Top 15 Business Intelligence Tools in 2024

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Are you considering implementing a business intelligence tool? Then you’ll be happy to hear you have tons of different options on the market. Business intelligence tools (BI tools) are all about helping you understand trends and derive insights from your data so that you can make tactical and strategic business decisions. They also help you identify patterns in the mountains of data your business builds up. But the question is how do you know which business intelligence tool is best for your business? Which tools will help you achieve your online goals?

You’re not the only one out there in search of such a solution. Many SMB businesses are hopping on the BI bandwagon, especially as the prevalence of big data continues to rise. In fact, according to Mordor Intelligence, the business intelligence industry is so popular that it is predicted to reach a value of USD 40.50 billion by 2026.

What are bi tools?

For starters, data discovery, which used to be limited to the expertise of advanced analytics specialists, is now something everyone can do using these tools. Not only that, these tools give you the insights you need to achieve things like growth, resolve issues that are urgent, collect all your data in one place, forecast future outcomes, and so much more.

In this article, we will explain the top 15 Business Intelligence tools in 2024 and hopefully put you on the right path toward selecting the right tool for your business.

Keep in mind: these business intelligence tools all vary in robustness, integration capabilities, ease of use (from a technical perspective), and, of course, pricing.

1. SAP Business Objects

SAP Business Objects is a business intelligence tool that offers comprehensive reporting, analysis, and interactive data visualization. The platform focuses heavily on categories such as Customer Experience (CX) and CRM, digital supply chain, ERP, and more. What’s really nice about this platform is the self-service, role-based dashboards it offers, enabling users to build their dashboards and applications. SAP is a robust BI Tool intended for all roles (IT, end-users, and management) and offers tons of functionalities in one platform. The complexity of the product, however, does drive up the price, so be prepared for that.

Pros:

Comprehensive reporting, analysis, and data visualization.
Self-service, role-based dashboards.
Suitable for IT, end-users, and management.
Offers tons of functionalities in one platform.

Cons:

Complexity can lead to a steeper learning curve.
Higher price point compared to some competitors.

2. Datapine

Datapine is an all-in-one business intelligence platform that facilitates the complex process of data analytics even for non-technical users. Thanks to a comprehensive self-service analytics approach, datapine’s solution enables data analysts and business users alike to easily integrate different data sources, perform advanced data analysis, build interactive business dashboards, and generate actionable business insights.

Pros:

All-in-one business intelligence platform.
Self-service analytics for non-technical users.
Integration of different data sources.
Advanced data analysis and interactive dashboards.

Cons:

May not be as robust as some other enterprise-level tools.
Pricing can be a concern for small businesses.

Also Read : Data Collection Tools

3. MicroStrategy

MicroStrategy is an enterprise business intelligence tool that offers powerful (and high-speed) dashboarding and data analytics, cloud solutions, and hyperintelligence. With this solution, users can identify trends, recognize new opportunities, improve productivity, and more. Users can also connect to one or various sources, whether the incoming data is from a spreadsheet, cloud-based, or enterprise data software. It can be accessed from your desktop or via mobile. Setup, however, can involve multiple parties and some rather extensive knowledge of the application to get started.

Pros:

High-speed dashboarding and data analytics.
Cloud solutions and mobile accessibility.
Integration with various data sources.
Recognizes new opportunities and trends.

Cons:

Setup complexity may require extensive knowledge.
Licensing costs can be on the higher side.

4. SAS Business Intelligence

While SAS’ most popular offering is its advanced predictive analytics, it also provides a great business intelligence platform. This well-seasoned self-service tool, founded back in the 1970s, allows users to leverage data and metrics to make informed decisions about their business. Using their set of APIs, users are provided with lots of customization options, and SAS ensures high-level data integration and advanced analytics & reporting. They also have a great text analytics feature to give you more contextual insights into your data.

Pros:

Advanced predictive analytics capabilities.
Robust self-service tool.
Customization options through APIs.
Text analytics for contextual insights.

Cons:

May have a steeper learning curve for beginners.
Can be relatively expensive.

