Morshed It doesn’t make much sense if you have a business and you do not run it intelligently. Although this is not only what business intelligence entails, it gives you an idea of the concept. Every business needs this particular intelligence to thrive among others.
The business world is highly competitive, with every business on a quest to be the best in its industry. However, being the best depends on the output of the business, which in turn relies on internal operations. And for a business to ace its internal operations, it needs business intelligence or a business intelligence analyst.
Considering the numerous opportunities in the business intelligence niche, a lot of people want to explore the space as a major career. Sadly, most people have no idea about how to get into the niche. If you fall into this category, your worries are over! This guide offers everything you need to know about business intelligence and four simple steps that can help you to get into the career niche.
What is Business Intelligence?
Business intelligence refers to the understanding of a companies past performance to understand its present state and influence its future performances. It requires both non-technical and technical skills to bridge the gap between business analytics and management. Business intelligence uses statistical analysis, data, and data visualization to create predictive statistical models that influence decision-making.
Business intelligence combines data analytics, data science or computer science, and business administration to ensure a successful company’s operation. If you have a passion for data and can support and influence an organization, you can consider a career as a business intelligence analyst.
A business intelligence analyst carries out data analysis and identifies the insights to improve an organization’s ability to make informed decisions on future actions. The BI analyst (another business intelligence analyst) must be proficient in BI tools, technologies, systems, and programming languages. He/she defines key performance indicators, determines business-critical requirements and priorities, identifies BI using advanced software tools, and implements a data warehouse.
In less technical words, the goal of a business intelligence analyst is to empower decision-makers with real-time, accurate, and actionable insights. These functions, including actionable insights, help increase productivity, enhance workforce efficiency, and strengthen the market positioning of a company. It also improves the competitive edge for an organization, as well as augment customer experience.
Steps to Follow to Become a Business Intelligence Analyst
Becoming a business analyst pro in business analytics and data modeling is quite easy if you figure out the right steps to follow. These steps do not just make you a professional in data modeling or business analytics; it walks you through the process. This makes you a master of the business intelligence career or field.
Here are steps to follow to become a certified business intelligence professional;
1. Obtain a Professional Certificate
One of the ways you can get started as a BI analyst is to obtain a professional skill that shows your skills and expertise. To obtain this certificate, you will have to take courses on data science and business analytics. Upon completing these courses, the certificate you get reflects your level of skill and expertise as a BI analyst. You can also take online courses to get the needed certificate.
Taking these courses will help you prepare for opportunities in your chosen position. They will also help you develop some skills needed or required for business intelligence. You can take courses on skills or tools like Python, SAS, Hadoop, R, and lots more. There are also several other tools and skills you can take a course and get a certificate.
2. Obtain an Advanced Degree
You can also pursue and get an advanced degree that certifies you as a professional BI analyst. You can get a business analytics degree to formally back up your skills and knowledge of relevant tools as a BI analyst. You can get a Master’s degree in Administration or a Master’s in Data Science, depending on what you want to concentrate more on.
Whatever advanced degree you get will help improve your business operations, manage big data, ensure supply chain management, and make you a professional data analyst. You can also get a bachelor’s degree to join the list of BI professionals. A bachelor’s degree certifies you have certain prescriptive and descriptive techniques to help your own business or someone else’s own.
With an advanced degree and a professional certificate from either physical or online courses, you can now handle big data or carry out cloud computing like a professional BI analyst. You will also possess soft skills that will help you in becoming a business intelligence analyst.
3. Keep Learning and Practicing
You need to keep learning and practicing to become a professional BI analyst. When you first begin your career as a BI analyst, you get an entry-level position. But as you progress with efficient project management, identify trends and relevant data, and understand the operations of computer information systems, you become a pro.
You can take different online courses to keep learning and practicing. To be a BI professional, you can take courses on project management, coding languages, data science, etc. Continuous learning will help you in transforming data and extract actionable insights. It will also help you improve your analytical skills and your understanding of information technology.
4. Networking is Essential
Networking is one of the necessary skills you need to have as a BI analyst. You should make the right network with the right people to help you become a BI analyst. You can network with other professional BI analysts to produce reports, data warehouses or help your job as a project manager.
Networking will also help you with analyzing competitor data and data warehousing. If you are also on the job outlook, networking can also help with that. It can help ensure job growth and perfects that in a timely manner. Some job descriptions might include information technology and networking skills, which is one of the reasons you need them.
Networking can also ensure organizational efficiency and help you in the career path you choose.Being a BI analyst is one lucrative career path that a data scientist or business administrator can follow. The average salary of a BI analyst is about $95,000 or $45 per hour. Checking the labor statistics, you will notice a high demand for BI analysts. If labor statistics and the average salary seem enticing enough, you should consider a career as a business intelligence analyst. And if you are going to do that, the time is now!
Functions of a Business Intelligence Analyst
The primary function of a business intelligence analyst is to use data and other information to help a company or organization in making excellent business decisions. However, the function of a business intelligence analyst can vary widely and can be broken into three parts;
1. Breaking Down Key Business Data
One of the first functions of a business intelligence analyst is to gather and analyze data. Business analysts can analyze data like customer engagement metrics, sales, revenue, or sales market information. BI analysts can also program tools and data models to visualize and monitor data.
The business intelligence analyst first mines the data and analyzes the organization data. Mining and analyzing data can be a cumbersome task as you will have to use every resource to get the needed data. After getting the data, the business intelligence analyst performs data analysis using tools and knowledge from computer science.
