AI vs BI – Learn The Difference

ai vs bi

Using the power of technology is a must for any business looking to compete in today’s world. Many business owners understand how important technology is, but are unsure about how to implement the use of things like artificial and business intelligence into their daily operation. A recent study shows that a whopping 27 percent of small businesses in the American don’t even have professional IT support.

Artificial intelligence (AI) and business intelligence (BI) are buzzwords that you may have heard thrown around by IT professionals before. There seems to be a great deal of confusion when it comes to the differences between these two technological advancements.

If you are curious about the differences between AI and BI, read below to find out some helpful information.

The Overall Goals of Artificial Intelligence and Business Intelligence are Quite Different

One of the biggest goals that BI programs have is streamlining the collection and analyzing of data. Not only will BI allow a company to collect data with ease, it can also improve the actual quality of the data collected as well. Without data, it will be extremely hard for a business to make educated decisions about what direction to take or how to better serve their customers.

Simply collecting large chunks of data does nothing for your business. You have to find a way to polish that data into useful information. This is where business intelligence comes in. The main thing you need to realize is that business intelligence merely makes the data you are collecting easier to understand and access. It will not be able to provide you with any guidance regarding the direction you should take with your data.

Successful companies like Tableau and Microsoft use BI tools to help with things like HR, sales and other vital business functions. In essence, business intelligence tools will allow you to monitor everything your company does on a daily basis. With this information, BI will allow you to create performance metrics and customized dashboards to stay up to speed on a variety of issues.

What Are the Goals of Artificial Intelligence Tools?

Now that you have a grasp on the goals of BI tools, we will move onto what AI tools can help with. Basically, AI tools are interested in mimicking and modeling human intelligence. These tools can be used to help a company make rational decisions based on large amounts of data.

When developing AI tools, most developers are interested in finding out whether or not their programs can adapt and learn like humans. The more information these programs are given, the easier it will be for them to help in the making of important business decisions. Companies who use AI tools claim to have a higher level of efficiency, which generally leads to higher profits as well.

While BI make analyzing data easier, AI programs are designed to allow computers to make decisions based on the data they receive. One of the best examples of an AI program’s ability to make human-like decisions is chatbots.

An overwhelming number of companies now have chatbot software on their websites. These AI-infused programs are able to answer customer’s questions without any intervention from a human. When used correctly, chatbots allow companies to serve their customers better.

bi vs ai

How Are AI and BI Used in Today’s World?

One of the main things most people want to know about AI and BI is how they are being used by businesses around the world? Most people have had interactions with both of these technologies and don’t even know it.

The Ways BI is Being Used in the World of Business

Have you or your employees ever used Microsoft Excel to create a spreadsheet? If so, then you are already using business intelligence without even realizing it. These spreadsheets allow business owners to both visualize and analyze data in an easy to understand way.

Any tools that you use to gather data from customers are considered business intelligence as well. Most companies use everything from emails to social media to keep track of their customer’s needs. Utilizing the power of this data is only possible when investing in state of the art BI technology. With these tools, you can collect data from a number of touchpoints and use this information to gain a better understanding of your core audience.

How Companies are Using AI

Among the most common uses for AI in the world of business is in relation to process automation. Many businesses offer consumers AI-infused programs that allow them to update their information and fill out basic contracts with ease. In the world of modern business, AI programs are replacing human administrative functions. When paired with the access rights management tools, AI tools can help your team work smarter not harder.

Some companies are also using AI cognitive insight applications to further their understanding of modern consumers. These applications collect data that they then use to improve themselves. The cognitive insight applications on the market are able to predict customer behaviors and improve IT security by taking in data and using it to make informed decisions.

Are you interested in moving your business technology into the 21st century? Consulting with IT professionals who are familiar with AI and BI is essential when trying to improve your business technology.

Leave a Reply

Your email address will not be published. Required fields are marked *

Sign up for Reflective Data

5,000 sessions / month ×

Please enter your email

Submit

After submitting your email, we will send you the registration form.