Keeping all company operations under control becomes more difficult with each passing year, as vast amounts of data are created, posing a challenge to firms of all kinds. Finally, organizations and businesses require assistance when it comes to making long-term and lucrative decisions. Any business user using current and professional business intelligence software or BI tools may solve each difficulty quickly, without the requirement for extensive IT participation.
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These technologies can gather, analyze, monitor, and forecast future business scenarios by providing a clear view of all the data an organization controls. Identifying patterns, enabling self-service analytics, utilizing sophisticated visualizations, and providing professional BI dashboards are quickly becoming the norm in corporate operations, strategy development, and, ultimately, critical instruments for profit growth. Not only that, but the self-service aspect of these solutions allows all levels of users to access every feature we just described, without the need for any technical skills or specialized training. As a result, they are the ideal answer for democratizing data analysis and improving corporate performance.
This article will overview software for business intelligence and describe the top 22 business intelligence software tools in 2023, ideally putting you on the right track to choose the right tool for your business.
What is business intelligence software?
Business intelligence software tools are software applications that gather, process, analyze, and visualize enormous amounts of data from the past, present, and future in order to provide actionable business insights, create interactive reports, and streamline decision-making processes.
Key elements of BI business intelligence software include data visualization, visual analytics, interactive dashboarding, and KPI scorecards. Furthermore, they enable consumers to employ automated self-service reporting and predictive analytics capabilities, all in one package, making the analysis process quick and accessible.
But what really are the advantages of modern BI software, and what do they provide that traditional data management methods do not? Everything begins with technology.
The advantages of business intelligence software
Professional business intelligence program provides several significant benefits; we will focus on the most important ones here:
1. They bring together all relevant data
Whether you operate in a small or large firm, you most likely collect data from a variety of portals, ERPs, CRMs, flat files, databases, APIs, and other sources. To handle all of these sources and gain a deeper understanding of the acquired data, you must build a high degree of data intelligence. As a result, using current data connections will assist you in centralizing different sources and providing you with a unified picture of all your business activities. Identifying concerns, trends, doing cross-analysis, and taking action are all linked and dependent only on data in this manner.
2. Their true self-service analytics approaches unlock data access
When every employee in the firm is equipped with current business intelligence software that allows them to examine data on their own, the need to seek reports from the IT department is much reduced. This self-service BI approach provides organizations with a competitive advantage because each employee will be equipped with the appropriate amount of data analytics skills, ultimately saving the company’s time and resources while relieving the IT department, and allowing them to focus on other critical tasks.
3. Users can take advantage of predictions
Predictive analytics does not have to be limited to data scientists or analysts. With the integration of prediction engines, business users of any level of experience can readily obtain insights for future situations, allowing them to alter existing plans to provide the best outcomes possible. If, on the other hand, a business situation changes, intelligent data alerts driven by artificial intelligence protect against anomalies that can arise while managing massive volumes of data, and identify new trends and patterns that will allow you to respond promptly. This level of technology enables you to reduce manual labor and automate procedures to free up time for other responsibilities.
4. They eliminate manual tasks
While conventional corporate management methods encourage the use of spreadsheets and static presentations, contemporary software removes limitless amounts of rows and columns and allows for process automation. Do you require a report? The program automatically refreshes your KPI dashboard with real-time data. Furthermore, you may automate the reporting process by business intelligence reporting tools with predefined time intervals and just examine the findings. Do you require a presentation? Simply drag and drop your numbers to discover how simple it is to create a sophisticated interactive dashboard that allows you to directly interact with your data on a single page. We’re saying goodbye to endless PowerPoint presentations and hello to a far more natural approach to data analysis.
5. They reduce business costs
Business intelligence tools and techniques provide speedier planning, analysis, and reporting processes across the board, from sales planning and customer behavior analysis to real-time process monitoring and offer optimization. Indeed, according to a BI survey, more than half of business intelligence users said that these are the most significant benefits that helped businesses decrease expenses and improve revenues. You may obtain considerably better business results and make lucrative modifications if you can work quickly and precisely.
