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Core Skills like good communication skills (for effective communication with relevant stakeholders and absorb relevant information), problem solving skills and critical thinking skills.A typical business analytics methodology involves the following processes: Figure 5: Processes involved in business analytics Who is a Business Analyst and a Business Intelligence Expert?Ī business analyst generally monitors productivity of one or more internal departments within a corporation, measuring the work produced under current administrative systemĪ good business analyst needs to have any or all the below given skills: It incorporates sophisticated data, quantitative analysis, and mathematical approach to facilitate solutions for data driven issues. On the other hand, business analytics can be considered a subset of business intelligence. Info graphic given below shows different processes in modern business intelligence: Figure 4: Processes involved in business intelligence The core of business analytics lies in implementing predictive modeling and advanced statistics to evaluate potential happenings in the business.įigure below shows example of a business analytics dashboard with predictive analysis approach: Figure 3: Example of a Business Analytics Dashboard What do Business Intelligence and Business Analytics Involve ?īusiness Intelligence can be considered as an umbrella term covering all the processes and methods for collecting, storing, modelling, and analyzing data. Figure 2: Example of a business intelligence dashboardĭefining business analytics requires a foremost understanding of business intelligence since the former brings the best out of business intelligence through its predictive analytics approach to analyzing current data. Focus is given on collecting, monitoring, and interpreting data to decipher patterns and trends in the past and utilize these findings to improvise current business scenario.įigure below shows an example of how a business intelligence dashboard looks like with visualizations showing projected sales in the past 4 quarters.
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The DefinitionĪs its name suggests, business intelligence relies on effective utilization of data to take intelligence business decisions. This article tries its best to enlighten the readers with some of the most obvious and detailed differences between business intelligence and business analytics. This is where business intelligence and business analytics come into picture! Both provide methods and tools crucial for interpreting business data and deriving valuable insights to create effective actionable plans. Utilizing effective tools and technologies is the key to leverage this immense amount of data and convert it to meaningful information.
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The goal of a business intelligence tool is to convert information into actionable insights and help businesses make data-driven business decisions.įigure below shows example of a business intelligence tool with key insights and influencers: Figure 1: Example of Business Intelligence Tool Business Intelligence Vs. Schedule Demo What is Business Intelligenceīusiness intelligence refers to an umbrella term that covers all features for gathering, sorting, integrating, analyzing, and presenting business information.