Business Intelligence Software is used for retrieving, analyzing, and transforming data needed forbusiness intelligence. The software generates reports of the data usuallyquarterly or yearly and helps companies in the decision-making process. The business intelligence software represents data in interactive dashboards, which is collected from various external and internal sources. The software analyzes numerous types of data like client information, financial data, production-related information, HR information, and contact information. Major benefits of business intelligence software include precise and quick decision making, data visualization, alerts & notifications, and interactive dashboards for collaborative work.
360Quadrants has chosen fewof the Best Business Intelligence Software providers in the market. This assessment helpsbuyers know more about business intelligencesoftware and make the most suitablealternative based on their software needs. All the business intelligence software providers in this evaluation have been evaluatedagainst their products offered and business strategies and were placed on aquadrant, which is updated quarterly. 360Quadrants also offers a SWOT analysis and helps these software providers identify new opportunities and areas of development.
BusinessIntelligence Software Companies Quadrant Positioning
360Quadrants has assessed 51 software vendors thatoffer business intelligence software, out of which 30 were placed on a quadrantunder the categories: Visionary Leaders, Innovators, Dynamic Differentiators, and Emerging Leaders.
SAP Analytics Cloud, Tableau, Power BI, DataStudio, Analyzer, Zoho Analytics BI Software, ActivTrak BI Software, and BoardBI Software have been identified as Visionary Leaders in the Business Intelligence Software market.
CARTO BI, Celonis, Metabase, Sycle, Plotly, QlikView,Reveal, and Prism BI Software have been recognized as the Innovators in theBusiness Intelligence Software market.
Alloy, IDOL, PINpoint, Performax, ArcGIS BISoftware, Inno, and OneView have been positioned as the Emerging Companies inthe Business Intelligence Software market.
Nova, Kato, Stratum, Bouquet, Wolfram Mathematica,FAST, and Ascribe have been identified as Dynamic Differentiators in theBusiness Intelligence Software market.
TopVendors of Business Intelligence Software are –
1. SAP Analytics Cloud –The SAP Analytics Cloud is an AI-powered tool that enables users to makebusiness decisions by accessing all analytics capabilities in one place with a single user experience. The software provides users with instant results and eliminate bias and helps users to take the next best action.
2. Tableau – Tableau is a data visualization platform that helps users’ sort, cleanand analyze data. Users can create interactive dashboard and present their datain an efficient and easy to use manner.Tableau helps stakeholders take quick decision based on the analysis and presented data.
3. QlikView – QlikView offers Qlik Sense an analytical tool. It offers apowerful augmented intelligence and a governed multi-cloudarchitecture that supports a full range of analytics use cases at enterprise scale. It lets analyze data through various channels using powerful global search and selections and smart visualizations. It offers a limitless combination of data from any source irrespective of the size. It indexes every relationship within the data so users can easily discover insights and keep track of data.
4. Zoho Analytics – Zoho Analytics is a self-service BI and data analytics software thatallows users to create visually appealing data visualizations and insightfuldashboards in minutes.It transforms huge amounts of raw data into actionable reports and dashboards and tracks key business metrics, see longtime trends, identify outliers, and unearth hidden insights.
5. ActivTrak – ActiveTrak is a suite providing various analytical capabilities. Itoffers employee monitoring, remote workforce and productivity monitoring. Userscan get intel about their workforces in an easy and efficient manner. It is a cloud-based platform that does not need much of installation. It provides deep insights to stakeholders on which activities are working towards meeting organization goals and which teams are lagging.
6. Atlas – Atlas Systems’BI and Analytics expertise enable users to create, enhance and expand businesscapability through insights driven decision making.Atlas Systems enables organizations of all sizes to gain fast and deep insights to their data and take right actions to ensure future success. Users are equipped to provide full application lifecycle support, including planning, designing, building, deploying, and supporting every stage of the business intelligence process.
7. Bitrix24 – Bitrix24 provides a businessintelligence platform for sales teams. Their platform sales Intelligence helpsusers to evaluate which marketing channel works the best and worth’s money spent.
8. Bouquet – Bouquet provides a unique experiencein data analysis and BI in the form of a chat option. The vision of the companyis to provide an application that can users can user without too much technical know-how. Users can simple ask questions to Bouquet’s personal AI assistant Aristotle and the data will be analyzed and provided through AI and machine learning.
9. Google Data Studio – Google Data studio is an online platform that allows users to createvarious reports. It provides various templates so data can be presented in avisual context. It offers a variety of data reports that can be quickly created and shared with stakeholders in the team.
10. Kato – Kato uses business intelligence, naturallanguage processing and machine learning to create and share data in a simplemanner. It allows users to connect data from various sources and build interactive dashboards.
Impactof Business Intelligence Software on Company Growth
Companiescan tremendously benefit from using business intelligence tools. Asorganizations grow, they generate a huge volume of data. This data contains hidden intel and information that the organization can utilize. However, cleaning, sorting and maintain the data manually is impossible and impractical. Best Business Intelligence software can be utilized to bring out the hidden trends in the data.
BusinessIntelligence Software saves organizations valuable time and resources.Organization need not have MIS teams to handle the volumes of data, each team can manage their own MIS with the help of BI software and provide intel to the stake holders. With BI tools it becomes much easier and fast to identify and spot trends though AI and ML. This can help businesses to invest in areas where there can be profitable growth and cut losses in areas that are not generating revenue.
