Business Intelligence (BI) Software
Do you intend to fuse Business Intelligence into your growing business? Considered generally as the third wing of Information Technology, the BI platform can be helpful to store and process a tremendous volume of information. Not just that, BI software aids businesses to transform information into noteworthy insights and settle on data-driven choices progressively. To help enterprises meet these specific business needs, GoodFirms lists some of the best Business Intelligence Software available in the market. The listed business intelligence tools are accompanied by software details and customer reviews.
List of Best BI Tools | Top Business Intelligence SoftwareFilter
InfoZoom is an easy to use solution for analyzing data without having to first define and store tables or files. It only takes a few clicks to define and start analysis. There are many aggregating functions such as sum, average, minimum, maximum, etc. Analysis is just a matter of dragging and dropping suitable attributes into the analysis group. The number of attributes are unlimited, thus providi... read more about InfoZoom
Isaak is the world's first AI dedicated to people analytics, and provides automatic, live insights into workplace wellbeing, team collaboration, and customer relationships to help companies drive organizational change. Isaak allows both managers and employees alike to understand company behavior and effect digital transformation. By analyzing exclusively the metadata of user activity, Isaak ensure... read more about Isaak
Rapid Insight provides data prep, automated predictive analytics, and reporting software that prioritizes ease of use and excellent support. Our products enable you to turn raw data into actionable information and share insights across your entire organization. ... read more about rapid insight
Improving experiences is why InMoment exists. XI is how we do it. Businesses know they need to compete on experience, and yet, most are not moving the needle. Customer scores go up, but revenue goes down. Why? The use of old, tired techniques like feedback collection and monitoring applications can focus your attention on the wrong things. We built InMoment to change all of that. We’re ushering ... read more about InMoment
flex.bi solutions provide the awareness of the progress and the possibility to get answers to your important questions as well as for quick spotting of discrepancies and errors. It enables the full potential of your employees by giving them insight and understanding on how they are influencing the business and showing them that they are actually setting the company up for success or failure. We ar... read more about flex.bi
Zerion Software is comprised of innovators, problem solvers and builders, committed to empowering teams around the world in multiple industries to improve quality, compliance and safety while accelerating better decision making through the building of enterprise-level data workflows and fully integrated solutions. Working with Zerion means working with more than a standard data collection tool. Ou... read more about Zerion Software
Cloud-native BI and analytics with Cloudera Data Warehouse. Get more value from more data, cost-effectively, with the flexibility of Cloudera Data Warehouse in the cloud. Only Cloudera offers cloud-native capabilities that bring high-performance analytic SQL to data wherever it lives (without requiring ETL or data copies), paired with the elasticity to scale as and when you need it. Cloudera’s ... read more about Cloudera Enterprise
MANTAs unified lineage platform helps businesses around the world fix the damage done by poor data management and the manual processes surrounding it. MANTA can scan numerous modeling, BI, ETL, and big data tools and programming languages and push the lineage into any third-party governance solution. We are trusted by huge companies such as Comcast, OBI and big player from US Banking Big Four. Cur... read more about MANTA
Omnicontext™ is designed to collect, integrate, and analyse a wide range of distributed data sources to create a comprehensive view and detailed understanding of events, activities, and structures in organizations of any size. Data collection, consolidation and reporting to the users is fully automated. It can also operate as middleware, processing data for use by other applications. The OmniCon... read more about OMNICONTEXT
OQLIS Data Analysis Software helps Businesses make more profit, have better customer service and be more productive by harnessing the power of Data. OQLIS enables everyone to interrogate data and build dashboards in an intuitive drag on drop interface, safely and securely. All using the power of the modern web. OQLIS removes the complexity of combining Big Data, Business Intelligence, Intelligent ... read more about OQLIS Analytics
Active Intelligence Visualization (AIV) simplifies every step of your BI needs just in three simple steps so you can start analyzing your data instantly. AIV is a hub which brings together all your data from different sources and allows you to create, analyze & distribute your information intelligently, be that in the form of reports, interactive dashboards, or embedded widgets in the apps. AIV of... read more about Active Intelligence
Conversific is a new kind of analytics tool for Shopify that assists you optimize your traffic and conversion, gather better data and grow online sales. Conversific is a new kind of analytics tool for Shopify & WooCommerce that help you optimize your traffic and conversion, gather better data and grow online sales. The 4 pillars of Conversific Reports - see all your important metrics in one place;... read more about Conversific
