Business Intelligence has become a major part of businesses to derive analytics that would provide the future course of business. Choosing relevant BI tools for your business can be very challenging but we help you with our compiled list of the best BI tools prevalent in the
industry today.
BI tools have become an important part of any business regardless of its size, revenues, and product spread. Data analyzed by different BI tools help managers to make critical decisions. The importance of data is unquestionably omnipresent in every industry. Customer expectations have also risen, which means that organizations have to become proactive by making use of critical information about customers. Before going to the list, let us define Business Intelligence. The below-given definition is a perfect explanation of what BI is exactly:
“The term Business Intelligence (BI) refers to technologies, applications, and practices for the collection, integration, analysis, and presentation of business information.”
Top tools to watch out for
One of the researches undertaken by the Business application Research center cited that BI has increased a lot in demand and the retail and marketplace solutions and e-commerce solutions integrating them. BI tools have been quick to answer several questions related to the effectiveness of advertising strategies, buying propensity, the overall responsiveness of customers, and their price sensitivity.
In order to get answers to these important questions, you need the power and back-up of data followed by an analytical eye to extract sense out of it. If you engage in manual attempts, it will not just be time-taking but also expensive which is why it is now time to explore through the list of the best BI tools in the market.
Tableau
Without a doubt, Tableau is presently occupying the numero-uno position in our list because of its top-notch analytical tools. Its public version was released in 2010 and since then there has been no looking back for this popular solution provider. Tableau is known to have a friendly user-interface that helps even the non-technical users to get on with it smoothly. Its customized dashboards and wonderful navigation help in easy figuring out sense even from heaps of data. The company provides need-based analytics and embedded analytics that can be integrated with existing data infrastructure in the cloud.
Pricing and strategic advantages
Great interface and a coherent collaboration with other tools like CRM to fix analysis with relevant illustrations. Its products like the Prep or mobile helps in saving a lot of time and effort in smoothening the working of Ecommerce data patterns.
Tableau Creator$70 billed/ user/month - billed annuallyTableau Explorer$35 billed/ user/month - billed annuallyTableau Viewer$12 billed/ user/month - billed annually
Microsoft Power BI
In our list as well as in the overall market, Microsoft’s Power BI is a close second to Tableau. It is a cloud based solution that lets users visualize lots of data with quickness and accuracy. It has worked with several data-service providers that it has the best TAT for data collection. It also carries the capability of interconnecting different data sources on-premises and in the cloud so that the data is easily accessible from all the versions.
Pricing and strategic advantages
Power BI comes with a free desktop version that could do a world of good to larger eCommerce stores, but for smaller eCommerce stores it is surely a boon. Its data visualizations and comprehensive nature of functionalities is something that sets it apart. If you are looking at collecting hordes of information and get a quick analysis out of it, then Power BI offers advanced tools. If you want to go beyond its desktop version, it offers Power BI Pro and Power BI Premium that will help users for large data management, report collaboration which can be converted into interactive presentations.
Power BI Pro$9.99 per user per monthPower BI premium$4,995 per user per month with cloud compute and storage resource
Looker
Number three on our list is Looker because it combines the power of the previous two we discussed. But it also has something different and that is it works in-database and supports warehouses like Redshift and PostgreSQL with real time access to data and zero security risks. Looker has its own language called ‘LookML’ that allows users to build SQL queries without the need to have any data analytics experience.
Pricing and strategic advantages
Lookers are known to offer customized modules that are designed to undertake specific tasks. There is no requirement for coding or to generate standards from the beginning. For Ecommerce stores, Looker has specific functionalities like the brand and category affinity module that provides valuable data for correlation between brands and products. With the valuable information so received, the stores can easily cross-sell and upsell and save a lot of costs. The organization does not reveal its pricing policy as it works on a customized basis.
Sisense
This is an end-to-end full-stack BI tool that has carved a niche for itself for its predictive analysis tools. Data can be easily extracted and processed from the server’s cache allowing for faster data processing. It has a different in-chip technology offloading RAM leading to better resource management with a data warehouse.
Pricing and strategic advantages
It has many features like automatic data recognition which helps the stores to identify which sets of data are important and which can be eliminated. Due to its interactive and intuitive interface because it has an inbuilt mechanism to pick observations from past history and put it on the forefront so that the stores can take advantage of it. This BI tool also offers customized pricing. Pay as you use functionality is operative here.
Domo
Domo is a heavyweight tool in the BI space and our list is incomplete without it. Users with no prior BI experience can equally use the tool with professional finesse. It has more than 1000 in-built connectors for data collection from diverse cloud zones.
Pricing and strategic advantages
If you want your eCommerce store to have great visibility among competition then Domo has a variety of features like the supply chain management feature to achieve heightened efficiencies. Owners of E-commerce stores can understand specific trends as the application has the built-in predictive capability that can help organizations to pinpoint seasonal trends that are great for weathering the unpredictability in supply chain management. Its Magic ETL feature stands out because it provides an additional set of tools that helps in creating data streams in a format convenient and those required. No fixed pricing policy, need-based pricing policy
There are several other BI tools in the market apart from these 5 that we have listed. Choosing relevant BI tools should be in accordance to your requirement listing. We can help you achieve your data analytics goals. It is time you consult our experts.
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