A career as a business intelligence analyst involves using data and statistical information to help make effective and efficient business decisions.
Globally, the business intelligence market is booming, as is the occupation’s importance, and is expected to reach Rs. 2,980 crores by 2022, giving a compound annual growth rate of 11.1%.
Page Contents
Role of a Business Intelligence Analyst
A business intelligence analyst has a spectrum of roles and responsibilities to cover. Even though what one BI analyst does on their job may differ from what another BI analyst works on, the function can involve the following responsibilities –
- Studying and sorting business data: The job requires the BI analyst to gather, sort, manage, classify and analyze various categories of data like costs, sales, information of how the market is performing, and umpteen other parameters of a particular business.
- Data Interpretation: Deducing routes and patterns that indicate potential improvements in ways of business or identifying critical areas in the vast pools of data is an integral part of the job of a BI analyst. BI analysts are also tasked with analyzing market trends to determine how the company’s products need to be altered to fit the trends of the business environment.
- Discussing results and findings: Discussing the conclusions of the analysis process is an essential part of a BI analyst’s job. It consists of indicating and portraying data in a visually appealing manner in the form of graphs, charts, and other visual devices, along with formulating and creating dedicated reports for presentation, either internally or with a client.
Business Intelligence Developer
In layman’s terms, a business intelligence developer works more on the technical side of things. Business intelligence (BI) developers use statistics and data analytics, and modern technology to compute and realize important and credible business information with decision-makers within the organization. They create, organize, and sustain enterprise and business-related software tools to drive and develop business strategies.
Business Intelligence Developers are engineers and analysts who are more tech-savvy and use business intelligence software to study, analyze and display organizational data. Their job profile also includes creating innovative tools and methods to improve their research process further or modify current methods.
Companies require such BI developers to bring together and simplify essential data and information. They are often referred to as specialists in technology and play a significant role in maintaining programs used in the analysis process. BI developers are a vital part of a company’s long-term intelligence projects.
Salary of a Business Intelligence Developer
Like any other career in business analysis, the salary of a business intelligence developer depends on the skillset and education you have. Location, i.e., where you work as a BI developer, also plays a massive role in deciding your salary. A BI developer in a metropolitan city like Bangalore may earn more than one in a comparatively smaller city.
The average salary of such a developer in India is Rs 5,10,000 per annum. However, a top-level business intelligence developer can earn more than 12,00,000 per annum. BI developer in New Delhi, your salary might be higher than the national average, rising to Rs. 5,45,000 per annum. In Mumbai, your salary, more or less the national average, is Rs.5,15,000 per annum. In Bangalore, which is referred to as the Silicon Valley of India, you have a chance to earn the highest, with the average salary of a BI developer being Rs. 7,52,000.
Big industry names such as Tech Mahindra tend to pay more than any other tech company, with the average salary ranging around Rs. 8,72,000.
As mentioned, your salary is directly correlated to the experience you have. An entry-level developer earns a little shy of Rs. 3 lacs per annum, whereas one with 3-4 years of experience earns around 8-9 lacs. An industry veteran with over 12-14 years of experience makes seven figures.
Business Intelligence Manager
A Business Intelligence Manager is responsible for finding data-based solutions related to the business strategy within the organization. As a manager, they are responsible for a group of analysts who use various statistical tools and methods to find solutions to quantitative business problems and increase profitability. Business Intelligence Managers perform regular and proper assessments and risk analyses. These managers create complex and detailed reports, collect intelligence data, and draw informed conclusions about business practices.
A business intelligence manager deploys, consolidates, and extracts data from enterprise-wide data warehouses and silos. They perform reviews and take necessary actions to improve data quality.
They design, develop, code, and most importantly, manage junior and other developers to meet end-user data, dashboard specifications. They also define, analyze, and create detailed reports on various projects’ data analysis and finances.
