What Is Business Intelligence And Analytics

Business analytics software is used to explore and analyze historical and current data.

What is business intelligence and analytics. Business intelligence and analytics are data management solutions implemented in companies and enterprises to collect historical and present data while using statistics and software to analyze raw information and deliver insights for making better future decisions. Business intelligence is the process of surfacing and analyzing data in an organization to make informed business decisions. It utilizes statistical analysis data mining and quantitative analysis to identify past business trends.

Business analytics has generally been described as a more statistical-based field where data experts use quantitative tools to make predictions and develop future strategies for growth. Data Analytics is how you go about creating and gathering the information for users to get that data in the first place. Business Analytics Business analytics BA is vital to utilizing business intelligence to its full potential by working to interpret data to predict future patterns based on current data.

With todays technology its possible to analyze your data and get answers from it almost immediately an effort thats slower and less efficient with more traditional business intelligence solutions. Every day your business creates an overwhelming amount and variety of data. According to the data analytics company Tableau business intelligence emphasizes the what and the how so that organizations can continue whats working and change what isnt.

Business intelligence BI refers to the procedural and technical infrastructure that collects stores and analyzes the data produced by a companys activities. BI covers a broad spectrum of technologies and methods from the way that data is organized and analyzed all the way to how findings are reported. 1 For example while business intelligence might tell business leaders what their current customers look like business analytics might tell them what their future customers are doing.

Comprehensive BI systems allow a company to gather store access and analyze corporate data to aid in decision-making. Business analytics is great for companies looking to improve or change their current operations and make better decisions for the future. In order to make smarter decisions identify problems and be profitable you need methods and tools to turn your data into actionable insights.

Business Intelligence is how information is graphically displayed to show key information to the right person at the right time. The distinction between business intelligence and data analytics is simple. Business Intelligence BI BI has largely come to represent a set of technologies that support decision-making within enterprises focusing primarily on executives middle management and the analysts who support them.