Best BI Tool: Top 15 Business Intelligence Tools (BI Tools)

Best BI Tool: Much like a proficient handyman relies on a well-stocked toolbox complete with hammers, nails, and screwdrivers, professionals venturing into the realm of business intelligence (BI) must acquaint themselves with specific software tools.

BI tools play a pivotal role in identifying fresh opportunities for businesses to enhance their return on investment (ROI) and gain a competitive edge by leveraging insights gleaned from data analysis.

What is Business Intelligence?

Business intelligence (BI) encompasses a technology-driven approach to scrutinizing data and furnishing actionable insights that aid executives, managers, and employees in making informed business choices. Within the BI framework, organizations amass data from both internal IT systems and external sources, preprocess it for analysis, execute queries against the data, and generate data visualizations, BI dashboards, and reports.

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What are Business Intelligence Tools?

Business intelligence tools are adept at gathering, processing, and scrutinizing vast volumes of structured and unstructured data sourced from both internal systems and external repositories. Leveraging queries, BI tools extract and organize this data, subsequently presenting it in easily interpretable formats such as reports, dashboards, charts, and graphs.

Top & Best BI Tools

Here are the best business intelligence tools:

1) SAP Business Objects

SAP Business Objects is a powerful business intelligence software renowned for its extensive reporting, analysis, and interactive data visualization capabilities. It is tailored to address various business needs, with a particular focus on areas such as Customer Experience (CX), CRM, digital supply chain, and ERP.

One of its standout features is the provision of self-service, role-based dashboards, empowering users to create customized dashboards and applications to suit their requirements.

SAP Business Objects caters to all stakeholders, including IT professionals, end-users, and management, offering a wide array of functionalities within a single platform. However, the comprehensive nature of the software may lead to higher pricing, necessitating careful consideration of budgetary constraints.

2) Microsoft Power BI

Microsoft Power BI is a robust business intelligence tool that offers both a desktop application (which is free) and a cloud-based platform for sharing reports and dashboards. With its comprehensive features, Power BI allows users to transform and visualize data effectively, making it a leading tool in the BI market.

Ideal for beginners familiar with Microsoft products, Power BI provides a seamless transition into the world of BI. Users can quickly get up to speed with Power BI through courses like Introduction to Power BI by DataCamp. For those looking to enhance their skills, the Power BI Fundamentals skill track is available.

Power BI offers two pricing options: a Pro subscription paid per user or a Premium plan per user or per capacity for access to advanced enterprise-scale features.

Key Features:

Data connectors and integrations for a wide range of data sources.
User-friendly interface with a drag-and-drop report builder and robust data visualization capabilities.
Natural language query for intuitive data exploration.
Web-based functionality allows reports to be published to the web and easily shared with others. Reports can also be designed directly from Power BI Service on the web with seamless integration with various applications.
Integration with Python enables users to incorporate data science functionalities into their Power BI reports. Learn more about this integration through DataCamp’s Introduction to Python in Power BI course.

3) Tableau

Tableau stands out as another top-notch BI tool renowned for its user-friendly interface, catering particularly well to non-technical users. With Tableau’s pre-built data connectors, integration with various applications becomes seamless, empowering users with advanced data discovery and visualization capabilities.

An interesting aspect of Tableau is its Tableau Public offering, available to all individuals regardless of expertise level. This free platform enables users to explore Tableau, enhance analytical skills, and gain valuable insights.

Beginners can kickstart their Tableau journey with the Introduction to Tableau course on DataCamp, while those seeking more comprehensive training can opt for the Tableau Fundamentals skill track.

Tableau offers a subscription-based pricing structure with three tiers, ensuring affordability for teams of all sizes.

Key Features:

Extensive array of data connectors supporting almost every data source imaginable.
Interactive and dynamic dashboards enabling users to create automated reports or conduct quick ad-hoc analyses.
Real-time data integration for visualization and analysis of live data, facilitating informed decision-making.

4) Datapine

Datapine offers an integrated business intelligence platform designed to simplify the complexities of data analytics, even for non-technical users.

