Technological advancements in the information age have leveraged the scope of various improvement opportunities for enterprises. These advancements aid in enhancing the performance of enterprises and work collectively with human workforce for achieving set goals. They have successfully eliminated the traditional communication barriers and have assisted enterprises in the development of a technologically-driven workspace for increased productivity.
Machine learning (ML) and Business Intelligence (BI) are two such state-of-the-art technologies that have transmogrified the operational sphere of modern-day enterprises. According to experts, over 76% of companies use machine learning for surging sales while using data facts and insights to guide their decisions. Though machine learning solutions and business intelligence solutions both function on the common ingredient i.e. data, they are different in multiple ways.
Here are some differences between ML and BI:
Machine learning is a subset of artificial intelligence that makes the system self-sufficient to learn and improve on the basis of algorithms and experiences. It works without being explicitly programmed while keeping the focus on development of computer applications and self-learning from the collected data. While business intelligence is a set of top-grade applications that derivate and segregate most useful data to spring performance levels.
Though both the technological colossals function in the data domain, they both differ in terms of data evaluation. Machine learning uses data trained basic and complex mathematical algorithms for providing efficient results while business intelligence studies past data and identifies business opportunities by evaluating data-driven insights.
Machine learning makes full utilization of data mining techniques for the development of forecast models. It trains the machine to learn from data and ensembles modeling for quick and efficient results. Whereas business intelligence segregates and converts raw data into useful information. It can predict future results on the basis of past collected data and plays an effective part in the process of enterprise activity monitoring.
Business intelligence is an independent process that relies purely on data processing skills and provides strategic decisions for profit nourishment. While machine learning is totally dependent on algorithms and models to target outcome predictions with respect to recognized data-sets. It can identify human patterns and enables the user to get faster results than other available technologies.
Both machine learning and business intelligence are dependent on data. They both hold the capability of evaluating structured as well as unstructured data to strike towards the designing of better, profit-earning business decisions. However, it is important to opt for machine learning services and business intelligence services only from the leading service providers having globally recognized certified consultants with rich expertise in helping enterprises gain maximum benefit from these best-in-class technologies.