As the volume of data collected by businesses continues to increase at a staggering pace, there is a growing demand for skilled data professionals. Business intelligence analysts, in particular, have become one of the most sought after roles in recent years, and as a result can command much higher salaries than previously.
There’s a great amount of value to be gained by hiring experienced professionals in this area. However, employing a business intelligence analyst isn’t always necessary for businesses to make the most of BI reporting tools.
Reducing bottlenecks in reporting
Traditionally, complex BI reporting tools have required the time and expertise of skilled IT professionals, in order to manipulate data and produce reports. Companies may have needed to bring someone into the business in order to fulfill this role, further increasing the investment needed, on top of already expensive reporting platforms.
Having one business intelligence analyst or a small team of people in charge of producing reports might seem like a sensible decision in terms of accountability and consistency of reporting.
However, creating reports for the whole business can be a heavy workload. This can cause bottlenecks to form around these key individuals, slowing down the reporting process and diminishing the ability to quickly act upon new business insights.
Self-service BI reporting tools democratise the use of analytics to end users across the business, reducing the dependency on certain individuals. The tools are designed to be easy-to-use so that business users can go in and create their own reports and analyses, with minimal technical expertise.
Of course, business intelligence analysts may still be important in order to create more complex reports. But giving line of business users the ability to create basic reports on their own means they can circumvent the IT department and access the information they need more quickly.
Overcoming the BI analyst skills shortage
With the colossal growth in the amount of data businesses are collecting, the demand for skilled individuals who can analyse this data is rising – so much so that demand is actually outstripping the supply of suitable candidates for business intelligence analyst positions.
With the limited supply of skilled BI analyst professionals, salaries are being pushed up in the industry. Forbes listed the role of business intelligence analyst as one of the top 10 best paid jobs in science, technology, engineering and mathematics (STEM) in 2015. The median pay for a BI analyst was found to be $56,700.
Facing this skills shortage, a business has two options. One is to try to bring in the right people, something that may prove difficult and costly. The other is to equip existing employees with the right tools, giving them the ability to produce their own BI reports and analyses.
Self-service BI reporting tools can therefore help businesses to overcome the skills shortage in the market – and can often prove to be a more cost-effective solution to hiring new starters.
Exploiting internal business knowledge
If you want to gain greater insight into how well your business is performing, the best people to ask are the people who know your business processes inside out. The only problem is that these people are not always technically proficient enough to conduct their own analyses using complex traditional BI tools.
Providing easy-to-use BI reporting tools to experienced professionals within your business is a good approach to bridging this gap, combining analytical insights with business knowledge.
If you do decide to create a business intelligence analyst position, it often makes sense to hire someone from within, as they will already have a firm grasp on internal business processes.
Self-Service Business Intelligence
With self-service Business Intelligence from Matillion, you don’t need to be an experienced analyst or an IT whizz to create your own reports and analyses.
Our easy-to-use BI reporting tools allow anyone in the business to access the key insights they need to make faster, better decisions.
See what Matillion BI can do for your business. Schedule a free, personalised demonstration with one of our Business Intelligence Consultants today.
If you’d like to find out more about implementing self-service BI in your organisation, download our free eBook below.