Both Business Intelligence (BI) and Business Analytics (BA) are known to play a crucial role in the seamless operation of every business under the sky. Making a choice between the two mainly depends on the solution that is in line with the aims, goals, and targets of a company. Read this blog to gain more clarity on these two divisions of business information technology and figure out the differences yourself!
Business intelligence analyses past and current data to drive business needs, whereas business analytics uses data from the past to drive customer needs and increase productivity. Business intelligence is primarily focused on reporting the analysed data, while Business Analytics concentrates on multiple tools that execute different operational applications. Thus, BI refers to the way of analysing the existing data and BA will have these reports acts as inputs for the analytics to process the information extracted in a sophisticated way of visualization.
BI employs statistical analysis, as well as predictive analysis and modelling to set the latest trends and identify the reasons for current outcomes or happenings. On the other hand, BA has had almost no control over the huge amounts of data that is retrieved, analysed, reported and published. The user interface dashboards of BI are streamlined to carry out the analysis and operations while for BA you need to implement your knowledge of software application.
Business Intelligence gives insights about the data, rather than making extra transformations or conversions to give such insights. Business Analytics, on the other end, involves problem-solving by enabling the technologies that can transform the raw form of data into a meaningful way to convey a solution in an easy method.
BI uses tools such as SAP Business Objects, QlikSense, TIBCO, PowerBI and more, likewise BA employs Word processing, Google docs, MS Visio, MS Office Tools. BI tools are mainly used to get insight from the previous financial information financial transactions and in the areas related to supply chain operations. BA tools can be applied to both unstructured and semi-structured data by converting them into some fruitful data before analysing it to get insights from that data.
BI is all about accessing the big data to run businesses effectively, whereas BA uses the latest technological methodologies to handle the big data, to alter businesses to make it more productive and operations effective.
Business intelligence is contained within the realm of business analytics. On the contrary, BA comprises of a whole range of applications including data warehousing, information management, enterprise applications and governance, as well as risk and security compliances.
Having a master’s degree in business intelligence and analytics can be a great move to not only grasp the idea of BI applications but also the measures taken by BA software. Apply to this combined post-graduate degree in business intelligence and analytics today!