Top 15 Business Intelligence Tools in 2024 : A complete guide

We have rounded up the top 15 Business Intelligence tools to make your search for the best tools much easier.

Every business generates truckloads of data, and it would be a travesty if it were not used to gain deep insights about itself. Using business intelligence tools, you can capture your data and present it in an actionable way, which will pave the way for data-driven decision-making. There are great tools to help you with analytics, but which is the best? Clearly, they can’t all be number one, right?

You just need to find the one that best suits your particular business needs. So, the question that comes to our mind is, “What are the top business intelligence tools?” While I don’t think you can really put it as a list per se, I will try to give you what I think are the top 15 tools for business intelligence. There is no way you will get every tool to make an official list, so I will just do a top 15 that comes from my experience and knowledge.

What is Business Intelligence Tools?

Business Intelligence tools enable businesses to track and monitor their performance against set goals and targets. Dashboards and reports visually represent performance metrics, allowing stakeholders to quickly identify areas of concern or success and take appropriate actions accordingly. Besides, most organizations often have data scattered across various systems and databases. BI tools help in integrating and consolidating data from different sources, creating a unified view of the organization’s data. This enables organizations to analyze data holistically and gain comprehensive insights.

Impacts of Business Intelligence Tools on Businesses

Business intelligence tools significantly impact organizations across various aspects of their operations. Here are some key impacts of BI tools on organizations:

1. Informed decision-making:  Business Intelligence tools provide organizations with access to accurate and timely information, enabling them to make informed decisions based on data and insights.
2. Improved operational efficiency: BI tools help organizations identify inefficiencies, bottlenecks, and areas for improvement within their operations. By analyzing data and performance metrics, organizations can streamline processes, optimize resource allocation, and enhance operational efficiency.
3. Enhanced strategic planning: BI tools provide organizations with valuable insights into market trends, customer behavior, and competitive landscape.
4. Enhanced performance tracking and monitoring: Business Intelligence tools enable organizations to monitor and measure key performance indicators (KPIs) in real-time. This allows them to track progress, identify deviations from targets, and take corrective actions promptly.
5. Improved customer understanding and satisfaction: BI tools help organizations analyze customer data, including purchasing behavior, preferences, and feedback. This deep understanding of customers enables organizations to tailor their products, services, and marketing strategies to meet customer needs more effectively.
6. Competitive advantage: Business Intelligence tools provide organizations with a competitive edge by enabling them to analyze market trends, identify emerging opportunities, and respond quickly to changes.Risk management: BI tools assist organizations in proactively identifying potential risks and mitigating them. By analyzing data and patterns, organizations can detect anomalies, identify areas of risk, and take appropriate measures to prevent or minimize negative impacts.

Let us look at the Top 15 Business Intelligence Tools in the Market:

1. Microsoft Power BI

Microsoft Power BI remains a leading BI tool in 2024, allowing users to analyze and visualize data from both local and cloud sources and publish reports to the BI platform.There are exciting features like visual-based discovery, interactive dashboards, data preparation, augmented analytics, etc. Unlike most of its competitors, which offer access only on the web, with PowerBI, you can download the software and run analytics in the cloud or through a reporting server.

It has a 60-day trial period that you can use before you make a decision. Power BI is free and fully functional for a single user. The next version is called Power BI Pro, which supports collaboration between different users and real-time data analysis.

Key Features:

• Real-time Data Processing: Power BI provides real-time dashboards and reports, ensuring that decision-makers have access to the latest data.
• AI-Powered Insights: With built-in AI capabilities, Power BI offers predictive analytics and natural language querying, making it easier to uncover insights.
• Customizable Dashboards: Users can create highly customizable dashboards with a drag-and-drop interface.
• Integration: Strong integration with Microsoft products and a wide range of third-party applications.

Microsoft Power BI Tool Best For:

Small to large enterprises, particularly those already invested in Microsoft products.

Pricing:

Power BI Tools offers a free version with limited features, while the Pro version starts at $9.99 per user per month. Pricing for other plans may vary based on features and capacity.

