What are Business Intelligence and Analytics?
Business Intelligence (BI) is the set of practices and tools for displaying and exploring data for decision-making. Techniques and tools associated with BI include dashboards, scorecards, drilldown, and slicing and dicing data. Analytics practices take BI to a higher level.
Analytics is the practice of supporting decision-making through number crunching. Analytics supports processes such as customer segmentation, product mix analysis, budgeting, and operations improvements. Some analytic solutions focus on a single domain, rather than the broader domain of the data warehouse. Techniques and tools associated with analytics include data mining, statistical analysis, and regression modeling. Table 01.01 provides examples of BI and analytics.