Business intelligence vs business analytics


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  • Business intelligence vs business analytics

    2. 2. Agenda• Definition BI vs. BA• Deep Dive – BI Vs. BA• Intelligence Vs. Analytics• Building Strategies
    3. 3. BI Vs. BADifference between „Business Intelligence‟and „Business Analytics‟ andnot many in the industry understand that.Monitoring and tracking metrics/KPIs in the form of reports/dashboardsis „Business Intelligence‟, but making meaningful sense of thesemetrics, co-relating them with other factors that influencethem, understanding the trends and using statistical algorithms to predictoutcomes is where the bang for the buck is…and that is „BusinessAnalytics‟By -
    4. 4. Intelligence vs. AnalyticsTraditional BI• Standard reports and dashboards• Ad hoc reports – Current performance• Query Drill down• Cube analysis – Slice and dice• AlertsVs.Business Analytics• Statistical Analysis• Forecasting• Predictive modeling• Optimization
    5. 5. Building Strategies - ExploreIdentify the pain point and define problem scope• Performing an analytics readiness assessment of the current stateof your organization--including technology, business, and data• Identification and optimization of the true drivers of financialperformance and cost efficiencies
    6. 6. Building Strategies - Currents systemsUnderstand currents systems in place and various data points.• Data collection• Data overlap• Type of problems with data• Any transformation needed• Typical data volume• Limitation due to data problem
    7. 7. Building Strategies - RoadmapCreate implementation roadmap and develop analytics.• Architecture diagrams – Current, Future and intermediate phases• Logical• Heat Maps – Coverage of data in Red/Yellow/Green• Data flow diagrams – facts, masters, volumes• Metadata Management• ETL frame work• Security Architecture• Data Quality and Governance• Test Strategy• Developing the Reporting Strategy /Global Reporting Design• Reporting Implementation
    8. 8. Building Strategies - CategorizationCategorized the problem identified in to Operational ,Tactical or Strategic• Operational - This analytics type tends to assist in “business as usual”situations where basic corporate metrics are reported and visualized.» Reporting of the “here and now” metrics• Tactical - This analytics view is usually longer term and focuses more onanalytics to assist management in tackling problems, often includingfairly simple predictive models based on past historical performance.» Even driven Analytics» Monitoring / Web analytics» Ad Hoc Analytics• Strategic - This type business analytics can play a vital role in helping acompany make dramatic decisions affecting the strategic direction of theorganization» Comparative analytic» Predictive analytics
    9. 9. Building Strategies - Prioritize MetricsIdentify and prioritize metrics to be developed in each category.• Identify optimization opportunities• Categories and types of business analytics
    10. 10. Building Strategies - ReadinessDevelop a plan for IT readiness, Business readiness, Technology readinessData readiness• Rough timeline• Cost estimates• Data services needed• Software needed• Training needed• Resources– Statistician– Database programmer– Programmer/application developer– Business Analyst– Project manager– Product manager– Trainer
    11. 11. Building Strategies - BenchmarkEstablish a benchmark and quantify benefits.• Return on Investment• Revenue• Profitability• Cash Flow• Productivity• Long-term Planning• Other metrics specific to your organization
    12. 12. Building Strategies - Monitor• Monitor and improve performance.
    13. 13. Resources and Bibliography• SAS–• Smartdatacollective–• Data Informed–•–• Cogentdataanalytics–
    14. 14. QUESTIONS?