Technology has brought many possibilities to the corporate environment. One of the most important is the possibility of using business data to optimize processes. In this sense, technologies such as Business Intelligence and Business Analytics are essential for managers to make smarter decisions in line with internal demands.
However, for the use of these technologies to work, the company must understand the differences between Business Intelligence and Business Analytics and how these solutions can be integrated into the brand's day-to-day operations. This way, workflows and investments can be improved in a more intelligent and effective way. In other words, the business will make better use of all existing human resources.
If you want to know more about the differences between Business Intelligence and Business Analytics and how these technologies can be applied in your workplace, check out the following post!
What is Business Intelligence?
Also known as BI, Business Intelligence is a data analysis technique that helps professionals in their management processes, especially those involving the strategic planning of each area. It is mainly geared towards collecting and analyzing internal business information. In other words, it makes it possible to add value to a business's data and thus help to improve it.
In other words, Business Intelligence is a way of analyzing a company's internal data to find opportunities for improvement. It can be applied during planning routines for new processes or during actions that seek to review and optimize internal processes. In this way, the company is able to create flows of continuous improvement in its sectors.
What is Business Analytics?
Business Analytics is a way of analyzing corporate data taking into account more factors than BI. In this case, the company will also be oriented towards identifying points such as:
- understand the evolution of corporate indicators over a period;
- analyze possible market trends, consumer behavior and other points that could cause problems for the brand;
- make decisions driven by comprehensive data on the state of the brand.
In other words, Business Analytics takes a broader view of the company and its position in relation to competitors, when compared to BI. However, like Business Intelligence, it maintains a more rigid scope than data analysis processes driven by IT trends, such as Big Data. It is therefore possible to identify how decisions in each area affect the company's success and what can be done to make it more competitive in the medium and long term.
What are the main differences between BI and Business Analytics?
At first glance, Business Intelligence and Business Analytics may seem like solutions capable of solving similar problems in a company's day-to-day operations. Although there is some proximity between the two technological tools, it is important to understand their differences. This way, the company can make good decisions about its future and apply its resources to measures that are more relevant to its daily demands.
Business Intelligence uses data analysis techniques that take into account the company's history and its current state. These records are used to assess what led the company to its current situation and what can be done to improve its position in the future. Business Analytics, on the other hand, builds on the foundations of BI to predict trends. These records help the company to prepare and stay ahead of the competition when significant changes occur in the market.
In other words, both technologies can be used to optimize the company and improve its decision-making and planning processes. In this way, the business can remain competitive regardless of what happens in its area of activity.
Why invest in these ways of analyzing data?
Investing in technologies such as Business Intelligence and Business Analytics can bring great gains to a company. Check out the main ones below and see how they make your brand more competitive.
Reducing costs
BI allows companies to better understand how their financial resources are being used and what can be done to optimize the use of funds. It also helps to identify problems and points of waste. Together with the possibility of tracking down areas with chronic shortcomings, this makes Business Intelligence an important tool for those who want to optimize their spending in the medium and long term.
Reduction of errors
Business Intelligence allows companies to assess the areas with the highest error rates and chronic problems. It also makes it easier to identify the impact of the management team's decisions on business results. This makes it possible to make optimizations, training and other improvements that minimize existing errors.
Better ability to prepare for market trends
Business Analytics helps companies understand trends and assess their future more accurately. As a result, it will be much easier for the company to make quality investments. On the other hand, internal projects will be carried out taking more factors into account, which is essential for the brand to always have a portfolio of products and services in line with the demands of its sector.
Optimization of decisions related to improvements and investments
Decisions made with the support of data analysis are much more robust and reliable. As managers will have a more comprehensive view of the state of the company, they will be able to assess the paths to be taken with greater quality. As a result, the company will always have more confidence in its planning.
Disruptive technologies, such as cloud computing and data analysis, have had a major impact on the corporate environment. With them, managers can optimize, make more flexible and integrate processes without running major risks. They are also able to make more robust decisions in line with the demands of their clients and business partners.
For this very reason, investment in technologies such as Business Intelligence and Business Analytics should be treated as strategic for any manager. By taking advantage of them properly, the brand will be able to prepare itself to deal with industry trends and stay ahead of the competition. So make sure you use these two solutions in your day-to-day work!
Do you want to know how to use Business Intelligence and Business Analytics in your company? Then talk to us!
Leave a comment
See also:
iT.eam Copyright 2024 - Todos os direitos reservados.
Acesse nossa Política de Segurança da Informação. | Acesse nossa Política de Privacidade da Informação. | Acesse nossa Política Antissuborno e Anticorrupção. | Canal de Ética