An Extensions solution is any combination of data manipulation and calculation, selection filters, analyses, tools and functionality within a structured sequence, which drives the targeted business processes. The order, detail and data routines of this sequence are completely flexible, enabling the transformation of strategy into working processes. Extensions solutions leverage the large volumes o... read more about Extensions
Bright Analytics is a modular analytics platform with integrated solutions for data acquisition, preparation, analysis and sharing. Bright Analytics integrates all the data sources you need to analyse within a single platform. We understand that all business are unique and that's why we don't try to fit you into strict templates : our platform can connect to unlimited data sources and bring them a... read more about Bright Analytics
Datameer's familiar spreadsheet-like interface and end-to-end platform is applicable for business analysts across any vertical, including Financial Services, Telco, Retail, Healthcare, and more. Datameer transforms businesses into agile, data-driven organizations. Datameer's enterprise-grade platform for business-led data preparation and exploration enables analysts to work directly with complex, ... read more about Datameer
Avora continuously analyses millions of records, across all of your data sources. In seconds you understand why your business metrics are changing, the impact of each factor driving the change and the metric forecast. To get started, pick the metrics you want to keep an eye on, for instance conversion rate and revenue. In a few seconds, Avora shows you the metric trend, highlights unusual behaviou... read more about Avora
InduSoft Web Studio – The integrated development environment that allows you to design applications once and deploy them on almost any platform. Increase competitiveness and minimize costs through Portability, Mobility, and Interoperability in a cost-efficient solution. ... read more about InduSoft Web Studio
icCube BI is the solution of choice for all companies needing to set up a powerful but simple and efficient business intelligence infrastructure and share it across the organisation. You get all the features of our end to end BI solution, without the hassle of installing and maintaining a server. icCube’s team will take care of the hosting while you can focus on what is most important to you: cr... read more about icCube
KeyVision is a software solution that helps lawyers run their business efficiently and grow, using technology. KeyVision was developed for lawyers and firms, small or large. For over 10 years we have been helping hundreds of law firms, small, medium or large, as well as individual law firms, with the best software solution and know-how. KeyVision eases your administrative tasks and helps you take ... read more about KeyVision Pro
DrivenBI SRK, the Cloud-Native Self-Service Business Intelligence platform that empowers business professionals to drive their own analysis while reducing reliance on IT. We give business Professionals an intuitive means to create and access real-time, accurate business insights within a centralized, secure, and collaborative environment. We offer an innovative alternative to traditional IT depend... read more about DrivenBI SRK
A new web based simplified Tableau documentation tool designed to make the management and documentation of Tableau workbooks much easier, faster and simpler. It helps users put together documentation for all the workbooks created so your team can focus on Visualization rather than getting side-tracked by Tableau documentation. Data lineage of Doxami helps to track a data from its origin to its de... read more about Doxami
Import data from all your sources, clean it, merge it and centralize it in a datawarehouse. Create dashboards and share them. All of this in a single app, easy-to-use. Using Serenytics, you create the habit of keeping track of all your processes using dashboards and a ROI approach. Because Serenytics is easy to use, you quickly develop your skills to create dashboards. It becomes very easy to add ... read more about Serenytics
Performax360 works side-by-side existing Business Intelligence and Enterprise Performance Management applications. While traditional BI/EPM platforms such as IBM Cognos, Microsoft BI, Oracle BI, SAP, and others provide financial consolidation, reporting, budgeting, planning, and other functions, they are not purpose-built for gathering, analysing, and reporting 360° LIVE stakeholder intelligence ... read more about Performax360
With an easy-to-use platform for interactive reporting, data analysis and report distribution, Contour BI platform provides access to all corporate data sources, builds interactive reports with zero programming and publishes interactive reports to your local network and the web. Contour Components, LLC is focused on research and development in Business Intelligence and provides an innovative “ou... read more about Contour BI
Dataddo is cloud-based data integration, automation and transformation platform designed to work with almost any online data service such as Salesforce, HubSpot, Google Analytics, Facebook or Instagram. Dataddo can transform and wire the data to a wide range of databases, DWHs, cloud storages, dashboarding and BI applications, allowing smooth interoperability with existing IT and BI stacks. Datadd... read more about Dataddo
