Data, data, data. It’s everywhere. Today, more and more organizations have implemented analytical and intelligence solutions to improve decision making and streamline operations. Business Intelligence and Big Data solutions provide organizations with a better understanding of analytics with visualization options that make comprehending data and trends easy. Business Intelligence and Big Data are the future of business as we see the continued growth of data-driven organizations.
So, you may be asking yourself what exactly is Business Intelligence and Big Data? Can they be used together? Why should I be considering these solutions?
What is Business Intelligence
In simple terms, Business Intelligence (BI) is the collection of systems, software, and products, which can import large data streams and use them to generate actionable information for specific use-cases and scenarios. The purpose of BI is to empower organizations with accurate and actionable metrics allowing them to improve their decision making.
What is Big Data
Big Data is more than just big amounts of data. Big Data is massive amounts of data, but it also encompasses the structure, processing, and purpose of that data. The term Big Data is applied to datasets whose size or type is beyond the ability of traditional relational databases. The purpose of Big Data is to capture, process, and analyze both structured and unstructured data to improve organizational outcomes.
BI and Big Data are similar in the sense that they both perform many of the same functions to help organizations make smart, revenue-boosting decisions. They are both deliver value in the form of descriptive, predictive, and prescriptive analysis/reporting.
However, there are a few key differentiators between the two. One of the most important differences between the two is the scale. Big Data can perform all the same functions as BI but can do so faster and at a much larger scale. Another key difference is that BI solutions generally handles structured data while Big Data professionals excel with large volumes of unstructured data.
While you don’t need to leverage Big Data to establish an adequate BI system, but Big Data can dramatically enhance capabilities on a large scale. Big Data is not something that will overshadow BI, instead Big Data is positioned to make BI more useful and valuable.
In the past, decisions were made based on historical data. By the time that decision was fully implemented, the discovered trend may have already passed. The addition of Big Data enables things to happen at lightning speed. Combining BI and Big Data drastically reduces time to answer as they allow information to be worked with before it is optimized, rationalized, or re-rationalized. Organizations can now utilize non-transactional data to make long-term strategic business decisions.
Business Intelligence and Big Data with Motivity Labs
Motivity Labs provides data-centric solutions that empower organizations to improve their decision-making process based on intelligent, real-time data. Our team develops data-driven strategies that supply insights and identify trends in critical business areas. Motivity Labs experts are extensively trained on cutting-edge technology, tools, and platforms to provide our clients with long-term, high-value solutions.
Motivity Labs will help your organization:
- Collect and Access Valuable Information
- Simplify the Decision-Making Process
- Use Machine Learning Capabilities to Predict Buying Behaviors
- Improve Customer Service
- Analyze Trends and Predict Outcomes
- Improve Operations & Efficiency