6. They’re constantly at your service, 24/7/365
Different organizations have different demands, and the Software-as-a-Service model provided by these technologies will deliver a complete SaaS BI experience, with all data kept in a secure online environment. The software may grow or de-scale based on your requirements, allowing it to adapt to the individual demands of a business. Because the data is kept in the cloud, you have continuous access to the program and may fully explore numerous self-service analytics capabilities regardless of whether you are a manager, data scientist, analyst, or consultant. All you need is a browser and an internet connection to access your data from any smart device.
7. They provide a competitive advantage
Businesses who can use the vast volumes of data they generate to their advantage might significantly differentiate themselves from rivals. BI solutions provide the knowledge and functionality required to successfully handle corporate data in a way that promotes productivity and growth. Working with the proper business intelligence software provides organizations of all sizes with the ability to make educated strategic choices.
These advantages of business intelligence software apply to both small and large businesses. If you need to govern your data and understand what’s going on in your business, BI is the way to go. To assist you, we have compiled a list of the top business intelligence tools, which will not only ensure that your data management and discovery become simple and easy to use but will also keep you secure and guarantee a greater level of productivity, and hence improved profitability.
Top business intelligence software for your company
1. SAP Business Objects
SAP Business Objects is a business intelligence application that provides extensive reporting, analysis, and interactive data visualization. The platform focuses mainly on Customer Experience (CX) and CRM, digital supply chain, ERP, and other areas. What’s particularly appealing about this platform is the self-service, role-based dashboards it provides, which allow users to create their own dashboards and apps. SAP is a sophisticated program designed for all roles (IT, end users, and management) that provides a plethora of features on a single platform. However, the product’s intricacy raises the price, so be prepared for that.
Datapine is considered the best business intelligence software. It is a comprehensive business intelligence software that makes the complicated process of data analytics accessible to non-technical individuals. Datapine’s solution enables data analysts and business users alike to effortlessly connect diverse data sources, execute complex data analysis, construct interactive business dashboards, and provide actionable business insights thanks to a full self-service analytics strategy.
MicroStrategy is a business intelligence platform for enterprises that provides strong (and fast) dashboarding and data analytics, cloud solutions, and hyperintelligence. Users may use this solution to analyze patterns, recognize new possibilities, increase productivity, and more. Users may also connect to one or more sources, whether the data is coming from a spreadsheet, the cloud, or business data tools. It may be viewed by PC or mobile. However, to get started, several parties and thorough expertise of the application are required.
4. SAS Business Intelligence
While SAS’ most popular service is powerful predictive analytics, the company also offers fantastic business intelligence software. This well-established self-service technology, which was launched in the 1970s, enables users to make educated business decisions by using data and analytics. SAS provides users with a plethora of customization choices via their API set, and SAS assures high-level data integration as well as comprehensive analytics and reporting. They also offer a fantastic text analytics option that will provide you with more contextual insights into your data.
5. Yellowfin BI
Yellowfin BI is a popular business intelligence software and analytics platform that blends visualization, machine learning, and collaboration. You may also simply sift through large amounts of data using easy filters (e.g., checkboxes and radio buttons), as well as open dashboards from almost anywhere (due to the tool’s accessibility flexibility) (mobile, webpage, etc.). The wonderful thing about this BI solution is utilizing a no code/low code development environment, you can simply take dashboards and visualizations to the next level.
QlikSense, a Qlik product, is a comprehensive data analytics platform and business intelligence tool. QlikSense may be accessed from any device at any time. QlikSense’s user interface is optimized for touchscreen use, making it a popular BI tool. Its unique associative analytics engine, advanced AI, and high performance cloud platform make it even more appealing. This platform’s Search & Conversational Analytics function is intriguing since it allows a faster and easier method to ask inquiries and uncover new insights using natural language.
