What are Data Analytics and BI Services? Data Analytics and BI (Business Intelligence) Services are used by businesses to help analyze data and provide intelligent, actionable insights that maximize operational efficiency, contribute to informed decision making, create a competitive advantage, and discover new revenue streams. The services do a needs analysis to determine the best solution, which could be data analytics and BI as a managed service or by selecting and deploying the necessary ...
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Data Analytics and BI (Business Intelligence) Services are used by businesses to help analyze data and provide intelligent, actionable insights that maximize operational efficiency, contribute to informed decision making, create a competitive advantage, and discover new revenue streams. The services do a needs analysis to determine the best solution, which could be data analytics and BI as a managed service or by selecting and deploying the necessary tools and technology to support a business’s data analytics and BI goals.
Difference between Data Analytics and BI
The terms data analytics and BI are often conflated but have certain differences. Machine Learning (ML) and AI-driven data analytics focus on understanding data relationships, patterns, and trends while providing predictive capabilities to forecast future results.BI encompasses data analytics and other reporting tools to drive decision-making based on past results using real-time and historical data. Business Intelligence is used to operate the business in the most effective manner, while data analytics is used to transform the business.
These providers help companies manage large and complex amounts of data, minimizing the need for in-house data science professionals and IT expertise. Data discovery is an important part of data analytic services, identifying business data that can originate from a variety of sources including ERP, CRM, Office Productivity, and Marketing Automation systems. BI services offer company insights in readily understandable formats.
The services and the tools they use support the following major categories of data analytics and business intelligence: finance, customer behavior and experience, sales, product, brand, supply chain, transportation and logistics, enterprise, and operations. Data analytics and BI services work with the major data analytics and BI platforms and tools such as MS Power BI, Tableau, Snowflake, Google Cloud, and Azure Synapse.
Data Analytics and BI Services will have most of the following features.
Consider the following when comparing Data Analytics and BI Services.
Service vs Installation: A business can employ data analytics and BI as a managed service or can use a service provider’s expertise to select and install these tools in the cloud or on-premises for in-house management. Obtaining a needs analysis from data analytics and BI services will help inform that decision.
Tool Set: Data analytics and BI services use a range of platforms and tools to satisfy their customer’s requirements. Some data analytics and BI services specialize in using or deploying specific tools such as MS Power BI or Tableau.
It is usually necessary to obtain a price quote from data analytics and BI service providers as businesses will have different requirements and varying scales of operation. For businesses that are using these services to deploy their own solution, an initial assessment begins at $1,000 and tool implementations begin at $10,000, not including the cost of the tool. Free trials are available.
These are some of the popular Data Analytics and BI Services.
