Business Intelligence vs Data Science in Real Life

have you ever wondered the difference between business intelligence and data science well in this video i'm going to answer that question for you let's jump in [Music] hi there my name is ruben and i'm a data strategist or sometimes a professional treasure hunter that's how some clients describe me and i'm working with companies to help them find more insights out of their data all companies have data all companies are sold on data and why it's important it's just a matter of how you find more value and insights out of that you know data haystack and that's where i come in now in this video i want to talk about two fields or terms that sometimes become a little interchangeable at companies that is business intelligence and data science but not really quite the same in fact i think the difference is quite stark and something to be aware of which will determine who you hire what they do and how to make the most out of that specific resource or person so let's jump in into the differences which one might be the best one for your company the way to think about them is really by taking a maturity test exam you know there's all kinds of uh assessments out there with five levels six levels 12 levels i don't know you know my maturity assessment only has three and it's really quite simple it has past present and future so we talked about this before in the previous video today we're really focused on two of them that is the present and the future business intelligence is all about the future in my opinion this is really where it really shines and it really wants to help us understand what is going on now what's the performance of that campaign that is currently running when we launched that product or or you know we launched a product two weeks ago how is the product doing is it really getting the right adoption so it's all in the present it's relatively real time the deliverables or the outcomes or the you know the tangible things we might see here are things like dashboards reports and this is what you know bi tools are all about they're really showing us what is going on what we should do right here in the present now data science on the other hand is really all about the future it's about predicting what might happen so this might be making changes to your forecast your sales forecast and might be launching new products you know self-driving cars is a pretty classic example of this but any kind of new product and it's maybe trying to predict what the users might want so for example spotify does music recommendations and that is based on your your history your past history and present history and it gives you future recommendations you know this is a song you might like so that's data science and that means that we have very different skill sets approaches that are needed for each field data should be a support within your company it's not the main thing i don't think data driven is actually correct it should be about being data supported i didn't support a culture and you know i'll have a a screen here i did a presentation actually for a conference called forward 20 and i was talking a little bit more about this idea about data support culture so check that out let me give you some just best practices for bi and data science you know bi is all about real time and it's about what decisions people need to make so what interests are needed for that that's really bi you know how can we help a team a person make better decisions for data science focus on three things write projects write people and write data that's something that's going to be useful that could be done with data science and it'll have some kind of impact on your company that's project the right people you know the right skill sets the right data scientists the right backgrounds you have to find those and the right data you need to make sure you have path and present data clean make sense structure or even if you have unstructured data they can work with it so you have those three things you can typically do a lot of good things with data science and maybe i'll do a video in the future more about that that's all i have for today uh this is the difference between business intelligence data science if you enjoy this make sure to subscribe you can look for all those buttons around this video and there's gonna be two links in the description for you one is a weekly newsletter i call the growth needle it's ideas like this one in a weekly text format i think you'll enjoy it and then twitter i just started using twitter i'm posting ideas there on a regular basis and it's a great place to ask me questions follow me stay up to date so check those two links out in the description finally tell me what's just one thing you learned today is there something that you you know you didn't know you had a misconception perhaps and now it's more clear let me know in the comments i'd love to hear from you until next time talk soon

Channel: Practico Analytics

Views: 5,609

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Id: ud4lpAkDrTM

Length: 4min 8sec (248 seconds)

Published: Thu Jan 28 2021