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Tag: business intelligence

AI, Data Science, Machine Learning Terms You Need to Know in 2022!

Posted on by Imarticus Learning

In the present paradigm of technical knowledge, it is imperative to be aware of certain concepts to survive and thrive. Whether you are pursuing a career in artificial intelligence (AI), have a cursory interest in data analytics, or simply wish to broaden your horizons, here are some artificial intelligence, data science, and machine learning terms you need to know in 2021. Read on…

  1.     Natural language processing: 

Both humans and computational devices use their own modes of language to communicate and share ideas to the extent of imparting and debating on the information. The languages, however, are different in their basic forms and formats. Using natural language processing, or NLP, artificial intelligence can decipher many human languages to suit specific functions that may range from the academic study of linguistics to providing utility to hearing-impaired people.

  1.   Data warehouse: 

A data warehouse, as the name suggests, contains a large ensemble of data pertaining to businesses and learnings from past successes and failures to provide better services. One who is not entirely proficient in data architecture may yet take the advantage of data warehouses to gather business analytics courses and make far better decisions. This method allows one to find new ways to process old data and change future iterations of that data with his/her actions. 

Career In Data Analytics   Data journalism: 

This is a mode of journalism that is slowly gaining greater prominence and is proving its necessity in combating the ever-growing trend of fake news. In this form of news reporting, one focuses on proving his/her assertions through the collection and presentation of reliable data. This may be done through human and/or AI collection and calculations. Soon, we may be able to have a collated base of data obtained through AI learning. This will make it very hard for individuals and/or groups to spread misinformation.

  1.   Deep learning:

This uses artificial intelligence to construct structures that mimic the human neural network – starting from simple problems to finding layers of hidden information. Meanwhile, it makes errors and learns from them with the program often ending up with a different solution than what was expected by its programmers and set parameters. Using this process, we can identify and solve possibly any real-world problem. The degree of human supervision in this process can be ascertained at various levels of this process.

  1.   Cybersecurity: 

Both defenders and attackers of databases are getting smarter, escalating the never-ending battles between cybersecurity and hackers. Often, the strategies used by either group are similar to the point of being indistinguishable. Here, any large organization employs AI and/or deep learning to be one step ahead of the threats that plague them.

The above-mentioned terms are only the tip of the iceberg when it comes to talking about new technology-related topics. Hopefully, they have provided you with new avenues to look into as per your interests, or at least recapitulated some of the basic terminologies.

What is the Difference Between a Business Analyst and Business Intelligence?

Posted on by Imarticus Learning

When the business analysis markets are expected to hit the 20 billion mark and considering that business analytics actually makes the business five times faster, better informed and effective, it gets a little confusing when people mix up the terms “BA-Business Analytics” and “BI- Business Intelligence” and use them interchangeably when the two areas are really different.

Let us explore how we can define the two areas and what their differences really are.

A Brief Definition:

By definition BA means the technology and approach behind the data analysis where one can establish trends and gainfully cull insights into business data with the ultimate goal of boosting the planning, efficiency and productivity of a business’s future goals and performance.

It is a Why- approach to business needs. The Business Analyst depends on the use of the predictive models, specific data sets and statistical analysis to justify why a business decision needs to be taken based on predictive analysis of future performance parameters.

BI refers to the analysis of the same business data on a wider scale and with large volumes of unstructured data and focuses on the how and what- approach to business needs involving what and how you can use and mine raw data, the tools required for OLAP, querying, data management and reporting etc, to align and draw out the business performance goals and stimulators based on both prescriptive and predictive analysis.

You can learn all of these by doing a Business analyst course.

The Differences Table:

Here are some of the key differences explained below.

1. BI reports analyzed data as against BA which uses technology and tools to perform data operations.

2. BI uses current, past and historical data in comparison to BA where past data is used to gain foresight or extract insights. Both have the same goal of increasing productivity, efficiency and use data to achieve business results.

3. BI is the method or process whereas BA comprises of inputs from BI to arrive at the visualized and extracted information.

4. BI provides insights drawn from the data in use while BA is the process of working on the data and arriving at solutions for the use of Big Data in use.

5. BI appears to be a part of BA which effectively uses information management, data warehousing, business applications, security measures, and risk mitigation.

6. BI uses a combination of predictive and statistical analysis and modelling in comparison to BA which works on huge data volumes to analyze, retrieve, publish and make reports on it.

7. BI uses sets of structured data drawn from applications like the ERP or financial software applications while BA cleans and works with unstructured data while transforming the data into valuable meaningful data for BI.

8. BI normally is restricted to dashboards with a user-interface in comparison to BA which relies on a vast armoury of tools and software applications.

9. BI uses the same format and a sub-set of data for insights while BA works on the raw data to transform it into various databases to draw out trends and foresight.

10. BI roles like executives, analysts, and managers use pivot tables, reports and the dashboards while BA analysts use past BI reports and capacities to help get tasks done with the required BA information.

