WHO IS A BUSINESS INTELLIGENCE ANALYST?
Business Intelligence Analyst is the person who transforms data into insights that drive business value. Through use of data analytics, data visualization and data modelling techniques and technologies, BI Analysts can identify trends that can help other departments, managers and executives make business decisions to modernize and improve processes in the organization.
The BI Analyst role is becoming increasingly important as organizations move to capitalize on the volumes of data they collect. BI Analyst typically discover areas of revenue loss and identity where improvements can be made to save the company money or increase the profits. This is done by mining complex data using BI software and tools, comparing data to competitors and industry trends and creating visualizations that communicate findings to others in the organizations.
WHAT DOES A BUSINESS INTELLIGENCE ANALYST DO?
The duties of a Business Intelligence Analyst include :
Analyze competitive market strategies through analysis of related product, market or share trends.
Synthesis current business intelligence or trend data to support recommendations for action.
Communicate with customers, competitors, suppliers, professional organization, or others to stay abreast of industry or business trends.
Manage timely flow of business intelligence information to users.
Collect business intelligence data from available industry reports, public information, field reports or purchased sources.
Oversee the deployment of data to the data warehouse.
Develop policies and procedures for the collection and analysis of data.
Create or discover new data procurement and processing programs.
Cooperate with IT department to deploy software and hardware upgrades that make it possible to leverage big data use access.
Implement new data analysis methodologies.
Review customer files to ensure integrity of data collection and utilization.
Perform data profiling to identify and understand anomalies.
WHAT IS THE WORKPLACE OF A BUSINESS INTELLIGENCE ANALYST LIKE?
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.
KNOWLEDGE AREAS THAT A BUSINESS INTELLIGENCE ANALYST NEEDS TO BE ACQUIRED
English Language – Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition and grammar.
Sales and Marketing – Knowledge of principles and methods for showing, promoting and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques and sales control systems.
Administration and Management – Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modelling, leadership technique, production methods, and coordination of people and resources.
Mathematics – Knowledge of arithmetic, algebra, geometry, calculus, statistics and their applications.
Computers and Electronics – Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software including applications and programming.
SKILLS AND ABILITIES
Critical Thinking – Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Active Listening – Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Reading Comprehension – Understanding written sentences and paragraphs in work related documents.
Active Learning – Understanding the implications of new information for both current and future problem solving and decision making.
Speaking - Talking to others to convey information effectively.
Deductive reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
Written Comprehension - The ability to read and understand information and ideas presented in writing.
Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events)
Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
DETAILED WORK ACTIVITIES
The detailed work activities of a Business Intelligence Analyst include-
Analyze market or customer related data,
update knowledge about emerging industry or technology trends,
develop information communication procedures, prepare analytical reports,
update computer database information.
The other work activities include :
Getting Information - Observing, receiving, and otherwise obtaining information from all relevant sources.
Communicating with Supervisors, Peers, or Subordinates - Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
Updating and Using Relevant Knowledge - Keeping up-to-date technically and applying new knowledge to your job.
Establishing and Maintaining Interpersonal Relationships - Developing constructive and cooperative working relationships with others, and maintaining them over time.
Interpreting the Meaning of Information for Others - Translating or explaining what information means and how it can be used.
People interested in this work like activities that include ideas, thinking and figuring things out.
Analytical thinking – Job requires analyzing information and logic to address work related issues and problems.
Integrity – Job requires being honest and ethical.
Attention to detail – Job requires being careful about detail and thorough in completing work tasks.
Persistence – Job requires persistence in the face of obstacles.
Adaptability / Flexibility – Job requires being open to change (positive or negative) and to considerable variety in the workplace.
Achievement – Occupations that satisfy this work value are result oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
Working Conditions – Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
Recognition – Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious. Corresponding needs are Advancement, Authority, Recognition and Social Status.
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.
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.
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, applications must pass and online exam and may need to renew the certificate regularly.
The average salary for a Business Intelligence Analyst in India is 582,784 rupees. An entry-level Business Intelligence (BI) Analyst with less than 1-year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of ₹365,175 based on 55 salaries. An early career Business Intelligence (BI) Analyst with 1-4 years of experience earns an average total compensation of ₹512,801 based on 355 salaries. A mid-career Business Intelligence (BI) Analyst with 5-9 years of experience earns an average total compensation of ₹808,465 based on 143 salaries. An experienced Business Intelligence (BI) Analyst with 10-19 years of experience earns an average total compensation of ₹1,268,689 based on 60 salaries.
FREQUENTLY ASKED QUESTIONS
Is BI Analyst a good career?
Yes. It is one of the trending careers in today’s field and also a very promising as well as evolving field coming. It is also one of the best rewarded field too.
What is BI certification?
The CBIP is the industry’s most in demand credential for Data Professionals, along with the CDP – Certified Data Professional in data management. These BI systems allow a company to gather, store, access and analyze corporate data to aid in decision making.
What makes a good BI Analyst?
Excellent communication and presentation skills in order to share recommendations with colleagues. Superior leadership abilities, as well as ability to work with team members on a data science project.
What is the difference between business analyst and business intelligence?
Business Analyst is a Job Title / Role / Designation. Business Intelligence is a Process or a Field/Area/Concept/Subject within IT
( Information Technology)
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