Companies adopt various strategies including Business Intelligence Tools and techniques to stay ahead of competitors and advance in their respective domains. Business intelligence (BI) and BI tools is one such tactic that assists organizations in managing a competitive edge in the market.
BI is a data-driven approach that allows enterprises to employ methods to grow in the industry. For this purpose, several tools and software, mostly known as business intelligence tools, are available online.
This blog will discuss such tools and name the most promising BI tools for business advancement. So let’s get started-
What are business intelligence tools?
BI tools are the applications and software companies often install to identify, extract, process, transform, and store relevant data for business activities. Alongside providing better decision-making abilities, leveraging BI tools can help strategically mitigate the probable risks of managing enterprises.
Data mining, analysis, visualization, reporting, creating dashboards, and predictive analysis are some of the functions BI tools can offer.
Best Business Intelligence Tools for Your Reference
Datapine has an innovative categorization feature that makes its operation easier and wholesome. This application has a user-friendly and self-service model so that non-technical individuals can process it easily. Datapine further creates operational dashboards for efficient usage of multiple source-based data. Its basic subscription starts from $249/month and goes higher as per the facilities individuals choose.
Tableau is one of the best business intelligence tools available in the market. Alongside data mining and visualization, this software offers enhanced collaboration features to make data sharing easier within organizations. Tableau allows users to leverage its standalone features, such as Tableau Desktop and Tableau Server, which offer a dynamic range of business analytics solutions. Its basic plan starts from $15 per month for single-user usage.
Yellowfin BI tool comes with end-to-end analytics capabilities. Moreover, it uses machine learning (ML) for data visualization and offers effective collaborations within an organization. This BI tool is flexible and easy to use, allowing no code/low code development structures in its dashboard. With easy organizational data management, Yellowfin BI is majorly employed for a faster decision-making process. It has a flexible pricing model with no hidden costs.
Domo is one of the business intelligence tools that integrates cloud-based facilities. Like other BI applications, it depends on multiple sources, such as social media, spreadsheets, etc., to extract data. This tool provides high-speed resolution along with quality data. Domo offers an effectual interface that is convenient for users to process. There is a free plan for Domo offering self-service. However, its standard plans start from $300 monthly.
MicroStrategy is one of the strongest bi platforms that offers high-speed data analytics, boosting the business efficiency of organizations. It has a standard access control structure that maintains the privacy of data. Moreover, it leverages AI and ML technologies to analyze data and track activities. MicroStrategy follows a pricing structure of a one-time payment of $600.00 per user with a free trial.
This business intelligence software provides thorough data analysis and reporting that fast forwards business operations. With its feature of automatic data syncing, Zoho Analytics can extract, manage, analyze, and merge information from different sources simultaneously. Its pricing range starts from $15 per month and can go up to $239 for Elite users.
Business intelligence tools are determined to refine business operations with in-depth data analysis. With such tools, companies can identify new opportunities and detect risks in their industry. These tools and gradually upgrading their capabilities with AI integration. Alongside real-time data availability, BI tools can also offer progress and activity tracking. Allowing to gain better ROI and competitive advantage are additional advantages of BI software.
The aforementioned tools are the most popular business intelligence software available online. Companies employ these tools to strengthen their data management and advance business activities. Read our blogs to attain more knowledge on different tools for organizational progression.