The global Business Intelligence market has surpassed the $20 billion mark in 2018 and shows no signs of slowing down. It’s expected to surpass the $25 billion cap by upcoming years. More than 46% of all small businesses rely on BI tools today and this number is only expected to grow in the future.
That said, 70% of all BI software solutions are controlled by only a few vendors, thus establishing a semblance of a monopoly in the market and making it hard to find a viable alternative that may offer more in terms of functionality while sparing your bank account at the same time.
That’s where we come in with our list of the top 12 most reliable and efficient BI solutions. All of the mentions in our list are based on their performance, functionality, and availability, and not the brand that’s behind them.
What do Business Intelligence tools bring to the table?
The growing volume of data users produce daily, the digital trail of clients, leads, and prospects leave behind, can be combined with Artificial Intelligence to streamline sales and marketing effectively and efficiently.
Think of BI as a means of:
- Making better, data-driven decisions
- Speeding up the reporting process
- Identifying new markets and revenue opportunities
- Increasing operational efficiency
Top 10 BI solutions of 2024
- SAS: This tool serves as a bridge between countless data sources and the software’s users. It covers everything from governance, scalability, and centralized metadata to real-time analytics and data visualization. Additionally, it is one of the most powerful tools on the market to take care of data security issues.
- WebFOCUS: This tool offers amazing data analytics functionality, but its key selling point is convenience and excellent usability. The data generated and analyzed by WebFOCUS is delivered to the company and its clients via extremely handy and potent apps.
- IBM Congos: This web-based BI suite by none other than IBM themselves, is an excellent solution for those willing to pay top dollar for insights, reporting and analysis functionality, and pitch-perfect support.
- Pentaho: This is one of the few tools on our list that’s open source. Even though the lion’s share of the open-source solutions are either inefficient or too efficient for their own good (diversified functionality without a unifying purpose for it), Pentaho, on the other hand, is not your typical Jack of all trades. It is an extremely potent solution for data analysis with great visualization and cloud support.
- Oracle BI: The product’s slogan states “Insights at your fingertips” and it couldn’t be more correct. Ad-hoc Query Analysis, Reporting, and Real-time analytical processing are all delivered to you in the form of Oracle’s superb Common Enterprise Information Model.
- Qlik: Qlik is an extremely potent property analysis platform that excels at visualizing the dependencies between data assets. It’s in-memory indexing algorithms maintain data relationships for your convenience, while the Embedded and Guided Analytics visualize every nook and cranny in an intuitive, easy to grasp format.
- Board: This tool opens access to corporate performance management, business analytics, and BI solutions from the box. Perfect for those businesses who either can’t afford or dislike using multiple solutions at once.
- Yellowfin BI: This agile application offers many flexibilities and customization options for your Business intelligence needs. Its great mobile support allows you to make important, data-driven decisions on the fly.
- Bizzscore: Bizzscore is a handy tool for data analysis, data source integration, scalable insights location based on your data inputs, and performance management. All of the results are easily exportable into Excel sheets or PowerPoint presentations, making your manager’s job as well as their pitches much more potent than they used to be.
- Looker: This cloud-based solution is made for real-time data discovery, and it’s perfect for the job at hand, but when it comes to actual, intelligent data analysis, the tool fades in comparison to some of the other solutions mentioned on our list.
- Domo: Domo is also a cloud-based BI app with an emphasis on micro and macro-level analysis. Great for those of you who care about the intricate details or simply wish to see the bigger picture.
- Targit BI: This is one of the most powerful and user-friendly BI platforms on our list. The mobility it offers is excellent. Targit BI’s only shortcoming is its data visualization, which can be improved.
This concludes our handy little list of powerful BI solutions designed to enhance your control over the business and allow you to make informed decisions instead of relying on hunches or educated guesses.
Great Learning’s PG course in Business Analytics & Business Intelligence is a definite program to upskill and grab a career opportunity in Analytics and BI.