11. BI is about Big Data access and control over data while BA focuses on handling the data

12. BI focuses on effectively running the business process while BA brings transformational changes to make the enterprise’s processes more effective and productive.

13. BI is a subject in the field of the ever-popular BA.

14. BI uses tools like for analysis in real-time, data-reporting, Mapping Analysis, OLAP and Dash-boards in comparison to BA tools like requirement and use-case, user stories, data, SWOT analysis, predictive modelling and such.

Conclusion:
Let us now elucidate on the table to sum up our differences. No, Business Analytics and Business Intelligence are different and should never be used interchangeably. The field of BA is vast and with growing data and the need for BI is increasing and encompassing all processes and all fields.

To be a good Business Analyst one needs to learn business analytics too and it goes without saying that to be a good BA analyst BI is essential. The debate ends when the needs and end goals are met through doing a Business analyst course. So, here’s to analyzing, using and predicting insights well using both BA and BI. All the best!

Top 7 FAQs About Business Intelligence For Beginners: Answered

Posted on by Imarticus Learning

Top 7 FAQs About Business Intelligence For Beginners: Answered

Business Intelligence is referred to as the applications and practices used to represent business data. These practices help in making better decisions and also help in developing the business. The Business Intelligence system helps any particular organization/firm to collect, store and manipulate data/information in such a way that it helps in the growth of the business. A lot of questions are asked regarding this field, especially by the newcomers. Let us look at some frequently asked questions about business intelligence and their answers.

Q – What are the skills required for Business intelligence?

A – A person must have soft skills like communication and writing skills, problem-solving approaches, etc. Besides soft skills, one must know how to use various analytics applications such as SQL, ZOHO, Microsoft Business Intelligence, etc. He/she must be able to analyse the given data and use it for business development. A person should be good at taking business-related decisions. These skills are enough for a beginner but you will have to learn more and more if you want to grow after settling in this field of BI.

Q – Where to start learning about business intelligence?

A – There is no shortage of books and resources available for learning Business ntelligence. Some books like ‘Successful business intelligence’ by Cindi Howson, ‘Business intelligence roadmap’ by Larissa T. Moss & Shaku Atre, ‘Business intelligence guidebook’ by Rick Sherman are regarded worldwide as some of the best books on Business Intelligence. Besides these, you can get many post-graduation courses and online courses on Business Intelligence. The IIBA (International Institute for Business Analysis) also offers certification courses and resources on business intelligence. If you just need to add Business Intelligence as a skill in your resume, go for online certification courses.

Q – What are the top job roles in Business Intelligence?

A – Some top job roles in Business Intelligence are as follows –
• Business Intelligence project manager
• Business Intelligence specialists
• Business Intelligence consultants
• Business Intelligence director
• Business analyst

Q – What is the future of Business Intelligence?

A – The backbone of business intelligence is data and information. As you can see big data and its analytics is expected to grow more and more. According to reports, there will be a rise of 14% in the hiring of Business Intelligence experts in 2020. The Business Intelligence tools and applications are giving more accurate results day by day. The big data is supposed to keep flowing with an increased rate in the future too, so to collaborate and manage this big data, analysts will be required. The future of Business Intelligence is quite vast.

Q – What is the difference between analytics and Business Intelligence?

A – It may be confusing in starting as both these terms are used simultaneously. Business Intelligence is a subset of business analytics. Analytics uses the generated data to fulfil current business needs. It helps in increasing productivity and making better business decisions. Whereas Business Intelligence only focuses on current business needs.

Q – What is the average salary for job roles in Business Intelligence?

A – In the USA, the average business analyst salary is $68,075. In India, it is ₹ 7,98,671 per year. The salary also exceeds as you step up, the Business Intelligence Directors in India have an average salary of ₹30 lakhs per year.

Q – What are the focus areas of Business Intelligence?

A – Business Intelligence focuses on the following sectors
• Customer satisfaction level.
• Smart business predictions.
• Cost customization.
• Cross-selling and up-selling.
• Market share analysis.
• Defect/loss reduction.
• Profit and revenue management.

Conclusion

Business Intelligence helps in making smart business decisions that increase the profit as well as the market share of the firm/company. It also helps in finding customer satisfaction levels and customer loyalty. This article was all about FAQs asked regarding business intelligence and its answers. The questions and answers are framed for the beginner level. I hope it helps!

Also Read: Difference Between Business Analyst & Business Intelligence

What are the Salary Trends in Data Analytics?

Posted on by Imarticus Learning

 
Data is being generated and used constantly in all our devices imperceptibly and has evolved into a huge asset in recent times. The very volumes of data being generated and used have crossed the definition of ‘Big’ data many times over. This has led to the technology handling data also evolving rapidly to keep pace and handle greater data volumes. Obviously, no matter how complex the tasks machines can execute they will need personnel and experts at handling data to keep going. Thus the scope for data analysts does appear very bright.

