Massive amounts of data are circulating these days. In fact, recently released figures indicate nearly 330 million terabytes of data are created every day, and that number is expected to grow moving forward. Businesses can use much of this data to their advantage, processing it to learn about consumer behaviors, purchasing trends, and product demands among other important aspects. Quite a bit of digital information can help companies improve their internal workflows to boost productivity and efficiency. Those are only a few of the possibilities.
That being said, not all the data being created is useful right out of the gate. It needs to be processed, combined with other information, and transformed into understandable formats. Companies need advanced tools to help them to garner the right data at the right times and convert it into truly insightful information. That’s where business intelligence software comes into play. Companies that are looking for BI software options can read on to learn more about them.
What Is BI Software?
Business intelligence tools are designed to help businesses make better use of important data. They gleans information from various sources and transform it into useful information. They basically create order from chaos. This type of software can create charts, graphs, reports, and other resources to give companies valuable insight.
A few types of BI software are available. Traditional solutions tend to be more advanced, and they’re suitable for larger businesses. Taking full advantage of them generally requires diverse in-house IT teams. Self-service BI software is less difficult to use, and it offers more user-friendly features. Solutions in both categories can be customizable, and versions of each can offer mobile functionality.
Exploring Different BI Solutions
Several BI solutions are on the market. They offer different features and levels of functionality and are suited to varying business needs. Take a look at some of the options at businesses’ disposal.
- Domo – Domo offers more than 1,000 available cloud connectors, customizable features, AI, and machine learning to name a few of its features. It can be integrated with existing business software, and it automatically suggests data visualizations for its users. Though it’s a user-friendly platform, it’s also among the more complex options, so it’s made more for experienced users.
- Power BI – Created by Microsoft, Power BI is a bit easier to use than some of its counterparts, but it’s not made for beginners. It offers real-time trend tracking and compatibility with numerous other software systems. It can draw data from a range of sources and allows users to arrange and present their information in several ways.
- Tableau – As another leading BI tool, Tableau offers user-friendly features and extensive functionality. It also allows for in-depth analytics and reporting. It gives users advanced forecasting capabilities and numerous ways to improve their workflows and business strategies. Simple but secure access is also one of its strong suits.
Those are only a few of the available BI solutions. Some of the other highly touted options include Sisense, Qlik Sense, Looker, and MicroStrategy. With so many tools available for business intelligence, companies can find options that meet their needs and goals.
Harnessing the Power of Data
Today’s businesses need ways to harness all the data at their fingertips and use it to their benefit. BI solutions are the answer. Companies should consider their needs, budgets, existing IT infrastructure, and many other factors to help them choose the best BI software for them. With the right tools and information on hand, businesses can enjoy improved efficiency, customer relations, and sales among other advantages.
