Business intelligence (BI), tools can be powerful platforms that provide data insight and drive business growth. When choosing the right tool for your company, do not assume all tools offer the same benefits. While many will offer similar core features, such as visualizations, reports, and dashboards, they can vary significantly once you get beyond that.
A business intelligence software might be able to integrate with your company’s data strategy. While would be a better choice, others will require data integration solutions in order to function optimally This is why you need to thoroughly compare multiple BI tools according to your particular needs before you choose the one that will create the greatest value for your company.
1. How responsive is the platform?
The BI tool must offer the kind of performance that improves users’ output through a fast, responsive platform. It is essential that real-time data be available immediately in order to allow users to quickly access it. The tool’s overall utility will be diminished if users are forced to wait for reports to be created or analyses to be completed.
2. Are you able to identify hidden patterns by visually exploring your data?
It allows for more detailed exploration and the identification of hidden patterns by allowing users to view the data visually. This capability should be provided by the BI tool without the need for additional programming or code, so users can visualize data in depth from one interface.
3. Are Automated Reporting Options Available?
Automated reporting and notifications are a great way to make data accessible. You can create reports that will be sent out at specific times. For example, revenue reports could be sent to a sales manager every Monday morning. You can also opt-in to receive notifications such as an email when a sale has been closed. This ensures that all users have access to the most current information. It also supports data integrity within an organization.
4. Is it compatible with current data strategies?
Top BI tools are platform-agnostic and multi-cloud, so they seamlessly integrate with organizations’ existing data strategies. It doesn’t matter if it is deployed from cloud storage or on-premise, the company shouldn’t have to reorganize its data strategies. It should be compatible with enterprise portals and other applications of the company so that users can access it from wherever they are. To allow fast analysis and decision-making, a good BI tool should have optimized native connections to business data.
5. Is it available as a native mobile app?
Modern workers are mobile and distributed, so they require BI tools that can keep up with their speed. It should be possible for users to view trends and connect in real-time data, even when they are offline. Users can also receive push notifications through integrated alerting. This allows them to be more productive and remain connected with their data and other users.
6. Are there additional costs?
Business intelligence tools can have additional costs beyond the list price. To understand the total costs of ownership (TCO), do some research. These expenses could include costs for training, maintenance, and infrastructure. It may not be the right choice for you if BI tools require additional software, or if your costs increase as you scale up.
7. Is It Suitable for Key Users?
BI tools provide many capabilities that can be used for different purposes. These can be used by executives, managers, data scientists, clients and partners as well as customers. Although a single tool may not be flexible enough for every user’s needs, This is why it’s important to consider who has the most impact on the organization and then choose the BI tool that will best suit them.
8. What is it that drives the organization towards its goals?
It is important to establish the goals of the company before choosing a BI platform. This will help you decide which criteria to prioritize in choosing a business intelligence tool. Some companies may want to integrate the platform into their user workflows in order to make analytics and data more accessible to all employees.
Other companies need a platform that provides augmented analytics and data-driven decision-making. You need to understand not only which BI tools are the best overall but also which are best for you.
9. What is the strength of its data governance capabilities?
Any company using a BI tool must be proficient in data literacy and maintain data integrity. This is possible thanks to well-defined data governance capabilities. These capabilities ensure data is used correctly and maintain data quality across the company. The data is managed in a way that facilitates sharing and the use of trusted datasets. Data governance is robust. This means data can be accessed faster by all users, as the IT team no longer manages it.
10. Is It Going to Digitally Transform the Company?
One of the most important things you should be concerned about when evaluating different BI tools is whether it has the right capabilities and features. The Gartner Magic Quadrant BI report provides an independent evaluation. It’s important to consider how these capabilities can transform your company by creating a foundation for long-term transformation and data literacy among users.
This foundation will be influenced by clear data governance, data access, and wide deployment options. A BI tool that meets these criteria is a strong candidate.
Each of the top business intelligence tools, such as PowerBI, Qlik Sense, and Tableau, has something to offer. Careful research is required to ensure you choose the right platform for your users and business. You can identify the best BI tool for your company if you have clear criteria that are based on the company’s needs.