Website: Microsoft Power BI

2. Tableau

                                                                                                               Source: Tableau

Tableau is one of the most popular Business Intelligence tools in the market right now; you can run its software on-premises, use the public cloud, or fully host it on the tool itself. Tableau has different versions for a variety of industries. Some of its capabilities include analysis of surveys, time series data, mapping, cleaning, and curation of data sources. It uses AI techniques of natural language processing, allowing users to describe what they want to see instead of using formulaic queries. Tableau is great for midsize and large enterprises.

Key Features:

• Advanced Visualizations: Tableau offers a wide range of visualization options, from simple charts to complex graphs.
• In-memory Analytics: Tableau’s in-memory processing allows for fast data analysis and visualization.
• Data Blending: Combine data from different sources for comprehensive analysis.
• AI-driven Analytics: Tableau’s AI capabilities, including Explain Data and Ask Data, help users explore their data with minimal effort.

Tableau Best For:

Businesses of all sizes, particularly those with a focus on data visualization.

Pricing:
Tableau offers a subscription model, starting at $70 per user per month for the Tableau Creator license. Pricing varies based on the type of license and deployment options.

Website:  www.tableau.com

3. Oracle Analytics Cloud

Oracle Analytics business intelligence tool was launched in 2014, and in 2020, they added a cloud HCM offering which will also provide self-service workforce analytics to analysts, C-suite executives, and HR executives. Oracle’s cloud offering is user-friendly and intuitive, and has powerful reporting and machine learning features. Some of the attractive features it possesses are visualizations, data connectors, data preparation, a native mobile app, predictive analytics, conversational analytics that supports natural language queries, and embedded analytics support.

Key Features:

• Comprehensive Data Integration: Oracle Analytics Cloud offers seamless integration with various Oracle products and other third-party data sources, ensuring a unified analytics experience.
• Advanced Machine Learning: The platform includes built-in machine learning capabilities, allowing users to build, train, and deploy models directly within the tool.
• Natural Language Processing (NLP): Users can interact with their data using natural language queries, making data analysis more intuitive.
• Scalability and Performance: Oracle’s cloud infrastructure offers the platform high scalability and performance, handling large data sets efficiently.

Oracle BI tool Best For:

Large enterprises, particularly those already utilizing Oracle’s suite of products and services.

Pricing:

Oracle Analytics Cloud offers a flexible pricing model, typically starting with a free trial. Enterprise pricing depends on the configuration and usage, with detailed quotes available upon request.

Website:  Oracle Analytics Cloud

4.  SAP Business Intelligence

SAP Business Intelligence is enterprise-level business intelligence software designed for open client/server systems. Applications developed using SAP can integrate with any system, offering highly flexible and transparent business operations. It follows a modular concept for easy setup and efficient space utilization. SAP BI presents data to users in an easy-to-understand format.

Its BI and ERP systems are easily integrated and function as a single unit. The system uses built-in performance optimization technology and a comprehensive lifecycle management approach. Thanks to its service-oriented architecture, SAP Business Intelligence is easily scalable, making it suitable for startups as well as multi-billion-dollar organizations.

Key Features:

• Unified Platform: Combines BI, planning, and predictive analytics into one cohesive platform.
• In-memory Computing: Leverages SAP HANA’s in-memory computing for real-time analytics.
• Collaboration Tools: Built-in collaboration features enable teams to work together on data-driven projects.
• Advanced Analytics: Incorporates AI and machine learning capabilities for predictive analytics.

SAP Business Intelligence Best For:

Large enterprises, particularly those already using SAP’s suite of products.

Website:  SAP Business Intelligence

5. Oracle Hyperion

Oracle Hyperion delivers an integrated suite of applications featuring web and MS Office interfaces, mobile information delivery, reporting tools, and administration. It addresses your requirements across the entire spectrum of operational planning, master data management, consolidation, and close processes. The platform connects data across your organization, enabling you to build forecasts and use scenarios based on changing conditions. With its built-in advanced analytics, Oracle Hyperion empowers you to make better, data-driven decisions.

