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In Business, What’s the Differences Between Intelligence and Analysis?

In Business, What’s the Differences Between Intelligence and Analysis?

Business Intelligence, Business Analysis, and Technology in Business

There’s a big difference between running a smart business and making smart business decisions, although one could say that one contributes to the other. More growing Arizona businesses than ever before are looking to their data to create better opportunities and make smarter decisions. This MyTek blog will take a dive into what the differences are between business intelligence and business analysis, the role of technology in business, and how they can contribute to your organization's success.

Arizona Small Business IT Data Storage Needs

Before we take the plunge, we want to inform you that in order to best understand the two terms, you’ll need to have data collection platforms in place that allow you to analyze data. If your organization doesn’t store data properly, it becomes difficult to analyze it. In Arizona small business IT needs to include a plan to have it stored in a single place where it can be read from, making it much more feasible to take advantage of.

Arizona Business Technology Critical to Growth
The biggest difference between business intelligence and business analysis goes back to the roots of language. Business intelligence is a noun, whereas business analysis is a verb. Business intelligence is a system put into place to collect and analyze data, while business analysis is the actual act of doing the analyzing. Both of these purposes require significant amounts of data to work as intended, even if they both work in different ways.  Arizona business technology that supports both safe, secure storage of data and the ability to analyze it is critical to business growth.  As a matter of fact...

77% of Small Business Owners Believe the Future Success of their Business is DEPENDENT ON TECHNOLOGY

Using Technology in Business Provides Valuable Intelligence
A business intelligence strategy is built for the purpose of analyzing the business in its current form. In this case, the more you know about your business, the more effectively you can make decisions about the future of your organization. When you hire a business intelligence professional, their job is to analyze the data to find answers to your most pressing business needs. Your organization uses the information found during these processes to improve your operations, whether it’s through changing up the way things are done or by implementing new solutions. Basically, BI’s value is in providing enough information about your business’ operations to create data-driven decisions that drive growth.

Business Analysis
Business analysis consists of enabling the changes that need to be done by finding and resolving gaps in the way your organization manages itself, be it in production or solution implementation. Business analysis means that your organization takes the information that a your business technology intelligence system has provided to create solutions for your business’ woes. Sometimes they can be used to predict changes in the market or determine the best audience for a particular good or service.

Technology in Business Creates Data-Driven Decisions

87% of businesses fail to execute their growth strategies each year.

This increase in organizational use of BI and BA make it clear that more Arizona businesses than ever before are taking advantage of their data in exciting new ways. Through the power of technology in business, BI helps businesses create strategies to hone in their operations and create opportunity for improvement, while BA can help you either implement new solutions or stay on track toward your goals.

MyTek can help your business get started. To learn more, reach out to us at 623-312-2440.  If you are interested in learning more about managing your data effectively to grow your business, go HERE to learn more.

 

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Friday, October 19, 2018

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