Business intelligence tools help to make sense of the enormous quantities of data business have regarding customers, suppliers, and business partners, and help uncover the insights within that data that are vital to winning in the marketplace. Business intelligence is an umbrella term for various methods of collecting and analyzing this data to help organizations make data-driven decisions.
Business Intelligence (BI) Tools
Best Business Intelligence (BI) Tools
- Best Business Intelligence (BI) Tools include: Klipfolio, InsightSquared Sales Analytics, ThoughtSpot, TIBCO Spotfire, Alteryx Platform, Sisense, Domo, Tableau Desktop, Looker, Cyfe, Microsoft Power BI, Tableau Online, Microsoft BI, TIBCO Jaspersoft, Tableau Server, Google Charts, and Board.
- A complete list of Business Intelligence (BI) Tools is available here.
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Business Intelligence Tools Overview
What is Business Intelligence (BI)?
Business Intelligence software (BI) makes up a large heterogeneous category of software. Not all tools in the category can be meaningfully compared to each other. There are several types of BI tools of which the most substantive are Full-Stack Business Intelligence Tools and Data Visualization Tools.
Business Intelligence Tools Features & Capabilities
- BI Platform Type
- Supported Data Sources
- Standard Reporting
- Ad-Hoc Reporting
- Report Output and Scheduling
- Data Discovery and Visualization
- Access Control and Security
- Mobile Capabilities
- APIs / Embedding
Full-Stack Business Intelligence Tools
Slices of data from the warehouse—usually summary data for a single department like sales or finance—are stored in a “data mart” for quick access. All of this structured data is normalized by using an ETL process (Extract, Transform and Load) whereby transactional data is combined into a single pool of data and then “transformed” into a more appropriate format for querying and analysis before being written in the data warehouse database.
The Full-Stack Business Intelligence TrustMap shows only those products that belong in this sub-category.
Data Discovery and Visualization Business Intelligence
These business intelligence tools often use a technology called in-memory analytics to query data residing on a computer’s RAM rather than on a physical disk. This means that the data does not have to be stored anywhere for subsequent analysis.
Data visualization products often have lower cost of implementation and require less support. This can make them good business intelligence tools for small companies that don’t need a full-stack business intelligence solution.
The Data Visualization TrustMap shows only those tools that belong in this sub-category.
One of the impediments to understanding pricing is that vendors base their pricing on a broad range of different variables from number of users to number of CPU cores.
However, as a very rough guide, advanced report authoring can cost $2,000 to $2,500 per seat, while interactive report viewing can be about half that amount. Static report viewing can be as little as $50 per seat.
Business Intelligence (BI) Products
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ReportsNow is a business intelligence software offering from ReportsNow.
Frequently Asked Questions
Data discovery and visualization products are primarily designed to help data analysts and business users discover patterns and outliers in large quantities of data, and to build compelling visual representations which allow these trends and patterns to be easily understood. Commonly available visualizations include charts, graphs, and maps.
Embedded analytics is the integration of BI capabilities directly into a business application or portal. The idea is to provide analytics that are contextual. In other words, analytics tools are available directly within whatever business application is being used at a given moment, whether it be Salesforce, an ERP system, or a marketing automation tool.
Augmented analytics is a term used to denote the use of machine learning and natural language processing to automate insights into datasets generated by analytics and BI tools. Today, many well-known BI platforms have built-in capabilities to automate data preparation and detect some correlations and anomalies in large data sets. The ultimate goal is for this technology to be capable of analysis and even insight generation and action plan generation.
Both business intelligence and more recent technologies like data science are predicated on gaining business insight based on data analysis. The primary function of BI tools is to explore past trends in a business’s historical data and compare data across time. Data science tools, on the other hand, use algorithms to understand and predict a business’s future performance. Data scientists build data models to try to answer questions or discover predictive patterns in huge volumes of data.