Firstly, one should know “What is a Business Intelligence Software”
A BI software is a kind of tool that helps convert raw, or unrefined data, to get meaningful & insightful information which can be used for business analysis. And BI tool is a decision support software that helps organizations capture, organize and analyze organizational data to make better decisions. The data could include internal data from company departments and data from external sources, such as marketing data services, social media channels or even macroeconomic information. The software provides essential insights to help businesses grow by giving information they need about product, sales, and customer behaviour.
Whether you own a small business or you are an analyst, you will need to analyse your data in order to grow and drive your business to its optimum. Turn your data to optimize marketing strategies, predict customer behaviour & analyse key business processes and more. In today’s world a company’s data has become its “lifeblood” and a BI tool will help transform, analyse and give a visualization of the data.
There are numerous such tools in today’s market. Many of them willing to claim the BI label even if it does not quite fit.
Organizations have different wants and requirements and no software platform can be perfect in such a situation. It is pointless to try to find a perfect out-of-the-box software product that fulfills all your business wants. The smart thing to do would be to modify the application for your specific needs, staff member skill levels, budget, and other elements.
For these reasons, we at Statslab, guide you through your journey in search of a competitive, reliable, easy access and easy to use BI tool.
Though these may not be the perfect fit for your specific wants. Do your research, check out each short-listed application in detail, contact the seller for explanations, and finally select the app that offers what you need.
A few such tools are listed below :
Power BI helps you shape your business with just a few clicks. Its an
easy way to connect and transform data, create advanced calculations and build
stunning reports in minutes.
With Power BI service you can view and share dashboards across your
organisation and connect to pre-built reports from experts.
Combine data from various sources ie from web services etc and convert it to vibrant dashboards with the
aid of 20 built-in visuals and custom visualizations.
With Power BI gateways, you can connect SQL server databases, Analysis
Services models and many other data sources to your same dashboards in Power BI.
Cost: Free Power BI Desktop for Windows with
1GB / user
Power BI Pro for $14.90 / user / month with 10GB / user
The Tableau tool has a wide variety of visualizations, extensive supported data types and slick finish. It has intuitive design. The down part of this tool is that the user needs a bit of learning to understand and make use of this tool to its optimum. It is also expensive depending on the version. Although there is a 14-day free trial for a desktop version which will help you decide if its apt for your business needs.
Cost: $999 for personal edition
$1,999 for professional edition
Qlikview is a data discovery product that is used to create guided analytics applications as well as dashboards designed for business challenges. It exposes data that is not revealed with query-based tools. It’s even manageable by a non-technical user.
Cost: Cloud Basic Free
Cloud Plus $20 per month
Cloud Business $25 per month
QlikView Personal Edition Free
Yellowfin BI offers business intelligence tools that are so easy to use, they become universal throughout a company. Yellowfin’s analytics are available in many different flavors – dashboards, data discovery, mobile BI, storyboards, mapping, and collaborative business intelligence – that make it simple to assess, monitor and understand any bit of data related to your business.
- Interactive and intuitive filtering use check boxes, radio buttons and sliders to make it easy to dial-down your data
- Access your dashboards from anywhere: web page, company intranet, wiki, or mobile device
- Share insights via simple scripts that can be uploaded, embedded, or sent to collaborators
Cost: Free Trial; full version starting at $3,000 a year for 5 user
The business intelligence software that allows you to analyse and visualize complex data in a simple drag & drop process. Sisense has been named the Gartner Magic Quadrant for BI & Analytics for 2016.
Allows you to join data from multiple sources with a drag & drop data sources like excel files, google adwords etc.
Analyze with excellent data visualization. Building of interactive dashboards, which do not require technical skills. Followed by fast data query. Refresh your data and have an up-todate dashboards within mins without starting from scratch.
Share interactive dashboards. Sisense dashboards are web-based, so everyone can access, monitor and interact with the same report without downloading files. This feature becomes helpful when there are a number of users and queries involved. It is also mobile user friendly, that means you can take your data everywhere you go.
Cost: Sisense offers unique annual licensing that allows pricing to easily scale with your business.
For businesses that require a full, detailed picture of every company process, SAP NetWeaver BI steps in. This full-function tool is designed to cater to a diverse set of needs, satisfying the requirements of everyone in your organization – IT professionals, senior management, and end users included. The tool’s robust infrastructure hosts wide-ranging functionality in one integrated platform.
- A single, integrated platform pulls together applications and reporting to provide a detailed snapshot of your organization
- Visualization makes it easy to understand your data
- Improve your company’s collective IQ by giving all collaborators insights into data and performance indictors
Cost: Free Trial; contact for pricing
Five steps to select the top business intelligence tools:
Step 1: Define the key bi tool selection criteria, both the user and IT requirements.
Step 2: With a list of questions you need to contact all the vendors to get the answers.
Step 3: Validate and analyze all the information from the Business Intelligence vendors.
Step 4: Make a short list for a proof-of-concept (POC) and perform the POC.
Step 5: Choose the tool / platform that suits your needs and price criteria best.
In Conclusion – a BI software connects people with information when and where they need it, and provides capabilities far beyond spreadsheets to deliver a true picture of the business. For small and midsize firms, however, finding a BI strategy that matches their resources, expertise and budgets can be particularly challenging.
Need more info about the best BI tool for your organisation? Contact us today.