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The Relationship between Data and Business Intelligence
Data Analytics and Business Intelligence are commonly misunderstood to be the same thing. However, people who are serious about making a career in data sciences should know the subtle difference between the two terms. Though all Data Analytics operations are performed in conjugation with Business Intelligence operations, both the processes are quite different from each other. Since the evolution of Machine Learning, Data and Business Intelligence has gained popularity amongst masses. Unlike in the past, when complex tasks like gauging the impact of a price change on a given product required you to run a linear regression on your data, the availability of tools like Excel, R or Tableau have helped a great deal. This is the reason why tableau training has become a great option for IT industry aspirants. According to PayScale, on an average, a Tableau Developer earns $75,394 per year, which is quite a decent package.
Data Analytics vs. Business Intelligence
As mentioned before, there is a small difference between Data Analytics (DA) and Business Intelligence (BI). Below is a comparative analysis that shows the relationship between the two processes:
Data Analytics is a science of data that deals with the process of putting up questions that need to be answered by BI. DA tools are used by organizations for forecasting what will happen in the future. The forecasts generated by DA are transformed by BI into common language that can be understood by all. With effective data analysis, the task of business analysis becomes convenient.
Advantages of Data Analytics
- Helpful in anticipating needs of the organization by capturing customer identifiers like cell phone, email, and address
- Reduces the chances of risks and frauds and provides security to physical, financial, and intellectual assets
- Provides competitive edge to companies by letting them know about the commodities that are hot in the market
Allows companies to react in real time and make the customer feel personally valued
- Improves the overall customer experience by finding out exactly what they need
Business intelligence is used for facilitating the decision-making process. It is also defined as a process that is performed by business analysts with the intention of learning from data they collected in a post-analysis phase.
Advantages of Business Analytics
- Provides actionable intelligence by offering access to data in legacy databases and fresh data from geolocation coordinates, click-streams, and apps
- Integrates information for the users
- Offers quick solutions to complex problems
- Sales personalization and cost savings
- Enables users to create visualizations through trends, forecasting and complex calculations
Tableau and Business Intelligence
Tableau is a fast-evolving Business Intelligence (BI) and data visualization tool that has changed the landscape of business intelligence. It is easy to learn and even simpler to deploy, and offers many benefits to the users. In the modern times, when data are visualized as a currency, tableau can be used to exploit data resources to the fullest. In case, you are looking to master data sciences, you should definitely start learning Tableau.
With a Tableau Online course, you can train your employees in Data and Business Intelligence, and much more. A Tableau Course can help you in:
- Building interactive visualizations for delivering business insights
- Leveraging business intelligence and enhancing the value of data
- Combining data gathered from different sources
- Creating Tableau maps for geographical data
- Utilizing dashboards for highlighting your discoveries
Importance of Tableau for Businesses
A study by IDC has revealed that the global business analytics market will grow from $37.7 billion in 2013 to $59.2 billion in 2018. This converts into a 9.4% compounded annual growth rate, which is quite a considerable rise when compared with other BI technologies. If you are looking to boost your business by employing Tableau, you should consider training your employees in this technology. By ensuring that they complete tableau certification, you can enhance their learning and use them for DA and BI.