Key Features:

• Financial Planning and Budgeting: Hyperion offers robust financial planning and budgeting capabilities, allowing organizations to create detailed financial models and forecasts.
• Financial Consolidation: The platform provides advanced tools for financial consolidation, ensuring accurate and timely reporting of financial data across multiple entities and departments.
• Scenario Modeling: Hyperion enables scenario modeling, allowing businesses to test different financial outcomes and make informed decisions based on various scenarios.
• Compliance and Reporting: The tool ensures compliance with regulatory requirements by providing comprehensive reporting capabilities, including audit trails and financial statements.

Best For:
Large enterprises, especially those with complex financial processes and a need for detailed financial planning, consolidation, and reporting.

Pricing:
Oracle Hyperion typically offers enterprise-level pricing based on the specific needs and configuration of the organization.

Website: Oracle Hyperion

6. SAS Business Intelligence

It allows users to leverage data and metrics which helps you make important decisions. The users have a lot of customization options available to them and it ensures high-level data integration, advanced analytics and reporting. Some of the other features include sentiment analysis that is used to understand the sentiment of users from social media and other places. Used mainly in larger organizations, it generates charts automatically, indulges in mapping and self-service data preparation.

Key Features:

• Advanced data analytics and visualization tools.
• Real-time data processing and reporting.
• Integration with various data sources and enterprise systems.
• Strong support for predictive analytics and AI-driven insights.

SAS Business Intelligence Best For:

Large enterprises with complex data analytics needs.

Visit:  SAS Business Intelligence

7. Domo

This Business Intelligence(BI) solution comprises multiple systems that are featured on this platform, which starts from connecting the data and completing it by extending data with pre-built and custom apps from its store. Like most tools for business intelligence, you can connect the data across your enterprise and leverage its AI and machine learning capabilities. It is possible to connect with more than 1000 pre-built cloud connectors, work on-premise, upload files, proprietary systems, etc. As soon as you upload your data source, you will be able to see it presented in the form of charts, graphs, and other types of visualizations. The Domo App Store is an ecosystem of pre-built apps, dashboards, connector APIs, etc.

Key Features:

• Cloud-native platform with strong data integration capabilities.
• Customizable dashboards with drag-and-drop functionality.
• Real-time data updates and notifications.
• Extensive library of pre-built connectors for various data sources.

Pricing: Contact Domo for pricing.

DOMO Best For: Businesses of all sizes looking for a scalable, cloud-based BI solution with real-time capabilities.

Visit: Domo

Read more: 6 Best Practices To Use DOMO The Right Way

8. Metric Insights

This enterprise BI portal offers content organization, content distribution under one point of access, anomaly detection, and more. Users can search and find relevant BI content that helps them find the right information. The portal consolidates metrics, KPIs, dashboards, reports, etc., in one place.

One of the most interesting features of this tool is its ability to manage alerts and ensure that one can act upon triggered data. Users can also create user-designed pages which feature highly relevant data. It offers integration with Slack and Microsoft Teams chatbots to make automation possible.

Key Features:

• KPI Monitoring: Metric Insights allows users to monitor key performance indicators (KPIs) in real-time, providing alerts when data points deviate from expected ranges.
• Data Integration: The platform integrates with various BI tools and data sources, enabling users to combine disparate data sets into a unified view.
• Threshold Alerts: It offers threshold-based alerts that notify users when metrics exceed or fall below predefined limits, ensuring that critical changes are addressed immediately.
• Customization: Metric Insights allows for extensive customization, including personalized dashboards and report views tailored to individual user needs.

Metric Insights BI Tool Best For: 

Organizations of all sizes that require comprehensive KPI monitoring and alerting capabilities to ensure critical metrics are continuously tracked and managed.

Visit:  Metric Insights

9. Microstrategy

Microstrategy BI platform focuses on federated analytics, hyperintelligence, and cloud solutions. Users can build interactive books of analytics that render on iOS and Android devices. Microstrategy’s Hyperintelligence feature pulls data from various sources and provides relevant insights. It even provides contextual insights; all you need to do is hover over the data.