2. Interpreting the Data
After breaking down key business data, business intelligence analysts need to interpret the data. They need to find patterns or see areas that signal potentials for improvements in business practices. This is one of the essential parts of the data intelligence analyst functions. The Business intelligence analyst might need to analyze market trends to understand changes, improvements, or adaptations a company needs for its products.
Interpreting data requires BI analysts to analyze, compile, and assess data for problems and solutions. Business analysts perform a cost-benefit analysis on projects to optimize the performance and operations of an organization. This can include collaborating with other coworkers to enhance the operations.
BI analysts compile the data on reported problems after concrete data analysis and assessment. The analyst also has to recommend solutions that will optimize and improve the efficiency of the organization’s operations, processes, and performance.
3. Sharing Findings
This function can be the least job of a business intelligence analyst, but it can also be the most important. Suppose the analyst does not share his findings, problems, recommended solutions, and other essential information. In that case, the business might end up not moving forward, or worse, crumbling to the ground.
Business intelligence analysts need to share their findings by visualizing data in graphs and charts, putting reports together, and presenting it to the team, clients, directors, or superiors. The business intelligence analyst also needs to give recommendations that will help improve the performance of the business.
This does not always come easy as the business analyst must collaborate with coworkers and management to enforce improvements. He/she also needs to assess the effectiveness of adopted strategies, engage with teams to determine resources, consult with relevant stakeholders, and lots more before conducting presentations and reports for the audience.
The function of business analysts is essential for the smooth and successful running of a business operation.
Skills Needed by a Business Intelligence Analyst
To become a business intelligence analyst, you need to familiarize yourself with some skills. As a business intelligence analyst, you are expected to perform some tasks. And you can only carry out these tasks if you are a pro with these skills.
Here are the skills you need to become a professional business intelligence analyst.
1. Data Visualization
A business intelligence analyst needs to know about certain services like Power BI and Tableau. Experience with these tools is often a criterion cited in job descriptions. The tools help create charts and graphs that help with data visualization.
Data visualization refers to the visual representation or analysis of data for better understanding. Business intelligence analysts need to have the skills and know-how to use the tools needed before being considered a pro-BI analyst.
2. Database Tools
One of the important aspects of a business intelligence analyst is data science. Business intelligence analysts need to understand the rudiments of data analytics and learn how to use database tools. Data science requires some tools like SQL, Excel, and the likes that aid data analytics. As a business intelligence personnel, you need to know how to use these tools.
You need to familiarize yourself with these data analysis tools that provide machine learning solutions. Data science has made tasks easier for business intelligence personnel easier as database tools have become a highly sought-after skill by many BI analysts. With these tools, you can ensure the efficiency of operations with lesser input.
3. Financial and Business Knowledge
Business intelligence does not only deal with the data science or computer science and programming part. It also includes business administration, financial, and business knowledge. As much as you are acing the computer science part, you also need to be blazing with adequate business and financial operations knowledge.
An excellent understanding of these concepts is vital for providing insights on improving business. Superb knowledge of computer science and outstanding business and financial operations can take you far as a business intelligence analyst.
4. Coding Languages
Knowledge of coding languages is one of the essential skills of a BI analyst. The BI analyst might need to create processes or systems that can analyze and monitor data and key aspects of the business. Without the knowledge of coding languages, these might seem a bit impossible.
To become a business intelligence analyst, you need to know coding languages like Java, Python, Javascript, PHP, and the likes. You don’t need to be good with all languages, as most times, you only need to be a pro with one or two. Coding languages will help you solve any essential business intelligence analyst role.
5. Business Acumen
Another skill needed as a BI analyst is business acumen. To ace your business strategies, you will need to have a swift ability to understand and comprehend your company or organization’s business model. You also need to know how to tailor or direct your effort to gain maximum value from your KPI, key performance indicator, and strategic decisions.
Business acumen can tell the difference between a business strategy made by a professional analyst and a mediocre one. It can also help with your organization’s enterprise resource planning, ERP, which will help improve your company’s operation.
6. Communication
Communication is essential for a BI analyst. A business intelligence analyst typically communicates with coworkers, team, superiors, directors, the audience in his/her daily activities. Without excellent communication skills, you might not be considered a professional BI analyst.
As a BI analyst, you need to speak in front of your teams, create reports of findings, and share it with the necessary officials. All of these will require perfect communication skills to be able to execute excellent operations. You need both verbal and writing communication skills to synthesize research and recommendations as an analyst.
There are other skills you need as a BI analyst. These business intelligence skills demand business intelligence professionals, and you should not be found wanting here. They include;
- Predictive analytics.
- A/B testing.
- Forecasting.
- Regression analysis.
- Data visualization and interpretation.
- Data collection method.
- Correlation and causation.
- Descriptive analysis.
- Problem-solving skill.
The above skills will help your data modeling and business analytics operations.
Frequently Asked Questions
What degree do you need for business intelligence?
You do not need too many degrees to be a business intelligence analyst. You only need to have a Master’s or Bachelor’s degree in data science or business analytics. With this degree, you can be a professional BI analyst.
What Qualifies Business Intelligence?
In simple terms, business intelligence entails the analysis of a company’s data and analysis to produce actionable insights. What qualifies business analysis is the mining and analysis of data, compiling and finding solutions and recommendations, and presenting data and recommendations to necessary personnel.
Is business intelligence a good career?
Business intelligence is one of the most promising careers to follow. It is lucrative as it has a mouth-watering salary and also aids self-improvements. Being a business intelligence analyst also gives you an open ticket to other careers like business administration, data sciences, and the likes.
