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A business intelligence analyst analyzes data to prepare market intelligence and financial reporting. These reports identify patterns, trends, and performance indicators in a particular industry that may affect a company's actions, goals, and objectives. This information is used to make decisions about plans and strategies.
In addition to analyzing data, a business intelligence analyst must use various software programs and databases to collect, store, process, analyze, and report data. These include spreadsheets, statistical analysis packages, relational database management systems, and specialized analytical tools such as SQL Server Analysis Services, Oracle Database, SAP HANA, Tableau Software, Microstrategy, Cognos Analytics, and Microsoft Excel.
The business intelligence analyst uses regression, correlation, forecasting, trend, benchmarking, and hypothesis testing techniques to develop and refine models that predict outcomes.
Business intelligence analysts are expected to make around $61K per year on average, according to Payscale.com. This figure includes base salary plus additional pay such as bonuses and profit sharing. Salaries for BI analysts range from $50K to $70K depending on the organization's size.
The majority of BI analyst jobs are full-time positions. However, some companies offer flexible hours, telecommuting, and job shares.
Average Base Salary
According to Payscale.Com, the average base salary for business intelligence analysts is $59,942 annually. The lowest 10% earned $49,811 while those in the highest 10% earned $79,543.
Median Base Salary
On average, BI analysts earn about half of what the median employee makes ($58,068). Those in the bottom 10% earn $48,621, while employees in the top 10% earn $78,746.
Business intelligence analysts work with data sets to make sense of it. They use tools like Microsoft Excel, SAS, and Tableau to analyze information and discover trends. BI analysts often specialize in one particular field, such as marketing analytics, customer relationship management, or financial reporting. In addition to analyzing data, they might write reports about their findings. Some BI analysts focus on creating dashboards and visualizations. Others design databases. Still, others perform statistical analysis.
The Bureau of Labor Statistics predicts employment growth for business intelligence analysts through 2022. Employment opportunities are expected to grow 22% during the next 10 years. This is faster than average for all occupations.
Analysts typically earn $64K per year. However, some BI analysts can earn up to $103K annually. Median annual earnings hover around $72K.
Business intelligence analysts are information technology professionals responsible for collecting, analyzing, interpreting, and reporting data to help businesses gain insights into how well their operations are performing. These individuals use analytical tools like spreadsheets, databases, and statistical software to perform data mining and report findings that provide valuable information to management teams. They often work closely with marketing, sales, human resources, and finance departments to identify the operation's issues and suggest ways to improve them.
A business intelligence analyst typically works full-time, although some companies offer flexible hours and part-time positions. Most BI jobs require a bachelor’s degree in computer science, statistics, mathematics, economics, or a related field. Some employers prefer applicants with experience working with databases, while others look for candidates with strong communication skills. A few organizations hire people without specific technical training, but most require years of relevant experience.
The term "business analyst" is often used interchangeably with "BI analyst." However, there are some essential differences between the two roles. A business analyst focuses on applying analytics within a specific industry, whereas a BI analyst works across multiple industries and deals more directly with data.
A business analyst might work for a financial institution, helping to implement a new system for analyzing customer credit risk. This person could use the same skills as a BI analyst to help identify patterns in data and recommend ways to improve the organization's operations.
Meanwhile, a BI analyst might work for a consulting firm, providing advice on utilizing big data best to solve problems. He or she could use techniques similar to those used by a business analyst to provide insight into how to improve the client's bottom line.
Business intelligence analysts are often hired because they know how to use analytics tools like Tableau and QlikView. They work closely with business leaders to analyze data sets and provide recommendations about what actions to take based on those insights. BI analysts typically work in large companies such as banks, insurance firms, retailers, and manufacturing companies.
Our research found that the average salary for a Business Intelligence analyst is $58,971 per year. This is above the national median income of $53,482 and above the regional median income of $45,851.
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