In my previous job I had experience working with Business Intelligence tools such as SAP Business Objects and Microsoft OLAP tools to create dashboards and data warehouses based on Oracle ERP data. I was curious about the difference between Business intelligence and data analysis. Here is what I found and some example of each tool.
Please share your experience if you have worked with any of these tools.
Business Intelligence is the use of data to help make business decisions. BI tools helps organization to use data in a predictive way. For example calculate Sales forecast based on Sales data of previous years. As Business Intelligence encompasses analytics. BI often refers to the process that is undertaken by companies in order to learn from the data they collect, after they have analyzed it.
Example of BI Tools: Microsoft SharePoint BI, SAP Business Objects, Dundas BI, Stratum, ClicData, SAP Crystal Reports, Style Intelligence, Salesforce Analytics Cloud (Wave), Looker.
Analytics is a data science.Data Analytics is the process of asking questions. Like the exercise we are submitting every week! Analytics tools are deployed when a company wants to try and forecast what will happen in the future, whereas Business Intelligence tools help to transform those forecasts and predictive models into common language. Data Analytics should be thought of as the question-answering phase leading up to the decision-making phase in the overall scheme of Business Intelligence.
Example of DA tools in Business and Audit: Tableau Public, OpenRefine, RapidMiner, Google Fusion Tables, TeamMate (Audit Analytics tool) , Lavastorm, ACL, IDEA.