What is Business Intelligence?
Business Intelligence (BI) refers to the process of leveraging software and tools to analyse data and use it to create actionable insights and processes that can be used to shape an organisation’s strategy and business investments. By analysing data and creating reports and summaries, business intelligence is the processing of complex and disparate data to create compelling and concise information and guidance on the current functionality of an organisation. BI takes into account trending market forecasting and uses it to make informed decisions designed to streamline a company’s efforts and resources.
Business Intelligence vs Business Analytics
Although very similar, BI is the process of analysing and viewing the current state of a company’s processes, business analytics is a term used for the analysis and data examination used to predict what is going to happen in the future and how best to navigate it.
Business Intelligence Tools and Software
Some of the most popular BI tools and software include:
- Oracle BI (OBIEE)
- Tibco Spotfire
- Clear Analytics
- Microsoft Power BI
- ZOHO Analytics
- SAP Business Intelligence
What kind of skills do you need to work in Business Intelligence?
Some of the desirable skills for a career in BI include a combination of technical and soft skills. The necessary hard skills for BI can usually be obtained in a bachelor’s or master’s degree. The soft skills for BI revolve around effective stakeholder management.
BI technical skills:
- Knowledge of Structured Query Language (SQL) programming
- Business analysis
- ETL Programming
BI soft skills:
- Good communication skills
- Problem solving
- Industry knowledge and business acumen
- Flexibility and adaptability
- Drive and focus
The Different Types of Business Intelligence Jobs:
- BI Developer
- Business Intelligence Consultant
- Business Intelligence and Data Analytics Specialist
- Director of Business Intelligence