Instruments – Ensuring that all business processes are under control is becoming more difficult every year as the massive amounts of data produced challenge companies of all sizes. Ultimately, organizations and businesses need some help in making sustainable and profitable decisions.
By using modern and professional business intelligence tools (BI tools), any business user can quickly address any challenge without the need for extensive IT involvement.
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These tools help collect, analyze, monitor and predict future business scenarios, creating a clear view of all the data a business manages. Identifying trends, enabling self-service analytics, leveraging powerful visualizations, and providing professional BI dashboards are becoming the standard for business, strategic development, and ultimately indispensable tools for increasing profits.
And not only that, the self-service nature of these solutions allows access to all the features we just mentioned for all user levels, without the need for any technical skills or special training. Making them an ideal solution for democratizing the data analysis process and improving business performance.
Here, we explain what a BI tool is, provide the most prominent benefits a business can gain from using them, and provide a list of the best BI tools on the market with an overview.
To make this list the most accurate, we took into account the two most prominent websites for software comparisons and user reviews. On one side we have Capterra, also part of the Gartner family, the world’s leading consulting and research firm.
And on the other hand, we have G2Crowd, one of Gartner’s biggest competitors and a major player in the review market for over a decade. For our research, we used the top-ranked business intelligence software platforms on both websites, with at least 50 reviews between the two websites.
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BI tools are types of software used to collect, process, analyze, and visualize large amounts of past, present, and future data to create actionable business insights, generate interactive reports, and simplify decision-making processes.
These business intelligence platforms include core features such as data visualization, visual analytics, interactive dashboards, and KPI scorecards. In addition, they enable users to use self-service automated reporting and predictive analytics functions, all in one solution, making the analytics process efficient and accessible.
But what exactly are the benefits of these instruments of BI applications and what do they offer that traditional data management tools can’t? It all starts with technology. Professional Instruments for open source BI software and tools offer a variety of outstanding benefits, here we focus on the most invaluable:
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They aggregate all relevant data: Whether you work for a small business or a large enterprise, you likely collect data from various portals, ERPs, CRMs, flat files, databases, APIs and more. To manage all these sources and better understand the collected information, you need to master advanced data analysis.
That’s why using modern data connectors helps centralize different sources and gives you a single view of all business processes. In this way, identifying issues, trends, cross-analysis and taking action are closely related and based only on data.
Their true self-service analytics approach unlocks access to data: if every person in the company is equipped with modern instruments business intelligence software that allows them to independently explore data, the need to request reports from the IT department is greatly reduced.
This self-service instruments of open source BI approach gives organizations a competitive advantage by equipping every employee with the right amount of data analysis skills, which ultimately saves the company time and resources and reduces the IT department, thus allowing them to focus on other things. critical tasks.
They eliminate manual tasks: while traditional business management tools encourage the use of spreadsheets and static presentations, modern instruments software eliminates endless rows and columns and facilitates process automation.
Need a report? The tool will automatically update your KPI dashboard with real-time data. Additionally, you can automate the reporting process at set intervals and view only the results. Need a presentation? Just drag and drop your values and see how you can easily create a powerful interactive dashboard that lets you interact directly with your data on one screen. Leaving endless PowerPoint presentations behind and welcoming a much more intuitive approach to data analysis.
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Easy-to-use predictive analytics: Advanced analytics features, including predictive analytics based on a forecasting engine, where you can easily select a KPI, set the number of data points to forecast, set previous data points for the calculation, and finally. define the quality of the model by specifying the desired confidence interval.
Many Interactive Dashboard Features: Dive into every part of your dashboard using advanced dashboard software features such as