Through its user-friendly interface and comprehensive self-service analytics approach, datapine enables both data analysts and business users to seamlessly integrate diverse data sources, conduct advanced data analysis, develop interactive business dashboards, and derive actionable insights. With datapine, organizations can harness the power of data to drive informed decision-making and optimize business performance effectively.

5) Domo

Domo is a fully cloud-based BI platform renowned for its user-friendly data visualization and reporting capabilities. Its intuitive interface, pre-built connectors, and simplified ETL solution make it an excellent choice for beginners diving into the world of business intelligence.

Domo offers a limited free version for users to explore the tool’s functionalities before committing. Following this, it provides three pricing tiers tailored to suit different business requirements. Notably, Domo adopts a credit-based pricing structure rather than user-based, allowing for flexibility in usage.

Key Features:

Over 1,000 pre-built connectors supporting diverse data sources.
Magic ETL streamlines data transformation and cleansing, even for users with limited technical proficiency.
Advanced embedded analytics with the aim of extending the reach of Domo’s insights across organizations (“Domo Everywhere”).

6) Zoho Analytics

Zoho Analytics is a user-friendly BI tool known for its affordability, making it a popular choice among small businesses and newcomers to the BI landscape. Despite its cost-effectiveness, Zoho Analytics delivers robust data preparation and visualization features comparable to more expensive competitors.

Zoho Analytics offers four pricing tiers tailored to accommodate varying user counts and data import volumes. For organizations with extensive data volumes or a large user base, Zoho Analytics offers customizable plans, including the option for dedicated servers.

Key Features:

Zoho DataPrep facilitates self-service data preparation and management.
Pre-built dashboards and widgets streamline report creation.
Integration with over 250 data sources and seamless connectivity with more than 50 popular data applications.
‘Ask Zia,’ Zoho’s natural language query feature, allows users to ask questions about their data in plain English and receive visualized responses.

7) Sisense

Sisense is renowned for its robust and exceptionally rapid data analysis capabilities, attributed to its unique data architecture that seamlessly integrates data preparation, data modeling, and data visualization within a unified platform. Despite the platform’s potency and sophistication, it remains user-friendly, catering to novices with a no-code user experience and an intuitive drag-and-drop dashboard builder.

Sisense provides flexible pricing options, including both self-hosted and cloud-based solutions, tailored to meet diverse business requirements.

Key features:

Integrated single-stack architecture for streamlined data preparation and analysis processes.
Utilization of Sisense’s in-chip data engine ensures swift data processing, capable of effortlessly handling large datasets.
Intuitive drag-and-drop dashboard builder, facilitating accessibility for users across skill levels.
Integration of AI and machine learning enhances analytical capabilities, enabling advanced insights and predictions.

8) Yellowfin BI

Yellowfin BI is an integrated business intelligence tool and comprehensive analytics platform that seamlessly blends visualization, machine learning, and collaboration features. With intuitive filtering options such as checkboxes and radio buttons, users can efficiently navigate through extensive datasets.

Moreover, the tool’s flexibility extends to its accessibility, allowing users to access dashboards from various devices, including mobile devices and web browsers. One notable aspect of Yellowfin BI is its user-friendly no-code/low-code development environment, empowering users to elevate dashboards and visualizations effortlessly.

9) QlikSense

QlikSense, a product of Qlik, stands out as a comprehensive data analytics platform and business intelligence tool. Its versatile accessibility allows users to utilize QlikSense from any device, at any time. The user interface is specifically optimized for touchscreens, enhancing its usability and popularity among users.

QlikSense boasts a unique associative analytics engine, advanced artificial intelligence capabilities, and a high-performance cloud platform, adding to its appeal. Notably, its Search & Conversational Analytics feature facilitates a swift and effortless method of asking questions and uncovering new insights through natural language queries.

