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BI focuses on descriptive analytics, data collection, data storage, knowledge management, and data analysis to evaluate past business data and better understand currently known information. Whereas BI studies historical data to guide business decision-making, business analytics is about looking forward.
Data warehouses gained momentum back in the early 1990s as companies dealing with growing volumes of data were seeking ways to make analytics faster and more accessible. Onlineanalyticalprocessing (OLAP), which enabled users to quickly and easily view data along different dimensions, was coming of age.
Amazon Redshift is a recommended service for onlineanalyticalprocessing (OLAP) workloads such as cloud data warehouses, data marts, and other analytical data stores.
Onlineanalyticalprocessing (OLAP) database systems and artificial intelligence (AI) complement each other and can help enhance data analysis and decision-making when used in tandem. Next-generation cloud OLAP database engines are expected to bring significant advancements.
This post also discusses the art of the possible with newer innovations in AWS services around streaming, machinelearning (ML), data sharing, and serverless capabilities. This service is the core of this reference architecture on AWS and can address most analytical needs out of the box.
Migrating to Amazon Redshift offers organizations the potential for improved price-performance, enhanced data processing, faster query response times, and better integration with technologies such as machinelearning (ML) and artificial intelligence (AI).
Deriving business insights by identifying year-on-year sales growth is an example of an onlineanalyticalprocessing (OLAP) query. For example, the same dataset could be used to build machinelearning (ML) models to identify trends and predict sales. These types of queries are suited for a data warehouse.
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