A Business Intelligence platform natively running with massively parallel databases for data visualization, operational analytics, tracking and reporting. MPP BI paves information superhighway to your business data. MPP BI is flexible, robust, scalable, and easy to manage. MPP BI natively integrates with MPP databases using a high-speed two-way FDW connector that allows to display tables, physical... read more about MPP BI
We provide Industrial IT solutions for the connected world. As the UK and Ireland distributor of AVEVA and Wonderware software, and working with other top technology providers our goal is to help our customers improve their industrial operations through the provision of the optimum solution set of hardware, software and managed services to suit their operational goals and requirements. We work wit... read more about Wonderware Intelligence
Integrate your data within the Yaguara platform. Here, it's normalized using industry best practices so that you can get the full picture, define your own metrics, and gain cross-functional insight. Data without context leads to confusion. Yaguara helps your team tie unified data directly to your goals and projects so that you have real-time understanding into overall performance. Reduce the time ... read more about Yaguara
With ClickBase you can easily analyze your month to month or even day to day sales comparisons to any level of detail and between any elements of your business. You can know exactly where expenses are being spent, by whom and when for accurate allocations across monthly departmental reports. You can track current inventory levels, orders pending and sales trends by individual sales rep or by speci... read more about Clickbase BI
Cyberquery is a fast, easy-to-use, Business Intelligence solution which includes dashboards, reporting, analysis and data exploration for power users, occasional users and IT professionals. Cyberquery provides you with the fastest and most productive way to explore, analyze and understand the data that drives your business. Cyberquery is one of the fastest, easiest and highest‐quality Business ... read more about Cyberquery
Optimacros supports the full spectrum of tools to optimize, analyze and visualize data. It offers extended integration features with legacy systems and other BI tools. It provides flexibility in interface customization, data storage structures, and performing calculations. Optimacros implements customization on the level of scripts and user-defined macroses. With Optimacros, we help you process an... read more about Optimacros
Whether you're creating reports, or using them to make key business decisions, Data Vizioner instantly lets you see how they are built and gives you confidence that you can trust the data you are seeing. Dashboards and reports are often poorly documented, making them difficult to work with, handover and review - wasting the time of already strained employees and significantly increasing budget, pr... read more about Power BI Documenter
The Foresight Intelligence Center automates the collection of all your business data into a highly-interactive dashboard, delivered in real-time. Make smarter and faster decisions to keep your business moving in the best strategic direction. Gain real-time visibility into your organization’s performance by always having access to the most up-to-date information. No more waiting for static report... read more about Foresight Intelligence Center
iMAL helps traditional and emerging Islamic financial institutions drive truly digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights-driven interactions and ubiquitous automation. iMAL suite of solutions addresses the core banking, Islamic banking, investment, financing and collection, omnichannel, payments, treasury, trade finance, risk management an... read more about iMAL
Recruit, develop and retain high performing teams with PageUp: software that puts people at the heart of your business. PageUp provides you with a full suite of tools to help you deliver measurable results. With world-class support to guide you through implementation and beyond, we work closely with you to get the most out of your system. Enhance your workflows and increase efficiency with hundred... read more about PageUp
Toolpack365 is an innovative solution for the financial department of the future. The tool combines a centralized and structured database with the best budget-, analysis- and presentation technology while being fully integrated with your ERP system. Enabling you to utilize your time and data to the maximum.... read more about Toolpack365
Affinio’s Embedded Analytics and Matchmaker platform are both available inside the Snowflake platform. As a Snowflake customer you have access to this two-in-one solution. Run Affinio’s graph analytics on your own internal first-party PII data inside Snowflake. Anyone with or without a technical background can use Affinio to query their data, and their answer comes back in seconds, not days. D... read more about Affinio
Quickly and accurately assemble a complex product or package based upon literally thousands of rules, options and relationships. Develop error-free datasheets, price sheets and drawings in seconds. Make it available throughout your global sales channels, easily adapting to different languages, cultures and time zones.Adds detailed construction datasheets, general arrangement drawings and final pro... read more about Intelliquip Configurator
Ammras is an innovative MR Reporting tool which makes your team focus on what really matters.It equips life science companies with the decision support tool which analyzes real-time market data, channel activity and HCP (Healthcare professionals) with preference to provide life science companies with insights, clarity, and guidance to deliver the right information at the right time. It makes use o... read more about AMMRAS
