12 Dec What is the difference between Business Intelligence (BI) and Analytics?
What is the difference between Business Intelligence (BI) and Analytics?
This is a question that will probably yield different responses depending on who you ask. I’ll see if I can do my best to define what these mean to me with a little more clarity and explanation than simply googling them will do.
Very broad term that to me means using the data available to your organisation to make factually based business decisions. This can take on a number of forms and methods but generally includes doing things such as developing Key Performance Indicators (KPIs), Trending Analysis, Predictive Modelling, dashboards, etc. There are also a few variations of the Business Intelligence Maturity Model which basically categories the extent to which an organisation leverages BI to make key decisions.
To me is about the same thing as BI. If I had to differentiate, I would say Business Analytics is the heart of BI that doesn’t include the actual business decision making, but the steps that lead up to the decision.
Credit: Chris Schrader