Business Intelligence (BI) and Business Analytics (BA) as careers that have an important role in a company. Both of them are key as well as determining tactics for developing a business in the future.
At a glance, BI and BA do look the same both in terms of work or role. However, even though they are both engaged in data analytics, the two tasks are apparently very different, you know!
Then, what compares between BI and BA? Come on, read the following 5 differences between Business Intelligence and Business Analytics!
1. Definition of Business Intelligence and Business Analytics
BI and BA as career determinants of development and business strategy Business Intelligence is someone who works to collect and process the data of a company. The data is generally in the form of consumer reviews or marketing campaigns that have materialized.
In this case, BI works to analyze the company’s past data. Besides that, BI must understand all the current conditions so that he can make wise decisions to improve the company’s performance in the near future.
Then, Business Analytics as a person whose role is to create and forecast the next business activity. The task must be based on existing company data analytics.
BA worked on processing company data in the past and present period to define new developments for the next business. BA predicts how the company will be better in the future.
In short, BI is responsible for optimizing the current business strategy, and BA is responsible for predicting and changing new business tactics in the future.
2. Concentration of Business Intelligence and BA Tasks
Concentration of BI and BA tasks to provide company performance support. Not only are they different in analyzing current or future data, BI and BA apparently have several other jobs, you know! So, here are the differences between BI and BA in terms of work or assignments:
a. Business Intelligence
- Analyzing customer attitudes, market conditions, and current trends.
- Improve product and service quality.
- Create brand awareness and marketing improvement.
- Determine the decisions that need to be taken so that the company’s operations run well according to the idea.
- Calculating company or employee performance through KPI (Key Performance Indicator).
See also: Business Intelligence: Understanding and Professional Prospects in the Digital Age
b. Business Analytics
- Recognize the strengths and weaknesses of the company.
- Provide insight and new business development.
- Reading market conditions and business opportunities in the future to minimize company risk.
- Improve the business system that has been realized.
3. Types of BI and BA
Several types of BI and BA as data analytical tools BI and BA as a set of enterprise data analytical tools consist of several types, namely:
a. Business Intelligence
1) Enterprise Reporting
This type of BI’s role is to create reports regarding static data and share them with several people.
2) Cube Analysis
This type of BI is responsible for preparing multidimensional OLTP analytics.
3) Ad Hoc Query and Analysis
This type of BI has the role of providing access to users so they can perform queries and extract information from the database.
4) Statistical Analysis and Data Mining
This type of BI has a role to perform predictive analysis.
5) Delivery Reports and Alerts
This type of BI’s role is to send the complete report.
b. Business Analytics
1) Descriptive Analytics
Prescriptive analysis as data that contains business information that has been realized. This analysis is useful for getting a description of what happened to the company in the past and the current period.
Descriptive analytics helps companies identify strengths, weaknesses, and provides insight into consumer behavior. As for some of the data served in prescriptive analysis, namely the amount of marketing, stock of goods, average production, and so on.
2) Diagnostic Analytics
Diagnostic analysis has a role to find out the triggers of an incident in the company. This analytical data is related to “what” happened in the past period, “how” to handle it, and “why” it is happening again in the current period.
3) Predictive Analytics
Predictive analytics in the BA world has a high level of difficulty because it is related to something that is not visible. Predictive analytics predicts all opportunities that will occur in the future so as to minimize company risk.
In addition, predictive analytics plays a role in determining the design of the right marketing and marketing tactics.
4) Prescriptive Analytics
Almost similar to the first, prescriptive analytics play a role in providing accurate references to the company’s ways. This method is in the form of repeated experiments to study partners among various treatments and their results.
4. Tools used when working
BI and BA career sympathizer tools When doing their jobs, BI and BA have each the same tools according to the job description listed in the company. The following are tools from BI and BA careers:
a. Business Intelligence
- Microsoft Power BI
- Tableau
- Dundas
- QlikView
- FineReport
- Domo
b. Business Analytics - Wrikes
- Trello
- Balsamiq
- Microsoft Visio
- Xplenty
- Rational RequisitePro
- Abacus
5. Must Have Ability
The skills that are necessary for BI and BA A person who has a career in BI and BA is supposed to have good data analytical skills. However, here are some detailed skills that need to be in BI and BA:
a. Business Intelligence
- Mastery of data processing program.
- Good problem solving power.
- Have knowledge of statistics.
- Productive and on time.
b. Business Analytics - Mastery of data processing programs and survey software.
- SWOT analytical power.
- Innovative and innovative when reading current trends.
- Deep research skills related to market and marketing.
- Good financial plan.
b. Business Analytics
- Mastery of data processing programs and survey software.
- SWOT analytical power.
- Innovative and innovative when reading current trends.
- Deep research skills related to market and marketing.
- Good financial plan.
- Know First 5 Components of Business Intelligence!
- The Most Used Business Intelligence Tools
- Business Intelligence Definition, Benefits and Examples