Business Intelligence vs Data Science

Business Intelligence vs Data Science

To make things easier, we can see Data Science as the future whilst BI as the past and present.

Predictive analysis calculates the probability of results, events, and behaviors based on actual and historical data. Hence, a business executes this type of analysis to limit the risks while making decisions.

It is applied in different sectors and indeed can be used to predict things like: to individuate those clients who have higher chances to fail payments; to establish optimal prices; to calculate the risk and forecast the exit of illnesses; to manage the supply chain of medical instruments; to map viruses etc.

Predictive analysis can be extremely useful for the HR sector. One of their main responsibilities is working with people, which means collecting a lot of information about them. Therefore, Predictive analysis can help these professionals answer questions like: which employees have higher probability to resign? Which candidates fit best the company’s culture? Are the employees being productive?

On the other side, Prescriptive analysis aims at defining the best possible attack plan in response to the results of the predictive analysis. It’s relatively recent and it’s often classified as the last phase of Business Analytics.

In the last decades, computers and other devices have been acquiring high computing quality along with a constant production of data. Therefore, current businesses have all the interest in collecting and classifying these data, and the more diverse they are, the better it is in terms of future predictions.