What skills do you need to be a business intelligence analyst?
A few skills needed to be successful as a BI analyst include:
- Data analysis: Analysts need to be able to analyze vast amounts of data and know how to manipulate and make sense of the data
- Communication: Analysis is not enough to spur action if the analyst cannot effectively communicate their findings—data visualization often helps with this aspect
- Problem-solving: The ability to think critically about data findings to determine causation and the likelihood of future outcomes is an essential part of BI analysis
- Technical: Expertise in tools like R, MicroStrategy, and query languages like SQL and NoSQL are necessary to manipulate and analyze data
- Industry-specific—A BI analyst can set themselves apart with industry-specific knowledge and experience to expedite analysis
Which business intelligence tool is the best?
Each organization will need to assess their business goals and align internal resources and skillsets to find the BI tool that’s best for them. For instance, large enterprises with thousands of users and hundreds of data sources will need a powerful tool like MicroStrategy as opposed to manual spreadsheet methods.
What are some business intelligence tools?
A few of examples of BI tools are:
- Open source free products—Apache Hive, KNIME, and R
- Open source commercial products—Palo and Pentaho
- Proprietary free products—Splunk and Datacopia
- Proprietary commercial products—MicroStrategy and Excel
What is the role of the business intelligence?
BI plays a key strategic role in the planning and process of organizations. It provides the data and insight for executives, managers, and analysts to make the right decisions to drive key business goals and growth.
What is business intelligence and how does it work?
Business intelligence is the collection of strategies and tools used to analyze business information. It is a key function to strategic decision-making in organizations. It works by utilizing a process such as ETL to extract, transform, and load data into a database for use in reports and data dashboards. Advanced analytics can be layered within BI platforms to aid in the decision-making process.
What does a business intelligence specialist do?
BI specialists are responsible for the requirements gathering, daily management, architecture design, implementation, and reporting output of business intelligence systems.
Is Excel a business intelligence tool?
Excel is a form of business intelligence tool, as it allows for the analysis of business information. However, many organizations are moving away from Excel because other tools have more to offer with real time analytics and better collaborative functionality.
What is meant by a data mart?
A data mart is a subset of a data warehouse and is often segmented by departments within an organization.
What are the different types of data marts?
There are three types of data marts:
- Independent data marts: These are created without the use of a data warehouse
- Dependent data marts: These are created from an existing data warehouse
- Hybrid data marts: These combine data from an existing data warehouse and other disparate data sources.
What is ETL process in data warehousing?
Extract, transform, load (ETL) is a database usage process popular with data warehousing. It involves extracting data from many sources, formatting it into a unified structure, and loading the data into a data warehouse.
What is the difference between OLAP and OLTP?
OLAP (On-line Analytical Processing) systems analyze data in a data warehouse, while OLTP (On-line Transaction Processing) provides source data to data warehouses.
How much does a business intelligence analyst earn?
Business intelligence analysts earn about $80,000 a year on average in the United States.
What is the main goal of business intelligence?
The main goal of business intelligence is to analyze business information to make decisions.
What is the difference between business intelligence and business analytics?
Business analytics is a subset of business intelligence. It is usually prescriptive, while business intelligence is generally descriptive.
Why is business intelligence so important?
Business intelligence allows organizations to act quickly on internal and external trends and make timely, data-driven decisions. It can be a strategic competitive advantage.