7. Zoho Analytics
Zoho Analytics is a top business intelligence software for detailed reporting and data analysis. This business intelligence solution supports automated data synchronization and may be scheduled regularly. Using the integration APIs, you can quickly create a connection. Create relevant reports by blending and merging data from many sources. You may dig into the crucial information by creating customized reports and dashboards with a simple editor. It also has a distinct comments box in the sharing choices, which is ideal for cooperation.
Sisense is an easy-to-use data analytics and business intelligence software that enables everyone in your organization to handle huge and complicated datasets, as well as analyze and visualize this data without involving your IT staff. It also allows you to combine data from some sources, such as Adwords, Google Analytics, and Salesforce. Not to mention that, because it employs in-chip technology, data is handled faster than with conventional instruments. Various industry experts, including Gartner, G2, and Dresner, have recognized this platform as a premier cloud analytics platform.
9. Microsoft Power BI
Microsoft Power BI is a business analytics tool package that is web-based and excels in data visualization. It enables users to discover patterns in real time and includes fresh new connections that allow you to step up your advertising game. Microsoft Power BI is accessible from virtually any location because it is web-based. Users may also use this software to integrate their apps and give reports and real-time dashboards.
Looker, a data discovery software, is another business intelligence software to keep an eye out for! This innovative platform, which is now part of Google Cloud, interacts with any SQL database or warehouse and is ideal for startups, medium enterprises, and enterprise-grade businesses. This tool’s advantages include its simplicity of use, useful visualizations, effective collaboration tools (data and reports can be shared through email or USL, as well as connected with other apps), and dependable support (tech team).
11. Clear Analytics
This is for all of you Excel fans out there… This free business intelligence software is an easy-to-use Excel-based program that may be utilized by staff with only basic Excel skills. What you receive is a self-service Business Intelligence solution with BI capabilities including data creation, automation, analysis, and visualization. This solution also works with the previously stated Microsoft Power BI, cleaning and modeling various datasets with Power Query and Power Pivot.
Tableau is a business intelligence software that specializes in data discovery and visualization. The program allows you to effortlessly analyze, visualize, and exchange data without the need for IT intervention. Tableau works with a variety of data sources, including Microsoft Excel, Oracle, MS SQL, Google Analytics, and SalesForce. Users will have access to well-designed, user-friendly dashboards. Tableau also provides some independent solutions, including Tableau Desktop (for everyone) and Tableau Server (analytics for organizations), both of which may be operated locally, as well as Tableau Online (hosted analytics for organizations) and others.
13. Oracle BI
Oracle BI is an enterprise portfolio of business intelligence technologies and applications. This business intelligence software provides customers with virtually all business intelligence features, including dashboards, proactive intelligence, ad hoc reporting, and more. Oracle is also an excellent choice for businesses that need to analyze massive amounts of data (from both Oracle and non-Oracle sources) since it is a very resilient solution. Data archiving, versioning, a self-service portal, and alerts/notifications are other significant aspects.
Domo is a fully cloud-based corporate intelligence tool that combines data from spreadsheets, databases, and social media. Domo is utilized by both small businesses and huge global corporations. The platform provides visibility and analysis at the micro and macro levels (including predictive analysis powered by Mr. Roboto, their AI engine). From cash balances and lists of your best-selling items by area to marketing ROI estimates for each channel, we’ve got you covered. Domo’s primary drawbacks are the difficulties in obtaining cloud analytics for personal use and the high learning curve.
15. IBM Cognos Analytics
Cognos Analytics is a business intelligence platform powered by AI that supports the whole analytics cycle. From data discovery through data operationalization, you can visualize, analyze, and share actionable insights with your colleagues. Because the data is analyzed and presented to you in a visually appealing report, AI allows you to identify hidden patterns. However, keep in mind that it may take some time to become acquainted with all of the capabilities available in this solution.
