Business intelligence (BI) is here to help manage market data into useful information in determining a company’s business strategy.
Big companies such as Twitter, Netflix, Coca-Cola, Starbucks, and so on have implemented BI in their business development. Thus, the company’s business can grow rapidly.
Then, what is meant by business intelligence? What are the benefits and roles for the company’s business development? You can find the answer in this article. So, listen to the end, ok !
What is Business Intelligence
Business intelligence is a process of processing market data into a useful insight for companies in determining business development strategies .
The definition of business Water Transportation Email List intelligence can also refer to the technical infrastructure and procedures carried out by companies in collecting, storing and analyzing data into insights that are useful for business interests.
4 Differences between Business Intelligence and Business Analytics
Although both are related to the management and DW Leads management of company business data, business intelligence and business analytics are two different things.
You can see the difference between business intelligence and business analytics from the following aspects.
Purpose of Application
The application of business intelligence is aimed at running a business today and is suitable for large-scale companies.
Meanwhile, business analytics is useful for running a business in the future. The application of business analytics is suitable for all companies that want to plan business growth in the future.
Source and Purpose of Data Use
The data managed by BI is sourced from past and present business operations. The goal is to gain insight into the business strategy that will be implemented in the present.
Whereas in business analytics the data that is managed comes from business operations in the past. The goal is to get predictions for carrying out future business plans and increasing company productivity.