Difference Between Data Science and Business Intelligence

While they have different uses, business intelligence (BI) and data science are both essential for making data-driven decisions. Data science is the study of finding patterns and forecasts through sophisticated analytics, machine learning, and algorithms. In contrast, the main function of business intelligence is to provide historical data so that companies can make well-informed operational decisions.

What is Data Science?

Data science is basically a field in which information and knowledge are extracted from the data by using various scientific methods, algorithms, and processes. It can thus be defined as a combination of various mathematical tools, algorithms, statistics, and machine learning techniques which are thus used to find the hidden patterns and insights from the data which help in the decision-making process. Data science deals with both structured as well as unstructured data. It is related to both data mining and big data. Data science involves studying the historic trends and thus using its conclusions to redefine present trends and also predict future trends. Technologies

What is Business Intelligence?

Business intelligence(BI) is a set of technologies, applications, and processes that are used by enterprises for business data analysis. It is used for the conversion of raw data into meaningful information which is thus used for business decision-making and profitable actions. It deals with the analysis of structured and sometimes unstructured data which paves the way for new and profitable business opportunities. It supports decision-making based on facts rather than assumption-based decision-making. Thus it has a direct impact on the business decisions of an enterprise. Business intelligence tools enhance the chances of an enterprise to enter a new market as well as help in studying the impact of marketing efforts.

Below is a table of differences between Data Science and Business Intelligence:

Conclusion

While the goal of both business intelligence and data science is to extract value from data, their methods are different. company intelligence bases present company strategy on the analysis of historical data, whereas data science employs sophisticated algorithms and predictive models to predict future trends.