5. Yellowfin BI

Yellowfin BI is a business intelligence tool and ‘end-to-end’ analytics platform that combines visualization, machine learning, and collaboration. You can also easily filter through tons of data with intuitive filtering (e.g. checkboxes and radio buttons) as well as open up dashboards just about anywhere (thanks to this tool’s flexibility in accessibility (mobile, webpage, etc.). The nice thing about this BI tool is that you can easily take dashboards and visualizations to the next level using a no-code/low-code development environment.

Pros:

End-to-end analytics platform with machine learning.
Intuitive data filtering and accessibility.
No code/low code development environment.
Versatile dashboards and visualizations.

Cons:

Pricing may not suit all budget ranges.
Support can vary in responsiveness.

6. QlikSense

A product of Qlik, QlikSense is a complete data analytics platform and business intelligence tool. You can use QlikSense from any device at any time. The user interface of QlikSense is optimized for touchscreen, which makes it a very popular BI tool. It offers a one-of-a-kind associative analytics engine, sophisticated AI, and a high-performance cloud platform, making it all the more attractive. An interesting feature of this platform is its Search and conversational Analytics, which enables a faster and easier way to ask questions and discover new insights by way of natural language.

Pros:

Touchscreen-optimized user interface.
Associative analytics engine.
Natural language-based search and analytics.
AI-powered conversational analytics.

Cons:

Pricing models may not be straightforward.
Licensing costs can add up.

Also Read : What Is Data Collection?

7. Zoho Analytics

Zoho Analytics is a great BI tool for in-depth reporting and data analysis. This business intelligence tool has automatic data syncing and can be scheduled periodically. You can easily build a connector by using the integration APIs. Blend and merge data from different sources and create meaningful reports. With an easy editor, you can create personalized reports and dashboards enabling you to zoom into the important details. It also offers a unique commenting section in the sharing options, which is great for collaboration purposes.

Pros:

In-depth reporting and data analysis.
Automatic data syncing and scheduling.
Integration with various data sources.
Personalized reports and collaboration features.

Cons:

Advanced features may require a learning curve.
Advanced analytics capabilities might be limited.

8. Sisense

Sisense is a user-friendly data analytics and business intelligence tool that allows anyone within your organization to manage large and complex datasets as well as analyze and visualize this data without your IT department getting involved. It lets you bring together data from a wide variety of sources including Adwords, Google Analytics, and Salesforce. Not to mention, because it uses in-chip technology, data is processed quite quickly compared to other tools. This platform is even recognized as a leading cloud analytics platform by various industry experts such as Gartner, G2, and Dresner.

Pros:

User-friendly data analytics and visualization.
In-chip technology for fast data processing.
Integration with various data sources.
Recognized as a leading cloud analytics platform.

Cons:

May not be as feature-rich as some competitors.
Licensing costs can be a concern for smaller businesses.

9. Microsoft Power BI

Microsoft Power BI is a web-based business analytics tool suite that excels in data visualization. It allows users to identify trends in real-time and has brand-new connectors that allow you to up your game in campaigns. Because it’s web-based, Microsoft Power BI can be accessed from pretty much anywhere. This is one of the best business intelligence tools that also allows users to integrate their apps and deliver reports and real-time dashboards.

Pros:

Web-based data visualization.
Real-time data identification and trends.
Integration with various data sources.
Web and mobile accessibility.

Cons:

Complex data modelling may require expertise.
Certain advanced features may necessitate IT involvement.

10. Looker

Looker is another business intelligence tool to look out for! Now part of Google Cloud, this unique platform integrates with any SQL database or warehouse and is great for startups, midsize businesses or enterprise-grade businesses. Some benefits of this particular tool include ease of use, handy visualizations, powerful collaboration features (data and reports can be shared via email or URL as well as integrated with other applications), and reliable support (tech team).

Pros:

Integration with SQL databases and warehouses.
Ease of use and collaboration features.
Strong visualizations and reporting.
Support and integration with Google Cloud.

Cons:

Pricing models may not suit all budgets.
Customization may require technical expertise.