Anstrex offers a suite of products specifically created for online advertisers and performance marketers. We provide you with data on your competitors' online advertising and marketing campaigns. We have over 15 million ads from 50k+ advertisers spread in 92 countries. Our data analytics tools are second to none. In addition, we have a product for e-commerce and dropship store owners that facilita... read more about Anstrex
In an increasingly global and data-driven economy, businesses need flexible and scalable management and collaboration tools with predictable costs in order to conquer new markets and maximize revenue. For companies to expand and grow, employees must have access to tools that are secure and accessible on any device and from any location. This is the reason we created Genialcloud. From SMBs to globa... read more about Genialcloud
Insiet is Financial Consolidation and Reporting Software on Cloud. If you are running multiple system across your business, we help to streamline data and enable organisation with powerful financial reporting tool Move away from traditional system where you always relied on developer to build analytics reports. Our software gives you the ability to build interactive reports and dashboard with easy... read more about Insiet
Jellyfish is the leading Engineering Management Platform, providing complete visibility into engineering organizations, the work they do, and how they operate. By analyzing engineering signals and contextual business data, Jellyfish enables Engineering leaders to align engineering decisions with strategic business objectives and deliver the right software, efficiently, on time. ... read more about Jellyfish
Knowi is the only full stack analytics platform that natively integrates to all the popular NoSQL data stores, as well as relational and Cloud APIs sources. Our data layer eliminates the need for ETL to move, flatten and transform data for analytics. Our natural language BI capabilities get analytics into the hands of the other 80% by enabling your non-technical users with the power to ask questio... read more about Knowi
We help retail suppliers analyze electronic point-of-sale (POS) data in order to optimize inventory and drive incremental sales. We fetch your POS data from multiple sources and normalize the data so that you can slice and dice across channels, between retailers, and within a specific retailer — right down to the store or article level. We make a powerful point-of-sale analytics software for who... read more about Krunchbox
We blend state-of-the-art performance marketing technology, a full range of marketing and sales solutions, and a hands-on team of industry experts to help businesses streamline their operations and entire customer journey. ... read more about Marketing Town
Planning Analytics automates and thereby improves the planning reporting and analysis process. With the power of the state of the art business intelligence platform, it helps the business users with self-service analytics that can give actionable insights with ability to answer intuitive questions on every click. Anamind helps you implement state of the art Business Intelligence and Analytics plat... read more about Planning BI & Analytics
In the course of digitization and the increasingly complex products and services, the requirements for product and service communication are changing. Good for those who can offer their customers precise use of the data relevant to them at any time and any place. Make your product information easy to find in one central location. Thanks to the dynamic full-text search, your users do not need any k... read more about Sherlock
A Self-Service business intelligence software allows you to Discover Trends, Track KPIs and Visualize data. Connect to multiple data sources, create and schedule reports, set alerts and run predictive analytics with our drag and drop GUI. As a Self-Service BI Software, StarBI empowers business users by turning data into actionable insights and enable organizations to improve on decision making. St... read more about StarBI
- Introduction to Buyer’s Guide for Business Intelligence Software
- What Is Business Intelligence?
- What Is Business Intelligence Software?
- What Is the Difference Between Business Intelligence and Business Analytics?
- Why Does Business Intelligence Software Matter for Your Company?
- What Are the Key Categories of Business Intelligence Software?
- What Are the Benefits of Business Intelligence Software?
- Things to Consider Before Buying a Business Intelligence Software
- Time-Saving Features of Business Intelligence Software
- Emerging Trends in Business Intelligence Software
- How to Implement BI Software Successfully?
- What Is the Average Cost of Business Intelligence Software?
- Why Refer to Goodfirms' List of Best Business Intelligence Software?
Introduction to Buyer’s Guide for Business Intelligence Software
The digital revolution has fuelled enormous opportunities for businesses to grow at an unprecedented rate. The organizations that are marching on this growth path have become data-driven and are investing heavily in technologies to enhance their performances. They are harnessing data technology like business intelligence software to help them in engaging customers, optimizing operations, reducing business costs, improving product quality, and making better decisions. Not just large enterprises, but small and mid-size companies are showing the same anticipation for the data-intelligence software to solve their complex issues.
