Now that you reviewed Part 1 and 2, you may be wondering about key difference between Business Intelligence and Analytics.
BI primarily focuses on transforming raw data into easily understandable insights, while Analytics focuses on using data to gain insights, predict future outcomes, and recommend actions.
2) Time Horizon.
BI often deals with historical data and provides a snapshot of the present, whereas Analytics involves predicting future trends and making recommendations.
3) Function.
BI is essential for monitoring ongoing operations and tracking key performance indicators, while Analytics aids in strategic decision-making and long-term planning. Both Business Intelligence and Analytics are crucial for modern businesses to remain competitive and agile in a data-driven world. They enable organizations to extract value from their data, optimize processes, and make well-informed decisions based on evidence rather than intuition alone.
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