11. Clear Analytics

This is for all of the Excel-lovers out there… This BI tool is an intuitive Excel-based BI Tool that can be used by employees with even the most basic knowledge of Excel. What you get is a self-service Business Intelligence system that offers several BI features such as creating, automating, analyzing, and visualizing your company’s data. This solution also works with the aforementioned Microsoft Power BI, using Power Query and Power Pivot to clean and model different datasets.

Pros:

Excel-based, user-friendly BI tool.
Self-service BI features for basic users.
Integration with Microsoft Power BI.
Data cleaning and modeling capabilities.

Cons:

Limited advanced analytics features.
May not be suitable for large-scale enterprises.

12. Tableau

Tableau is a Business Intelligence tool specialized in data discovery and data visualization. With the BI Tools, you can easily analyze, visualize, and share data without IT having to intervene. Tableau supports multiple data sources such as MS Excel, Oracle, MS SQL, Google Analytics, and Salesforce. Users will gain access to well-designed dashboards that are very easy to use. Additionally, Tableau also offers several standalone products, including Tableau Desktop (for anyone) and Tableau Server (analytics for organizations), which can be run locally, Tableau Online (hosted analytics for organizations), and many more.

Pros:

Specialized in data discovery and visualization.
User-friendly dashboards.
Integration with multiple data sources.
Multiple product options for different needs.

Cons:

Can be expensive for small businesses.
Some features may require expertise to be used effectively.

13. Oracle BI

Oracle BI is an enterprise portfolio of technology and applications for business intelligence. This technology gives users pretty much all business intelligence capabilities, such as dashboards, proactive intelligence, ad hoc, and more. Oracle is also great for companies that need to analyze large data volumes (from Oracle and non-Oracle sources) as it is a very robust solution. Additional key features include data archiving, versioning, a self-service portal, and alerts/notifications.

Pros:

Comprehensive enterprise portfolio for business intelligence.
Robust data analysis and dashboards.
Integration with various data sources.
Data archiving and versioning.

Cons:

Complexity and setup may require technical skills.
Licensing costs can be substantial.

14. Domo

Domo is a completely cloud-based business intelligence platform that integrates multiple data sources, including spreadsheets, databases, and social media. Domo is used by both small companies and large multinationals. The platform offers micro and macro-level visibility and analyses (including predictive analysis powered by Mr Roboto, their AI engine). From cash balances and listings of your best-selling products by region to calculations of the marketing return on investment (ROI) for each channel. The only setbacks with Domo are the difficulty in downloading analyses from the cloud for personal use and the steep learning curve.

Pros:

Cloud-based platform for multiple data sources.
Micro and macro-level visibility and analysis.
Predictive analysis with AI capabilities.
Suitable for both small and large businesses.

Cons:

Learning curve for some features.
Cloud-based analysis accessibility may vary.

15. IBM Cognos Analytics

Cognos Analytics is an AI-fueled business intelligence platform that supports the entire analytics cycle. From discovery to operationalization, you can visualize, analyze, and share actionable insights about your data with your colleagues. A great benefit of AI is that you are able to discover hidden patterns because the data is being interpreted and presented to you in a visualized report. Keep in mind, however, that it can take a while to get familiar with all of the features within this solution.

Pros:

AI-fueled business intelligence platform.
End-to-end support for the analytics cycle.
Visualized reports for actionable insights.
AI-driven discovery of hidden patterns.

Cons:

May take time to learn all features.
Licensing costs can be a concern for some.

Conclusion

In the data-centric business landscape, Business Intelligence Tools are indispensable for making informed decisions and gaining a competitive edge. The top 15 BI tools mentioned in this article vary in terms of features, ease of use, and pricing, ensuring that there's a suitable option for every business, regardless of its size and specific requirements.
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As the Business Intelligence industry continues to grow and evolve, staying up-to-date with the latest tools and trends is crucial for any business aspiring to thrive in a data-driven world. Whether you choose SAP Business Objects for its comprehensive capabilities or opt for Datapine's user-friendly approach, the right BI tool can transform your data into actionable insights, propelling your business toward success in 2024 and beyond. Embrace the power of Business Intelligence Tools, and watch your business thrive in the data-driven era.

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