Business intelligence involves bringing together and examining information from disparate, both internal and external sources, to acquire knowledge. Data mining, data visualization, and predictive analysis are utilized to assess the data and attain viable outcomes.
Most companies depend on business intelligence professionals as it helps them know their competitors and be ahead of them in today’s competitive market. By the optimal use of data, they understand the needs of the organization and their customer base to drive growth and success.
With an estimated growth of USD 29.42 billion in 2024 to USD 54.27 billion by 2030, the Business Intelligence market is set to reach 9.1% CAGR by the end of 2030. The predicted growth rate implies one thing- an upcoming rise in the demand for Business Intelligence professionals and a promising, lucrative career.
Let’s dive in to learn more about Business Intelligence analysts, their roles and responsibilities, and finally, the offered salary figures to keep them motivated!
Who Are Business Intelligence Analysts?
As its title implies, a Business Intelligence Analyst is given over the task of evaluating business-related material and supplying useful observations which relate to the firm allowing organizational leaders to reach discernible conclusions.
Business Intelligence Analysts must inspect considerable volumes of figures from multiple origins like customer reviews, financial records, and trade tendencies amongst others with the help of enterprise analytical techniques and tools.
Their primary goal is to assist organizations in making informed financial decisions by providing accurate business assessments. This means they can operate in varied industrial domains and are habitually hired by companies that favour decision-making based on data.
They should have an inherent familiarity with statistics, data assessment, and company direction. Employing their aptitude helps these enterprises grow their overall performance.
What Do They Do?
Business Intelligence Analysts are entrusted with several responsibilities. Here is a list of the tasks they perform:
- Business Intelligence Analysts collect and analyze data from databases, spreadsheets, and data warehouses with the help of various tools.
- They develop metrics and Key Performance Indicators and track them from time to time.
- They provide insightful opinions after analyzing data to stakeholders and decision-makers.
- They ensure data accuracy by diligently checking and addressing any discrepancies that may arise through resolution efforts.
- They collaborate with other departments to efficiently evaluate the needs and problems that the employees face and arrive at solutions.
If you want to establish yourself as a Business Intelligence Analyst, take the KnowledgeHut Business Intelligence Analyst and Visualization training. It will equip you with all the hard and soft skills necessary for a bright career in Business Intelligence (BI).
Business Intelligence Analyst Salary in 2024
If you wish to pursue a job as a Business Intelligence Analyst, you must take salary estimations into account. Below is a full guide on the various salaries one can expect depending on the place of work and level of expertise:
Average Business Intelligence Analyst Salary
| Average Business Intelligence Analyst Salary Per Hour | USD 43.93 |
| Average Business Intelligence Analyst Salary Per Month | USD 6,293 |
| Average Business Intelligence Analyst Salary Per Year | USD 75,516 |
Business Intelligence Analyst Salary: Based on Experience
As your experience in any field increases your chances of getting paid better. Business Intelligence is no exception. There are various levels in this field, too, and as you tread towards senior positions in terms of experience, you receive better pay packages. For example, a senior manager Business Intelligence Analyst's salary is higher than most other positions.
Beginner
A junior Business Intelligence Analyst salary, on average, is USD 66,375 per annum.
Intermediate
An intermediate-level Business Intelligence Analyst earns USD 71,150 per annum on average.
Advanced
An advanced Business Intelligence Analyst can earn up to USD 110,000 and beyond per annum.
Business Intelligence Analyst Salary: Based on Location
India
| City | Average Salary Per Year | Company |
|---|
| Delhi | INR 1,603,878 annually | McKinsey & Company |
| Mumbai | INR 1,814,093 annually | Netcracker Technology |
| Bengaluru | INR 1,591,574 annually | Amadeus |
United States of America
| City | Average Salary Per Year | Company |
|---|
| Dallas | USD 126,401 | Wellington Management |
| Los Angeles | USD 158,258 | USDM Life Science |
| Boston | USD 127,991 | Janus Henderson Investors |
United Kingdom
| City | Average Salary Per Year | Company |
|---|
| Leeds | GBP 67,872 | Client Server |
| Reading | GBP 65,890 | Post Office Ltd. |
| London | GBP 78,565 | Sanderson |
Australia
| City | Average Salary Per Year | Company |
|---|
| Canberra | AUD 136,432 | Kinexus |
| Sydney | AUD 131,014 | NSW Health |
| Wagga Wagga | AUD 131,939 | Precision Sourcing |
Canada
| City | Average Salary Per Year | Company |
|---|
| Toronto | CAD 94,501 | Defence Construction |
| Vancouver | CAD 109,599 | NAV CANADA |
| Edmont | CAD 99,523 | Amazon |
Singapore
| City | Average Salary Per Year | Company |
|---|
| Jurong East | SGD 139,176 | Standard Chartered Bank |
| Clementi | SGD 139,176 | Standard Chartered Bank |
| Simei | SGD 139,176 | Standard Chartered Bank |
Business Intelligence Analyst Salary: Based on Industry
Every industry has its own pay scale. There are certain industries that pay more than the rest to their employees. Here is a table enumerating the variations in pay scale based on the industry:
| Industry | Average Salary Per Year |
|---|
| Finance | USD 89,715 |
| Healthcare | USD 96,611 |
| Business Intelligence | USD 87,715 |
| Sharing Economy Services | USD 70,000 |
Business Intelligence Analyst Salary: Based on Skills
Skills largely affect Business Intelligence Analyst salary. Some skills are more in demand when compared to others. For example, a credible Data Visualization with Tableau course can help you get a better salary than others since it is a sought-after skill among Business Intelligence Analysts. Here is a guide on the percentage increase in salary you can expect if you have certain skills as a Business Intelligence Analyst:
| Skills | Average Salary Per Year |
|---|
| Python | USD 83,248 |
| R | USD 123,147 |
| Power BI | USD 76,500 |
| SAS Analyst | USD 82,926 |
| Tableau | USD 95,717 |
| Azure | USD 87,500 |
| Node.js | USD 128,232 |
Factors Affecting Business Intelligence Analyst Professional Salary
Here are some of the factors that may affect a Business Intelligence Analyst salary:
Location
The location of a company has a direct effect on the Business Intelligence analyst Salary. The standard of living of an area and the availability of resources in the place concerned heavily influence the salary of a BI Analyst.
