Business Intelligence/ Business Analytics
Business Intelligence/ Business Analytics
Business intelligence (BI) and business analytics are often used interchangeably. While both fields are closely related and often depend on one another, there are key differences between them. Business intelligence refers to tools and strategies that help businesses access the data they need to run their day-to-day operations, such as predictive analytics, KPI dashboards, and data extraction tools. Business analytics focuses more on understanding the information that is available and how it can be used for decision making. This distinction allows businesses to determine when each tool may be best applied. Business intelligence and business analytics are two of the most important fields in business, but they’re often used interchangeably. Business intelligence focuses on collecting and analyzing data, while business analytics employs new computational technologies to generate predictive insights. This article offers an overview of each field, explains the differences between them, and explores how both can support decision-making processes and improve organizational performance.
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