For the purpose of converting raw data into actionable information, modern analytics pipelines involve several roles and responsibilities. One of these typical analytics positions in many firms is a data intelligence analyst.
Data intelligence analyst utilises data to assist organisations in making choices. There are various routes you may follow to become one if you acquire the required talents.
Let’s examine the particular roles and responsibilities of a data intelligence analyst and what you must understand to become one.
The Increasing Role of Big Data in Business
It is crucial for organizations to make efficient use of the increasingly large and complicated amounts of data they acquire.
Such data increases productivity and leads to better decision making—which lets businesses develop quickly to stay as competitive as possible.
However, it can be challenging to even traverse this “untidy data,” much less analyse, interpret and share it with relevant stakeholders.
Unstructured data must be organized in order to be presented visually in the form of graphs, charts and maps using BI tools. A business intelligence analyst can help with that.
Why is a Data Intelligence Analyst Important?
Data Intelligence analyst turns the vast amounts of data that companies gather into insights that generate business value.
They efficiently search through massive volumes of data by querying databases, interpreting their results, and then make reports and spot trends.
Data intelligence analyst often finds areas of revenue loss and pinpoint areas where changes may be made to save costs or boost profits.
This is accomplished by employing BI tools and software to mine complicated data, comparing it to rivals’ data and industry trends, and producing visuals that explain these recommendations to relevant departments.
What do Business Intelligence Analysts do?
The main objective of a data intelligence analyst is to provide decision-makers with precise, timely, actionable insights that boost employee productivity, reinforce market positioning, raise competitive advantage, and improve customer experience.
Data intelligence analysts employ cutting-edge software and technologies to mine big data to discover business-critical objectives and requirements, establish KPIs (Key Performance Indicators), and execute data warehouse strategies.
In order to help other departments, managers, and executives make business choices to update and optimize organizational processes, BI analysts can discover patterns via the use of data analytics, data visualization, and data modelling techniques and technologies.
Key Roles and Responsibilities of Data Intelligence Analysts
A business intelligence analyst’s normal day entails data collection, analysis, and dissemination to appropriate audiences.
These elements may be divided into more specific jobs, all of which have a beneficial influence on an organization’s performance as a whole.
So, you may wonder, what are included in the key roles and responsibilities? Let’s list them down below.
- Mining and evaluating organizational data, such as income, expense, employment, and financial reports.
- Gathering information for business intelligence from sources, such as market research reports, publicly information, field reports etc. In addition to acquiring information about clients and the market, this may entail upgrading knowledge of pertinent technological advances or developing industries related to the business.
- Storing data in the business’s database, which may need to be frequently updated. Additionally, operational guidelines may need to be created for using the database and provide software support or maintenance for any special programs.
- Creating analytical reports of findings and distributing them to the proper stakeholders within the firm via established communication channels.
- Gathering information about reported issues and offering solutions that improve system and process performance.
- Conducting cost-benefit analyses on projects targeted at enhancing the organization’s performance and efficiency.
- Working together with the management team and teammates to implement improvements, and evaluating the success of implemented techniques.
- Consulting with management and other stakeholders to identify strategic goals.
- Creating reports and running interactive presentations to effectively communicate business data to a wide range of audiences.
What Skills are Required to Become a Business Intelligence and Reporting Analyst?
Business intelligence analysts must possess a variety of data analytics skills, particularly data analysis.
They must be an individual proficient in computer programming languages, and BI tools and systems.
They also need to have a keen business understanding, which is essential in a profession that heavily relies on soft skills like teamwork and effective written and verbal communication.
While each corporation and individual position may have slightly different requirements, here is a rundown of the essential skills that a BI analyst must typically possess and how to acquire them.
- Database tools: It is critical to understand how to handle data using basic data tools like SQL and Excel. Among BI analysts, proficiency with data analysis technologies that provide machine learning solutions has also grown in demand.
