Business Intelligence (BI) and Data Analytics are related but distinct fields that involve the collection, analysis, and interpretation of data to support decision-making and strategic planning in organizations.
Business Intelligence (BI) is a set of technologies and practices used to gather, store, access, and analyse data to support business decision-making. BI systems provide historical, current, and predictive views of business operations, using data from various sources such as financial, sales, and customer data. It includes a range of tools such as reporting, data visualisation, and dashboards that allow businesses to gain insights from their data and make informed decisions.
Data Analytics, on the other hand, is the process of examining, cleaning, transforming, and modelling data to uncover meaningful patterns, trends, and insights. Data analytics can be applied to various fields such as finance, marketing, and operations, and it can be used to answer specific business questions or to identify new opportunities. Data analytics involves various techniques such as descriptive statistics, data mining, machine learning, and predictive modelling. BI and Data Analytics are crucial for organizations to make data-driven decisions and o gain a competitive advantage in the market. They are widely used in various fields such as finance, healthcare, retail, and manufacturing to gain insights and improve business performance.