Work smarter, not harder! This is the motto of most entrepreneurs in the business world and has been a big contributor to their success.
Small startups and renowned companies have their differences in their processes, but they all share one common thing: the requirement of actionable insights to succeed in doing business.
Everything in the world of business is changing and becoming more competitive. One thing that has led brands to break into competitive markets is the proper use of data analytics and business intelligence.
What is business intelligence?
Business intelligence refers to the computer software, tools, and practices that collect, integrate, analyze and present raw data of an organization to create informative and actionable business information.
Business intelligence tools include data visualization, data warehousing, dashboards, and reporting. These tools are useful in providing insights leading to business growth. Besides that, they can resolve issues that are urgent, collect all the data in one place and forecast future outcomes for a business.
As more businesses are turning to business intelligence (BI) tools, the market of BI tools is continually expanding and has been expected to grow at 7.1% through to the year 2025. These market expansions are expected with technological strides, which is helping businesses to grow.
However, with the plethora of business intelligence tools on the market, choosing the most effective one for you can be overwhelming. In this article, we look at 5 business intelligence tools for small and big businesses to help you narrow down your options.
The best business intelligence tools
Making business decisions has never been easier. With BI software Sisense, businesses and companies can collect, analyze and view data to devise strategic plans and make sound business decisions.
Using its drag and drop functionality, the tool collects all the needed information on a dashboard and provides a rough view of the data. It enables the user to analyze and visualize big datasets instantly. Besides that, you can come up with reliable analysis using visual reports, making the process faster and easier. It has an easy-to-use interface and allows you to learn the navigation system quickly.
In addition to that, Sisense offers initial data crunching for beginners working with the business intelligence system for the first time. Apart from that, if you are looking for scalability and flexibility, you are in for a treat.
The unique features of Sisense include:
- Exclusive technology – that runs regular queries to receive your data, so you don’t have to prepare data whenever a new question arises
- Single-stack architecture – one tool that can do it all – collect, prepare, organize and analyze data.
- The amalgamation of charts from multiple sources – Sisense’ superpower is to recognize and bring together charts and graphs from various data sources and combine the data without having the user prepare it.
- Optimal use of resources – no need to hire professionals to analyze data, maintain sophisticated hardware or make an excessive IT investment.
- Minimal learning curve – the platform doesn’t require manual mashups, nor does it need special scripts to learn. Besides that, all data analysis operations are conducted in the same system. This means you don’t have to invest in data warehouses or professional maintenance services while using Sisense.
2. Zoho Analytics
Next in our list is the data analytics platform Zoho Analytics. Previously known as Zoho Reports, this analytics tool was upgraded into robust self-service business intelligence, data analytics, and online reporting platform. It identifies trends, monitors key business metrics and determines any outliers.
In laymen terms, Zoho Analytics is a bird’s eye view of the performance and growth of various industries by consolidating data from different sources. Another thing that makes Zoho Analytics a great tool for businesses is its scalable data engine. With this, it is easy for the user to process data, no matter how extensive it may be.
The unique features of Zoho Analytics include:
- Streamlined Data Gathering – Zoho Analytics enables the user to easily sync and import data into the system. It accesses various on-premise databases, cloud storage platforms, and other applications. Not just that, it also formats and deletes any duplicate information present in the system.
- Chart Creation and Visualisation – Zoho Analytics allows the user to create animated videos, infographics, and charts without having the need for spreadsheets or a separate system. All that you have to do is choose the report you want. Whether it is 3D animation to explain your business, or creating infographics full of relevant statistics. You can do it all by using the drag and drop navigation feature of the tool.
- Built-in Collaboration Tools – using Zoho allows you to access collaborative workspaces with built-in communication options. This feature enables you to share reports while discussing the data in a secure environment.
- Open API Capabilities – extend the capabilities of the platform using its open API tool. This lets you integrate the system with your existing applications so that you do not have to jump from software to software to handle operations. The open API also makes it easy to collect and sync data.
3. Wyn Enterprise
One of the most powerful browser-based report designers, Wyn Enterprise is a business intelligence tool designed to help companies create reports and dashboards. The platform offers out-of-the-box functions, including self-service BI, multisource data integration, streamlined data modeling, data visualization, online document designing, and data reporting.
Wyn Enterprise has a user-friendly interface that is suitable for both technical experts and non-technical users to capitalize on data opportunities with ease.
The unique features of Wyn Enterprise include:
- Easy to use – one thing that helps Wyn stand out from the others in this list is its ease of use. The platform allows the user to create reports and dashboards with no research required.
- Multidata source integration – not only does the platform support different formats of data, but it also allows the user to pull different data types such as cloud data, program data, database, and locally stored file data.
- Wyn dashboards – Wyn Enterprise provides a user-friendly dashboard that enables the user to display data analysis creatively. In addition to that, it provides filters, cross filters, a designer integrated viewer, auto-refresh and data visualization features.
4. Qualtrics Research Core
Cloud-based research software Qualtrics Research Core is a powerful business analytics tool built for small businesses as well as large enterprises. It’s a reliable online survey solution that can empower brands and market researchers across industries including retail, media, B2B, travel, and hospitality.
It boasts features such as project management, multi-channel survey distribution, real-time analysis, reporting and more. The platform streamlines online surveys and makes everything easy to track for customer engagement.
Qualtrics is easy to use, yet it consists of amazing tools, which can boost business processes. Not only can you create surveys in less than a minute, but you can then distribute that survey to multiple channels. It simplifies the analysis and visualization of data enabling organizations to drive business growth through actionable insights about the business.
Some unique features of Qualtrics Research Core:
- Easy to customize survey templates – this feature is something that makes Qualtrics a worthy part of this list. It is a tool with customizable survey templates for marketers, enabling them to create a survey based on customer demographics and collected data.
- Simulation – the platform comes with a powerful simulation tool, which can streamline product configuration and pricing analysis.
- Multi-channel survey distribution – the research software allows the user to distribute surveys through multiple channels; helping you reach your target audience comfortably.
- Market analysis – one amazing feature of Qualtrics is that it enables users to understand market trends enabling you to improve your brand perception.
5. Microsoft Power BI
Any list of business intelligence tools is not complete without Microsoft Power BI. Users can identify trends in real-time with data visualization. Because it’s web-based, Microsoft Power BI can be accessed from pretty much anywhere. This software also allows users to integrate their apps and deliver reports and real-time dashboards.
Unique features of Microsoft Power BI:
- Works in seconds. It is easy and free to sign up with amazing features. For getting the extra features, you might have to pay a little amount which is very affordable.
- Excel spreadsheets, cloud services, streaming data, and on-premise databases – no matter where your data lives or what form it’s in, you get a holistic view of the key metrics for your business.
- Instantly know when your business needs your attention with real-time Power BI dashboards. Solve problems as they occur and seize opportunities as soon as they arise.
All these business intelligence tools have distinct features – which means choosing the right one is challenging. Microsoft Power BI is my recommendation. It is scalable and has powerful yet easy to use tools.
Learn insights about your business by using business intelligence software and make your way to the top of the hill with unique information. Use your creativity to make charts and graphs, do research and make your business outshine your competitors.