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Using business intelligence and analytics effectively is the crucial difference between companies that succeed and companies that fail in the modern environment. It will ultimately help them spot new business opportunities, cut costs, or identify inefficient processes that need reengineering. The power of knowledge.
While some experts try to underline that BA focuses, also, on predictivemodeling and advanced statistics to evaluate what will happen in the future, BI is more focused on the present moment of data, making the decision based on current insights. What Is Business Intelligence And Analytics? BI and BA Use-Case Scenarios?
Predictivemodeling efforts rely on dataset profiles , whether consisting of summary statistics or descriptive charts. Results become the basis for understanding the solution space (or, ‘the realm of the possible’) for a given modeling task. But what about the costs involved with doing so, “properly”?
This approach typically focuses on descriptiveanalytics based on historical data to answer the question “What happened?” or What is happening? The primary difference between traditional and modern BI lies in flexibility and accessibility. And that is exactly what is happening!
These benefits provide a 360-degree feedback loop. Embedded analytics has proven to be a must-have for staying in compliance. In this new era, users expect to reap the benefits of analytics in every application that they touch. Users are coming to expect sophisticated analytics at little or no cost.
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