Business intelligence analysts are people who assist the management in decision making in an organization. They carry out research and obtain information, statistics, data and facts that would help to reveal the performance and position of the organization in the industry.
A business intelligence analyst makes use of past and present information to strategize and make future plans and decisions on behalf of the company. They carry out an analysis of the strength and weaknesses of the company and offer solutions to manage weaknesses and threats.
Some of the duties they perform include-:
- Gather information that the company would use for decision making.
- Look out for trends in the industry and offer future projections based on those trends.
- Carry out product research and recommend product improvement strategies.
- Carry out a research on competitors and devise strategies to beat them.
- Investigate business weaknesses and sources of weaknesses and recommend solutions.
To succeed a business intelligence analyst, you would need to have-:
- In-depth knowledge of SQL programming language.
- Strong analytical skills.
- Basic programming skills.
- Theoretical and application understanding of software.
- Effective communication skills.
How to Become a Business Intelligence Analyst
To become a business intelligence analyst, you should first check yourself to see if you have got the skills and personality to become a business intelligence analyst. You have to be hard working, very intelligent and attentive to details. When you are certain that you have got what it takes to start this business, then you should take the following steps-:
Table of Content
- a. Get Trained
- b. Become Certified
- c. Gather Experience
- 1. Plan properly
- 2. Choose a niche
- 3. Set up your office
- 4. Obtain insurance
- 5. Create a website
- 6. Create a brochure
- 7. Shop for office supplies
- 8. Start putting the word out
- 9. Send out proposals
- 10. Design your pricing rates and strategies
- 11. Hone your marketing skills
- 12. Be a great business intelligence analyst
a. Get Trained
A college degree in Business Analysis, Computer Science, Engineering, Business Management or any Computer or Business related course would do. This is necessary to prepare you for the career and make you stand out from every other person in the field.
b. Become Certified
You can further enhance your knowledge and profile as a business intelligence analyst by registering for professional examinations and taking certification examinations. A very popular certification examination for Business Analysts is the Certified Business Analyst Professional (CBAP) organized by the International Institute of Business Analysis.
c. Gather Experience
Now, this is a career where you would need some experience before you go ahead to start your private practice. You can intern in information technology companies, public relations, manufacturing, business and communication companies.
You should also working as a junior business analyst in an organization and then after 3 to 5 years of acquiring relevant experience, you can think of starting a business as a business intelligence consultant. To start your own consultancy practice, you should do the following-:
How to Start a Business Intelligences Analysis Consultancy Firm
1. Plan properly
Before you quit your job to set up your business intelligence consultancy business, you should carry out adequate planning. You should have a business plan written to serve as your blueprint when you begin.
2. Choose a niche
Next, you should choose the industry you want to serve. Do you want to serve the manufacturing and consumer goods industry, the banking industry or work for information technology companies or would you rather have a little something for everyone? It pays to find out the category of companies who need such services more and focus on serving them. However, nothing stops you from offering a little something for everyone.
3. Set up your office
Just like most consultancy businesses, you can start from your home. Just set up a small space in your house- maybe a room that currently not being used and you can start from there. However, working from home needs a lot of discipline because it’s easy to get distracted. If you have enough money, then you can rent an office space. You don’t really need a big office, just somewhere where your clients can visit and where you can keep your files and perform your duties far away from distractions.
4. Obtain insurance
Due to the nature of your job, it is important that you obtain insurance coverage for professional liability and errors and omissions insurance. As a business intelligence analyst, business owners would rely on your opinions and suggestions to make business decisions and if things don’t turn out well, they may hold you responsible. Insurance would take care of such liabilities.
5. Create a website
You need a website for your business. As a business intelligence analyst, I guess you already know how a business website can help your business grow. Websites are very affordable to create and manage these days so, just create one and ensure that you update it regularly to drive traffic to your website.
6. Create a brochure
A brochure is a very good marketing material that would help people know and understand the services you offer. You can hire a professional writer and a designer to help you design a very good brochure for your business.
7. Shop for office supplies
You would need computers, printers, photocopiers, software, fax machines, dedicated office telephone, paper, pens, business cards, flyers and other materials.
8. Start putting the word out
Once you have all your supplies ready, you should start to inform people of your new business. You can start with helping close friends and acquaintances with their businesses. You can also find clients on the internet, just use search engines to look for companies that need the services of business intelligence consultants. You can also check freelancing websites for jobs.
9. Send out proposals
You can also get jobs from corporate organizations around you. What you need to do is to prepare a good proposal letter and send it out to them. Your proposal letter should highlight the benefits of having a business intelligence analyst on their team. You should also point out some of the things that they may be missing out on by not having one.
How you want to charge and receive payments from your clients is completely up to you and also based on your agreement with your clients. However, the popular payment options are hourly rates, flat rates or on project basis.
11. Hone your marketing skills
To succeed, you should ensure that you sharpen your marketing skills and engage the right strategy to drive customers to your business.
12. Be a great business intelligence analyst
Lastly, when you are given a business opportunity in any organization, ensure that you do your best to achieve significant results that would help to maximize their performance and revenue and also justify their need for a business intelligence analyst.