Sangeeta May 27, 2014 1 Comment
Why did it happen?
Will it happen again?
What insight does it offer?
What happens if changes are made?
These are questions typically asked during the process of Business Analytics. Business Analytics uses a pre-established method to find patterns and relationships, to gain insights, to forecast future outcomes and conduct experiments to test decisions.
When did it happen?
Who or what factors influenced the same?
How many outcomes are possible?
This forms the essence of Business Intelligence practice, although it is an umbrella term that extends to applications and technologies for data sourcing, storage, online analytical processing (OLAP)and forecasting to respond to a decision support system (DSS) that supports query and reporting
A typical scenario that illustrates the difference:
Let’s say I work for the State Department of Disaster Management, where my work includes collecting data during a natural disaster like cyclone to improve response time and disaster preparedness.
Summing up, at the end of the day, the terms Business Analytics and Business Intelligence are complementary and often used interchangeably, depending upon how an organisation implements it.
As Timo Elliot puts it,
… nobody important cares what this stuff is called. If you’re in charge of a project, what matters is working out the best way to leverage the information opportunity in your organization, and putting in place appropriate technology to meet that business need — and you can call that process whatever you like: it won’t make any difference…
Bottom line: So when you come across a job posting in the domain of Business Analytics / Business Intelligence, do not get fazed. Check out the company profile, experience requirements, technologies in use and draw your own inferences on what they are looking at. Good luck!