16. Infor Birst
Infor Birst is a cloud-based analytics and business intelligence software that aids in the comprehension and optimization of complicated analytical processes. Birst was bought by Infor, a multinational firm with a diverse array of software solutions for various sectors, in 2017. Infor Birst is now a sophisticated end-to-end solution that includes a data warehouse, visualization, and reporting platform, and a networked BI approach based on considerable automation and learning technologies. Customers gave the BI vendor’s product 4.1 stars on Capterra and 3.9 stars on G2Crowd.
Pentaho is a Hitachi Vantara end-to-end data integration and analytics platform that includes OLAP services, reporting, dashboarding, data mining and integration, ETL, and more. With all of these features, some of which are available as open-source plugins, the program intends to assist enterprises in managing large volumes of data in order to favorably affect strategic choices and business outcomes. Pentaho’s BA platform is available in the cloud or on-premises in two flavors: a community version with limited functionality and an annual subscription to a more comprehensive enterprise edition. Pentaho received 4.3 ratings on Capterra and 4.1 stars on G2Crowd, placing it in our BI tools list.
18. Inetsoft Style Intelligence
Style Intelligence, a web-based BI and data intelligence platform owned by InetSoft, is next on our list of BI products. In a protected environment, it offers a variety of self-service analytics tools such as dashboards, visual analytics, and reporting. Style Intelligence is, at its heart, a data mashup engine that provides flexible data transformation from different sources in a straightforward manner without the need for further warehouse investment. The platform is completely scalable and simple to implement, and its straightforward design makes it suitable for both companies and solution providers, as well as technical and non-technical individuals. The tool received 4.5-star evaluations from Capterra and G2Crowd users.
19. Dundas BI
The following product in our list is Dundas BI, a business intelligence software that has been on the market since 1992 and has gained significant traction over the years. The platform’s traditional BI features, such as interactive dashboards, reports, visual analysis, and embedding, were recently acquired by insight software in August 2022, and are now complemented by a strong ETL engine and pixel-perfect reporting capabilities, with an overall focus on embedding analytics. This tool received 4.5 ratings on Capterra and 4.4 stars on G2Crowd from loyal users.
GoodData is a business analytics platform that includes tools for data intake, storage, analytic queries, visualizations, and application integration. According to their website, you may incorporate their analytics into your website, desktop, or mobile application, or generate dashboards and reports for your daily operations without needing a Ph.D. In addition, GoodData, one of the more recent software solutions on our list, scored a consistent 4.3 rating on Capterra along with a 4.1 on G2Crowd, putting them as one of the best tools for company management.
Metabase is an open-source business intelligence software server that is simple to set up and connect with a variety of data sources such as MySQL, PostgreSQL, MongoDB, and others. Users of the tool are anticipated to extract relevant insights from their data in a safe environment with a simple interface, without the need for substantial technical knowledge. These insights may then be shared with colleagues or other relevant stakeholders in the form of visually appealing graphs and dashboards that will improve decision-making and data utilization across the organization. The program, which comes in both a free open-source and a premium business edition, gets 4.5 ratings on Capterra and 4.4 stars on G2Crowd.
Last but not least on our list of business intelligence tools is Board. Board is a Swiss business intelligence software tool that was developed in 1994 as a platform for decision-making, company planning, and performance tracking. It has 4.5 ratings on Capterra and 4.4 on G2Crowd. Board is an easy data analytics solution that combines a self-service approach with enterprise-wide data governance to construct interactive dashboards, execute effective analyses, and generate compelling reports.
Big data is all around us, and it is growing by the year. With the multiple capabilities that business intelligence software and business analytics solutions have to offer, you stand to gain significant benefits – your data management will become more coherent, reliable, agile, and predictable. We sought to assist you in evaluating the top tools on the market, and we hope that we have offered an in-depth assessment of each product that will motivate you to begin investigating business intelligence tools and finding a great fit for your organization or department.