Top Business Intelligence Software Companies – Looking for an all-in-one resource to compare and evaluate Business Intelligence (BI) systems and choose the most appropriate BI for your business? Here, you can find a list of top BI systems, key features and modules of BI systems, major challenges with BI systems, pricing and other considerations for choosing your optimal BI solution.
Tableau Software is a leading business intelligence and analytics platform designed for companies of all sizes across a variety of industries. Headquartered in Seattle, Washington, Tableau offers data preparation, visualization and sharing capabilities to help…
Top Business Intelligence Software Companies
Ibi WebFOCUS is a business intelligence software solution developed by Cloud Software Group, based in Virginia, USA and founded in 1968. It offers capabilities for ad hoc querying, reporting, dashboarding, visual data discovery and advanced analysis. ibi…
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Qlik Sense is a leading business intelligence and analytics platform developed by Qlik, a software company founded in 1993 and headquartered in King of Prussia, Pennsylvania. Qlik Sense targets businesses of all sizes across a variety of industries, offering flexible …
GoodData is a business intelligence (BI) software solution developed by GoodData Corporation, a global technology company headquartered in San Francisco, California with offices in Europe and Asia Pacific. GoodData targets medium to large enterprises across various …
Intellicus Technologies Pvt. Ltd., founded in 2005 and headquartered in Noida, India, offers the Intellicus Enterprise Reporting and Business Insights Platform. This business intelligence solution is designed for medium to large businesses across a variety of industries…
Board International is a business intelligence (BI) software company founded in 1994 and headquartered in Chiasso, Switzerland. Board offers an integrated BI platform designed for large enterprises with complex data needs across a variety of industries including retail, …
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Domo is business intelligence and data analytics software provided by Domo Technologies, founded in 2010 and headquartered in American Fork, Utah. Domo offers cloud-based solutions tailored for large enterprises across various industries such as retail, healthcare, …
Axiom is an enterprise performance management software released by Syntellis, headquartered in Scottsdale, Arizona, which was founded in 2013. Axiom targets medium-sized to large enterprises across various industries such as banking, insurance, retail, healthcare, …
Access Insight is enterprise performance management (EPM) software published by The Access Group, a UK-based software company founded in 1991 and headquartered in Berkshire, England. Access Insight targets mid-sized to large businesses across a variety of industries…
Power BI can be accessed on Windows, Mac, Android and iOS devices through the Power BI mobile app. Microsoft offers 24/7 support through online documentation, forums, chat, and phone. In-depth training is available through online tutorials, blogs, video courses and …
Best Business Intelligence Software 2024
What Is Business Intelligence (BI)?—Definition and How It Works Business intelligence (BI) refers to the process of transforming raw business data into insights to inform better and more relevant business decisions. The term BI typically encompasses the infrastructure, software tools and processes to collect, organize, store, analyze and summarize business data into actionable insights.
BI systems use advanced technologies to access and analyze data, and present the results in an easily digestible format, including in the form of reports, graphs, charts and diagrams. Businesses can use these findings to identify ongoing issues and bottlenecks, understand market trends and thus implement effective business processes.
BI informs business users about what happened in the past, how it happened, what is happening now, and what could happen in the future by analyzing all the relevant variables to the business. The ultimate goal of BI is to provide data insights based on raw data from various sources and systems to help businesses improve their operational efficiency and increase revenue. What Do BI Systems Do? BI systems primarily collect raw business data from multiple sources, organize it for analysis, create reports and dashboards based on queries and present them in an easily digestible and understandable visual format to inform the tactical and strategic decisions of business decision makers. The BI harvesting process itself includes different types of processes, the most significant of which are presented here: Data collection The first step of a BI system is to accumulate a huge amount of data from various areas of the business and beyond. The BI system collects data, whether structured or unstructured, from various internal and external sources. Combining various data sources together into a single system enables businesses to make deeper and more diverse analyzes of issues that are important to the business and that have an impact on the growth and competitiveness of the organization in the market. Most businesses collect a large amount of data because it helps organizations understand market trends, increase customer databases, improve marketing strategies, and more. Data Integration and Transformation Cleaning and integration of data for analysis is a significant step in the BI process. The data can be stored in data warehouses or a central location and organized as data cubes to facilitate different types of queries to be made. It is also important to get business data in a state where it is ready for analysis or where it can be supplemented or supplemented by incoming data and be continuously transformed. Data integration and transformation ensures a faster, more reliable and more accurate way to manage data from different sources. Data Analysis BI systems use basic and advanced analytical tools such as data mining and machine learning (ML) algorithms to discover trends and patterns that help businesses understand the past, present and future business environments. To analyze data, BI systems use various tools based on the use of the data, including descriptive analysis, predictive analysis, statistical analysis, exploratory analysis and querying. Data analysis focuses on understanding the relationships contained in the data and is very dependent on the quality of the data and the accuracy of the data of a data group. Further analysis is performed to define key performance indicators (KPI) or key metrics and provide a visual representation of the information obtained in various dashboards and reports. Data analytics thus enables businesses to explore, filter and sort data into various categories, as the data is turned into valuable information for actionable insights. Data visualization Once the data is analyzed, it should be displayed on the dashboard in interactive and easy-to-understand visualizations. BI systems use a wide variety of techniques to visualize data, enabling business users to find the meaning in data quickly, get answers to their questions and inform their further decisions. To this end, charts, graphs and other pictorial representations are used to make data visualization simple and understandable, yet comprehensive. Today’s BI tools offer functions such as changing the metrics and dimensions in charts, as well as filtering or drilling down into the data, allowing to analyze data from different perspectives and present the information in an interactive but customized way according to the needs. from the business user. Reporting BI software solutions provide information in the form of different types of summarized reports that can be shared with the employees of the organization including stakeholders to inform and improve business decisions. Because BI data can be updated in real time, BI systems offer up-to-date reports that enable businesses to operate efficiently based on relevant and up-to-date data. The provision of BI reports from a single system provides a single source of truth, rather than reports from different systems used throughout the business with the resulting risks of data inaccuracies and data silos. The availability of advanced BI reporting tools uncovers hidden trends and patterns on various business topics or issues and provides insights in the preferred format for end-user consumption and reasonable decision-making.
Reasons Why Your Business Needs the Best BI Software for Your Needs The concept of BI involves processing business data and sharing information with users to make improved business decisions. Most businesses, regardless of size, use BI solutions to understand market trends and identify issues so they can implement measures that match a changing business environment.
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Industries That Use BI Software BI systems enable businesses of all sizes to access and analyze large amounts of data from multiple sources quickly and accurately, which would not be possible to do manually. From reporting and dashboard functions to state-of-the-art capabilities based on artificial intelligence (AI), such as in the so-called augmented analytics offerings, the BI market offers solutions capable of helping companies achieve all their business intelligence and analytics functions. . With the ability to process data efficiently and perform the different types and levels of analysis required by an organization, BI software allows organizations in every industry to adopt a data-driven culture.
Below we discuss some of the industries that widely use BI software and their reasons for it, while providing our unbiased overview of leading BI software solutions for the following sectors:
Finance and Banking The industries in which BI software is most effective in improving performance and automating workflows seamlessly are finance and banking, and insurance services. The repetitive tasks and large volume of data inherent in these industries make it impossible for people to manage the workload and process the data effectively without the help of technology. The use of a panel of financial institutions facilitates the optimization of work flows, making
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