Complete Guide for Switching Your Career in Data Science: Business Intelligence Analyst
- Who is a Business Intelligence Analyst?
- What do BI analysts do?
- How much does a BI analyst earn?
- What is the career path of a BI analyst?
- How do you become a Business Intelligence Analyst?
- Educational Prerequisites to become a BI analyst.
- Skills Needed to become a BI analyst.
- Technical skills
- Practical skills
- Soft skills
- Demand for Business Intelligence Analysts in India
- Job growth in the Business Intelligence Analyst role
- Which are the industries you must consider as a Business Intelligence Analyst?
- How do I switch my career to a Business Intelligence Analyst?
- Where to find Business Intelligence Analyst job requirements?
Business intelligence (BI) careers are on the rise. Data specialists play crucial roles within a firm, such as business analysts, project managers, and technical architects. To pursue a BI profession, you’ll need a combination of business knowledge, people skills, and technical expertise.
Is business intelligence analyst a good career path to explore?
In this sector, you may expect to advance your career and get a lot of money and the opportunity to perform many tasks. It’s a profession that offers advancement and high pay, and the chance to take on many roles. It’s a profession that appeals to individuals who want variety and change because each project is unique.
Who is a Business Intelligence Analyst?
A business intelligence (BI) analyst is well-equipped to measure past data records, quantify the observations and examine them for key insights.
What do BI analysts do?
Data is life and business is data. That’s likely every BI analyst’s motto.
BI analysts possess a blend of business vision, consultant abilities, and profound knowledge of data. They are also skilled in using Tableau.
Their job often entails work alongside senior management to shape and develop a data strategy for the company.
Analysis of Key Performance Indicators (KPIs), an accurate overview of business performance, and identifying areas that need improvement are all in the domain of a BI analyst.
Other BI analyst job responsibilities typically involve figuring out how best to “crunch the numbers. An example is examining company competitors, data trends, and other random effects.
Moreover, BI analysts present data in graphs and dashboards to make major decisions visible.
How much does a BI analyst earn?
The national average salary for a Business Intelligence Analyst in India is ₹7,07,077 per annum.
What is the career path of a BI analyst?
If you’re interested in the field of Business Intelligence, there are a number of things to do before starting at the entry-level.
How do you become a Business Intelligence analyst?
Is the business intelligence career path right for you? Well, if you’re interested in analysing past historical data to forecast future actions and uncover insights into research projects and performance of different departments then this could be an opportunity worth looking into.
A BI analyst has many other responsibilities and tasks to complete daily. That’s why we created this article – to provide insight into what a BI analyst does, what education and skills you need to fit the bill, and how much you can earn in this role. Practically everything will get you past those first initial steps on your way to a successful career in BI.
Education prerequisites to become a BI analyst
Landing a job in BI becomes easier if you have a degree in one of the following- computer science, engineering, mathematics, statistics, finance, business administration, or economics.
Don’t get discouraged if your background is in classical Indian literature or contemporary dance.
Despite the fact that you’re never too old to learn, there are limits on what you can learn. Today, in order to succeed as a BI analyst, you need knowledge in Python, Tableau, Excel, and SQL. Online courses give both the necessary skills and confidence for this position.
If you’re new to the data science field, an internship in the finance industry would be a beneficial start. It will give you insight into all business processes and show what kind of projects BI analysts typically work on.
Skills needed to become a BI analyst
You need to have these skills in order to become a BI analyst.
- Advanced Excel, SQL, Tableau Desktop, and Server skills.
- Power BI experience.
- Knowledge of Python or R is highly desirable
- Data interpretation and finding-based recommendations.
- Know how to create graphs, dashboards, reports, and presentations of project results.
- Identification, analysis, and interpretation of patterns/ trends in complex data sets.
- Strong planning and organisational skills.
- Learning concepts and applying them with creative solutions.
- Analytical skills and impeccable attention to detail.
- Can work independently in a fast-paced and rapidly changing environment.
- Presentation skills
- Can design charts and graphs to help business partners understand complex concepts.
- Ability to persuade.
- Flexible and adaptable.
- Excellent verbal and written communication skills.
- A team player who can work in an agile, high-pressure environment.
- Can collaborate with Performance Management to review data on individual and team performance.
- Able to take on the role of a coach or adviser for other project teams.
- Understand the needs of a team and others.
- So we hope you enjoyed learning the ins and outs of a BI analyst position. Now that you know what to expect from this line of work, let’s move on to some career insights that might be helpful for your data science future.
Demand for Business Intelligence Analysts in India
BI is going to become a significant job opportunity for freshers. As the internet penetration is picking up in India, e-commerce companies are on a hiring spree. More and more businesses are turning towards business intelligence analysts to make informed decisions.
With an online certificate course, you can achieve this goal if you know what you want in life. Professionals have landed good jobs upon completing the Data Science Certification Course.
Job growth in the Business Intelligence Analyst role
By 2027, the global business intelligence market is expected to grow at a CAGR of 8.5% and reach USD 39.35 billion in value. (Source: https://www.globenewswire.com/news-release/2021/10/11/2311591/0/en/Business-Intelligence-Market-to-Gain-Immense-Momentum-Introduction-of-M3-s-Business-Intelligence-Platform-Insight-to-Enable-Expansion-states-Fortune-Business-Insights.html) In India too, the demand for professionals with this skill-set is going to grow exponentially over the next few years.
With a Data Science Certification under your belt, you can take up opportunities related to data analytics which also include jobs as Big data analysts and insight scientists apart from business intelligence analyst positions.
According to the industry experts, companies are more inclined towards hiring Graduates who have prior hands-on experience working in any of the domains like e-commerce, analytics, finance which will help them understand business requirements better and work with minimal guidance.
As mentioned earlier, business intelligence analysts occupy an essential position within an organisation due to their analytical capabilities and sound understanding of various business processes.
Which are the industries you must consider as a Business Intelligence Analyst?
If you are considering a job as a business intelligence analyst, an online course is a great option. To be successful, you need to have sound knowledge of the industry that interests you. Suppose an individual would like to take up a position as a Business Intelligence Analyst for Internet Start-ups. In that case, they must understand the digital economy or e-commerce better than others. Similarly, aspirants seeking jobs at financial institutions must have a good understanding of finance and accounting concepts.
Here is the list of industries where BI professionals could find jobs:
- Banking & Financial Services
- Education & Research
- e-Commerce & Internet Start-Ups
- Government & Public Sector
- Healthcare & Pharmaceutical Industry
- IT & Telecom Industry
- Manufacturing Sector
- Marketing & Advertising Industry
- Non-Profit Organisations
How do I switch my career to a Business Intelligence Analyst?
There’s good news for aspiring BI professionals. According to industry experts, online business intelligence and analytics courses can help students switch their careers and gain a foothold in this field. There is a demand for BI analysts who can combine technical expertise with expertise in various domains.
Where to find Business Intelligence Analyst job requirements?
Job descriptions for Business Intelligence Analysts are available online. You can look at career websites or job portals to find the criteria expected from you during the recruitment process.
As the technology evolution continues to redefine businesses worldwide, companies rely more on business intelligence analysts to help them understand consumer behaviour and market dynamics.
Some of you reading this might be thinking that an online course for Business Intelligence Analyst will cost too much. The good news is that RISE WPU offers scholarships and easy finance options. Connect with one of our counsellors for more information.
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