Salary of a Business Intelligence Manager
Early-stage business intelligence managers with 1-4 years of experience earn an average of Rs. 11,46,352, while mid-career business intelligence managers with 5-9 years of experience earn an average of Rs. 12,49,742. Earn. An experienced business intelligence manager with 10-19 years of experience earns around Rs. 19,54,346.
Business Intelligence Analyst
Business intelligence analysts help companies use the data they already collect to increase their efficiency and maximize their profits. Their job includes
- effectively querying the database to examine large amounts of data
- filing reports to identify trends, and
- generating business insights.
Business intelligence analysts must have a wide range of data analysis skills and a deep understanding of the business users in big data, especially in data analysis. Business intelligence analysts must make use of the vast amount of data currently available in the business. Business intelligence analysts span the world of business and information technology, have a deep understanding of both, and can collect and analyze data to recommend a company’s growth strategy.
Business Intelligence Analysts evaluate their data and the data of competitors and other companies to find ways to improve and strengthen their position and hold in the market. A good business intelligence analyst examines a company’s systems, processes, and features to find areas to improve efficiency and profitability.
Business intelligence analysts should also consider new ways to develop new policies related to data collection and analysis methods, such as ensuring the integrity of data usage.
Salary For a Business Intelligence Analyst
Business Intelligence Analyst salary for a beginner in India ranges between ₹ 3.5 Lakhs to ₹ 4.8 Lakhs with a mean yearly salary of ₹ 4.1 Lakhs.
The national average salary for a Business Intelligence Analyst with more than five years of experience is ₹7,53,897 in India. The highest salary for a Business Intelligence Analyst in India is ₹14,08,147 per year.
Career progression in business intelligence analysis
What can a person starting in business intelligence analysis expect in terms of professional development and growth in the organization? If the candidate starts at an entry-level position, the career path in business intelligence analysis is as follows:
Global salary structures in business intelligence analysis
As per Glassdoor.com, the median global salary structures for different positions in business intelligence analysis are as below:
Source: https://www.coursera.org/articles/business-intelligence-analysts-what-they-are-and-how-to-become-one
Tips for a successful career in Business Intelligence
- BI analysts should be familiar with various Microsoft applications, such as Excel. Experience with ERP systems such as Oracle and SAP is usually considered positive. Using, organizing, and working with data will be an essential part of your work.
- It is essential to understand how to manage data using standard data tools such as Excel and SQL. Familiarity and hands-on data analysis tools that provide machine learning solutions are also an increasingly sought-after skill among BI analysts.
- Knowledge of services such as Tableau and Power BI for data visualization is often cited as essential in job descriptions.
- Students must have a degree in Business Informatics, Engineering, Computer or Data Science, Business Economics and Management, or a related field that provides insights into how the world of business intelligence and analytics works. It also helps one understand the processes and organizational operations.
- An excellent way to start and plan your career in the business intelligence sector is by training or getting an internship in the financial industry. This allows one to learn about the internal workings of a business intelligence company. Such experience helps in networking and creates know-how of the industry, all while helping you make contacts in the field. It also helps business intelligence analysts better understand the process of project types.
Conclusion
BI analysts are experts in visualization and reporting who can transform and study data, read into insights, and use the knowledge from those insights to dig deeper and help a business understand where they need to work better.. They usually have a business background. They can use it to get into specific datasets and determine which clear key performance indicator (KPI) doesn’t seem to be in tune with the rest of the business plans and working.
BI developers are primarily from an engineering background who can understand and write complex code that ingests data and statistics from various sources and integrates the data using business tools. They are familiar with the technical aspects of the projects and can examine the data to see why a particular KPI is either performing well or failing. They also can troubleshoot such issues.
BI Manager is a designation one mostly achieves once they have gathered significant experience in business intelligence analysis or have achieved great success in related projects.
In conclusion, business intelligence is a field that demands a lot, and thereby, pays well too. One needs to have the proper technical knowledge and management know-how to succeed in this field.