10) Looker

Looker, a data discovery app now under the Google Cloud umbrella, is a noteworthy addition to the array of business intelligence tools available. Its versatility shines as it seamlessly integrates with any SQL database or warehouse, catering to startups, midsize businesses, and enterprise-grade corporations alike.

Notable benefits of Looker include its user-friendly interface, impactful visualizations, robust collaboration capabilities allowing data and reports to be easily shared via email or URL, and dependable technical support from its dedicated team.

11) Oracle BI

Oracle BI is a comprehensive enterprise suite comprising technology and applications designed for business intelligence purposes. This robust technology equips users with a wide array of BI capabilities, including dashboards, proactive intelligence, ad hoc analysis, and more.

Particularly suitable for companies dealing with large volumes of data from both Oracle and non-Oracle sources, Oracle BI stands out as a powerful and versatile solution. Additional features include data archiving, versioning, a self-service portal, and alerts/notifications.

12) Cognos Analytics

Cognos Analytics, on the other hand, is an AI-driven business intelligence platform that supports the entire analytics lifecycle. From data discovery to operationalization, users can visualize, analyze, and share actionable insights with colleagues.

Leveraging AI capabilities enables users to uncover hidden patterns within the data, as it is interpreted and presented through visualized reports. However, mastering all the features of this solution may require some time and effort.

13) MicroStrategy

MicroStrategy is an enterprise-grade business intelligence tool renowned for its powerful and high-speed dashboarding and data analytics capabilities, as well as its cloud solutions and hyperintelligence features. With MicroStrategy, users can seamlessly identify trends, uncover new opportunities, enhance productivity, and much more.

The platform offers versatile connectivity options, allowing users to connect to various data sources, whether they are spreadsheets, cloud-based platforms, or enterprise data software. Moreover, MicroStrategy can be accessed conveniently from desktops or mobile devices. However, setting up the platform may require the involvement of multiple parties and a comprehensive understanding of the application to get started effectively.

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Why use Business Intelligence Tools?

Business intelligence (BI) tools offer numerous benefits that help organizations make data-driven decisions, improve performance, and gain a competitive edge. Here are several reasons why businesses use BI tools:

Data Integration: BI tools can integrate data from multiple sources, including databases, spreadsheets, cloud services, and external sources. This allows organizations to consolidate data from disparate systems into a single, centralized platform for analysis.
Data Visualization: BI tools enable users to create interactive dashboards, charts, graphs, and reports to visualize data trends, patterns, and insights. Visual representations make it easier for stakeholders to understand complex data and identify key insights quickly.
Performance Monitoring: BI tools provide real-time or near-real-time monitoring of key performance indicators (KPIs) and metrics across various business functions, such as sales, marketing, finance, and operations. This helps organizations track performance against goals and identify areas for improvement.
Predictive Analytics: Advanced BI tools offer predictive analytics capabilities that use historical data to forecast future trends, outcomes, and events. Predictive models help organizations anticipate customer behavior, market trends, and business opportunities, enabling proactive decision-making.
Self-Service Analytics: Many BI tools offer self-service analytics features that empower non-technical users to access and analyze data independently without relying on IT or data analysts. Self-service capabilities enable users to create custom reports, queries, and visualizations to answer specific business questions.
Data Discovery: BI tools facilitate data discovery and exploration by allowing users to drill down into data sets, apply filters, and explore relationships between different variables. Data discovery features help uncover hidden insights and trends that may not be apparent at first glance.
Mobile Access: Modern BI tools offer mobile applications or responsive web interfaces that allow users to access and interact with data on smartphones and tablets. Mobile access enables decision-makers to stay informed and make decisions on the go, regardless of their location.
Cost Efficiency: BI tools help organizations streamline data analysis processes, reduce manual effort, and improve operational efficiency. By automating repetitive tasks and providing self-service capabilities, BI tools enable organizations to optimize resource utilization and reduce costs.
Competitive Advantage: By leveraging BI tools to gain actionable insights from data, organizations can gain a competitive advantage in the marketplace. Data-driven decision-making enables organizations to identify new opportunities, mitigate risks, and respond quickly to changing market conditions.

