- Business Analytics, Web Analytics and Business Intelligence - what is the difference?
- What is Web Analytics?
- Business Analytics is ...
- Business Intelligence
- BI tools
- Ranet OLAP
- Possibilities of Web analytics and BI
- Discover insights and opportunities
Today companies struggle to manage increasing levels of information, looking for ways to leverage this critical business data to empower their employees. Web analytics and business intelligence solutions integrate data from operational systems and the web, turn data into critical knowledge about how to run your business more effectively and be more responsive to dynamic market conditions.
Business Analytics, Web Analytics and Business Intelligence - what is the difference?
Web analytics and business intelligence services use an assortment of strategies and tools to improve the functionality and performance of your website in order to drive customers to your brick-and-mortar locations.Both web analytics and business analytics help businesses optimize their data-driven decision-making. The biggest difference between them is about data-driven decisions are made, based on the analysis.
What is Web Analytics?
Web analytics which analyzes your website data aims to improve your web presence. Mainly, it means increasing your overall web traffic, including the number of visitors, total visits, and page views. Collecting data can lead to innumerable insights into your business but only if you have the right tools in place to derive valuable information from it. Additionally, web analytics helps optimize your website’s performance.
Business Analytics is ...
While web analytics focuses on improving your website, business analytics helps to improve your entire business. There’s almost no limit to what you can use business analytics for. Using Big Data, it helps you dive into the data related to your business processes, your customers, your employees and more. Web analytics and BI solutions provide modern analytics capabilities that work together to analyze data wherever it resides for enterprises of all sizes and across every industry.
Similarly to business intelligence (BI), business analytics helps you predict future outcomes and performance. It helps by creating reports and predictive models from your data, which reveal valuable insights. These reports are great for finding trends, while predictive models help you prepare for the future. The modern solution of a question is the creation of the web and analytical product customized under features and the purposes of specific business.
BI (Business Intelligence) is the platform for business analytics, which includes finished architecture for company data analysis, models formation and compilations of hypotheses.
According to a platform choice, it is necessary to be convinced that:
✔ the BI platform can work with your data sources, can load data files and necessary databases
✔ the BI platform can transform the loaded data to the necessary models (possible to work)
✔ the BI platform can support different facilities for combining data in a complex data model
✔ the BI platform can support reports creation and visualization by means of the built-in toolkit
✔ the BI platform can support the deployment of third-party applications for different integrations.
After all, what’s the point of a highly trafficked website if it doesn’t help the bottom line?
To maximize the effectiveness of your website, you need to make sure that it helps increase your customer base by finding new leads. Organizations can take advantage of business intelligence tools to make sense of complex big data. These solutions can collect, analyze and convert such data related to web traffic into understandable reports that can provide businesses with valuable insights, which in turn drives a corporate profits.
One example is Galaktika BI (Business Intelligence). The product is aimed at data and web analysts, marketers, executive management and agencies that work with web analytics data and aspire to deliver more business intelligence from their investment. The solutions comprising the Galaktika Business Intelligence suite are based on the platform which uses the cutting edge IT products: Microsoft.NET framework, service-oriented architecture (SOA), web services, and OLAP technology. We use world-class business intelligence software to make sense of a complex digital world, so you can see the bigger picture of your business.
Ranet OLAP is a ready-to-use data analysis tool. It’s an excellent tool to provide analytics on its basis. It is the fastest and the most powerful platform. Moreover, it allows making complex and resource-intensive computation. The most important thing is this system’s so flexible that meets its most exacting users’ needs. Built on a strategy of using analytical insights to drive business actions, our analytics platforms support the analytics lifecycle – from data to deployment.
Possibilities of Web analytics and BI
With the powerful combination of web analytics and BI, you can give your entire organization instant access to the insights they need – anywhere, at any time. And since all the information is timely and in one place, teams can quickly identify new market trends and the opportunities that help drive business forward.
Business intelligence tools are currently being used for strategic corporate goals, which include cost-effective deployment of resources, business health planning and generation of insights to quickly make strategic decisions. Through web analytics and the integration with BI, you can discover unique insights and opportunities and share them across your organization.
Organizations that will win in the digital economy are the ones that give all their employees, partners and customers immediate access to the most relevant information they need to answer every question, understand their businesses, and seize new opportunities. With the rise of digital business and the emergence of the millennial workforce, expectations for analytics applications have changed. Business buyers and users need solutions that are simple to acquire and use. Business intelligence tools are what enable business people to transform data into information that will help their business.
Discover insights and opportunities
Business success in the digital age is only possible when organizations tap into new ways to leverage data to better serve customers, create new business models, and deliver value to all stakeholders. The web analytics opens up possibilities for the informed, systematic and results checked marketing. Yes, it’s difficult and it requires complete understanding. But implementation of web services will spare promotional budgets and will reveal how businesses can move towards a fuller view.
Companies must think about investing to have the best measurement tool that allows them to have ownership of their own data, being able to access their database, optimize, modify, customize, being able to cross that data with other sources and from there use a system which enables you to work without such a high investment. In other words, the future of web analytics is Business Intelligence.