“Every Company has Big Data in its Future and Every Company will eventually be in the Data Business” - Thomas H. Davenport (President’s Distinguished Professor in IT and Management)
Gartner defines Big Data as “high-volume, high-velocity, and/or high-variety information assets that demand cost-effective, innovative forms of processing that enable enhanced insight, decision making and process automation”.
The evolution of Big Data pushed Business Intelligence to the forefront as it came to be acknowledged as the prime means for exploiting Big Data in ways which could facilitate data driven decision making. The above quote by Thomas H. Davenport, is not only an indication of the growing significance of Big Data, but also indirectly hints at the future prospects of a Business Intelligence Career in the job roles of a Business Intelligence Analyst, a Business Intelligence Manager and so on .
The entry of each organization into the data business is bound to increase the importance of Business Intelligence Jobs, by a considerable degree.
In this blog, we will look at the potential prospects of Business Intelligence Jobs. We will try to understand the Business Intelligence Career Path as well as the different BI Job Roles in the global Business Intelligence market.
What is Business Intelligence?
Business Intelligence can be understood as the technological innovation which includes the means and ways employed by business organizations for analyzing business related data. This data is generated at every step of business activity, including observation of industry trends, tracking of sales and inventory, collection of demographic information and so on.
This data may be present in structured or unstructured forms and the idea behind a Business Intelligence Job Description is to aid in the identification and creation of new opportunities for the business enterprise, by interpreting this data.
Business Intelligence involves using business administration principles such as planning, organizing, directing and controlling to gather insights from data that can be used for strategic decision-making.
Business Intelligence Skills can be understood as encompassing the competencies for Reporting, Data Analytics, Benchmarking, Data Mining, Online Analytical Processing, Prescriptive Analytics, Text Mining, Predictive Analytics and so on.
Thus, Business Intelligence Jobs entail the need to delve into the past, understand the present as well as make predictions for the future of business operations.
Wish to read more on the topic of Business Intelligence, do check out our blog on "What is Business Intelligence?"
Business Intelligence Career: Is it Worth It?
As you find yourself positioned at that point where you weigh the pros and cons of a career in Business Intelligence, you might find yourself asking yourself whether a career in BI is worth it after all. In this section, we will look at some of the most important benefits which come with Business Intelligence Jobs.
This is an important concern for any career aspirant. You want to settle for a job, which among others is also able to guarantee you a sense of security. Business Intelligence Jobs are considered to be secured ones, precisely because they are immensely in-demand.
A Business Intelligence Developer, a Business Intelligence Consultant, a Business Intelligence Analysts and so on are considered to be crucial linkages between business thinking and technological understanding. Moreover, as business becomes more and more data-driven, the need for these personnel has increased by leaps and bounds.
Opportunity for Growth
A career in Business Intelligence is not only in-demand, but is also exciting, dynamic and offers immense opportunities for personal growth. Faced with challenges on a daily basis, BI personnel are expected to continually upgrade themselves.
For instance, a Business Intelligence Developer is expected to be competent at analyzing and understanding the needs of stakeholders and software users. Now this need is not static and they won’t be able to respond to their demands if they fail to keep themselves abreast of the latest technology.
Immense Job Prospects
One of the greatest benefits which come with Business Intelligence Jobs is the possibility of pursuing a BI Career across an array of job prospects. Moreover, you can begin your Business Intelligence Career Path at a junior or beginner level and after a definite year of experience, move on to more senior positions wherein you can manage your own team and projects.
Simultaneously, Business Intelligence Jobs are not restricted to a single industry and as a BI aspirant you might find yourself in-demand across several industries including manufacturing, education, sports, banking and so on.
For instance, since a Business Intelligence Project Manager is responsible for overseeing the planning, design, and implementation of BI solutions within an organization; they can expect to have promising career prospects as organizations increasingly adopt data-driven decision-making and seek to leverage the value of their data assets.