The Best and Highest Paying Jobs to Apply for in Business Intelligence
One of the biggest buzz words to come out of the last decade in business is big data. Big data has been defined as “Extremely large data sets that may be analysed computationally to reveal patterns, trends, and associations, especially relating to human behaviour and interactions”. It has become one of the fastest evolving fields to be a part of and offers exciting opportunities to job seekers who are interested in analysing data to make projections and decisions for a company's success.
But, just what do business intelligence executives do? Their purpose is to use the data generated by the organisation to help managers and executives make better decisions based on accurate and effective interpretations of data. Using the data, they can help the company cut costs, identify new business opportunities, and spot inefficient business processes. If this is something that appeals to you, we have compiled a list of the highest paid executives in the BI field, what qualifications and experience you need and what you can expect in the role.
Highest Paid Roles in Business Intelligence
Below is a breakdown of what you can expect to earn on average in each role in BI. Please do keep in mind that the figures represent a calculated average and that the figures will differ based on level of experience as well as what state you are looking to work in.
What Qualifications Do You Need for a Career in Business Intelligence?
Unlike many careers, you cannot simply walk into a BI career. You will need to have earned a Degree, and even a Masters Degree in some cases, go through extensive training and build up your practical experience. Eighty-one percent of all data science and analytics job postings actually look for candidates with at least three years of prior work experience. Added to that, the higher paying roles do require post-graduate education, so if you are applying, it is best to keep that in mind.
The most common degree to have to become a Business Intelligence executive is as a Business Intelligence Analyst. However, you will be considered with any of the related fields such as business intelligence, computer science, information management, information technology, statistics, data science, business administration, economics and mathematics. You will also need to have practical experience with the relevant tools like SQL, Oracle and MySQL, as well as an in-depth knowledge of Microsoft applications, including Access, Excel, PowerPoint and SharePoint. Most employers also look for critical skill sets that include data mining, data analysis, data visualisation, dashboarding and querying.
What are the Responsibilities of Business Intelligence Executives?
BI, is an analytical discipline and as a technology-driven process, is made up of several related activities. The overall department can be broken down into four major categories:
- Data mining;
- Online analytical processing;
Each role requires different skill sets and holds different responsibilities within the department. Big data engineers, for example, turn large volumes of data into useable insights as well as retrieve, interpret, analyse, and report on business’s data. A data architect, on the other hand, designs the structure of complex data frameworks, and builds and maintains these databases. A data warehouse manager has full control over the full databases and the protection thereof. They are tasked with monitoring performance and usage metrics to evaluate data, analyse data load, and monitor job usage.
The Growth Trajectory in the Business Intelligence Department
The Business Intelligence field in general is a highly lucrative field. Once you land in a job and start increasing your experience, you can start building up your career to a high-earning top position. It is a highly dynamic career that will not only keep you busy and interested for a long time, but the required skills are the same between almost every single industry. This means that you can move between companies if you feel the need to make a change.
It is certainly one of the fields with some of the biggest growth potential. In fact, PwC has estimated that by the end of 2020, there will be at least 2.7 million job postings for specialists in data science. The U.S. Bureau of Labor Statistics (BLS) anticipates data-related occupations will grow by 12 percent by 2028, creating over 546,200 new jobs in the same time period. Increasingly, top companies are in need of qualified professionals to fill those emerging roles.
What you need to keep in mind is that the specialists are hard to find for companies, and are in high demand. This will mean that they will be paid more and that there will always be job opportunities for specialists. So, it could be worth your while to look into specialising to catapult your salary.
If the Business Intelligence field appeals to you, and you would like to find your next job in BI, one of the easiest ways of passively looking for a new job is to create a profile on Wanted. It is a platform that allows you to anonymously post your profile which only includes your skills, expertise and salary requirements. Interested companies will go through the profiles and determine which profile matches their requirements. So, if a company cannot afford you, they simply move on to the next candidate. If they can, and your skills are what they require, they can ask for an introduction, gain access to the rest of your profile and set up an interview. It is a great platform, especially for candidates who have a particular set of skills, to be matched with a company who is willing to pay them the right package for their expertise.