WHAT DO BUSINESS INTELLIGENCE ANALYSTS DO?
Business intelligence analysts use data to figure out market and business trends for companies to increase profits and efficiency. They may work directly for a company or as a consultant. Business intelligence analysts gather this data through a number of ways, from mining a company’s computer data through software, looking at competitor data and industry trends to help develop a picture of where the company stands in the industry, where they can improve and where they can reduce costs.
Business intelligence analysts spend most of their time analyzing data. Past trends, current conditions, etc. They able to look at large chunks of data and understand trends, and then communicate those trends to the company.
HOW MUCH DO BUSINESS INTELLIGENCE ANALYSTS MAKE?
According to the Bureau of Labor Statistics (BLS), management analysts jobs like business intelligence analysts made a median income of $78,160 per year in 2010, or $37.58 an hour.
WHAT ARE THE EDUCATION REQUIREMENTS?
Business intelligence analysts have at least a bachelor’s degree in business, management, accounting, economics, statistics, information science or similar. More complicated jobs may require a master’s degree in business administration (MBA).
JOB SKILLS AND REQUIREMENTS
- Technical Skills: Business intelligence analysts use complex computer programs to mine data sources and look for trends.
- Analytical Skills: A major part of the job is to determine what data trends mean. Being able to analyze the data is crucial.
- Communication Skills: Once the data is analyzed, business intelligence analysts must communicate their findings to the company or their managers.
- Problem-Solving: Business intelligence analysts need to look at the data trends and recommend solutions for creating more revenue and reducing loss.
- Time Management: Business intelligence analysts work on large projects and many data streams and many deadlines. Being able to juggle it all is crucial to the job.
THE FUTURE OF BUSINESS INTELLIGENCE ANALYSTS
All management analyst jobs will grow faster than the national average for jobs between 2010 and 2020, according to the BLS. As companies look to maximize profits and reduce costs, demand will continue to grow.