There is a clear overlap that exists between business intelligence and data analytics, and this is evident by the fact that the two terms are used interchangeably. When asked, most industry experts will group the two terms together, but for those that are serious about turning data into actionable insights, it is important to differentiate them.
Even though the vast majority of enterprise organizations deploy one right next to the other, the two processes are different, and one thing is for sure – you can’t successfully practice one without the other. In an attempt to gain a clearer focus, let’s break each one down.
Business intelligence is the use of data to help make business decisions. BI as it’s commonly referred to, is a broad umbrella term for the use of data in a predictive environment. Business intelligence encompasses analytics, acting as the non-technical sister term used to
What is success? There are many definitions, but there’s one thing all the greats agree on: Success only comes by persevering despite failure.
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2. “It is better to fail in originality than to succeed in imitation.”
3. “The road to success and the road to failure are almost exactly the same.”
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1. What is business intelligence software?
Business intelligence (BI) software helps organizations to analyze data from various sources to generate insights, which helps leadership with better decision-making. It collects the data from internal and external sources, runs queries to analyze the data, and then presents it within interactive dashboards and other forms of data visualization. BI software can analyze various types of data such as customer data, finance data, production data, human resource data, and contact data.
2. The benefits of BI software
- Accurate and fast decision making: Unlike the traditional way of getting key metric reports manually from the IT department, BI software provides real-time information from one centralized source. It allows management to make fact-based and real-time decisions to maintain a competitive advantage.
- Better visualization of data: BI tools allow users to convert complex data into easily understandable data visuals such as charts, graphs, infographics, and animations.
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