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Business Analytics VS Business Intelligence
With Big Data having become the new oil for business development, the technologies of Business Analytics & Business Intelligence have received a lot of prominence. Over the years, the outbreak of Big Data revolution has completely changed the global business outlook. Both Business Analytics & Business Intelligence are the two most crucial aspects of Data Science that are helping the enterprises in making the most out of their Big Data reserves to scale & grow.
As every organization these days has large reserves of Big Data, its stakeholders & managers are now being empowered by data driven insights to make smart business decisions. The use of Predictive Analytics in Data Science is also helping the business to predict the future market trends, customer needs, & risks based on which stakeholders are making more informed decisions.
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Understanding Business Intelligence vs. Business Analytics-
Business Intelligence deals about the events that are going around in your business & analyzes the events that are the root cause for each event. Business Intelligence enables Data Warehouse, Data Visualization & Executive Dashboards. It clearly analyzes each & every process of the business.
The process of business analytics deals with the things that are bound to happen in the business in the near future. It also analyzes that best solutions that can better handle the situation. Predictive Analysis is a part of Business Analytics strategy.
Business Analytics is categorized into four types. They are Descriptive analysis, Diagnostic analytics, Predictive analytics, and Prescriptive analytics.
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