Question

describes the difference between business intelligence and business analytics, the challenges of achieving/cultivating analytic leadership and culture in practice.

Answer 1

Business Intelligence is utilizing the data to take business decisions by collecting, monitoring and reporting data for interpretation. It mainly helps to filter out the relevant data out of the vast existing data to find out the trends and patterns of the past and present so that it can be used to make better decisions for current operations.

It improves the overall operational efficiency and fosters growth and productivity in an organization. Also, it provides rich data visualization like real-time dashboards through which people can generate forecasting reports with relevant and actionable data.

The tasks and outcomes of business intelligence may also be applied by financial analysts, research analysts, and computer systems analysts, depending on the industry and area within an organization.

Business Analytics is about applying and utilizing business intelligence by studying and interpreting data and using the outcomes to predict future patterns based on current data.

Business analytics is mostly used to strategize, recognize sales and market opportunities, improve relationships with customers, better indicate potential risks and decrease threats based on the analysis of why things happened in the past and if something will occur again. Firms which want to improve or change their current operations and make better decisions for the future, use business analytics widely.

Business Intelligence is about	Business Analytics is about
What happened? What was the trend?	Will it occur again? Where is the trend going? What will happen next?

On one hand where business intelligence focuses on current situations, and on the other where business analytics determines future situations, combining the two can improve the way an organization reaches current and future business solutions.

Some of the challenges of achieving/cultivating analytic leadership and culture in practice.

Poor Collaboration Among Key Stakeholders
Cross department teamwork is very important to evaluate, champion and implement analytics driven initiatives and culture in a firm. It is only when these groups are in sync, people can outline their key objectives for IT personnel, who in turn can act as expert advisors who explain what analytics innovations are available to support the business.

Succumbing to the Allure of the Latest and Greatest Technology
Today, every firm is revolving around the hottest buzzwords in IT like artificial intelligence, machine learning and predictive analytics, all of them coming from the realm of analytics. The issue is with the budget commitments and unclear goals on how to best use this information and due to which most companies risk spending large sums and seeing small returns.