In a world where data analysis and company management are in constant evolution, it is difficult to avoid terms such as “business intelligence” and “big data”.
It is indispensable to understand the difference between the two to better grasp the value they can add to your company.
Business Intelligence: definition
Business Intelligence comprises a set of tools, practices, and techniques to collect data from internal or external sources.
This data, once analyzed, is stocked in a data warehouse and is treated in different databases. The objective is to simplify access to information.
The treated data will allow identifying optimization paths to improve a company’s performance. In fact, thanks to the Business Intelligence tools, it is possible to create dashboards, reports, and visualization tools that will favor decision support.
To sum up, Business Intelligence is a technology that serves the company.
You mustn’t confuse it with the data visualization definition, which signifies optimizing the data arrangement through enhanced and attractive visuals.
Knowing everything about Big Data
Big Data represents a set of large volumes of data that cannot be treated with classic databases, and that have strong marketing and business potential. Companies are more and more confronted with it, especially since the rise of electronic business which pushes them to continually find powerful tools to successfully exploit them.
The “4 V’s” define Big Data and have to be optimized:
Velocity: represents the generation and data processing speed
Volume: the quantity of data to process
Variety: what type of data to collect? (texts, statistics, images…)
Value: what data is most important?
This considerable data comes from all over the internet, sent messages, shares videos, posted photos, published texts, online purchased articles, etc.
BI and Big Data: what evolutions to come?
There certainly is a difference between Business Intelligence and Big Data, but it doesn’t mean that these two are the complete opposites. Indeed, they complete each other.
In fact, with the constant (and fast) evolution of data processing, it is certain that “classic” Business Intelligence databases will be substituted in the coming years by other ways to manage large sets of data in a short time… Therefore, taking into account Big Data.
We will then need powerful data visualization tools to follow this rapid evolution and fulfill the companies’ needs considering that data volumes to display will increase and become larger.
18 February 2019