Business Intelligence is referred to as the applications and practices used to represent business data. These practices help in making better decisions and also help in developing the business. The Business Intelligence system helps any particular organization/firm to collect, store and manipulate data/information in such a way that it helps in the growth of the business. A lot of questions are asked regarding this field, especially by the newcomers. Let us look at some frequently asked questions about business intelligence and their answers.
Q – What are the skills required for Business intelligence?
A – A person must have soft skills like communication and writing skills, problem-solving approaches, etc. Besides soft skills, one must know how to use various analytics applications such as SQL, ZOHO, Microsoft Business Intelligence, etc. He/she must be able to analyse the given data and use it for business development. A person should be good at taking business-related decisions. These skills are enough for a beginner but you will have to learn more and more if you want to grow after settling in this field of BI.
Q – Where to start learning about business intelligence?
A – There is no shortage of books and resources available for learning Business ntelligence. Some books like ‘Successful business intelligence’ by Cindi Howson, ‘Business intelligence roadmap’ by Larissa T. Moss & Shaku Atre, ‘Business intelligence guidebook’ by Rick Sherman are regarded worldwide as some of the best books on Business Intelligence. Besides these, you can get many post-graduation courses and online courses on Business Intelligence. The IIBA (International Institute for Business Analysis) also offers certification courses and resources on business intelligence. If you just need to add Business Intelligence as a skill in your resume, go for online certification courses.
Q – What are the top job roles in Business Intelligence?
A – Some top job roles in Business Intelligence are as follows –
• Business Intelligence project manager
• Business Intelligence specialists
• Business Intelligence consultants
• Business Intelligence director
• Business analyst
Q – What is the future of Business Intelligence?
A – The backbone of business intelligence is data and information. As you can see big data and its analytics is expected to grow more and more. According to reports, there will be a rise of 14% in the hiring of Business Intelligence experts in 2020. The Business Intelligence tools and applications are giving more accurate results day by day. The big data is supposed to keep flowing with an increased rate in the future too, so to collaborate and manage this big data, analysts will be required. The future of Business Intelligence is quite vast.
Q – What is the difference between analytics and Business Intelligence?
A – It may be confusing in starting as both these terms are used simultaneously. Business Intelligence is a subset of business analytics. Analytics uses the generated data to fulfil current business needs. It helps in increasing productivity and making better business decisions. Whereas Business Intelligence only focuses on current business needs.
Q – What is the average salary for job roles in Business Intelligence?
A – In the USA, the average business analyst salary is $68,075. In India, it is ₹ 7,98,671 per year. The salary also exceeds as you step up, the Business Intelligence Directors in India have an average salary of ₹30 lakhs per year.
Q – What are the focus areas of Business Intelligence?
A – Business Intelligence focuses on the following sectors
• Customer satisfaction level.
• Smart business predictions.
• Cost customization.
• Cross-selling and up-selling.
• Market share analysis.
• Defect/loss reduction.
• Profit and revenue management.
Business Intelligence helps in making smart business decisions that increase the profit as well as the market share of the firm/company. It also helps in finding customer satisfaction levels and customer loyalty. This article was all about FAQs asked regarding business intelligence and its answers. The questions and answers are framed for the beginner level. I hope it helps!