As things stand today the word analytics has sort of achieved cult status as a buzzword and it is fashionable to use the word. But to tell the truth we are only being fair when we say that the thin line differentiating Business Analytics and Business Intelligence often blurs out.
According to many leading experts in the field the way data is manipulated and type analysis is performed is the primarily demarcates the two. This may be better explained by saying that through Business Intelligence we are able to complete a complete data management cycle and gain a better understanding of the current state we are in relatively. This increases the operational efficiency of Big Businesses.
On the other hand Business Analytics analyses the various trends and opportunities that are likely to happen in the future like forecasts and predictions. A keyword that serves to make a considerable difference is the word-models. There is no scope for modeling in business intelligence while Business Analytics is very much concerned with it.
However it is to be highlighted that such capability sets are in no way mutually exclusive as a lot of things overlap. This is the reason behind our previous comment that the thin line differentiating them is often times blurred.
All businesses need to have some sort of Business Intelligence in order to survive in today’s crowded business scenario while capabilities of advanced analytics will give them increased advantages over competitors.
Both BI and business analytics make a difference to how a business to run and gain the edge through innovation. It is evident that for performing predictive analysis we would need both.
We deal with vast amounts of data on a day to day basis today and data warehouses are becoming increasingly common. They would fall under the purview of Big Data which is often looked as a more generic concept than Business Intelligence and Business Analytics.
Another differentiating factor is that it is typical for Business Analytics to assume that the data at hand is organized and suitably cleansed before we are able to do anything with it while it is more common for BI to deal with the data quality and ETLs so that the process of Business Analytics can take place.
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