Thought of sharing my reading findings on the difference of Business Intelligence and Business Analytics with you. This is a area which I was initially confused so anyone confused as me can read it and clarify the doubts.
Business intelligence (BI) is using data to make intelligent business decisions by monitoring, collecting and reporting data for visualizations.BI helps organizations filter through existing relevant data to identify trends and patterns in the past and present to make better decisions for current operations.
In many organizations, this process is the responsibility of business intelligence analysts who work with data scientists to analyze the gathered data, interpret data patterns and then communicate effectively to their organizations how to best implement these findings.
Business analytics (BA) is vital to utilizing business intelligence to its full potential by working to interpret data to predict future patterns based on current data. Business analytics is great for companies looking to improve or change their current operations and make better decisions for the future.BA includes data mining, statistical analysis, and predictive modeling that help make more informed decisions.
BI is descriptive and is about what is happening now and what happened in the past to get us to that state. Business Analytics is predictive and can tell you what's going to happen in the future. Further it can tell the business what it should be doing to create better outcomes.
Tools used for BI and BA -
- Microsoft Power BI
- Tableau
- SAP Business Intelligence
- Yellowfin BI
- QlikSense
- Sisense
- Oracle BI
- IBM Cognos Analytics
2020 Gartner Magic Quadrant for Analytics and Business Intelligence Platforms -
I am starting to love data. So will share my learnings with you.
