Business Intelligence Is All About Decision Making With A Data Driven Approach

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BI and Analytics Business Intelligence is all about decision making with a data driven approach. It is a broader term and a super set containing tools, architectures, technologies and techniques that leverage insights from data (various problems or business processes) for analysis, querying, reporting and performance improvement. It is based on measuring or analyzing the historical data and past performance for driving insight and answers to questions like “What occurred?”, “How frequently is occurred?” and “Its impact?”. It includes processes and techniques for data collection, data analysis, data sharing, and reporting using dashboards, illustrative reports and interactive visualizations that laymen understand, all in the service better data driven decision making. Whereas, Analytics is a subset of BI, a step ahead in the evolution of Business intelligence. It about getting answers to further questions like “Why did it occur”, “When and what will it occur next (in future)”, “What can be the best option to solution”. Analytics contains tools and techniques to detect patterns, predict future occurrences or events and prescribe the most optimal solution. It is about the cleaning, processing and analyzing data to detect problems and optimal solutions from trends, patterns and relationships eventually leading to better data driven decision making. Moreover, Business intelligence tools facilitates visualization to results of analytics to drive easily understandable insights.
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