Emotional intelligence (EQ) is the capability of people to recognise their own feelings and emotions and also of other people as well. And by doing so also adjusting their behaviour towards other people or understanding other people's behaviour and acting accordingly. This is very beneficial when working around people, either as part of a team and also in a leadership position.
Intelligent quotient (IQ), is a measurement of a person's reasoning ability, it has nothing to do with how much this person knows about any particular subject, but rather their capability to reason and solve problems. To put it in another way, every person has the potential to learn anything that they want, but people with higher IQ will have less struggle learning that same subject.
The difference between IQ and EQ is that IQ measures the ability of a person to solve problems with logic and reasoning, while EQ is the way that a person will approach a problem that involves another person; this person will take into consideration one's own emotions and feelings and other people's emotions and feelings and then figure out a way in how to approach any situation, it can also be very important in order to solve confrontational situations between people.
Compared with IQ, which allows a person to be able to approach a problem/situation in a logical and reasonable way; EQ is important because we interact with people every day, when we go to the supermarket, when walking down the street, with our co-workers or our clients, etc. A person with hight EQ will connect better with people, will be able to work better with their team and their clients, will be a better leader and understand better their leaders.