The Difference Between Business Intelligence & Business Analytics

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The Difference Between Business Intelligence
Business Analytics
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• In the broadest sense of the word, analytics
  applies to all activities involving
  problem-solving using technology, and is
  typically divided into four categories along a
  continuum, comprised of descriptive analytics,
  diagnostic analytics, predictive analytics and
  prescriptive analytics.
• Lets take a closer look at business
  intelligence
• Sitting within the descriptive phase of the
  analytics continuum, business intelligence is
  where most organizations begin an analytics
  program, and takes advantage of software and
  services to help transform data into actionable
  intelligence. In turn, this intelligence enables
  organizations to devise strategic plans and make
  tactical business decisions.

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• While some business owners may use both BI and
  analytics data, most professions distinguish
  between the two.
• BI when used for businesses
• Using structured data from traditional enterprise
  platforms, BI gives insight into past financial
  transactions, or past actions in areas like
  operations and the supply chain. Helping to
  provide visibility into those areas and business
  tasks, is where the true value of business
  intelligence lies.
• BI tools are much more intuitive and
  user-friendly nowadays, with many being automated.

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• How BI can be a gateway to business analytics
• With limited capabilities, experts say that
  business intelligence alone is not helping to
  drive new business opportunities and growth, and
  that many more organizations are choosing to
  combine BI tools with analytics in order to
  answer their increasingly complex questions.
• Experts also say that advanced analytics are a
  capability most companies would like to have, but
  few have access to the appropriate technology.
  For example, a business might want to begin by
  studying their sales data, and then want to take
  it a step further and organize the data somehow,
  perhaps by state or product.

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• Then, theyll want to look at their most frequent
  customers for the year and what attributes they
  share, before trying to determine which ones will
  be their most frequent customers the following
  year. Getting more complex as the data goes
  along, no longer are business owners merely
  adding things up and presenting them in different
  dimensions, but are now trying to project them
  forward using predictive analytics something
  that BI alone simply cant handle.

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• The future of business intelligence
• Advanced analytics still requires significant
  data from data professionals, but the extent of
  their involvement is very much dependent on each
  specific business case. Many companies buy
  off-the-shelf BI products along with commercial
  analytic products, but they still employ their
  own, independent data pros to build the machine
  learning and AI capabilities they need.

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• That said, as companies demand more from their BI
  platforms and other analytic tools, the market
  for solutions is changing, and at a fast pace.
  Bringing in more and better data signals, is
  leading to the production of reports that are a
  lot more accurate, and a lot more insightful, and
  the distinctions between BI and more advanced
  analytics that were traditionally present, are
  becoming increasingly blurred.
• While technology companies tend to be at the
  higher end of the spectrum when it comes to
  adopting advanced analytics capabilities, there
  is ample room for businesses of all types to take
  advantage of it, particularly with so many
  third-party analytical companies vying for trade.

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• Intelliprise commits to empower organizations
  with cutting edge solutions. Intelliprise LLC is
  based in Indianapolis, IN and offers holistic
  Enterprise solutions, technologies, and systems
  integration for over 200 companies worldwide,
  ranging from startups to Fortune 1000 companies.
  Many of the largest companies outsource their
  business needs to Intelliprise, including leaders
  in retail, travel, e-commerce, education,
  hospitality, manufacturing, consumer goods,
  logistics, SCM, lifestyle, non-profits, and BFSI.