The rapid-fire growth and accessibility of big data means that the business intelligence analyst job description can appear as a variety of titles across industries and departments, but the field is in a period of rapid-fire development. Consider that between 2012 and 2014, the average wage for the data scientist rose an astounding 16 percent, compared to just the 2 percent average increase overall for wages1. In early 2015, the Federal Bureau of Labor Statistics reported there is little doubt that "the recent 'big data' trend has sparked demand for data scientists in all areas, from health care to retail2.”
In December 2016, The McKinsey Global Institute stated in their report: The Age of Analytics, Competing in a Data-Driven World, that by 2024, the U.S. economy could be short as many as 250,000 data scientists3. With your Master’s in Business Intelligence and Data Analytics, you can command top salary in a number of analyst positions in the field of your choice.
The Skills Gap in the Business Intelligence Career
According to DiscoverDataScience.org, Minnesota houses several of the largest U.S. companies who frequently advertise a need for data scientists. Minnesota is the home of major industry leaders such as Target, General Mills, Best Buy, Ameriprise Financial, the Mayo Clinic, and UnitedHealth Group.
Part of the challenge in filling positions is that business intelligence roles demand a set of strong skills that are taught independently in different programs. For instance, it may be in the marketing program that professionals learn strong presentation and communication skills, but computer science graduates learn how to pull knowledge, while statisticians specialize in analyzing numbers. The use of big data across industries really demands professionals to step up and blend these skills. With equal focus given to business intelligence, big data analytics, and presentation, the online MS BIDA degree prepares you for excellence in your future roles.
Careers and Salaries of the Business Intelligence Analyst Job Descriptions
Universities and employers of data scientists in Minnesota have helped to push the state to number 12 in CompTIA’s list of states with a high percentage of their total workforce being in the tech sector.
The duel application of intelligence and analytics, combined with real-world coursework and real-time data, powers this program and your level of experience for your future career. As the roles for business intelligence and data analytics expand, you’ll see numerous career titles with slight variances to their job description are available to those with a Master’s in Business Intelligence and Data Analytics.
- Management Analyst4
Management analysts, also consultants, work within an organization to improve efficiencies, looking for ways to reduce cost and increase revenue to make it more profitable. They develop solutions or alternative practices that may involve new systems, procedures or organizational changes. They earn an average income of $87,660 and have a 11% job-growth rate.
- Senior Business Intelligence Analyst5
Senior business analysts act as the lead in complex projects where multiple teams, departments, budgets and systems must be considered. They’ll own enterprise analysis and lead the business analyst team at an expert level. They can act as consultants for internal stakeholders and develop new business domains and on average, earn $103,595.
- Computer and Information Research Scientists Data Scientist6
Computer and Information Research Scientists Data Scientists prepare big data, implementing data models and developing databases to support the business solutions. They’ll interpret results from multiple sources using simple data aggregation via statistical analysis to complex data mining. They’ll also design, develop and implement the most valuable business solutions for the organization while earning a median income of $126,830 with estimated job growth of 15%.
- Financial Analyst7
Financial Analysts study the economic and business landscape to evaluate current and historical financial data to recommend individual investments and portfolios. They’ll determine a company’s value by examine its financial statements and meeting with executives to gain insight into the company’s prospects. On average, they earn $83,660 and expect 5% job growth.