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Career Track

BUSINESS INTELLIGENCE (BI) ANALYST

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WHO IS A BUSINESS INTELLIGENCE ANALYST?

A Business Intelligence (BI) analyst is someone who is responsible for analysing organizational data supporting the decision making processes. There is a large amount of data which is generated throughout the lifecycle of the organization. Making the most of this data and maximizing its utility through intelligent decision making is the work of a BI Analyst.

WHAT ARE THE JOB RESPONSIBILITIES OF A BUSINESS INTELLIGENCE (BI) ANALYST?

  • Analysing data, generating information and compilation of reports are some of the integral activities.
  • Understanding data storage structure.
  • Gathering inputs from organizational operations, data mining using reports, competitor data, market trends and consumer data.
  • Analysis and cross referencing the data using various tools and techniques such as statistical modelling, visualization platforms, predictive analysts etc.
  • Some skills may also include machine learning, natural language processing and artificial intelligence.

– Let’s have a look at what companies look for while hiring a Business Intelligence (BI) Analyst – 

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What is the career path of a BI Analyst?

In this technically progressing world, it is necessary to be multifaceted in each aspect of life.

  • The work of a BI analyst is not just limited to numbers but it is about being a great negotiator, mediator, communicator and so on. Information technology is the biggest ally of a BI analyst. Clear communication, facilitation ideas, precision and an ability to be a team player are some of the traits which a BI analyst should possess.
  • An organization has some very important functions such as finance, operations, information technology and so on. BI Analyst with his penchant of data and analysis brings all these departments together and works with each of these as the hand in the glove. Rightly so, in many large organizations, it is said that the role of a BI analyst is rather fuzzy. So, actually, the role of a BI analyst is to be a mediator between the business

What is the skill set for a Business Intelligence Analyst?

Just like a good chef needs to know the difference between salt & sugar, the right time it takes to cook, a little less time: you don’t want to eat it, a little more time: you don’t want to eat it.

Similarly, if you want to be a good Business Intelligence (BI) Analyst then you need to be good at the following:

  • Data merging:
    • Merging and integrating specific data into a cross-functional report. Organizing and making the report available in a timely manner.
  • Improvising the processes:
    • BI Analysts need to work across the spectrum of operations, customer support, technology and so on. Improvising the processes across these departments using relevant industry standards and already existing reports to check whether the productivity of the organization varies from the norms is one of the critical aspect of BI Analyst job description.
  • Prevention of losses:
    • An analyst should be able to find out any organizational discrepancies. he/she should be in a position to investigate the odd events which would in turn help to identify poor processes, under performance of the team and lost revenue.
  • Storytelling with the data:
    • Visualizing organizational goals is possible only when the data is presented in an innovative manner. Storytelling with the data is one of the most important aspect of BI.

Who can be a BI Analyst?

Engineers

Engineers world over are regarded for their problem solving and analytical skills. Experienced engineers who would like to trade a different path after a considerable tenure in the technical side can be a BI analyst.

Information Technology Professionals

Those who have an in-depth understanding of how information technology works can join business intelligence analytics. Information technology is one of the important facets of BI.

Business Administration Professionals

Operations are business as usual. Business administration professionals can be BI Analysts after considerable experience in how the organizational system works.

Accounts Professionals

BI is a great transition for accounts professionals. Accounts professional having an understanding of the organizational environment and decision making can be BI Analysts.

Consulting

Consulting professionals should learn BI to bring in the authenticity of data in their decision-making processes.BI Analysis is a natural progression for consulting professionals

BI Analyst Skills

ANALYTICS

PowerBI

A collection of software services, with apps and connectors which work together to make the data coherent and insightful.

Alteryx

Alteryx is software where one can discover, prepare and analyse the data to deploy and share the statistics with deeper insight.

KNIME

It is an open source, free data analytics and integration platform.

DATA VISUALIZATION

PowerBI

PowerBI can also be used as a data visualization software.

Tableau

One of the best and widely used data visualization software.

Qlik

An end to end data visualization and analytics software

QUERYING LANGUAGE

SQL

Creating, maintaining and retrieving relational database is possible with SQL.

Access

It is one of the most prominent information management tool, and rightly so.

PROGRAMMING LANGUAGE

DAX

Data Analytics Expressions is not exactly a programming language but it is used mostly as formula language or querying language

SQL

Creating, maintaining and retrieving relational database is possible with SQL.

MICROSOFT OFFICE SUITE

Basic understanding and working knowledge of Microsoft Office Suite is necessary for BI Analysis.

The salary range for BI Analysts:

As per the survey report by Forbes, in 2017, there was a scarcity of 1.5 million BI Analysts. Here are the salary projections for BI analysts for India

Entry Level (0-3 years)₹4-7L
Mid-level (3-5 years)₹5-10L

The salary range for BI Analysts:

As per the survey report by Forbes, in 2017, there was a scarcity of 1.5 million BI Analysts. Here are the salary projections for BI analysts for United State of America (USA).

Entry Level (0-3 years)$86k-$100k
Mid-level (3-5 years)$100k-$140k

CONCLUSION

Being a BI analyst involves understanding various aspects such as finance, administration, and management. It is one of the most lucrative profession change as the organizational decisions are completely based on the data acquired. BI certifications are the most sought after certifications for entry level as well as experienced professionals.There are many renowned institutes like Yoda learning offering certifications for various tools that are used for business analytics. Be a BI Analyst and take your career to next level.