With AI, cloud computing, and big data, data intelligence software has become more powerful and accurate. The organizations are now bracing up to take advantage of these new features and make it a part of their culture. However, before they get their hands on new features, it is essential that they get familiarized with the business intelligence software selection and need for advanced BI tools.
This buyer guide is intended to help business owners, executives, managers, data-analysts, data-scientists, and other data technology enthusiasts on the important aspects of BI software and parameters to consider while buying the software. It envelops everything that business owners need to know about the BI tools.
What Is Business Intelligence?
Business intelligence is a technology-driven approach for analyzing business data and presenting actionable insights to help business executives, managers, and stakeholders to make informed business decisions. The BI technology includes tools, strategies, and processes to refine raw business data into meaningful data and present them in a most comprehensive format.
Why Is Business Intelligence Critical?
A business that consists of various departments like Accounting, HR, Sales, Marketing, etc., produces a large amount of data while performing daily activities. But these data are disorganized (stored at various places and in various formats) and unstructured and may not be of use until it is consolidated and streamlined. This is where business intelligence can be helpful. Business intelligence uses technologies like data warehouses, data discovery tools, dashboards, ad hoc reporting, etc., to consolidate and derive valuable information from the data reciting across various business processes.
In the data-driven world, data technology like business intelligence is very crucial in identifying new business opportunities and taking competitive market advantage. It gives organizations the power to access, analyze, understand, collaborate, and act on information. With better insights about the working, trends, and analytics of the business process, organizations can identify risk elements that set them back and allow them to focus on the area for improvements. But to collect more in-depth and business specifics analytics, the enterprises have to resource an end-to-end Business Intelligence Software.
What Is Business Intelligence Software?
Business Intelligence Software is a tool that converts the raw business data (structured and unstructured) into valuable data insights for business owners or stakeholders to make an informed decision. The business intelligence tool extracts current and historical data related to business from various sources. They slice and dice these data to get a full 360-degree view of the business and generate the reports to analyze the business performance or any other metrics.
BI software is generally used by:
- Managers and executives
- Data Analysts
- Front line worker
- IT developers
- Information workers
- Suppliers, customers, and regulators
Business intelligence Software benefits are immense, and organizations can enhance their business efficiency by incorporating them in their infrastructure.
What Is the Difference Between Business Intelligence and Business Analytics?
Business Intelligence: Business intelligence is focused on descriptive analytics. It uses historical and present data to determine what has happened and what is happening.
Business Analytics: Business Analytics is a superset of Business Intelligence, and is focused on predictive analytics. It uses predictive models and machine learning algorithms to determine what will happen.
Why Does Business Intelligence Software Matter for Your Company?
- Better decision: In a data-driven world, businesses can reap more benefits with BI software. It helps to dig deeper into the business process and derive valuable insights from it. They can use these insights for making crucial business decisions.
- Compare data with competitors: Organizations, big or small, can use a BI tool for conducting customer surveys and collect data about how customers feel about the competitor’s product or what are their expectations from the product. These insights can be used in the future to get a competitive advantage.
- Track performance: BI software with a detailed report on business activities can help the organization track its business performance.
- Executive Scorecards and Dashboards: The top business intelligence tools provide business executives with detailed scorecards and dashboards to track business performance and capture essential business events.
- OLAP analysis: The best bi tools with OLAP help businesses to perform data analysis efficiently. It is due to OLAP structure and nature the business analyst can derive quick information from the database. OLAP helps in fast query execution, which means the data are available in a short time for making a rapid decision.
- Ad hoc reporting: Ad-Hoc reporting is the process of creating reports on the fly. The best business intelligence companies provide this feature in their tool, and it allows businesses to fetch reports on any particular activity and speed up the decision making process. Unlike a structured report, ad hoc reporting does not require experts and thus reduces the IT workload.
- Operational reporting: Operational reporting is a rapidly developing area of business intelligence. Operational reporting software can either be used as a stand-alone, or can be used in combination with BI solutions. The operational reporting allows businesses to view data of their daily activities in real-time and in multiple ways.
- Forecasting market trend: Data-mining is an integral part of top business intelligence software, and it allows industries to predict the market trend.
