Business intelligence vs big data
Business Intelligence, in simple terms, is the collection of systems, software, and products that
can import large data streams and use them to generate meaningful information that points
toward the specific use case or scenario. Big data is the most buzzing word in the business. Big
Data is changing our day-to-day business life. Everybody thinks that Big Data is nothing but a
massive amount of data. But in reality, it’s not just a massive amount of data; it is also about the
structure of the data, processing the data to deliver added value to the organization.
Business Intelligence vs Big Data Comparison Table
Given below is the comparison table of Business Intelligence vs Big Data:
Comparison of Objectives Business Intelligence Big Data
The purpose of Business The primary purpose of Big Data
Intelligence is to help the is to capture, process, and
Purpose business to make better analyse the data, both
decisions. Business Intelligence structured and unstructured, to
helps deliver accurate reports improve customer outcomes.
by extracting information
directly from the data source.
Operation systems, ERP
Hadoop, Spark, R Server, hive,
EcoSystem / Components databases, Data Warehouse,
HDFS, etc.
Dashboard, etc.
Below is the list of tools used in
Below is the list of tools used for Big Data. These tools or
business intelligence. frameworks store a large
These tools enable businesses amount of data and process
to collate, analyze and visualize them to get insights from data
data to make better business to make good decisions for the
decisions and develop good business.
strategic plans. • Hadoop
• Tableau • Spark
Tools • Qlik Sense • Hive
• Online analytical • Polybase
processing (OLAP) • Presto
• Sisense • Cassandra
• Data Warehousing • Plotly
• Digital Dashboards and • Cloudera
Data Mining • Storm etc
• Microsoft Power BI
• Google Analytics etc
Below are the six features of
Business Intelligence
Location intelligence, Executive Big data can be described by
Characteristics/ Properties Dashboards, “what if” analysis, volume, Variety, Variability,
Interactive reports, Metadata Velocity, and Veracity.
layer, and Ranking reports.
Below is the list of benefits of
Below is the list of benefits of Big Data:
Business Intelligence: • Better Decision making.
• It helps in making better • Fraud detection.
business decisions. • Storage, mining, and
• Faster and more analysis of data.
accurate reporting and • Market prediction
Benefits
analysis. &and forecasting.
• Improved data quality. • Improves the service.
• Reduced costs. • Helps in implementing
• Increase revenues. the new strategies.
• Improved operational • Keep up with customer
efficiency etc. trends.
• Cost savings.
• Better sales insights,
which help in increasing
revenues etc.
The Banking Sector,
Social Media, Healthcare,
Entertainment, Social Media,
Applied Fields Gaming Industry, Food Industry,
Healthcare, Retail, Wholesale,
etc.
etc.
Need of Big data Analytics-
The importance of big data does not revolve around how much data a company has but how a
company utilizes the collected data. Every company uses data in its own way; the more efficiently
a company uses its data, the more potential it has to grow. The company can take data from any
source and analyze it to find answers which will enable:
1. Cost Savings:
Some tools of Big Data like Hadoop and Cloud-Based Analytics can
bring cost advantages to business when large amounts of data are to be stored and these
tools also help in identifying more efficient ways of doing business.
2. Time Reductions:
The high speed of tools like Hadoop and in-memory analytics can
easily identify new sources of data which helps businesses analyzing data immediately
and make quick decisions based on the learning.
3. Understand the market conditions:
By analyzing big data you can get a better understanding of current market conditions. For example, by
analyzing customers’ purchasing behaviors, a company can find out the products that are sold the most
and produce products according to this trend. By this, it can get ahead of its competitors.
4. Control online reputation:
Big data tools can do sentiment analysis. Therefore, you can get feedback about who is saying what
about your company. If you want to monitor and improve the online presence of your business, then, big
data tools can help in all this.
5. Using Big Data Analytics to Boost Customer Acquisition and Retention
The customer is the most important asset any business depends on. There is no single
business that can claim success without first having to establish a solid customer base.
However, even with a customer base, a business cannot afford to disregard the high
competition it faces. If a business is slow to learn what customers are looking for, then
it is very easy to begin offering poor quality products. In the end, loss of clientele will
result, and this creates an adverse overall effect on business success. The use of big data
allows businesses to observe various customer related patterns and trends. Observing
customer behavior is important to trigger loyalty.
6. Using Big Data Analytics to Solve Advertisers Problem and Offer Marketing
Insights
7. Developing and marketing new products and services.