intelligence analyst before even enrolling in a Simplilearn online bootcamp. Where to start your knowledge-enhancement journey? This step is your one-stop destination to clear initial doubts regarding a business intelligence analysis career.
We will reveal the basic concepts related to business intelligence analysis right below. You can make more informed decisions for your career after reading this article. So, let’s not waste any moment and dive deeper into reviewing the business intelligence analyst profile.
Who is a business intelligence analyst?
Business intelligence (BI) analysts are primarily responsible for conversion of data into insights that add up to the corporate value. Furthermore, BI analysts are efficient in uncovering trends that can help other departments, managers, and executives make business decisions to modernize and optimize processes in the organization by using data analytics, data visualization, and data modeling techniques and technologies.
As businesses seek to make the most of the massive amounts of data they acquire, the work of the business intelligence analyst is becoming increasingly vital. It is accomplished by using BI software and tools to mine complex data, compare data to rivals and industry trends, and create visuals that convey findings to others in the business. BI analysts often find areas of revenue loss and recommend areas where improvements can be made to save money or increase profits for the firm.
Becoming a business intelligence analyst – the skills needed
In a typical BI analyst interview, business intelligence analysts are tested on the following abilities.
- Data preparation
Data preparation is an essential component of Business Intelligence. It must first be collected, cleaned, and arranged consistently to derive any insights from the data.
- Data mining
Data mining is the process of detecting previously undetectable patterns in data. It transforms the raw data into information that you can utilize to make decisions.
- Statistical analysis
Being a Business Intelligence Analyst necessitates a solid understanding of statistics. You should be familiar with statistical terms such as mean, median, range, variance, and others that can be utilized to understand the data completely.
- Descriptive analysis
The process of description analysis is looking over the data to see whether there are any missing numbers, outliers, irregular or skewed distributions, etc. It is a step in comprehending and familiarizing yourself with data before presenting it to decision-makers in a clean format.
- Data visualization
One of the most mindful aspects of your job as a BI analyst is to visualize the data so that the patterns in the data are apparent. As a result, learning to visualize data is an essential aspect of becoming a Business Intelligence Analyst.
- Business Knowledge
It’s better to have a solid business understanding as a Business Intelligence Analyst. You should be familiar with the firm’s business model for which you are working and understand how to use data to maximize profits for the company based on key performance metrics.
- Data reporting
Soft skills such as data reporting and communication are critical to your success as a business intelligence analyst. You should be able to communicate the insights gained from the data to higher-ups in the organization, such as stakeholders and board members, to make the appropriate business decisions.
- Communication skills
A BI analyst needs to communicate with other project stakeholders in an organization. So, having chiseled communication skills won’t harm them. Many recruiters check their communication skills during job screening. Thus, you can say that communication skills are critical for an aspiring BI analyst.
- Analytical thinking
Like communication skills, a BI analyst should possess robust analytical thinking. It will help him go longer distances in a corporate environment. So, it will be better to work on chiseling your analytical mindset before pursuing BI analytics.
- Decision-making skills
Business intelligence analysts join the core decision-making committee in any organization. So, it will be better to hold thoughtful decision-making skills to become a better BI analyst in the future.
Apart from the skills, the BI analyst jobs require the candidates to have the following qualifications.
- A bachelor’s degree in business administration, business intelligence, or a similar discipline is necessary (a master’s degree in business administration is desirable).
- 7+ years of experience working in the field of business intelligence
- 3+ years of supervisory experience, ideally in the field of business intelligence or data analysis
- Understanding of data and analytical outcomes, as well as the ability to locate acceptable applications for them
Roles and responsibilities – what a business intelligence analyst does?
The section on responsibilities and tasks is the essential part of the job description. Regularly, it’s better to describe the duties and responsibilities of this position, how the role fits into the organization and who the employee will contact.
- As consumer data is collected, review and validate it.
- Oversee the data warehouse’s data rollout.
- Develop data gathering and analysis policies and procedures.
- New data acquisition and processing programs can be created or discovered.
- Work with our IT department to deliver software and hardware changes that enable us to take advantage of Big Data applications.
- Keep a tab on the metrics and analytics.
- To begin and maintain data rollout, hire a Data Architect.
- Implement innovative methods for data analysis
- Examine client files to guarantee the accuracy of data gathering and use.
- Conduct data profiling to detect and comprehend anomalies.
Business intelligence analysis is a rewarding profession. Now that you have a knee-deep familiarity with the profile of a BI analyst, it’s time to take up a relevant course, gain the skills, acquire some experience, and become a highly paid BI analyst in the future.