Software Tools

Top 5 Business Intelligence Tools

Business Intelligence (BI) is a term that refers to the gathering, presentation, and analysis of data for the purpose of improving business decisions and creating better strategies. This is mainly achieved by using several technical tools specially available for this purpose. Such tools are essentially data-driven and ones that provide a decision support system to help businesses make important decisions. It is quite common for companies to implement many different types of BI techniques. Some of the popular BI techniques are as mentioned here:

  • Analytics
  • Predictive Modeling
  • OLAP
  • Data Mining
  • Model Visualization

This article goes on to describe the importance of Business Intelligence tools and lists the top 5 tools useful for businesses.

What are Business Intelligence Tools?

A BI tool is essentially a software with many vital features that help businesses gain an insight into their business domain. It helps them understand the current trends, analyze the data at hand, and make tactical and strategic business decisions. Some of the common features of this type of tool includes visualization, reporting, predictive analysis, data mining, OLAP, drill-down, and many more.

Business Intelligence tools are essential for any business for them to remain competitive by analyzing the market data and creating the best possible strategy for their business. These tools also help visualize the data and put it into perspective.

Top 5 Business Intelligence Tools

  1. SAP: SAP is a BI tool with many advanced features like real-time BI predictive analysis, machine learning, and more. This is one of the best tools for the purpose of business planning and analysis. This is a robust software that is useful for management and IT divisions of a firm to help visualize & analyze large amounts of data.
  2. IBM Cognos Analytics: This is an AI-fueled BI platform that supports the full analytics cycle; This tool helps visualize, analyze, and present vital insight based on the data available. It is also the best tool for a firm to take advantage of AI for the purpose of creating a business strategy and discovering hidden patterns and schemes. Cognos Analytics helps with the process of analyzing, interpreting, presenting, and taking action on data.
  3. Microsoft Power BI: This is a web-based tool that offers excellent data visualization and allows a business to identify current business trends in real-time. It allows users to integrate their apps and provide detailed reports; the added advantage is that it is accessible from any location.
  4. Oracle BI: This is an enterprise-level software, that is also a business intelligence tool. It is a feature-rich tool that offers all businesses with an extensive list of capabilities including dynamic dashboards, proactive intelligence, alerts, and more. Firms with a high volume of data can benefit from this tool, to help them analyze, visualize, and generate a robust report.
  5. Zoho Analytics: This is one tool that offers in-depth reporting and data analysis along with automatic data sync and scheduling. It allows a business to blend and merge data from multiple sources to generate a report with data & facts that matter to a company. It is a good tool to prepare personalized reports and highlight important details.