With the speedy emergence of technology and its influence into business, there is a lot of high emergence in of technological tools influencing the business, which deliver more advanced and relevant business info to enhance business results. The modern-day business intelligence or BI tools are largely useful to identify the user behavior, enhance the visibility of your business, and also help run it more efficiently. These tools also help to collect relevant data from various dynamic sources and help the users to make more effective decisions. In this article, we will further discuss the BI tools as well as their significance in effectively managing the modern-day businesses.
A few things beginners need to know about BI
- Business intelligence is actually a collection of software which is effectively used to support the business decision making with the use of analytics.
- In technical terms, Business Intelligence could be interpreted as processing and analysis of a huge volume of data (Big Data) and converting it into insightful business decisions for better performance.
- An ideal business intelligence environment now comprises of various data models, business approaches, and many ETL tools which help organize and better transform data into usable information.
- BI also uses some of the complex data sets which include both structured and unstructured data, which otherwise will be so difficult to produce and analyze using the traditional data management tools.
- Data warehousing is a subject-oriented system which is a large integrated system that is used for analyzing and reporting the data for effective decision making.
- Data mining is also an essential part of the process to apply the most advanced statistical methods and analytical techniques to handle a huge amount of data which could turn the information into useful relationships and patterns by using the conventional relational databases too.
As a result of the above developments in the business intelligence spectrum now, it is also suggested by RemoteDBA that there are many further terms in case of many different business solutions as:
- Getting a quick and easy solution for complex business decision making.
- Properly align the business activities as per the corporate tactics and strategies.
- Empowering the employees with the help of business data analytics.
- Reduction in terms of data management time
- Get a proper insight into customer behavior.
- Recognize all crucial areas of data and cost estimation.
- Enhancing business output and productivity
Challenges in implementing business intelligence
Even though many organizations are looking forward to implementing BI technologies and tools, which are also proving out to be so useful in their operations, there are many challenges too while enterprises are trying to implement it. Some of these major challenges in terms of Bi implementations are:
- Now, there is a huge volume of data generated each hour which is not so easy to gather and effectively handle.
- Lack of adequate strategy in terms of data management and business practices is also a drawback.
- The user adoption which is guiding the user groups in various ways. It is also a fact that the users donot want to change the current practices by finding it more time-consuming.
- Change management becomes difficult for the user to manage effectively.
- Managing the non-transactional data also is a challenge, which needed to be addressed effectively to handle big data well.
- The challenge of data governance the enterprise level is a huge challenge.
- Effectively bridging the connection gap between business users and IT platforms is a big challenge.
- Handling information access for a range of business users is a big challenge.
- Customization and security integration is another big area of challenge.
The top tools for Business Intelligence
As we have seen above, BI tools the software applications which can read and process business data which are stored in the warehouse. All these BI tools can help to analyze and retrieve the stored data and create some useful insight form the manageable dashboards by generating BI reports. Now, let’s explore some of the top BI tools.
- SAS is one of the most popular proprietary BI tools which could help businesses to get the right information at the right time to the right users.
- SAS can also help provide a top-quality connection between different data sources and users.
- SAS will also help protect business data with all type of security threat identification and also the instant resolution of problems.
- SAD can also support a centralized approach to governance, metadata, data visualization, and scalability etc.
- It will also provide real-time analytics for users to do self-service reporting.
Birst is another popular and free BI tool, which is primarily a SAAS BI platform which can handle data management, business analysis, and insightful reporting of data. The innovative BI tools are the following features handy:
- It is very simple for the users to automate the data warehousing process and can also integrate the data into a single location from many input systems.
- There are easy to use point and click features for analytics and business report generation on Birst.
- It also features better performance compared to traditional business intelligence tools for faster performance and quicker decision making.
- The Hadoop architectures offer high concurrent analytics and faster performance.
WebFOCUS is not open source, but a proprietary tool which is sold commercially, but has a handful of good tools to provide the users with the apt information.
- WebFOCUS offers a very solid solution which his easy to compile and manage in terms of data management.
- It can be used to deliver the data to the organizations, clients, as well as managers through the most featured InfoApps.
- There is also an advanced data integration analytics and point-to-click access.
- It also consists of some of the most popular apps, like RSat, InfoDiscovery, and ReportCaster, etc.
Some of the other best choices include, but not limited to BusinessObject, IBM Cognos, MicroStrategy, Pentaho, Microsoft BI, Oracle B, SAP BW, Oracle Hyperion, Qlik and QlikSense. Tableau, Board, Sisense, Yellowfin BI, etc. to name a few.