Both of these connection managers are NOT mutually exclusive but improper usage can cause data type mismatches with the precision lost.
OLEDB
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it supports a wide variety of databases like DB2, Mysql etc.,
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It is faster with fast load option set
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Connects using OLEDB provider and finds popular usage
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OLEDB providers like JET or ACE providers are 32bit only
ADO.NET
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Used mostly in for each loop container for looping over a recordset
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Lookup components are not supported by this connection
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Connects using .net provider
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Works best for parameter mapping in the execute SQL task
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ADO.NET quite flexible when moving across x86 or x64 environments
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No task like OLEDB source component
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MS has stronger inclination to support these providers historically
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