For your business to thrive, you need to know what’s working, what’s not, and how to improve. That much is obvious. But figuring out how to go about it? That’s the tricky part.

 Since the time matters and the future-confirmation diagnostic stage which empowers quality business choices with information, data, mind and heart will lead the association on the track of progress.

BI is also about accessing and exploring your organization’s data. And, again, the ultimate goals are to better understand how the business is doing, make better-informed decisions that improve performance, and create new strategic opportunities for growth. But on the whole, BI is more concerned with the what’s and the how’s than the whys.

 BA is a catch-all expression for approaches and technologies that we can use to access and explore company’s data, with a view to drawing out new, useful insights to improve business planning and boost future performance. Typically, this involves using statistical analysis and predictive modelling to establish trends, figuring out why things are happening, and making an educated guess about how things will pan out in the future.

First, outline organizational goals and objectives. Then, you and your teams gather all the requirements needed to determine exactly what to measure in order to get the most relevant insights from all your data. Don’t feel limited by disparate data sources. A great BI solution can access any and all of your data, wherever it is and even have built-in data connectors.

The next step is to create a high-level design of your BI solution based on the most meaningful KPIs you and your teams selected. Your BI system will link your overarching business goals down to the relevant operational data, the detailed row data that helps you understand where your core measures are coming from, so you can see exactly how your KPIs relate to your business goals.

BI lets you apply chosen metrics to potentially huge, unstructured datasets, and covers querying, data mining, online analytical processing (OLAP), and reporting as well as business performance monitoring, predictive and prescriptive analytics, In other words, both BI and BA are tackling the same problems but if you’re working with masses of raw data, you want extensive control over how you use that data, and you want to draw out your own interpretations and conclusions from the numbers, the tools and techniques you use will likely fall under BI as well as in  BA.  Key Performance Indicator as: “…a high-level measure of system output, traffic or other usages, simplified for gathering and review on a weekly, monthly or quarterly basis. KPIs are often combined with cost measures (e.g., cost per transaction or cost per user) to build key system operating metrics.

One way to look at this is that BI tells you what happened, or is happening right now in your business – it describes the situation to you. Not only that, a good BI platform describes this to you in real time in as much granular, the forensic detail you need. So, BI deals with historical data leading right up to the present, and what you do with that information is up to you. Ideally, you’ll learn from past mistakes, build on past Successes, and feed this into your decision-making going forward, replicating what works and changing what doesn’t. But fundamentally, your expertise and judgment are crucial. BA primarily predicts what will happen in the future. It combines advanced statistical analysis and predictive modelling to give you an idea of what to expect so that you can anticipate developments or make changes now to improve outcomes. Both approaches are valuable, just in different ways. It’s important to know whether you are more in need of descriptive analysis, predictive analysis, or both before you invest in a platform.

BA is a catch-all expression for approaches and technologies that we can use to access and explore company’s data, with a view to drawing out new, useful insights to improve business planning and boost future performance. Typically, this involves using statistical analysis and predictive modelling to establish trends, figuring out why things are happening, and making an educated guess about how things will pan out in the future.

The Term Business Analytics / Business Intelligence / Decision Support System (DSS) / ADSS Advanced Decision Support System has come into the foreground in the last decade or so. The proliferation of the internet and information technology and growth of Smart Phone and it’s user have made Business analytics very relevant in the current Business Competitive age. Business Analytics is a field which combines data, Digital Marketing, information technology, statistical analysis, quantitative methods and computer-based models into one. This all are combined to provide decision makers all the possible scenarios to make a well thought and researched decision. The computer-based model ensures that decision-makers are able to see the performance of decision under various scenarios. Business analytics has a wide range of application from customer relationship management, financial management, and marketing, supply chain management, human resource management, pricing and even in sports through team game strategies.