Business intelligence uses scientific methods to obtain information from data sources to support decision-making, whereas data science is an interdisciplinary field that focuses on extracting information from large datasets with complex structures to derive insights and make predictions.
- Business intelligence is a set of tools that provide organizations with key information and analysis to improve decision-making.
- Data science can be used for forecasting, optimization, fraud detection, predictive modeling, and streamlining processes.
- Organizations implementing these technologies have found them helpful in developing innovative solutions, better customer experiences, and increased revenue generation opportunities.
- Challenges in employing business intelligence and data science include the lack of sufficient data, lack of infrastructure, and competition with other companies.
With the worldwide growth of technology, the importance of business analytics is growing. Businesses are turning to data science and analytical tools that allow them to create dashboards, conduct analyses, and take action on insights gleaned from their data.