With an exponential rise of data growing continuously every day, companies are finding it hard to extract information from the data to plan their future business strategies. Data needs to be monitored regularly using the right data management solution to get information related to latest sales trends, customer behavior and product reviews. Business Intelligence is the one solution that can accurately extract reports from data source saving time and efforts in consolidating data manually. As BI tools can produce recent data, it enables managers to monitor data in real-time. Using the real-time reports that can be availed anytime by managers from any place, Business Intelligence Solution can help in reducing the scope of error before the severity increases.
Why Implement Business Intelligence for Your Organization?
Most of the companies are bombarded with ‘data load’ and are continuously looking for ways to derive intelligence from their data. The best idea is to adopt a Business Intelligence strategy that will enable access and analysis of data to improve decisions as well as performance.
Here are some of the benefits that Business Intelligence can deliver to a company-
Better Decision Making
Improved Sales & Marketing
Promote Data Transparency
Optimized Business Processes
Identify Market Trends
Spot Challenges Faster
Top Business Intelligence Solutions
Irrespective of the business size, Business Intelligence Analytics has become a crucial part of the organization for making real-time decisions, identifying risks, giving insights and understanding customers. It is said that Business Intelligence is all about providing the right data at the right time to make accurate decisions by the right people.
Listed below is the leading Business Intelligence Tools used by businesses around the world:
Looker is one of the best Business Intelligence tools that works as a data platform with insights for every single department. With the access on the cloud as well as on-premises platform, it comes with a web-based interface used to exploit the expertise of analytics teams. Even with the little SQL knowledge, one can easily make Looker work for your company to build your analytic modules. This tool can also design visualizations using the single code.
This Business Intelligence platform can simplify every step of the analytics process from preparation of data to the generation of insights. Considered as the top BI tool due to its robust features, Sisense also enables users to join and analyze the information they need to make intelligent decisions. It is mainly recommended for users that have no/little experience with data crunching process.
Known as the self-service Business Intelligence Tool, it is a powerful cloud-based OS that helps businesses to find solutions that can resolve the toughest business challenges. As a platform that can run your entire business, Domo helps in providing the decision-makers the real-time access to the data using a single dashboard.
This tool can import data and provide visualizations without the need of any special software knowledge. Tableau also comes with the mobile app that helps users to complete tasks from anywhere using its simple drag and drop interface. It can also work with many data sources like MS Excel to carry out a real-time data analysis. One company that uses Tableau is Coca-Cola.
Microsoft Power BI
It analyzes data to come up with valuable insights by converting data to interesting visualizations, which will take the main role in making decisions for the business. It can be accessed from any device and support several customizable visualizations. Using Power BI, data can be present in all types of charts such as Bubbles, Tornado Charts, etc.
This BI Tool has three different versions: Qlik Sense Desktop (Free Windows-based application to generate personalized reports), Qlik Sense Enterprise (mainly used for organizational purposes) and Qlik Sense Cloud (a Cloud-based app that maintains data relationship using in-memory indexing). Another one is QlikView Analysis, we can monitor/analyze tweet traffic and sentiments expressed by users in social media like Twitter.
More than just a decision support system, Business Intelligence has the potential to transform companies by giving them a clear idea of how well they are running to meet their specific business objectives. Putting customers at the heart of the business is what every company does, and Business Intelligence helps in serving customers better by tracking customer knowledge to deliver detailed insights based on their behaviors. It has already become crucial for businesses to take help of data analytics to extract insights from big data. If your company hasn’t started implementing Business Intelligence, it’s time to start using one and make all decisions aligned with business goals.