Taking into account various models and findings pertaining to the nature of analogical reasoning, this study explored quantitative and qualitative individual differences in intelligence using latency and eye-movement data. Fifty-five university students were administered 14 selected items of the Raven's Advanced Progressive Matrices test. Results showed that individuals differed in terms of speed, but also in terms of differences in strategies. More specifically, higher and lower ability subjects differed in terms of their patterns of item and matrix inspections, and several strategic indices (proportional time on matrix, number of alternations between matrix and response choice, latency to first alternation, matrix time distribution) emerged in regression analyses as significant predictors of Raven performance. Given the high reliabilities associated with these strategic indices, it is argued that these results provide evidence against a strong basic-information-processing view and supports a multifaceted view of individual differences in intelligence that includes differences in strategies.