- Customer relationship: With detailed insights about business activities, the business owner can study customer behavior and purchasing habits. Based on those insights, users can design their customer retention strategy and build better customer relationships.
- Identify the bottlenecks: The best business intelligence companies could help in identifying the bottlenecks in the business process. The BI dashboard displays intuitive reports about the business in detail, which makes it easy for business executives to study the obstacles in the system clearly. He can also determine how frequent and how long the problem persists within the business process.
What Are the Key Categories of Business Intelligence Software?
There are varieties of tools that fall under the BI software category.
- Dashboards: Dashboard is an integral component of BI software and is widely used to display important business metrics, track KPIs, and critical data points relevant to an organization. Dashboards enable organizations to make complex data easily understandable and approachable for non-technical users. It is restricted to one –page. Dashboards are elaborate in nature and mostly focused on more narrow aspects of an organization. It can be updated in real-time.
- Visualizations: Data visualization software enables users to put data in visualize form and communicate information efficiently.
- Reports: Reports are static documents that include data in text and table form, and sometimes it may involve graphs and charts. It features data that is already cleaned and sorted. Unlike dashboards, the reports are sprawled to multiple pages.
- Data mining: Data mining is the process of sorting and analyzing a large set of data that helps companies to solve problems and mitigate risks.
- ETL: The process of ETL (Extract, Transform, and Load) plays a significant role in data integration strategies. It also helps in migrating data between various sources, destinations, and analyzing tools; therefore, it is very important from the point of business intelligence.
- OLAP: OLAP stands for Online Analytical Processing. It is software that performs multidimensional analysis at high speeds on large volumes of data.
- Data warehouse: A data warehouse is an analytical database that sits on top of the transactional databases for analytic purposes. The data warehouse selects, organizes, and gathers data for efficient comparison and analysis.
- Business activities monitoring: Business activity monitoring (BAM) software allows managers and executives to monitor business processes in real-time. The BAM system compiles all the business-related information in one place so that the data can be consulted anytime, anywhere.
What Are the Benefits of Business Intelligence Software?
There are numerous benefits of business intelligence system, but it largely depends on how organizations want to use it.
- Faster, relevant, and accurate reporting: BI software pulls in data from various sources into a data warehouse, and then analyzes the data based on user queries, reports, and dashboards. The BI software facilitates real-time reporting and populates accurate data on various business events.
- Visual analytics: BI tools present data in visual forms that are comprehensive and understandable.
- Data-driven business decisions: Business intelligence tools enable users to gather data from various sources and clean up data for better visualization. With quality business data in hand, it becomes easier for the business owner to make a smart decision.
- Understand customer expectations: The top business intelligence software can help understand customer expectations and deliver better service. The business owner can anticipate customer needs by analyzing the purchasing pattern and customer behavior.
- Identifying marketing trends: With the help of quality data, businesses can establish a new strategy that complements the market trend. For instance, the marketing team and sales team can build their future strategy based on the reports populated by the BI tool.
- Streamline Operations: By having exact information or data, the organization can clearly identify the error within the business operations and can take steps that can streamline the processes.
- Reduce financial loss: Business often incurs financial loss due to wrong decisions, but with BI software, the business owner can have better insight on the data, which allows them to make the right decision and take calculated risks.
- Increased organizational efficiency: The BI tools collect data from all relevant sources, which helps the organization to unlock the treasure in the business data. It also saves time for business owners and managers on accumulating data with the traditional method.
- Real-time updates: Some BI software provides a customized alerts option. The users can set automated alerts to send emails to management or departments related to it.
While the above-mentioned benefits of the business intelligence system may convince organizations to buy business intelligence tools, there are a few things to consider before boarding it. Follow the below section for the same.
Things to Consider Before Buying a Business Intelligence Software
- Evaluate Software Need: Evaluate the software capacity before finalizing the BI software. The user must see whether the software fulfills the business requirement and find out whether the software can really help to solve the problem.
- Support multiple data sources: The top business intelligence software should support multiple data sources; since the modern business operates on a wide scale, the data may be scattered on multiple platforms and databases. It should be able to fetch data from anywhere and in any format.
- BI Software Costs: Analyze the BI software costs from all angles like setup cost, technical support, and training, hiring experts, hidden charges, and software upgrades.
