Steroid Warehouse: Data Science and Business Information gathering are sometimes, erroneously, used as interchangeable terms. Both Data Science and Business Information gathering provide a great deal of added capabilities. And benefits to your company, even though they are different.
A few years ago Business Information, also know as BI, was the king of information use to differentiate your company from your competitors. BI was gather by sophisticated software that investigated a company’s databases. And pulled out relevant information and KPIs that were use to make management and director level decisions.
However Big Data came knocking on the door with its myriad of unstructured information coming from everywhere. And BI began to struggle as it needed more structured data to work from.
Data analysts that had until more recently were the luxury hiring of larger companies, began to be more sought after. Using appropriate software, they could integrate the mass of Big Data and find not only KPI an decision making reports but also predictive information with high levels of accuracy. The ability of data analysts to not only gain past information. But also future predictions meant companies with data analysts had far more useable information with which to manage and expand their companies. Truly information that was BI on steroids.