Combining data science with the world of business, business intelligence analysts equip organizations with the actionable information and insights needed to thrive in the data-driven economy. Business intelligence analysts are employed across a wide range of industries, giving professionals the opportunity to specialize in niche areas that interest them most.
Exploring the Role of a Business Intelligence Analyst
So, what is a business intelligence analyst, exactly? A business intelligence analyst is a business professional who specializes in analyzing data. According to Indeed, a business intelligence analyst is primarily responsible for collecting and retrieving data for an organization and generating reports that provide organizational leaders with the data-driven insight needed to make the best possible decisions.
Key Responsibilities and Daily Tasks
The key responsibilities of a business intelligence analyst can vary greatly based on the organization that they work for, and the goals of that individual organization.
What does a business intelligence analyst do? These are some of the daily tasks that a business intelligence analyst may be responsible for:
- Retrieving, reviewing, and analyzing customer data.
- Retrieving, reviewing, and analyzing competitor data.
- Utilizing analytics and metrics to evaluate the data-driven initiatives of the organization.
- Developing personalized business intelligence solutions based on the data harvested from the organization.
- Developing and implementing data collection and privacy solutions for the organization.
- Generating data reports and creating presentations for leadership that offer insight into the most recent available data.
The Impact of BI Analysts on Business Strategy
Business intelligence analysts rely heavily on the business intelligence cycle, which is often referred to in the industry as the BI Cycle. The BI Cycle kicks off in earnest when organization leadership defines a problem that they are struggling with, allowing the business intelligence analysts to step in and assist with strategic decision-making as the organization works toward a solution.
The BI Cycle consists of:
- Developing a definition of the business problem.
- Collecting relevant data.
- Preparing the data and developing modeling based on the data that has been harvested.
- Safely storing the data.
- Analyzing all available data.
- Completing the data visualization process so that leaders could identify and interpret the results.
- Allowing organizational leaders to make data-driven decisions that could lead to a solution for the identified business problem.
Essential Skills for a Business Intelligence Analyst
To effectively perform business analytics for an organization, a business intelligence analyst needs to develop a wide range of technical data science skills, intuitive business acumen, and interpersonal skills. Knowing which core competencies are needed for business intelligence analysts could help you prioritize the industry-specific skills needed for this career field.
Technical Skills: Data Analysis, SQL, and BI Tools
At its core, business intelligence is a scientific field, which means interested candidates should have a wide range of technical skills. The top technical skills for business intelligence analysts include:
- Data Analysis — Data analysis skills rest at the heart of this career field, and aspiring business intelligence analysts must become proficient in the best data collection and analysis practices. You may need to learn how to safely collect relevant data, analyze data using industry-specific analytics and metrics, and create data visualization reports.
- SQL Skills — Structured Query Language (SQL) is the common language used in data management. Naturally, business intelligence analysts may need to have well-developed SQL skills to collect, store, analyze, and present data. SQL skills allow business intelligence analysts to effectively extract and manipulate data, aggregate data, cleanse and transform data, and integrate data from multiple sources.
- Business Intelligence Technology Skills — Familiarity and proficiency with the leading business intelligence tools allow BI analysts to collect, interpret, and present data as efficiently and effectively as possible.
Soft Skills: Communication, Problem-Solving, and Critical Thinking
While it may seem like business analytics is heavily rooted in data science and technical skills, interpersonal skills still play a vital role in the BI field. In addition to having the skills and experience needed to collect and analyze business data, business intelligence professionals also must develop the soft skills needed to present that data to those who may not understand it. Communication, problem-solving, and critical thinking are essential soft skills that business intelligence professionals must focus on developing.
The Path to Becoming a Business Intelligence Analyst
Those interested in working as a business intelligence analyst should be aware of the steps they need to take to accomplish their professional goals. For the most part, the path to becoming a business intelligence analyst is fairly linear, giving aspiring professionals the structure they need as they begin preparing for their careers.
Educational Requirements and Preferred Degrees
Most business intelligence analyst positions require candidates to have earned a four-year degree. Preferred degrees for business intelligence analyst positions include data science, statistics, economics, or business administration. Within your degree program, if you have the opportunity to select elective classes, you may want to focus on courses that allow you to develop the skills needed for this field, such as data analysis or statistics.
While many positions require candidates to have a bachelor’s degree, a master’s degree in business intelligence may allow you to develop the niche, industry-specific skills needed for these types of positions.
Certifications and Courses to Enhance Your BI Skills
In addition to earning a bachelor’s degree or master’s degree in a relevant field, you could also pursue certifications and professional development courses to acquire the specific BI skills needed. There may be courses that provide training in the latest BI technology, or certification programs that allow you to develop relevant data analytics or cybersecurity skills. By investing in your professional development, you could set yourself apart in a competitive and growing job market.
