Do you want to implement a business intelligence tool in the organization? Here we have got good news for you. There are ample different business intelligence tools available in the market that can be used by the business. Business intelligence or BI tools help you in understanding insights and trends to make strategic and tactical decisions for the business. BI tools also help to identify the business patterns of the business data.
But, have you thought about how to identify the best business intelligence tool to run your business effectively? And what are the tools that can help you achieve your online business goals? Multiple small and medium-sized business organizations are out in search of the solution. Many businesses are going towards the BI bandwagon as the usage of big data is rising continuously. According to Mordor Intelligence, the business intelligence industry will reach USD 40.50 billion by 2026.
In this blog, we have discussed business intelligence and its effects on the business. Also, here you will know about some BI tools that can be implemented effectively.
What is Business Intelligence?
- Business Intelligence is software that gives support to the decision-making process by business managers and analysts. It can be defined as a method to analyze and process a huge amount of data and convert it into useful information to maintain the profitable decisions of the company.
- It includes data models, business models, and ETL tools to transform and organize the data into necessary business information and involves terms such as data warehouse, data mining, and big data.
Impact of Business Intelligence
Business Intelligence is essential for the business organization in many ways such as-
- Enhance the productivity of the business.
- Get proper insights into customers.
- Reduce data manipulation time.
- Provides a solution for business complexities.
- Align business activities as per the company’s techniques.
Best Business Intelligence Tools
Business Intelligence or BI tools are application software that reads and processes the data that is stored in the data warehouse. BI tools are necessary to analyze, retrieve, and transform data using a dashboard. After this process a report is generated for proper business intelligence.
Let us look and know about the leading business intelligence tools that an organization can use to bring success.
Business Intelligence Tools for Enterprise
1. Zoho Analytics
Zoho Analytics is a self-service business intelligence tool and analytics platform that develops dashboard insights and analyzes any type of data. It uses AI-powered assistance that lets the users ask any question and get intelligent answers in the form of reports. It also provides smart forecasting and data alerts using ML, AI, and NLP technology.
Zoho Analytics Features
- White label solutions are used for embedded analytics and BI analytical portals.
- More than 100 readymade connectors for business applications, databases, and cloud drives.
- Business analytics to analyze data from several business applications.
- The BI tool is available for both on-cloud versions and on-premise. It can also be deployed on Google Cloud, AWS, and Microsoft Azure.
Integration.io is a cloud-based solution as well as a data integration platform that brings all the data sources together. It provides a great solution for marketing to enrich the data. Various data enrichment tools can be integrated using the Integrated.io business intelligence tool. The marketing automation is kept updated using the BI tool.
- Build a complete Sales Analytics solution.
- Provides Omnichannel marketing and data-driven insights.
- Develops effective marketing campaigns.
- Using a sales solution, the BI tool provides the features to enrich the data, create a centralized database, and build effective analytics.
- Solution for several customer support analytics that provides insights into customized business support solutions.
3. Oracle NetSuite
Oracle NetSuite is business management software that provides solutions for small, medium, and large enterprises. It works on various functionalities that help organizations all over the world with their industry, regulatory, tax, and industry requirements.
Oracle NetSuite Features
- It offers scalable and agile business solutions to small businesses that involve features such as CRM, ERP, PSA, and E-commerce.
- Reduce IT costs by half for medium-sized businesses and improve quote to cash cycle times by almost 50%.
- Oracle NetSuite also reduces the financial close times from 20% to 50%.
Hubspot is an inbound sales, marketing, and service software that helps in organizing, tracking, and building better relationships with customers and leads. The marketing Hubspot software helps in completing the marketing campaigns at a large scale.
- Provides a flexible and top-quality content management system that helps the marketers and developers to offer the best services to the company.
- The sales software of Hubspot is used to offer deep insights into prospects and allow the business to automate new tasks.
5. SAP Business Objects
SAP business objects BI tool provides reporting, analysis, and interactive data visualization to the users. The tool focuses on the top business categories such as CRM, customer experience, ERP, supply chain, and others. SAP is a robust software tool that works for all niches such as management, end users, and IT.
SAP Business Objects Features
- Offer a self-service, role-based dashboard that lets the users build their applications.
- The products available on the platform drive up the price and are very well prepared for that.
6. Query. me
Query. me is a business intelligence tool that brings SQO teams to the future using powerful notebooks that are customized to deliver insights rather than messy dashboards. The Query. me brings the entire BI team on the same page saving countless hours of the business by developing and sending back the reports.
The BI team can also comment, collaborate, and share information from the desired location. Query. me is the one-stop solution for SQL teams to set up their work using a tool that works together with the entire team without relying on the web developers for help.