- Integration: While performing business intelligence tools comparison, it is essential the business owner verifies the integration capabilities of the business intelligence tools.
- Usability: Some business intelligence software requires an instruction or training program for its successful transition into companies’ infrastructure. If the software does not gel well with the current working system or requires additional training, then it needs to get configured.
- Support Collaboration Tools: The BI software must support collaboration features like the ability to share insights, share reports, comments, and collect feedback.
- Customization: Customization is an important factor for BI software, and it should allow business owners to configure the software as per their needs. The best BI vendors generally provide customization options to their software users.
- Role-based access: The BI software could be valuable assets for decision-makers, and there are many people in the organization that may need access to the BI software. The BI software should have features to control the software access.
- Real-time BI: Most of the business executives and stakeholders are keen on real-time information. Real-time BI software enables users to stay abreast of the competitor’s activities and market trends.
- Responsive and user-friendly interface: If the user interface is complex, the money invested after BI software could be a complete waste. The user interface of the BI software should be easy to comprehend and must support all devices.
- Deployment options: The BI software should allow users to choose the deployment option. The users with dedicated IT teams may prefer on-premise software deployment, but with rising cloud technology trends, the user can switch to cloud infrastructure.
- Scalability: The BI software should be scalable, and it should easily adjust itself to the growing needs of the business. It is always recommended that when a business executive or manager is scrutinizing the business intelligence software list, they should always take scalability into consideration.
- Technical support: Not all business intelligence software requires technical support, but if the BI software deployment is done for a large enterprise, then it may need technical support. Technical glitch is quite common in large enterprises dealing with a huge amount of data, so it is necessary that the best bi companies deliver robust technical support.
- Powerful reporting capabilities: The goal of BI software is to produce sensible reports that give a clear understanding of business activities. The BI software lacking in powerful reporting features may fail to communicate the business insights to decision-makers.
These factors can help business executives to select the top business intelligence tools; however, they can also shortlist the tool by comparing the features, deployment options, costs, and other factors.
Time-Saving Features of Business Intelligence Software
- Ad-Hoc reports
- Advanced security
- Executive dashboard
- Mobile access
- Ranking report (Pivot tables)
- Built-in ETL
- White labeling
- Intelligent alerts
- Multi-tenant security
- Geospatial mapping
- What-if analysis
- Seamless data and application importing
- Collaboration tools
- Predictive models
Emerging Trends in Business Intelligence Software
- Voice-activated assistants: Voice-enabled business intelligence makes it easier to collect insights, reports, and dashboards. It has created a curiosity among BI experts about transcribing voice assistant data into an intelligent report. It has the capacity to reinvent the data-analysis process by eliminating the traditional approach and reduces the time to generate business insights.
- Data discovery: With data discovery, it is easy to find specific patterns and trends in a data-sets. With the advanced data visualization tools interlaced with features like heatmaps, geographical maps, and pivot tables, the data discovery becomes even more informative. There is an evolving trend in data discovery referred to as “smart discovery” or “Augmented intelligence.” It facilitates the AI capabilities to find the trend and relation in data, which helps to speed up the decision making process.
- AI and NLP: It is fascinating that computers/ voice assistants have started decoding human language and responding to queries with high accuracy. It is because of AI and NLP. NLP is one of the most intriguing aspects of artificial intelligence, and it has a wide scope in Business Intelligence. The NLP technology enables even a non-techie executive to analyze data without any support from any IT experts. .
- Data governance: Data governance basically defines the process of maintaining regulatory compliances and policies for managing data assets across the organization. In the coming years, data governance would become the top priority for all types of organizations. The data governance will ensure that data is acquired from the approved sources, processed for the defined purpose, shared among authorized personnel, and discarded as per the norm.
- Collaborative business intelligence: Collaborative BI is about bringing subject matter experts and stakeholders together to make better decisions. By merging BI software with collaboration tools, including web 2.0 and social media, the business team can share their view or responses online. By documenting those communications, it would be easier for an organization to make a faster decision. In the future, the collaborative business intelligence tool will envelop more number of users and communication platforms.
- Self-service BI interfaces: Self-service BI interface is rapidly getting its hold in Business Intelligence Solution. Today, the best business intelligence companies have introduced the self-service version, and in the future, there will be more efforts to make BI software completely self-reliant.