Microstrategy also offers mobile deployment, thereby allowing users to take advantage of existing reports, dashboards, real-time visualizations, code-free app development, design, and more. Thanks to its natural language processing abilities, voice technology can also be integrated. Its range of solutions delivers scalable, secure, and extensible cloud solutions that meet business requirements.

Key Features:

• Data Discovery: MicroStrategy offers intuitive data discovery tools that allow users to create interactive dashboards and visualizations without requiring extensive technical expertise.
• Advanced Analytics: It supports advanced analytics, including predictive modeling and machine learning, helping organizations make data-driven decisions.
• Scalability: MicroStrategy is designed to scale from small departmental deployments to large, enterprise-wide installations, capable of handling vast amounts of data and users.
• Mobile BI: MicroStrategy’s mobile app provides access to BI content on the go, enabling users to interact with dashboards and reports from their smartphones or tablets.
• HyperIntelligence: A unique feature of MicroStrategy, HyperIntelligence provides contextual insights by embedding analytics directly into everyday applications like email, CRM, and web browsers.

Microstrategy BI platform Best For:
Large enterprises that need a scalable, feature-rich BI platform with advanced analytics capabilities and mobile support.

Visit: Microstrategy

10. QlikView

Source: Qlik view

QlikView is  one of the Business Intell applications offered by Qlik. Built on top of an Associative Engine, it allows for data discovery without having to use query-based tools, which results in better output and reduces the risk of data loss. The Associative Exploration feature is based on simple selection and search functions, which allows for easy operation by people of all levels of experience.

During the data exploration process itself, dashboards and guided analytics are highlighted for the user’s benefit. The Associative Engine combines all the data sources you have without any differences and updates with each click in the interface.

Key Features:

• Associative Model: QlikView’s unique associative model lets users explore relationships in data that traditional query-based tools might miss. This model enables users to make discoveries that could lead to deeper insights.
• Interactive Dashboards: QlikView provides highly interactive dashboards that users can customize to their needs. These dashboards allow for quick data exploration and visualization.
• In-Memory Processing: QlikView leverages in-memory data processing, which means that it loads entire datasets into memory, allowing for fast querying and analysis.
• Self-Service BI: QlikView is designed for self-service BI, empowering business users to create their own reports and analyses without needing extensive IT support.
• Data Integration: QlikView integrates data from multiple sources, providing a consolidated view that supports comprehensive analysis.

QlikView BI Tool Best For:

Organizations that need a powerful, flexible BI tool that supports self-service analytics and provides an associative model for in-depth data exploration.

Pricing:
QlikView offers a perpetual license model, where customers pay a one-time fee. The cost typically varies based on the number of users and the specific needs of the deployment. Qlik also offers subscription-based pricing for its cloud offerings.

Visit: QlikView

11. Dundas BI

Dundas is used mainly for creating dashboards and scorecards but can also perform standard and ad hoc reporting. The data is analyzed and visualized through a web interface that adapts to the user’s abilities. Some of its newest features are an in-memory engine, much improved natural language query capability, Linux support, point-and-click trend analysis, and the ability to make customized applications. It provides an immersive mobile experience where you can analyze advanced data on mobile devices.

Key Features:

• Customizable Dashboards: Dundas BI offers highly customizable dashboards that can be tailored to fit unique business requirements. Users can create interactive visualizations with drag-and-drop ease, making building reports highlighting key metrics simple.
• Advanced Data Integration: Dundas BI supports integration with various data sources, including databases, web services, and file-based data. This enables users to create a unified data view for comprehensive analysis.
• Data Preparation: The platform includes robust tools for users to clean, transform, and shape data before analysis. This ensures that insights are derived from accurate and consistent data.
• Embedded Analytics: Dundas BI can be embedded into other applications, offering seamless analytics capabilities within existing workflows. This is particularly useful for organizations that want to enhance their own software products with BI features.
• Real-Time Data Analytics: Dundas BI provides real-time analytics capabilities, allowing users to monitor and analyze data as it changes. This feature is essential for businesses that need to make quick, informed decisions based on current data.

