Business intelligence (BI) is a technology-driven process that transforms raw data into meaningful and actionable insights. An industry that thrives on ingenuity and creativity, business intelligence is fast becoming the nerve center of business decision making. So, is business intelligence a good career? This article will delve into this question, unraveling the promises and challenges of BI and the prospects it holds for professionals.
Why Business Intelligence is a Good Career
Business Intelligence has become indispensable in the modern business landscape. The realm of business intelligence is expanding, making it fertile ground for career growth.
In-demand Skill
According to LinkedIn’s 2020 Emerging Jobs Report, Business Intelligence and Data Science roles persistently rank among the fastest growing jobs. The proliferation of data in all sectors of the economy precipitates a growing demand for professionals adept in gleaning insights from vast datasets. Consequently, a career in business intelligence promises vast opportunities.
Big Data Boom
Big data is a modern gold mine for firms worldwide. As global data volume is expected to reach 175 zettabytes by 2025, the need for data analysis through business intelligence will remain at an all time high, making this a highly lucrative career field.
Financial Rewards and Stability
Business Intelligence is among the high paying fields in IT. According to the U.S. Bureau of Labor Statistics, the median annual wage for computer and information research scientists, including those in Business Intelligence, was $122,840 in May 2019. This signifies the financial rewards and stability that a career in BI offers.
Essential Skills for a Successful BI Career
Skill acquisition is pivotal to excelling in the field of business intelligence. Here are some core skills to master:
Analytical Skills
Professionals in BI must possess strong analytical capabilities and be able to synthesize a vast array of data into comprehensible reports and visual representations.
Technical Skills
Core technical skills necessary in this field include proficiency in SQL and Business Intelligence software like Tableau, PowerBI and SAP Business Objects.
Industry Knowledge
Keeping abreast of industry trends is crucial in providing relevant solutions and recommendations.
The Scope of Business Intelligence Jobs
Business Intelligence offers a myriad of roles to choose from. You could be a Business Intelligence Analyst, engaged in data mining and analysis to steer strategic decision making. Or, you could be a BI Project Manager, coordinating and managing BI projects from initiation to completion.
The Role of Business Intelligence in Global trade and Economics
Not only does BI permeate all sectors, it also plays a vital role in global trade and economics. In global trade, BI aids businesses in tapping into new markets, understanding existing ones, and providing sound competitive strategies. Economically, BI is valuable in economic forecasting and strategizing.
Preparing for a Career in Business Intelligence
Given its technical nature, gaining a strong foothold in BI often necessitates a bachelor’s degree in computer science, mathematics or business administration. Professionals may further bolster their repute with BI specific certifications such as Certified Business Intelligence Professional (CBIP).
Conclusion
Is business intelligence a good career? With the clear surge in demand for BI professionals, the generous pay packages, and the array of specializations available, the answer is a resounding yes. However, success in business intelligence requires constant skill upgrade and adaptability in the face of fast-changing technology and business landscapes. Thus, for those inclined towards technology and analytical problem solving, business intelligence is not just a good career – it’s an excellent one.