Overall, BI tools play a crucial role in helping organizations harness the power of data to drive business success, innovation, and growth.

Also Read: What are Analytical Insights: Definition & Best Practices

How to Choose the Best Business Intelligence Tools

Selecting the best business intelligence (BI) tool for your organization is a critical decision that requires careful consideration of various factors. Here’s a guide on how to choose the best BI tools:

1) Identify Your Business Needs:

Determine your organization’s specific requirements, including the types of data you need to analyze, the desired functionalities, and the goals you aim to achieve with BI.
Consider whether you need basic reporting, advanced analytics, data visualization, predictive modeling, or other specific features.

2) Assess Ease of Use:

Evaluate the user-friendliness of the BI tools. Look for intuitive interfaces and drag-and-drop functionality that make it easy for users to create reports and dashboards without extensive training.
Consider the technical expertise of your team members and choose a tool that matches their skill level.

3) Compatibility and Integration:

Ensure that the BI tool is compatible with your existing systems and data sources. It should support integration with databases, cloud platforms, and other applications commonly used in your organization.
Check if the tool offers pre-built connectors for popular data sources, making it easier to import and analyze data from multiple sources.

4) Scalability:

Consider the scalability of the BI tool to accommodate your organization’s growth and increasing data volumes. It should be capable of handling large datasets and growing user bases without compromising performance.
Evaluate the pricing structure and licensing options to ensure scalability aligns with your budget and future expansion plans.

5) Data Security and Compliance:

Prioritize data security and compliance features to protect sensitive information and ensure regulatory compliance. Look for encryption, access controls, and auditing capabilities to safeguard your data.
Verify that the BI tool complies with industry standards and regulations such as GDPR, HIPAA, or PCI DSS, depending on your industry and geographic location.

6) Support and Training:

Consider the level of customer support and training provided by the BI vendor. Look for comprehensive documentation, tutorials, and training resources to help users get started and troubleshoot issues.
Assess the availability of technical support channels, including email, phone, chat, or online forums, to address any queries or concerns promptly.

7) Cost and ROI:

Evaluate the total cost of ownership (TCO) of the BI tool, including licensing fees, implementation costs, training expenses, and ongoing maintenance fees.
Calculate the potential return on investment (ROI) by assessing the benefits of improved decision-making, increased efficiency, and enhanced business insights against the investment in the BI tool.

By considering these factors and conducting thorough research, you can choose the best business intelligence tool that aligns with your organization’s needs and objectives.

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Best BI Tool FAQs

What is a business intelligence (BI) tool, and why do businesses need it?

A BI tool is software designed to analyze and transform raw data into actionable insights for decision-making. Businesses need BI tools to gain deeper visibility into their operations, identify trends, forecast future performance, and make data-driven decisions to drive growth and profitability.

What are the key features to look for in a BI tool?

Key features to consider include data visualization capabilities, advanced analytics functionalities, ease of use, compatibility with existing systems, scalability, data security, integration capabilities, and support and training options.

How do BI tools differ from traditional reporting tools?

While traditional reporting tools focus on generating static reports based on historical data, BI tools offer advanced analytics and data visualization capabilities to uncover insights from both historical and real-time data. BI tools enable interactive exploration of data, predictive modeling, and forecasting to support proactive decision-making.

What types of data sources can BI tools connect to?

BI tools can connect to a wide range of data sources, including databases (SQL, NoSQL), cloud platforms (AWS, Azure, Google Cloud), spreadsheets, CRM systems (Salesforce, HubSpot), ERP systems, web analytics tools, social media platforms, and more. Look for BI tools that offer pre-built connectors for seamless integration with your existing data sources.

How can BI tools benefit different departments within an organization?

BI tools can benefit various departments, including sales, marketing, finance, operations, human resources, and customer service. Sales teams can use BI tools to track performance metrics, analyze customer behavior, and identify cross-selling opportunities. Marketing teams can leverage BI tools to measure campaign effectiveness, optimize spending, and segment target audiences.