Dundas BI Tool Best For:

Organizations that require a highly customizable BI solution with strong data integration capabilities, especially those looking to embed BI within their own applications.

Visit: Dundas BI

12. GoodData

This BI tool provides tools for storage, data ingestion, visualization, analytics queries, application integration, and more. Its analytics engine can be embedded on a desktop, website, or mobile application. On the analytics front, you can scale as much as you want. This can be done with a wide range of customizations that allow customers to publish their reports and dashboards.

GoodData provides an open platform for developers to provide frameworks that allow you to integrate it with existing data. It offers additional services and support for the complete data and analytics lifecycle, which includes development, testing, launch, and maintenance.

Key Features:

• Embedded Analytics: GoodData excels in embedding analytics into other applications, allowing businesses to offer custom, white-labeled analytics to their clients or internal users. This feature is critical for organizations that want to provide data insights without needing separate BI tools.
• Comprehensive Data Integration: GoodData supports many data sources, including databases, cloud storage, and APIs.
• Advanced Analytics: The platform offers advanced analytical capabilities, including predictive analytics and machine learning models. These tools help users uncover deeper insights and anticipate future trends.
• Customizable Dashboards and Reports: GoodData enables users to create highly customizable dashboards and reports tailored to the specific needs of different organizational users. The platform’s user-friendly interface makes it easy to design and share reports.
• Multi-Tenancy Support: GoodData’s multi-tenant architecture allows multiple users or clients to share the same application instance while keeping their data separate. This is especially useful for SaaS providers who want to offer analytics to their customers.

Best For:
Companies looking to enhance their existing applications with embedded analytics or those in need of a scalable, cloud-based BI solution that can grow with their business.

Visit: GoodData

13. Board

Board is a BI tool that combines BI, corporate performance management and business analytics. Board uses multiple data sources to create reports. In its unified and user-friendly environment, it offers a comprehensive set of features. They have a revolutionary in-memory technology called HBMP (Hybrid Bitwise Memory Pattern) which provides incredible speed to data visualization as well as the simulation and planning process. Its multi-layer security meets the rigorous security standards of enterprises.

Features:

14. Zoho Analytics

It is a self-service BI and data analytics software which lets you analyze your data and helps you with stunning data visualizations. Zoho’s AI-powered assistant allows users to ask questions and get insightful answers that are presented in the form of attractive reports. It has a spreadsheet-like interface for data addition, analysis and reporting.

It is easy to connect with popular business applications in sales, marketing, help desk, HR, IT, Finance and through more ready made connectors. You can also leverage its powerful data import and integration APIs to build a connector quickly. Zoho Analytics even allows you to blend and merge data from different sources that will help you create meaningful business reports.

Visit:  Zoho Analytics

15. Yellowfin BI

Yellowfin BI analytics tool offers a plethora of features and has five main products to connect, transform and understand the data that your business holds. They are specialized in enterprise analytics, embedded analytics, and analytical application builders. Yellowfin automatically detects trends or any anomalies in your data, thanks to its powerful algorithms, it will immediately send personalized notifications to your smartphone. It provides persuasive data stories which helps people build data reports.

Visit: Yellowfin BI

Benefits of BI tools for Businesses

1. Enhanced customer intelligence and personalization
2. Regulatory compliance
3. Data security and privacy
4. Fraud detection and prevention
5. Compliance and regulatory reporting
6. Performance tracking and benchmarking
7. Market intelligence and competitive advantage
8. Data integration and consolidation
9. Predictive analytics
10. Self-service analytics
11. Enhanced collaboration and data sharing

Conclusion:

Big data has been a buzzword for quite some time and its relevance is only going to increase every year. With the help of Business Intelligence tools, your data management will improve. Going the manual route is not only passé, but it is also highly ineffective if you are serious about leveraging your data. BI tools also keep dynamically changing based on your business requirements and the prevailing market conditions.

If you want to build a dashboard that will change how your business uses data, Zuci Systems can offer its data visualization consulting services and become your reliable partner. Let us make your business more efficient and smarter and put you in the best position to keep achieving your business goals.

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