Business Analytics and Business Intelligence

Business Analytics and Business Intelligence is a study about analyzing a business from the managerial of the company, the production and selling, and also solving each problem in a company. Business Analytics is very important for a business because this is the fundamental for a business to run. There are goals in analyzing a business, first of all to make sure the business run successfully, with developing a new development and evaluating every action in business, also analyzing a business helping managers make every decision with creating new innovations and solutions so the business will grow significantly and efficiently.

Business Analytics is a methodology and a concept that increase performance in business with analytical capabilities. There is a relation between analytical intelligence and performance. There is a study in proving the relation between those two aspects, this study is using 310 different companies form across the world, with inspecting and analyzing their supply chain performance with using a analytical intelligence to their business.

Using Business intelligence to transform data and actions in the organization, the study proved that Business analytics in the business helps in problem solving and developing new inventions by evaluating, creating summaries and reports so every decision will be more precise and efficient. So basically, a business intelligence does not tell business users what to do, so it helps with generating data into graphs and examine data into reports to help company to acknowledge their works and a company will be easier to maintain their supply chain performance. A business has many aspects to analyze, with using Business Intelligence (BI) it helps business to transform their data into business insights. By any mean, Business Intelligence and Business Analytics have a difference, where Business Intelligence is focusing on delivering an insight to un-technical person where it will be easier to understand by generating datas into a report, by highlighting the key points of the current situation. While in the other side, Business Analytics will have to collect data and measured by a data science professional so it will be more precise. Basically, both helps business in mining datas to use it for create precise predictive analytics for the business. Business Intelligence uses structured data mining from resources planning and from the past financial transactions and actions, experts stated that Business Intelligence helps business in providing business tasks and contractual reconciliation.

For the conclusion, Business intelligence is a gateway for Business Analytics, Business Analytics relatively more simple and easier to understand for managers, because the datas have been generated into reports with basic calculations to provide answers, and there is a limitation in the data so it will be less precise than other analytical methods. While other analytical methods are more precise and accurate in predicting and providing datas to help analyze business because they use more complicated calculations and take more time than BI. By any mean, Data Intelligence is blurring the line in analyzing business, because it could not answer complicated business cases, while advanced analytic method could determine decisions in solving complicated cases.

References:

https://www.cio.com/article/2448992/business-intelligence-vs-business-analytics-where-bi-fits-into-your-data-strategy.html

https://www.cio.com/article/2439504/business-intelligence-definition-and-solutions.html#1

Decision Support Systems, Volume 49, Issue 3, June 2010, Pages 318-327