What is the difference between Business Analytics and Business Intelligence?
The process of Business Intelligence is consisting of technologies and strategies used by companies to analyze historical and current data of the company. Business Analytics is used to explore past business information through technologies and strategies for successful future business planning.
Some key differences between Business Intelligence and Business Analytics
- Past and current data is used in business intelligence.
- Mostly focused on reporting the analyzed data.
- Some part of business intelligence comes under business analytics.
- Statistical analysis, predictive modeling and predictive analysis are used to find the reasons behind what is happening and why is happening and to set new trends.
- Business intelligence does not transform data to give insights rather it gives information and details about the data itself.
- The data produced by business intelligence in the form of reports, dashboards or pivot tables is for other members of the company like analysts, executives or managers.
- Business intelligence is only used to access the big data.
- To run the business effectively companies use business intelligence.
- Used to improve customer experience and increase productivity by extracting insights from previous business operations or data.
- It contains data warehousing, business intelligence, information management, risk and security compliances, enterprise applications and governance.
- Business intelligence reports can be used as inputs in business analytics.
- Has no control over huge amounts of data to retrieve, analyze, report and publish the data.
- It can work with both unsaturated and semi-saturated data.
- Knowledge of software applications and tools is needed to work as a business analyst.
- Transforms and splits data into several parts to get meaningful insights.
- It is used to change the way of how a company operates for more productive and effective operations.
What are the choices for a career in Business Analytics?
There are many different opportunities available for a business analyst but you must acquire a master’s degree and certification to increase your chances of getting hired Click here to apply for Business Analytics Courses in Mumbai. Some of which are:
- Management Analyst/Consultant- is responsible to make sure that their company’s operations are running efficiently and what actions are needed to improve business.
- Data Analyst/Scientist- is responsible for the collection of data and analyzing it to influence the company’s decisions for good.
- Business Intelligence Analyst- is responsible to gather and analyze information to use for advantage against their competitors in the market.