Currently, this business move is not complete without the knowledge and incorporation of technology as a tool that enhances, expands, and significantly impacts financial decisions.
Right now, it’s no longer enough to have administrative or commercial knowledge. The demands are greater, and therefore, specialization, updating, and innovation are sought in executive positions.
And these specializations go hand in hand with omnipresent technology that allows organizations to make decisions, take risks, and seize opportunities with greater precision, always aiming to win. With that promise, undoubtedly, training and understanding technology in business could be reason enough to study a master’s degree in Business Intelligence or, as we like to call it in Spanish: Inteligencia de Negocios.
What is Business Intelligence?
Business intelligence is the process of translating and transforming data into information and this information into knowledge. The discipline seeks to identify, from data, what organizations can do better, and to develop solutions to achieve it. Business intelligence is aimed at facilitating the decision-making process and ensuring that these decisions are made based on data. This builds a more optimal and continuously improving organization that gains a competitive position against its competitors.
Increasingly, companies are using business intelligence systems because they save time, money, and build a more efficient organizational structure in which information plays a central role in strategic decisions.
10 reasons to study Business Intelligence
1. Organizations are moving towards business intelligence
In 2020, Forbes magazine reported that 94% of companies considered data analysis important for the growth and digital transformation of their organizations. Meanwhile, 65% indicated that they would increase their investment in data analysis for the same period. That is, companies do not want to lose money or time that could cost them their existence in the business ecosystem due to a poor or non-existent data policy and management.
The prediction and intelligent and professional management of data allows anticipating trends and making more accurate decisions for the future of the organization.
Even today, billions are lost due to poor data management, which is why companies consider this a business priority and are making large investments in hiring experts and acquiring tools that make them more competitive and provide new and innovative business opportunities.
2. Greater opportunity to work in a large corporation
Business intelligence is within reach of all organizations. Large and small.
However, it is large organizations and corporations that have been making the biggest investments to create multidisciplinary teams that manage the massive amount of data generated by their clients. Technology giants, retail, finance, and media are at the forefront.
Therefore, if you have training in Business Intelligence, you will have more opportunities to be hired for the most lucrative and in-demand positions in your area.
3. Enormous growth potential
Business firms and consultancies estimate the global business intelligence market at 26 billion dollars, with new positions, commercial environments, tools, training, and sectors joining this new era of data analysis. Therefore, job and innovation opportunities are incalculable in this field, which requires experts to lead such projects, manage business intelligence tools, process data, and create visualizations that help identify patterns, opportunities, and risks.
4. Leadership roles
Data analysis teams in organizations are generally multidisciplinary: designers, engineers, administrators, statisticians, and even linguists. Whoever leads them must share a knowledge of the sector and also an understanding of the importance of data for decision-making, as well as practical knowledge in data analysis and management. That is why a Business Intelligence expert is the ideal profile to lead the numerical transformation of organizations.
5. Opportunity to change careers
A master’s degree in Business Intelligence may help you change or redirect your career because many of the skills you learn in a professional business intelligence course are at a postgraduate level and can be learned at any point in your professional life.
6. Your value in the job market will grow exponentially
You have already read about the amount of money invested in numerical transformations and innovations. Therefore, whoever has these competencies will see their profile revalued in the job market. These competencies, along with the diplomas that validate them, will make you a desired candidate for positions that require an expert in data analysis and manipulation to leverage business opportunities.
7. Continuous training, updating, and qualification
Business Intelligence, along with Big Data, is one of the most innovative and young fields whose development is just becoming visible. New tools, techniques, and methodologies emerge annually, as do novel ways of applying them. For this reason, they demand permanent and updated training. If you like to learn, with this career you will be doing so your whole life, and you will also be able to choose the area in which you wish to consider yourself an expert.
8. Lucrative salary scale
Salaries vary depending on the country, but in all of them, it is an attractive remuneration. In Mexico, data science experts, professionals with master’s degrees in Business Intelligence and Big Data, earn an average salary of $20,000 Mexican pesos per month. In Colombia, Business Intelligence specialists have salaries of $3,200,000 Colombian pesos per month. The profiles of engineers, programmers, and designers with BI specialization are among the most lucrative and in-demand, especially due to the scarcity of professionals.
In general, the salary of data analysts in Latin America starts from $700 monthly for junior positions.
9. Opportunity to work and specialize in a wide range of BI
As we have already mentioned, Business Intelligence work is in demand even in areas such as medicine. Extensive sectors such as military, retail, pharmaceutical, educational, and even cultural and environmental are impacted by this new way of doing things: based on big data. Thus, the opportunities to work and specialize are broad. There will be no problems in choosing the one that most relates to your interests.
10. Presents great opportunities for autonomous work (Freelancer)
Data analysis and business intelligence represent a great opportunity to work as a consultant in remote work mode and as a freelancer. Since it is a job based on information technology, a good connection, good computer equipment, and the necessary virtual tools are sufficient to work from anywhere. So your aspirations as a digital nomad will be achievable.
Study a master’s degree in business intelligence and grow professionally
If you have come this far, you have surely already made the decision to study and increase your knowledge of Big Data and Business Intelligence, undoubtedly one of the most demanded, best-paid technology and business professions with a burgeoning future.
It’s your moment! Start studying the Master’s in Big Data and Business Intelligence at UNiversidad ISEP today.