Query. me Features
- Offers Jinja support.
- Gives an array of growing block types that allow customization and options for analysis.
- Provides automated reporting.
- Attractive and powerful SQL notebooks
7. SAS BI tool
SAS is a business intelligence tool that is known for providing people with the right information at the right time to the right people. A high-quality connection is built amongst several data sources and end users with the SAS BI tool.
It allows the users to leverage metrics and data to make essential decisions related to the business. The set of APIs provided by the SAS tool assures a high level of data integration and advanced reporting.
SAS BI Features
- Offers great analytics to give more context insights into the data.
- Protects the data of the business with security issue resolution and identification.
- Deliver real-time analysis and let the users build self-service reporting.
Tableau is one of the leading business intelligence tools that are available in the online market today. Organizations of various sizes use the Tableau tool to make necessary decisions and improve overall organizational performance.
The tool is best suited for data discovery and data visualization that helps in understanding complex data and embedding data analytics with the products.
- Offers an intuitive and user-friendly user interface to help the data scientists analyze and access the data, develop reports, and share insights of the organization.
- Understand and explore data in the real-time world using live charts that provide rich-data visual patterns.
- Helps in customizing, designing, and publishing optimized dashboards for mobile phones, desktops, and tablets.
Domo is a cloud-based business intelligence tool to convert raw data into actionable data and business applications. The tool delivers personalized business solutions based on several roles of the company such as marketing, sales, IT, finance, CEO, and many more. Domo offers multiple data connectors to several social media platforms such as Facebook, Twitter, Zendesk, Excel, Google Sheets, and many more.
- Handles an organizational-wide range of data and provides a drag-and-drop interface feature for non-technical users.
- The built-in tools and data pipelines of the Domo tool help you visualize the data flow of the business and load data in Domo.
- Provides ample pre-built connector APIs and apps to develop customized applications for the business.
MicroStrategy is a business intelligence tool that provides high-speed and powerful data analytics, cloud solutions, dashboarding, and hyperintelligence. Using the BI tool, the users can easily identify the trends, recognize new opportunities, and improve business productivity. Users can also get connected to one or various sources whether the data is cloud-based or enterprise data.
- Supports data visualization and mining for web-based deployment.
- Free proprietary tool that offers data-driven for every business question.
- Includes functionalities and functions for multiple applications and turns information into reports.
- The desktop version of the tool is free and the enterprise version is priced to use cloud-based deployment.
How are business intelligence tools different from data analytics tools?
Business intelligence involves data analytics and several reporting features of the business. The tools help the business owners to make decisions using historical data of the company. Business Intelligence tools are fully equipped with modern technologies that reduce the complexity of business intelligence and prepare, analyze, and share data using several sources.
On the other hand, data analytics tools focus on adding algorithms to maintain the relationship between multiple data sets. It also offers predictive capabilities to the business. And, business intelligence makes informed decisions according to past data.
Features required in Business Intelligence Tools
Here are some features that one should look for in a business intelligence tool are-
1. Open Integration
The BI tool should fetch data from various sources such as websites, e-mails, social media platforms, and many more.
2. Ranking Reports
The feature can help the business owner to identify what is working and what is not for the organization. It also helps in analyzing the ranking of the business through different dimensions and focuses on specific areas.
3. Interactive Reports
Business intelligence tools condense and analyze data in an understandable form. These interactive reports are also used to know about outliers, anomalies, and trends in the historical business data.
4. Geospatial Mapping
Business intelligence tools help in transforming the data into a graphical and cartographic representation. The simplified data laid out using Geospatial mapping helps non-technical people to understand everything easily.
These are our picks for the leading business intelligence tools to try in 2022. With the big data analytics market to reach $103 billion by 2023, it is essential to start adding the power of advanced analytics and cloud data. All these business intelligence tools provide easy-to-install business intelligence functionalities ranging from data reporting, augmentation, visualization, and others. Each tool has its unique selling features.
For instance- Domo is the best for large business enterprises that require reporting capabilities. On the other hand, Tableau offers a user-friendly interface to the customers and enhances sales for the e-commerce business organization.
Of these entire top ten business intelligence tools, our top pick is Zoho Analytics which offers the clients an option to ask any question and get intelligent answers to it in the form of reports. The business intelligence tool also provides data alerts and smart forecasting using technologies such as AI and ML.
If you are not sure about choosing the e-commerce business intelligence tool that is perfect for the business, then reach out to Indglobal. We have expertise in providing customized e-commerce website development company in Bangalore according to customer needs. We also offer the best consultation to our clients about adding high-quality and scalable business intelligence tools in the e-commerce store and implementing them to get the desired business results.