Simple Understanding on BI and BA:
BI is just to understand what has been done? What was the trend last year? Which part of the business was successful? What was the success rate and what was the success factor? All this is your historical data that lets you correct your business path and reset your business goals. The business intelligence lets you know where money is lost and where money is gained, where business need to spend money and where it needs to cut short. This can be done using a platforms like SAP BusinessObjects, Microstrategy, QlikView and IBM Cognos.
BA is analysis of every data that has been collected and forecast the future. It can answer the questions like, what is the future for the business. Which verticals in the business is going to be successful? What is going to be the new trend in the future? What can be done to cash in on the future business follow-ups? This will let you know where the market is moving towards, where profit can be made and where the investments has to be made to enact on the future of the market? Now a “Big Data Analysis” helps you get the desired output. The output may be in the form of a graph, a chart or in form of the detailed analysis and summary suggesting the future changes for the business to reach out to the market. Some of the tools available are Birst BI, Pentaho BA, SAP Business Analytics Suite and Tableau Big Data Analytics
How to know which suits your company? Why not ask the experts from Scopeweaver?
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S SAILESH KUMAR, BD Team, scopeweaver.com