Companies today generate a huge volume of data and it is continues growing at an exponential rate. However, they need to convert that data into information to plan for future business strategies. Valuable data for most brands is stored in massive spreadsheets or servers. Therefore, finding the right data management tools can be a significant priority to business leaders, as those tools enable them to analyze and draw insights from the troves of data generated every data.
Business Intelligence (BI) here comes as a vital asset for companies. It assists in producing precise reports by mining data directly from the companies’ data source. Using BI tools, enterprises can be able to lessen the time-consuming in the task of combining data manually. Still, hunting for the right BI suite is undeniably a daunting task. Because BI tools are intricate, costly, and the wrong one can sink a business entirely in some way.
Here’s the top 5 BI tools for companies to start their own dedicated analytics or data science function.
IBM Cognos Analytics
Cognos is IBM’s business intelligence and performance management software suite, provides a set of tools for reporting, analytics, scorecarding, and monitoring of events and metrics. The platform encompasses a range of components designed to meet the various information requirements in a company. IBM Cognos has components, including IBM Cognos Framework Manager, IBM Cognos Cube Designer, IBM Cognos Transformer. The software can also be used by users with no technical knowledge to extract corporate data, assess it and assemble reports.
Looker, a cloud-based BI platform designed to explore and analyze data, provides business teams the ability to evaluate supply chains, market digitally, quantify customer value, interpret customer behavior, and gauge distribution processes. It assists businesses to grasp and investigate data from multiple sources and make data-driven decisions. By utilizing Looker, businesses can access a web-based interface where they can easily get real-time insights on their operations through data analytics.
Microsoft Power BI
Power BI is a business analytics service allowing users to see all of their data through a single pane of glass. Its abrupt appeal lies in its ability to quickly digest and alter compound swathes of data into rich, understandable visualizations using a drag and drop canvas to deliver insights. The data is then shareable, cloud-based and easily made mobile-friendly. Power BI has a free version designed for small to midsize business owners and a professional version called ‘Power BI Plus’, which is available with a monthly subscription fee.
SAP Analytics Cloud
SAP Analytics Cloud is a software-as-a-service (SaaS) business intelligence offering built on its HANA BI platform. It has evolved out of the SAP Cloud for Planning product. Besides, business planning, the other key components are BI for reporting, dashboarding, data discovery and visualization; predictive analytics and governance, risk, and compliance (GRC). SAP Analytics Cloud provides data analysts and business decision-makers the ability to visualize, plan and make predictions all from one secure, cloud-based environment.
TARGIT Decision Suite
TARGIT Decision Suite is a BI and analytics solution that offers visual data discovery tools, self-service business analytics, reporting and dashboards in a single, integrated solution. The platform makes it easier for companies to leverage robust data governance, usage logging and robust reporting features across the entire enterprise. Having a different range of deployment options, TARGIT Decision Suite can be made accessible for everyone in the organization through Windows, web interface, mobile client or embedded dashboards in other programs.