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Business intelligence (BI) software is designed to help businesses organize and analyze data for better decision making. The data is gathered from internal departments and external sources, which includes social networks and marketing data services. BI software comprises reporting tools, data management tools, and data discovery applications. The type of BI tools you need depends on
- data management
- data analysis expectations
If your data is scattered across platforms, you would first want to centralize it. Then you would want to look for data management tools to restructure and organize it. Now you might want to invest in data discovery tools to create custom applications.
When looking for the best BI tools, look for the following features:
- Data quality management
- Data mining
- Predictive analytics
- Semantic and text analytics
- Extract, transform and load
Here are some of the leading BI tools:
Qlikview is a comprehensive business intelligence program that enables businesses close monitoring of data across all activities through data collection & analysis. The program creates apps and visualizations that make data available at your fingertips. Turn your data into insights across different aspects of your business to facilitate better decision making. Since all data is converted into analytics and reports, the application gives you a clear picture of the business.
Cons: Qlikview requires advanced hardware support for fast collection of business data.
- Panorama Precto
The BI 3.0 solution gives you the best tools to discover hidden data. It connects with multiple data sources and accelerates the process of getting insights by reflecting the relevancy of data. The key insights can be used to uncover target audience’s requirements, execute strategy, improve organizational efficiency, make better decisions, extract value from existing customers, and achieve objectives.
Cons: Panorama Precto would be considered a more efficient tool if it has the capability to provide support for linux environment.
- SAP Business Object
Get immediate access to the latest data with the SAP business object program and create reports, use and share information with other users within the company. You can customize dashboards based on specific needs of your business. The BI tool enables you to access the local database and merge the same for better analysis and reporting. The scheduling feature facilitates efficient communication across channels. Access to real-time critical data enables you to make quick decisions. Boost your company’s collective IQ with SAP Business Object and make quicker, more efficient, and informed decisions.
The program simplifies data manipulation, allowing users to access, analyze, and share information across the organization and discover insights to meet challenges and grow your business. With an engaging interface and beautiful visualizations, the software allows you easy access to real-time answers and test out different scenarios.
Cons: The software does not give optimal performance when importing large volume of data.
- Net Suite Analytics
If you are looking for a solution that culd provide you with an accurate view of your real-time business data, NetSuite can come in handy. Get real time business intelligence with NetSuite Analytics. The integrated software solution gives users a real-time view of the company data and deeper insight into state and performance of the business, helping employees improve efficiency and productivity. With NetSuite Analytics dashboard, users can customize reports, add fields, and club data and search through reports to locate specific data. The software also makes information available in a single source while providing real-time transparency into the performance of the company.
Get on-the-go access to your real-time information anytime anywhere, so you are never far from critical data. The program unifies reporting across a range of data sources. Advanced analytics tool provides market intelligence insights and trend analysis and detects performance issues.
Cons: Any problem with the server’s Internet connection could affect the performance of the software solution.
Sisense is one of the best BI tools that helps users select data they want to analyze. It facilitates information collection, organization, and analysis. The data is then used to produce performance reports. With a user-friendly interface and a drag and drop menu, SiSense helps users analyze & evaluate data and convert it into real-time reports, graphs, and analytics. Customize the dashboard to produce relevant reports and improve the efficiency of your business functionalities. The system is ideal for businesses that consume and analyze data in bulk, without having any experience in data crunch.
Cons: The system would become even more efficient with predictive analytics functionality, which it lacks at present.
When looking for the best BI software, get in touch with ITQlick. With a decade-long experience in the IT industry, our experts can make top 5 software recommendations that fit the exact needs of your business.