- Communication: To present results to teams, business intelligence analysts give presentations or write reports. The knack to communicate effectively both verbally as well as in writing is essential to the job.
- Coding languages: A BI analyst can be expected to develop procedures or systems that analyze data and keep an eye on important business metrics. In job postings, experience in coding languages like Python, Java, or R is preferred.
- Data visualization: Experience with tools like Tableau and Power BI is frequently listed as a requirement in job descriptions. These tools aid in the production of graphs and other data visualizations which allows information to be easily accessible to concerned departments.
- Business and financial knowledge: To offer suggestions for optimizing company procedures, it is essential to have a solid grasp of both finance and business principles.
How to Get Started in Business Intelligence?
A few different routes can be followed to pursue a career as a data intelligence analyst.
While everyone’s career path is unique, here is a rough guide you can follow to ensure you have the right skills and expertise needed for a successful BI analyst career.
Step 1: Get an Undergraduate Degree
You can acquire the technical and analytical abilities required of a BI analyst with a bachelor’s degree. Major in subjects such as information systems, computer science, data science, engineering, economics or a similar field that can provide an understanding of organizational operations and business management.
Look to enroll in classes that provide thorough knowledge of data and data handling, such as those on databases architecture and design, data mining, and data visualization.
Proficiency in coding languages and strong Excel and SQL knowledge is a huge plus.
Step 2: Acquire Entry Level Experience
Before beginning their careers, business intelligence analysts should have some work experience (although some firms may consider a Master’s in Business Administration a sufficient alternative).
Getting an internship in the financial sector, which will offer you the chance to learn about the inner workings of a corporation, is one smart way to kick off your career.
Alternatively, consider an internship or an entry level work as a data analyst, business analyst, or data report writer after you graduate.
Look for opportunities to do SQL queries, model and analyse data, and design and manage project scope in these positions.
You will gain invaluable contacts in the industry from all of these experiences, as well as a deeper understanding of the end-to-end workflow of the kinds of projects that a business intelligence analyst often completes.
Step 3: Get Professional Certification
A professional certificate or course is an effective way to develop necessary abilities, such as proficiency with Power BI or data analysis.
Certificates or online courses can provide the flexibility needed to master a new area without disrupting one’s entire life. This is often possible with no prior related experience.
‘The Microsoft Certified: Data Analyst Associate’ credential is one of the top professional designations for business intelligence analysts.
This certification attests to your proficiency in designing and utilizing SQL to create data-based solutions. The test covers building business solutions, implementing a data warehouse and data models, and querying and managing SQL databases.
If you posses two or more years of experience in computer information systems, data modelling, systems analysis, or a similar discipline, it is possible to become a TDWI Certified Business Intelligence Professional (CBIP).
You may test for it and attain the “practitioner” or “mastery” levels. Additionally, you might wish to pursue certification in particular programming languages, like as SAS.
Step 4: Graduate Degrees
An advanced degree can help you specialize in your field or add breadth to your area of expertise.
A master’s in data science can be what you need if you have experience in business but feel that your foundation in data needs to be strengthened.
An MBA program that focuses on business analytics may be what you need if you have a strong grasp of data analysis but lack business expertise.
Data Analytics Consulting Services by Ascend Analytics
With its data analytics consulting services, Ascend Analytics aids you in making sense of the limitless quantities of data at your disposal.
Big data in the current day is growing fast, and with it come concerns from businesses about how they should use it in their particular markets and sectors.
Ascend eliminates this pointless complexity by customising its services to meet the demands of your business.
By simplifying the collecting, cleansing, and reporting of data, Ascend Analytics Data Analytics Consulting Services have assisted participants in a variety of industries & sectors in changing how they see & utilise data.
Data intelligence analysts assist an organisation in making the most of the data it already gathers in order to improve productivity and boost revenues.
With the amount of data now at our disposal, it is important to give such personnel and individuals with the particular skill set of a data intelligence analyst the importance they are due.