• Home
  • Archive
  • Tools
  • Contact Us

The Customize Windows

Technology Journal

  • Cloud Computing
  • Computer
  • Digital Photography
  • Windows 7
  • Archive
  • Cloud Computing
  • Virtualization
  • Computer and Internet
  • Digital Photography
  • Android
  • Sysadmin
  • Electronics
  • Big Data
  • Virtualization
  • Downloads
  • Web Development
  • Apple
  • Android
Advertisement
You are here: Home » How Predictive Analytics Differ From Business Analytics?

By Abhishek Ghosh August 24, 2021 5:39 pm Updated on December 3, 2021

How Predictive Analytics Differ From Business Analytics?

Advertisement

Predictive analytics uses historical data to predict future events, including in the areas of finance, meteorology, security, business, insurance, logistics, mobility and marketing. In general, historical data is used by predictive analytics to create a mathematical model that captures important trends. This predictive model is then applied to current data to predict what will happen next or to suggest actions that can achieve optimal results. Predictive analytics has received a lot of attention in recent years as there have been great advances in assistive technologies, especially in the areas of big data and machine learning.

Business analytics tools can be used to collect and analyze large amounts of data in companies to subsequently take further precautions to optimize business processes. The terms business analytics and advanced analytics are keywords that should stand for improved or extended business analytics. It is said that the improved forms would place a stronger focus on the forecast of future developments.

Table of Contents

Advertisement

---

  • 1 Introduction
  • 2 Subset of Business intelligence
  • 3 Differences
  • 4 Conclusion

Listen to the audio of this article :

Abhishek Ghosh 15 · How Predictive Analytics Differ From Business Analytics

 

Predictive analytics is a Subset of Business intelligence (BI)

 

Predictive analytics is a subset of business intelligence (BI) and Business Analytics (BA). BI and BA are often used interchangeably, although there are differences in methodology. In principle, business analytics represents a more advanced evolutionary stage of BI.

However, business intelligence is often used as a generic term for all forms of data analysis in the company.

 

The Differences are in the Questions they Answer

 

The difference between business intelligence and business analytics from one view is through the questions they answer. Business intelligence tends to focus on descriptive analytics.

On the other hand, business intelligence (BI) does also prioritizes descriptive analytics (that provides a summary of historical and present data). But, business intelligence (BI) answers the questions WHAT and HOW. It answers questions about what happened (what happened when?), the quantity, frequency or causes of an event. Tools for this are, for example, reporting (KPIs, metrics), automated monitoring (alarm when thresholds are exceeded or exceeded), dashboards, ad hoc requests or OLAP (Online Analytical Processing). OLAP, for example, works deductively, i.e. makes hypotheses and specifically queries information to confirm or reject the assumption.

That means you can replicate what works and change what does not work. Business analytics can focus on predictive analytics as well (which uses data mining, modelling and machine learning).

With Business Intelligence (BI), companies can answer questions about the current economic situation by systematically collecting, evaluating and presenting company data. BI deals mainly with the events in the past and their effects on the present. Predictive analytics forms a sub-discipline of business analytics. It starts where OLAP or reporting stops.

Instead of just analyzing the existing situation, predictive analytics uses data models to make predictions about possible events in the future.
How Predictive Analytics Differ From Business Analytics

Click here to view the full size image

 

Conclusion

 

Predictive analytics is required to build models using statistical and machine learning techniques to predict. It requires statistical techniques and tools like SAS, R, SPSS, Matlab. A business analyst role is more diverse. This requires knowledge of the software development process, knowledge of technology when you are working with software products from SAP, Oracle, etc. I guess that both terms have been used and abused of late. But generally predictive analytics is a subset of data science.

This Article Has Been Shared 925 Times!

Facebook Twitter Pinterest
Abhishek Ghosh

About Abhishek Ghosh

Abhishek Ghosh is a Businessman, Surgeon, Author and Blogger. You can keep touch with him on Twitter - @AbhishekCTRL.

Here’s what we’ve got for you which might like :

Articles Related to How Predictive Analytics Differ From Business Analytics?

  • How To Install Hue on Ubuntu 16.04

    Hue is Query Tool With GUI For Browsing, Querying, Visualizing Data & Developing Apps for Hadoop. Here is How To Install Hue on Ubuntu 16.04.

  • Getting Started with Microservices

    Here is a Brief Getting Started with Microservices Article in Plain English for the Readers Who are Not Sure What Microservices are.

  • Install Bokeh Python Visualization Library in Jupyter Notebooks

    With Bokeh You Can Create Interactive Tables and Charts. Here is How to Install Bokeh Python Visualization Library in Jupyter Notebooks.

  • Uses of Text Mining in Web Content Mining : Part IV

    In the third part of Uses of Text Mining in Web Content Mining, we informed that in this part we will discuss about the areas of application or tasks of text mining. Basically, the different methods should analyze texts and make the implicit information too explicit. Then form relations from the information in different texts, […]

  • Machine Learning in Capital Markets : Part III

    This part is the continuation of part II. With the help of fundamental analysis, the value of a company is assessed taking various factors into account. The fundamental analysis approach follows the assumption that the company in question has an economic value to which the associated share price adjusts in the long term. The value […]

Additionally, performing a search on this website can help you. Also, we have YouTube Videos.

Take The Conversation Further ...

We'd love to know your thoughts on this article.
Meet the Author over on Twitter to join the conversation right now!

If you want to Advertise on our Article or want a Sponsored Article, you are invited to Contact us.

Contact Us

Subscribe To Our Free Newsletter

Get new posts by email:

Please Confirm the Subscription When Approval Email Will Arrive in Your Email Inbox as Second Step.

Search this website…

 

Popular Articles

Our Homepage is best place to find popular articles!

Here Are Some Good to Read Articles :

  • Cloud Computing Service Models
  • What is Cloud Computing?
  • Cloud Computing and Social Networks in Mobile Space
  • ARM Processor Architecture
  • What Camera Mode to Choose
  • Indispensable MySQL queries for custom fields in WordPress
  • Windows 7 Speech Recognition Scripting Related Tutorials

Social Networks

  • Pinterest (22.1K Followers)
  • Twitter (5.8k Followers)
  • Facebook (5.7k Followers)
  • LinkedIn (3.7k Followers)
  • YouTube (1.3k Followers)
  • GitHub (Repository)
  • GitHub (Gists)
Looking to publish sponsored article on our website?

Contact us

Recent Posts

  • Ways To Make Sure Your Online Course Outshine Others July 3, 2022
  • Will Smart Factories Become the New Assembly Line? July 2, 2022
  • The Cost of Doing Business as a Handyman July 1, 2022
  • Samsung Galaxy S22 Ultra: Long Term Review June 30, 2022
  • How to Make the Most of Your S Pen (S22 Ultra) June 29, 2022

About This Article

Cite this article as: Abhishek Ghosh, "How Predictive Analytics Differ From Business Analytics?," in The Customize Windows, August 24, 2021, July 3, 2022, https://thecustomizewindows.com/2021/08/how-predictive-analytics-differ-from-business-analytics/.

Source:The Customize Windows, JiMA.in

This website uses cookies. If you do not want to allow us to use cookies and/or non-personalized Ads, kindly clear browser cookies after closing this webpage.

Read Privacy Policy.

PC users can consult Corrine Chorney for Security.

Want to know more about us? Read Notability and Mentions & Our Setup.

Copyright © 2022 - The Customize Windows | dESIGNed by The Customize Windows

Copyright  · Privacy Policy  · Advertising Policy  · Terms of Service  · Refund Policy