Gaining Practical Experience Through Internships and Projects
One of the best ways to gain practical experience in the business intelligence field is to pursue internship opportunities or to collaborate with others involved in BI projects. This hands-on experience allows you to develop not only the skills needed to become a business intelligence analyst but also the intuition required in this dynamic field.
Understanding the Differences: BI Analysts vs. Data Analysts vs. Business Analysts
Business intelligence analysts are data scientists, and one of the most common misconceptions is that BI analysts are the same as data analysts or business analysts. In reality, there are distinct differences between these professions, and it is important to be aware of the differences as you are planning your personal career path.
To begin, here is a look at each profession:
- Business intelligence analysts are business professionals who specialize in data collection, and who focus on harvesting, analyzing, and presenting data to organizational leaders to support data-driven decision-making.
- Data analysts work for a wide variety of clients to collect and analyze data. They are generally focused on solving a specific problem for their client.
- Business analysts are professionals who use data collection techniques to identify issues for organizations and help them develop intuitive solutions.
Skill Sets and Tools Used by Each Role
While the focus and scope of each position are different, business intelligence analysts, data analysts, and business analysts often need to develop the same core competencies to complete their job responsibilities. All data science professionals must be proficient in the best and most secure data collection techniques, and they must have the soft skills required to effectively present that data to their clients. They need to become proficient with the leading industry tools and technology to collect the best possible data, store it securely, and visualize it for their clients.
How Their Contributions Differ Within an Organization
While they rely heavily on the same skills and tools to perform their jobs, business intelligence analysts, data analysts, and business analysts make distinctly different contributions within an organization. For instance, a business intelligence analyst begins working with organizational leaders after a problem has been identified, and their role is to collect and analyze the data needed to solve the identified problem. Business analysts, on the other hand, work proactively to harvest and analyze data to uncover inefficiencies and make recommendations to optimize processes in the organization.
Industry Demand and Career Prospects for BI Analysts
Data-driven insights are in high demand in organizations across all industries, highlighting the demand for skilled business analysts and data scientists. Understanding the current industry demand may allow those interested in this field to take the next best steps for their careers.
Current Job Market Trends for BI Analysts
Demand for data scientists, including business intelligence analysts, is expected to rise in the coming years. For more detailed information about job growth and opportunities in this field, refer to the U.S. Bureau of Labor Statistics (BLS).
Future Growth Opportunities in Business Intelligence
As technology continues to shape and redefine the world of business, automated technology solutions, including AI and machine learning, may replace some of the manual tasks that business intelligence analysts perform. However, by automating these processes, BI professionals can focus more on the analysis required to develop creative, innovative, and impactful solutions.
Salary Expectations for Business Intelligence Analysts
Salary expectations for business intelligence analysts may vary based on the organization and industry that the BI analyst works for.
Factors Influencing BI Analysts’ Salaries
Factors that may impact a business intelligence analyst’s salary include:
- The organization hiring a BI analyst.
- The industry that the organization is involved in.
- The amount of professional experience needed for the position.
- The educational qualifications and professional skills that the applicant has.
Navigating Your Career for Financial Growth
As you navigate your career path, you may want to focus on skill development through training, degrees, and certification programs, as well as professional experience. This may allow you to continue to explore new opportunities over time.
Common Challenges Faced by Business Intelligence Analysts
As data scientists who have to rely heavily on the data that they have available, business intelligence analysts could face unique challenges in their professional roles. Understanding the common challenges faced by business intelligence analysts could help you prepare in advance, allowing you to effectively navigate these issues when you are faced with them in a professional capacity.
Overcoming Data Quality Issues
Data quality issues are some of the most common challenges facing BI analysts today. Some of the most prevalent data quality issues include incomplete data, inconsistent data, outdated data, unstructured data, and invalid data. Business intelligence analysts could address quality issues by fully integrating data during analysis to ensure a comprehensive understanding. They should also use consistent, standardized collection methods to more easily identify any data quality problems.
Staying Ahead of Rapid Technological Changes
Rapidly advancing technology is sure to impact the data science industry, and business intelligence analysts today are aware that their professional landscape is rapidly evolving. The fact of the matter is that automated technology, including artificial intelligence and machine learning technology, is going to revolutionize the data science industry. While AI and machine learning are revolutionizing the data science industry, business intelligence analysts can focus on adapting to these technological advances rather than fearing job displacement. The role may evolve, but analysts who proactively become proficient in AI tools will likely find opportunities to leverage this technology in their current responsibilities. Rather, the scope of their job responsibilities is likely to change. Business intelligence analysts could stay ahead of these changes by proactively working to become proficient in the leading AI tools, allowing them to leverage this technology within their current roles.
What Does a Business Intelligence Analyst Do? Learn More at Post University
At Post University, we offer a Master of Science in Business Intelligence and Analytics that offers a forward-thinking curriculum. Throughout the required courses, which cover topics such as business performance and decision support, students have the opportunity to become competent in leading business analytics and data analytics skills.
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