To help narrow down the issue I would suggest testing the current workflow you are using by using the sf_custs.dbf tutorial data which is located at C:\ArcGIS\Business Analyst\US_2018\Datasets\Tutorial. If this is successful then this point the issue more towards your current input table. If this test fails then the issue is not input data specific and there area couple of things to look at. Let me know what happens and I can provide some additional trouble shooting steps moving forward.
I found my error source. I was trying to run the profiles in ArcMap, not the BA version of ArcMap. Once I realized that I was in the wrong instance of ArcMap I switched over to BA and the situation is now resolved. I still find it odd that in ArcMap the module is available but apparently non-functional.
Glad to hear you were able to resolve this. For most of Business Analyst Desktop from 8.x to 10.4 using one of the default starting map documents was required (mainly having BDS layers in the table of contents). At 10.4.1 the product team added start up scripting that did allow one to do many Business Analyst functions like running reports and appending data in a blank map document and adding a layer.
That said there are some tools that still do require having BDS layers in the table of contents. When in doubt simply add the 2018 Business Analyst - Demographic (BDS).lyr to the map.
