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Business intelligence analysts use data to help businesses make decisions. Once you have the skills you need, there are many ways you can become one.
Business Intelligence Analysts Salary
A business intelligence analyst, also known as a BI analyst, uses data and other information to help organizations make sound business decisions.
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Although the exact job descriptions may vary, the role of a business intelligence analyst can be divided into three parts:
A business intelligence analyst in the United States earns an average salary of $84,635, according to Glassdoor data as of June 2021 [1]. Compare this with similar roles.
Business intelligence analysts may begin their careers in analytical roles such as data analysts. They may become business intelligence consultants, business intelligence architects, managers, or other senior positions.
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Business analysts, not to be confused with BI analysts, also analyze information to make recommendations for business improvement. But while BI analysts work more directly with data to discover insights, business analysts generally deal with the practical application of those insights.
Professional Certificates or Online Courses: A professional certificate or course is a good way to build necessary skills, such as data analysis or familiarity with Power BI. Often without prior experience, certificates or online courses offer the flexibility you need to explore a new field without disrupting your life. The University of Colorado offers a Data Warehousing Business Intelligence specialization that can teach you the fundamentals of business intelligence analysis.
You can also become a Certified Business Intelligence Professional (CBIP) if you have two or more years of experience in computer information systems, data modeling, systems analysis, or a related field.
Business Intelligence Analyst Salary And Job
Read the list of SQL and database certifications. You may also want to consider Google’s Professional Certification in Data Analytics.
Bachelor’s Degree: A bachelor’s degree can provide you with the technical and critical thinking skills needed to become a BI analyst. Focus your studies on a quantitative field such as finance, mathematics or data science.
Masters: A master can build on your previous experience and education to move you into a role as a business intelligence analyst. It’s a good idea to consider your past experiences to decide which field is best for your major.
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If you have been working in business for several years and need a stronger knowledge of data, a Master of Data Science may suit your needs. If you have a solid understanding of data analysis but need a better understanding of business, an MBA program with a focus on business analysis may be what you’re looking for.
Business intelligence analysts use critical thinking skills and quantitative skills to help businesses improve and grow. As data plays an increasingly important role in our daily lives, BI analysts are expected to be critical to business operations for years to come.
A bachelor’s degree is the most common requirement for BI analysts. Start developing the skills you need on the job by majoring in statistics, business administration, computer science, or a related field. Some BI analysts may earn a Master of Business Administration (MBA) or a master’s degree in data science.
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The path to a career in business intelligence can begin with an entry-level role as a data analyst or business analyst. As you gain more skills and experience as a BI analyst, you can choose a career in leadership and management, or focus more on data, becoming a data scientist or data engineer.
If you’re interested in the technical side of business intelligence, consider a career as a BI developer. In this role, you will support your organization by developing reports, search and visualization tools, interactive dashboards and interfaces.
If you are interested in both business strategy and data analytics technologies, then business intelligence may be a good field to consider. BI analysts also make more than other IT professionals and are needed in a variety of industries.
Data Analyst Salary
This content is made available for informational purposes only. Students are encouraged to do additional research to ensure that courses and other certifications meet their personal, professional, and financial goals. The demand for data analysts has increased in recent years and especially since the Covid-19 pandemic. Given the demand for highly qualified data analysts, a corresponding increase was observed in salaries. PayScale shows that data analysts in organizations and consulting companies are paid an average salary of $64,000, but much depends on the analyst’s qualifications and years of experience, technical skills, employer, location and industry.
In this blog post, we’ll discuss the high salaries of data analysts in various industries and what you can do to increase your value and negotiate a higher salary as a data analyst. But first, let’s look at what a data analyst does.
Every business generates a lot of data that is a potential gold mine of information, and they need data analysts to help them uncover it. For example, know the best-selling product lines by geography or follow trends in customer activity by day and hour. Data analysts are technology workers who use a combination of analytical skills, programming languages, and business knowledge to perform statistical analysis on vast data sets and glean actionable insights from them.
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According to the LinkedIn community, the median salary for a data analyst in the United States is $90,000. Analysts can earn up to $125,000 depending on experience, location, industry, type of business, etc. You can also earn annual and sign-on bonuses. Bonus in addition to salary.
The 2022 Robert Half Technology Salary Guide found that the average salary for an entry-level data analyst is $116,375. Professionals with special skills and experience can earn $167,913.
As you can see from the table above, your skills and experience have a big impact on the salary you can earn.
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Here are some common roles in data and a potential career path for each. These are the options you can choose from, not necessarily linear progressions.
Now that you know the essential difference between a data scientist and a data analyst and a data engineer, let’s delve into the career paths that a data analyst can take.
The primary responsibility of an entry-level data analyst is to identify trends, patterns, and relationships in collected data and generate insights. They also use data mining techniques to organize information and present reports to stakeholders. Organizations use these insights to make business decisions.
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You don’t need a degree in math or statistics to find a job as a data analyst, although that’s a definite plus. Today, many organizations are open to hiring professionals with a basic education and certification in data analysis, along with strong technical skills. The skills required to become a data analyst include programming languages such as Python or R, database languages such as SQL, analytical tools such as Microsoft Excel, and computational environments such as MATLAB.
Entry-level data analysts can earn between $41,000 and $93,000. Data analytics managers with experience can earn over $250,000.
At their core, business analysts are analytical problem solvers who work within a business or organization to identify areas that can be improved; They work with stakeholders such as managers, technical teams, vendors and others to offer data-backed recommendations.
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Primarily a business-oriented role, bachelors often have a bachelor’s degree in business or project management. They are also required to develop skills such as critical thinking, logical reasoning, analysis and design thinking. Knowledge of tools like SQL, BPMN, Microsoft Visio and Excel which helps them in data mining and cleaning, reporting etc. Business analysts earn an average salary of $70,000 in the United States, and those with 3-4 years of experience in the role can earn $109,000 per year.
A marketing analyst (MA) is very similar to a business analyst, but specializes in marketing data to derive information about sales, markets, channel performance, and promotions. The Master combines research skills, analytical skills and marketing knowledge such as customer profiling, ROI calculations and advertising channel performance. For example, a marketing analyst needs to know what conversion rates are, what cost per conversion is, what customer lifetime value is, etc.
In addition to tools used by data analysts (such as Python or R), MAs also use Google Analytics, online advertising, and CRM tools.
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The average salary for a marketing analyst starts at $59,400 and can reach up to $122,000, depending on experience level. This role can also become a senior analyst, marketing consultant or strategist with a higher pay package.
The industries that pay the best salaries for data analysts are the ones that benefit the most from big data analytics. These include technology, healthcare, finance and government agencies.
Data analysts play an important role in technology companies and therefore earn high salaries. There are several different types of technology companies, and your role as an analyst in each will be slightly different, tailored to the individual company.
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