Apache Hive provides a SQL-like interface to query and manipulate data stored in Hadoop, while Apache Pig provides a scripting language to define data flows and transformations. Hive is better suited for business intelligence analysis and ad-hoc queries through its familiar SQL interface, while Pig is more appropriate for data pipelines, iterative data processing, and research through its scripting capabilities. Both can perform similar functions but may differ in performance depending on the use case.