As the relationship between data analytics and IT security gets closer and closer, data governance is becoming more and more important. As a result, BI tools become more reliable and secure, with an emphasis on lowering operational risk.
Let’s discuss the following topics we are going to elaborate on:
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Who is a Business Intelligence Analyst?
A Business Intelligence Analyst collaborates with business users to identify the data requirements for new analytical applications and to create conceptual and logical models for the data warehouse or data mart. They want to create procedures for collecting and keeping track of information from every data warehousing component.
Business intelligence analysts also work with business requirements, converting data into analytical insight and seeking to use the best method to find the correct solution.
In order for executives, managers, clients, and other stakeholders to analyze the business, financial, or economic data, they produce standard or customized reports.
By examining market rivalry strategies or researching related markets, products, share movements, etc.
They gather business intelligence data from publicly accessible industry reports and publicly available data.
Everyone questions, “What is a Business Intelligence Analyst’s working process? ” Read this blog in full detail to find out the answer to the above question.
What does a Business Intelligence Analyst do?
You may easily observe, comprehend, and share analytics by using the seven main characteristics of the modern approach to business intelligence that are outlined in this subtopic.
Consider these qualities when selecting software solutions to empower your entire organization—from executives to analysts to IT, across departments and regions, in the office.
Business Intelligence Analysts always work by using five key factors that can help the organization which are as follows:
Speed
The modern method enables you to view and understand the material at the speed of thought. Even while analyzing vast and varied data sets, you can ask and respond to questions as quickly as you can conceive of them.
If your data is to be useful, the insight into the decision process needs to move swiftly. The modern approach helps you save time throughout your workflow, including when installing the program, gaining access to vast amounts of data, publishing dynamic dashboards, and sharing throughout your organization.
Visual Data Discovery
While visualizations can be slow and challenging to create without the proper tools, they can reveal insights hidden in raw data.
You must examine data in rows and columns in a spreadsheet, select a subset to display, and then make a chart using that sub-table. Traditional tools also have difficulty constructing charts using wizards and text-based commands.
Modern BI tools, however, omit those processes. With only a few drag-and-drop operations, they make it simple for you to build visual representations of your data.
The principles of visual analysis are the foundation of modern business intelligence, making it simple to identify abnormalities, outliers, and trends in your data without having to shift through endless spreadsheets.
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Connect to Random Data
The flexibility of modern BI allows users to effortlessly mix vast amounts of data from many systems and business areas. Any size of data may be handled by this technology, even petabytes.
Raw or unstructured data can be used with it. It works with spreadsheets and text files, which companies worldwide use. Most importantly, you can examine your data without having to relocate your data to a new location.
Real-Time Collaboration
Collaboration is hindered by traditional BI methods. Prepared reports don’t always address all of your concerns, and you frequently find yourself talking about issues rather than answers.
With modern BI, you can instantly filter, sort, debate, and alter data. Dashboard changes and updates can be made instantly using easy drag-and-drop operations. The sophistication of the software does not impose any restrictions on you.
With live dashboards viewable in a web browser or embedded in cloud applications like Salesforce or SharePoint, even sharing is made simple.
Scalability
Organizations often want to start small with analytics programs and gradually add more users as time goes on. Traditional BI tools, on the other hand, are challenging to configure and manage, making it challenging to swiftly scale out a deployment.
You can start small and scale at your own speed with the help of modern BI technologies.
The current solution covers all phases of an organization’s analytical evolution, whether the need is for one business analyst with one data source or 10,000 field representatives viewing reports from mobile devices.
Prerequisite Required to Become a Business Intelligence Analyst
A wide range of skills, such as soft skills, analytical skills, and technological skills, are necessary for people who want to become Business Intelligence Analysts.
Let’s see the basic skills required to become a Business Intelligence Analyst:
- Good communication skills.
- Fundamental familiarity with the Microsoft Windows operating system.
- Basic knowledge of using a web browser and the Internet.
- Understanding the reporting and business intelligence requirements of a company.
- Background with simple databases is preferred.
- Preferable is some familiarity with XML.
- Exposure to the learning environment of the IBM Skills Academy portal.
- Hands-on experience with the platform for IBM Skills Academy’s cloud-based hands-on labs.
Business Intelligence Analyst Salary in India
We will categorize the BI Analyst Salary into three parts – Experience, Industry, and Job location.
Business Intelligence Analyst Salary In India – Based on Experience
An entry-level Business Intelligence Analyst makes an average annual income of Rs 5 Lakhs annually with less than 3 years of experience.
The average annual income for a Business Intelligence Analyst in their mid-career with 4 to 9 years of experience is Rs 9.3 Lakhs.
While the average annual salary for an experienced Business Intelligence Analyst with 10 to 20 years of experience is Rs 12.50 Lakhs.
For Example:
- Junior Business Intelligence Analyst’s average annual salary is around ₹5,00,967.
- A Senior Business Intelligence Analyst’s average annual salary is ₹11,21,622 in India.
Business Intelligence Analyst Salary In India – Based On Industry
Now, let’s see the BI Analyst Salary based on various industries so you can have a better idea about it.
BI Analyst Salary in Advertising / PR / Events Companies
For these companies, the Business Intelligence Analyst’s Salary in India ranges between ₹ 3.3 Lakhs to ₹ 7.7 Lakhs with an average annual salary of ₹ 3.6 Lakhs.
BI Analyst Salary in Agriculture Companies
A Business Intelligence Analyst’s average annual salary in India ranges between ₹ 6.7 Lakhs to ₹ 28.8 Lakhs.
BI Analyst Salary in Automobile Companies
Business Intelligence Analyst Salary in India ranges between ₹ 3.3 Lakhs to ₹ 13.7 Lakhs with an average annual salary of ₹ 10.2 Lakhs.
Business Intelligence Analyst Salary In India – Job Location
Let’s see the huge variations in salaries by shifting the job location from one place to another.
BI Analyst Salary in Bengaluru/Bangalore
With an average yearly pay of 7.3 Lakhs, the Business Intelligence Analyst Salary in Bengaluru/Bangalore ranges from 4.0 Lakhs to 15.0 Lakhs.
BI Analyst Salary in Hyderabad/Secunderabad
BI Analyst Salary in Hyderabad/Secunderabad ranges between ₹ 3.6 Lakhs to ₹ 16.5 Lakhs with an average annual salary of ₹ 6.5 Lakhs.
BI Analyst Salary in Pune
Business Intelligence Analyst Salary ranges between ₹ 3.0 Lakhs to ₹ 14.1 Lakhs with an average annual salary of ₹ 6.8 Lakhs.
Future Scope of Business Intelligence
We have observed the numerous elements affecting the business intelligence analyst salary. Let’s now have a look at the future employment prospects for recent grads in this field.
The process of corporate development depends heavily on business intelligence systems. They assist in forming important judgments based on relevant facts extracted from a sizable, intricate database system.
By obtaining real-time data and information for market forecasting, business intelligence also plays a significant part in the expansion and profitability of businesses.
Companies are searching for the finest data integration techniques to connect crucial information from electronic and computer devices to their business intelligence platforms
Organizations have utilized a variety of technologies in the past to incorporate data into their business intelligence tools.
In order to satisfy the ad hoc needs of business intelligence customers, business intelligence has significantly improved in terms of data and information integration during the past three decades.
Conclusion
In this blog, we tried to explain Business Intelligence and its working process. Furthermore, we also discussed attractive salaries and the various factors that directly impact the business intelligence analyst salary. We hope this blog was insightful to kickstart your career in this particular field for your bright future.