- Predictive analytics: Most of the BI software uses historical and real-time data to identify trends and answer questions related to what has happened and does not tell why something happened. With predictive analytics, BI tools can predict future outcomes. Generally, the BI tools do not always provide predictive analytics functionality, but in the coming days, they would be capable of predicting well in advance.
- Better, faster, and cheaper: The amalgamation of cloud computing, artificial intelligence, and big data with the top business intelligence tools is going to become better, faster, and cheaper. By implementing cloud computing, users can reduce infrastructure costs as well as improve data storage efficiency. On the other hand, artificial intelligence and the neural network will ensure the data fetching process, and data visualization process to get quicker and easier.
In a few years' time, several related advanced technologies would allow users to truly discover the benefits of a business intelligence system.
How to Implement BI Software Successfully?
Step 1) Identify Requirements: The best BI software vendors today have the flexibility to customize their offerings to the users. But, still, prospective buyers should figure out the existing business requirements and match their requirements with the business intelligence tools list.
Step 2) Make Raw Data Available: Make sure all the raw data are available, and define the strategy on how to import raw data into the BI software.
Step 3) Shortlist BI Vendors: Once the organization has completed all the basic BI software implementation process, they can shortlist the business intelligence tools and hire the best BI solution provider. The software buyer should compare the business intelligence software list on parameters like customer support, secure integration, database support, training programs, etc.
Step 4) Implement software and team members training: The next step is to implement top business intelligence tools into the business infrastructure and see whether the team members require any training for it.
Step 5) Monitor the software performance: The business executives or managers should monitor the performance of the software. They need to see whether the software behaves as expected and if not, then does it allow them to make some changes to measure particular performance metrics.
What Is the Average Cost of Business Intelligence Software?
The business intelligence software list is very broad and versatile in its offerings. The price may vary based on the software capabilities and features. The price of the software could be as low as $3/month or may raise upto $1000/month or even more.
Business Intelligence Tools For Start-ups or Beginners: The startups or budding entrepreneurs working with minimum risks and budget can opt for low-cost software. Few options for such business intelligence solutions are Lumenore that comes with a starting price of $2.49/month, BusinessQ with a starting price of €2.0/month. Both tools offer a free trial.
Business Intelligence Tools for Mid-Size and Large Enterprises: For organizations that want to churn out in-depth information from the most unstructured data source, then mid-size and large enterprise business intelligence tools are highly recommended. Mid-range tools like Zoho Analytics with a starting price of $23/month and Redash with $49/month are good alternatives. Both the business intelligence solution providers offer a free trial, and users can upgrade their plan as they grow with their business and data volumes. Some best BI tools that fall in the same category include DataHero, flex.bi, and DyntellBi. In case if the business owners are more inclined towards advanced features like inspecting customer’s individual behavior or discovering data patterns with a machine learning algorithm, a tool like Kubit with a basic price of $999/month is a perfect solution. The price range may exceed $7999/month as per the user’s requirements The other premium range business intelligence solution providers include Trevor.io with a starting price of $270/month, whose price may exceed depending on the types of database (Snowflake, Redshift, MySQL) and data rows to export. The tool also provides a free trial version. The best BItools that offer similar services include SharePoint Vitals, Planhat, and illuminis. The business intelligence tools list can go endless, and it all boils down to business priorities.
There are business owners that see plenty of opportunity in business intelligence tools and put their efforts in developing new features through free and open source business intelligence software. Here is the list of some best free and open source business intelligence software that can further enhance the organization's efficiency by their exceptional features.
Why Refer to Goodfirms' List of Best Business Intelligence Software?
GoodFirms is a prominent review and rating platform for IT solutions. It has been listing various software products from different sectors to help consumers choose the right software for their organization and fine-tune the business processes. With more than 60000 services and software companies listed on the platform, it makes it easy for consumers to compare software on various parameters and select the software that fits into their budget and requirements.
The companies realizing the role of data in accelerating business growth are actively adopting data intelligence technology and software in their infrastructure. It helps them to tackle complex problems by making smart decisions. Since there are tons of business intelligence software available in the market, it is challenging to pick the best Business Intelligence Software. GoodFirms is here to help you in this task. Do not miss to check the list of best Business Intelligence Software to empower your business with the most insightful data.