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Analytics has changed the business world as we know & American Business Links can help you to be a part of this sweeping change or assist you furhter if you already have this initiative in place.

Analytics is an immense field. To be brief we know that analytics refers to the skills, technologies, applications and practices for continuous iterative exploration and investigation of data to gain insight and drive business planning. A new focus is moving BI forward. Not only does this new focus include reporting, dashboards and analysis for smarter business decisions, but also performance management to drive profitable growth and predictive analytics to optimize business outcomes. In short, it is forward-thinking BI.
What is the difference between this BI and those solutions that are currently being used today? What takes BI forward? The answer to those questions is the use of predictive analytics to extend the value that BI data currently brings your business operations.

When you extend BI, your company can:

  • Beat the competition.

  • Reinforce accuracy and confidence in decisions.

  • Enrich the data discovery experience.

So, in order for us to look at this in a concise and brief manner let’s take a quick look.

Analytics consists of two major areas: Business Intelligence and Advanced Analytics.

What is often overlooked is how the two differ based on the questions they answer:

Business Intelligence — traditionally focuses on using a consistent set of metrics to measure past performance and guide business planning. Business Intelligence consists of querying, reporting, OLAP (online analytical processing), and can answer questions including “what happened,” “how many,” and “how often.”

Advanced Analytics — goes beyond Business Intelligence by using sophisticated modeling techniques to predict future events or discover patterns which cannot be detected otherwise. Advanced Analytics can answer questions including “why is this happening,” “what if these trends continue,” “what will happen next” (prediction), “what is the best that can happen” (optimization).

Let’s take a closer look:
                                                   Advanced Analytics & Business Intelligence Comparison Table

As you can see, this is just the beginning of the comparison between the two. Want to learn more? Give us a Call and we would love to assist you further.