In tandem with demand for data analysts, the training institutes for supplying trained personnel are also constantly updating the courses and technologies taught to ensure the aspirants emerge job prepared. Certifications that are relatively recent are now almost mandatory to give employers a peek into skills possessed, languages they are proficient in, and actually measure the readiness and suitability of the employee.

It goes without saying that a data analyst is as much of an asset to any organization as the data itself. Little wonder then, the Data analyst Salary for the aces in data analytics seems humongous in comparison to other jobs.

Yes, it takes time, practice, a Data analytics Course, and experience to get there but then demand always spurs handsome payouts.

The sought after roles:
• Developers for BI.
• Architects in Data, Applications, Infrastructure, Enterprises.
• Data experts categorized as Scientist, Analyst, Engineer, Statistician.
• Machine Learning Scientist, Engineer.

Salary Trends In Data Analytics

    • This field is blessed to receive a fresher Data analyst Salary range of Rs 6 to 7 lakhs pa which is much higher than other job profiles. With 3 to 7 years on the job, they easily grow into the 1 lakh/month category and this doubles as you gain 7 to 10 years experience.
    • The payouts are better in the metros and big cities. So are the opportunities.
    • The best paying sector is the E-commerce platform companies who have enjoyed much success in the last few years. Starting off with Rs 7 to 8 lakhs packages is not uncommon. The service providers are playing well but not as high as these platforms.
    • Skills in programming with R, SAS, Python, open-source free tool suites, etc can fetch salaries in the bracket of Rs 13 lakhs pa depending on your justifying your skillset. So get cracking and equip yourself.Data Science
      Big data jobs do not score over the Machine-Learning roles in modern times. ML roles start off with packages in the range of Rs 13 lakhs pa. It is ideal to have skills in Big data and analytics so you stand out of the crowd.

      You will need adeptness in big data tools like Python, Tableau, R, SAS, Spark along with ML suites like NoSQL Databases, Learning-Algorithms, and Data Visualization tool suites.

      Re-skill with a Data analytics Course so you can be where the action is if you are already a professional in any of the data-analytics fields. The trend is for generalized data specialists and not just people who handle data well. After all, it makes organizational sense to have a person who can handle the entire gamut of data operations and analytics in comparison to hiring separate personnel for data and analytics job roles.

Choose your career

  • A career as a Data Scientist:
    The data can be big, small or very big. The data scientist examines them all while cleaning, formatting, munging, wrangling and preparing the data before he moves to perform predictive analysis that provides those forecasts, insights and data lakes to draw on.

    One of their core strengths is readying the recommendatory systems used for e-commerce platforms like Flipkart, Amazon, eBay, etc. Very large amounts of data are examined and patterns in purchasing,warehousing, supply-chain management, stocking, product preferences, etc are determined. Since data can be structured in various source-dependant formats a large part of cleaning and preparing the data is required. In the US one could get an average Data analyst Salary range of 139,840$ and the trending e-commerce platforms like Twitter, Facebook, etc are ready to snap up the best.
  • A career as Developers of BI:
    The developer’s role is also an important role and can fetch average salaries in the range of 89,333$. The role involves developing and designing organizational policies and business decisions, building their own tools for analytics if required, improving the IT solutions through effective testing, coding, debugging and tool implementation.
  • A career as an Analyst:
    The analyst role is to provide those gainful insights. They come with good knowledge across verticals and can handle datasets efficiently. They are very popularly used in smaller businesses, verticals like marketing, HR, finance, etc where their insights help make better decisions. They do not earn as high as the data scientist but the payouts are still handsome.
  • A career as an Engineer:
    They collaborate with the scientist and analyst to maintain and develop the structure, create processes using datasets for mining, modeling, and verification of data, and thus spur almost all organizational processes. Their role is crucial in making the data readable and understandable. The average salary drawn is 151,307$ pa and they do have sufficient demand in the job market.
  • A career in Data Analytics:
    This role is popular for analyzing A/B testing, prioritizing data tasks, tracking the web, model making, working on big data set and producing reports for business decisions. The median salary is 83,878$ pa.
  • A career in ML:
    This role is the best paid with high demands and an excellent median salary range of 139,840$ pa. Their jobs involve the creation of funnels of data, software solutions, applying ML tools and algorithms, making prototypes, designing ML systems, and testing and debugging.
  • A career as an architect:
    An architect is responsible for the architecture and the role would depend on whether they are in the Enterprise, Data, Applications, or Infrastructure specialists. This is the highest paid job and the onus of being the supervisor, controller, subject expert, monitor, and liaising with both management and clients rests on him. With more challenging jobs the payouts are definitely higher. Median Data analyst Salary ranges of salaries could be from 126,353$ for Infrastructure architects to 161,272$ for Enterprise Architects.

 
Concluding notes:
The trends show that you should make a career in data analytics because of the demand and supply position is conducive to making a career here. Doing a Data analytics Course at Imarticus is the best-suited method for achieving your goals. Skill accumulation is the golden key. Take note that you get better with experience. So, don’t wait.