Analyze in Excel vs Excel Live Connection - any difference?

To analyze a Power BI dataset in Excel, one can: 

• From Excel: Data > Get Data > From Power BI > Connect to a PBI Dataset
• From the PBI Service: Select the Dataset > Analyze in Excel

These seem to accomplish exactly the same thing.  Is there any difference, or are they just 2 ways of doing exactly the same thing?  

Thanks,