The United States of America pays the highest salary to Business Intelligence Analysts. The average Business Intelligence Analyst salary in the USA is USD 128,515 per annum. Australia pays the second highest salary. Switzerland, the Netherlands, and the United Kingdom also pay Business Intelligence Analysts well.
Company
Companies like Accenture, TCS, and Capgemini pay their Business Intelligence Analysts way more than other contemporaries. The revenues of smaller businesses are lower than tech giants. Hence, they cannot afford to pay as much as the giants.
Experience
In any industry, employees tend to earn more with greater years of experience. The average salary of an entry-level Business Intelligence Analyst is somewhere around USD 66,375 per annum. This will increase as and when a person gains more experience. A senior Business Intelligence Analyst salary is around USD 108,373 per annum.
Demand and Supply
The demand for qualified business intelligence analysts has increased in recent years. However, the supply of qualified and skilled business intelligence analysts is relatively lower. This is why companies are ready to pay qualified analysts a hefty salary. Thus, in places where the demand is high, and supply is low, employees are likely to get paid better.
Certifications
In today’s world, it is just not sufficient to have a college or university degree. Everyone must constantly upskill themselves to remain employable in the competitive market. There are many credible online as well as offline courses available that one can choose from. Business Intelligence Analyst and Visualization training is ideal to remain relevant in today’s job market.
Since newer technologies are coming up every day, it is important for you to upskill yourself with newer technologies. These will help you remain employable and also increase your worth as a professional. A few important certifications for Business Intelligence Professionals are:
- Certified Business Intelligence Professional
- IBM Data Analyst Professional Certificate
- Microsoft Certified: Power BI Data Analyst Associate
- SAS Certified Specialist: Visual Business Analytics
- Tableau Certified Data Analyst
Skills
Business Intelligence Analysts must effortlessly handle several areas. They must have a diverse skill set to excel in their field and bag lucrative pay packages. Skills like data analysis, statistical analysis, project management, data visualization, programming, and coding are some of the most sought-after skills in Business Intelligence Analysts.
How to Improve a Business Intelligence Analyst Professional’s Salary?
Skills
Skills like data analysis, statistical analysis, data visualization, business communication, operations, and knowledge of programming languages like SQL, are highly sought after among Business Intelligence Analysts.
Certifications
Certifications from reputed authorities go a long way to helping people climb the corporate ladder. You can get a Business Intelligence Analyst and visualization training certification from KnowledgeHut for excellent job opportunities and great pay packages.
You could also consider taking up some more certifications, such as:
- Google Business Intelligence Professional Certificate
- Tableau Desktop Specialist
- Tableau Server Certified Associate
- Microsoft Certified: Power BI Data Analyst Associate
- QlikView Business Analyst.
Degrees
A background in Data Science is the most helpful when it comes to a career as a Business Intelligence Analyst. You can get the best jobs after a Master’s degree in Data Science with additional certifications. There are also many companies that recruit candidates with a PhD in Business Intelligence as consultants. PhD holders are paid more than the rest in such cases.
Experience
Most employers demand sufficient experience in the field of Business Intelligence before arriving at a decision. You could take up internships while pursuing your degree to get a good entry-level job. You should also consider working as a junior-level Business Intelligence Analyst for a few years to get promoted to the next level while upskilling yourself constantly. For example, a senior director Business Intelligence Analyst salary is higher because they need at least 10 years of experience to reach that position.
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Why Are Business Intelligence Analyst Professionals Paid So Much?
Business Intelligence Analysts are rewarded with high compensation due to their exceptional combination of technical and business proficiencies, which are consistently sought after. Their primary responsibility involves analyzing and interpreting vast data sets to identify trends and patterns, enabling them to deliver their findings to stakeholders to facilitate optimal business decisions.
It's not just a matter of analytical ability: these experts must also possess strong commercial acumen and impeccable communication skills that enable them to collaborate across teams and foster positive relationships with shareholders. Due to the tremendous impact their opinions make on business outcomes, professionals in this field command impressive salaries across various industries.
Final Thoughts
It is evident from the projections and statistics that Business Analytics is a promising career for many. All companies have adopted a data-driven approach to make decisions and generate revenue.
It has also been made amply clear that the demand for skilled business intelligence professionals will only increase in every sector in the coming years. Not just the demand, the salaries are also likely to increase given the rapid advancement of technology.
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