Top 5 Smart Business Intelligence Reporting Software

Data is a crucial asset for modern-day businesses, and according to Business Wire, data analytics boosts decision-making by 5X. Business intelligence tools have become a necessity for companies to unlock their full potential. The following business analytics solutions will help you mine deeper insights.

5 Powerful Business Analytics Software to Consider in 2024

Tableau:

Tableau is a trailblazer business analytics software popular for its user-friendly data visualization capabilities. Its flagship BI platform, Tableau 10.3, is equipped with machine learning and artificial intelligence. The Einstein Discovery feature makes precise predictions and recommendations by leveraging machine learning. Tableau supports multiple data sources, such as PDFs, Google Analytics, Microsoft Excel, etc. It also offers live visual analytics, where users can drag and drop buttons to spot trends in data quickly.

1. Users can leverage the simple drag-and-drop features to create detailed visual reports.
2. It lets the users modify data using different functions like joining, slicing, etc.
3. Tableau dashboards offer a holistic view of data so teams can gather vital information for decision-making.

Alteryx:

Developed in 1997 as a geospatial analytics platform, Alteryx software has now evolved into a sophisticated enterprise-level data analytics platform. Now, it is used for advanced activities of data analysis, ETL, data science, and investigation.

1. Alteryx's "join" tool enables companies to combine multiple and create a parallel workflow. 
2. It enables small businesses to merge multiple data sets and visually present the data through data visualization tools.
3. The business analytics software is equipped with various predictive modeling tools and data investigation functionalities.

Microsoft Power BI:

Power BI is a modern interactive BI and analytics tool from the software giant Microsoft. Its built-in features include data connectors, Excel integration, real-time data access, end-to-end encryption, and AI capabilities. It is one of the cloud-based business software solutions that can ingest data from multiple sources like Oracle and create detailed reports.

1. The business analytics software is a free, interactive tool that allows users to access data and create reports without extensive technical knowledge quickly.
2. It collects data from multiple sources at once and converts it into easy-to-understand, actionable insights.
3. Power BI's Power Query feature unearths required data from numerous data sources and transports them to Excel, allowing data access and cleansing.

QlikSense:

QlikSense is a sophisticated business analytics software offering user-friendly interfaces for touchscreens and high-performance cloud platforms. It is a self-service BI tool with various analytics use cases, like custom and embedded analytics, dashboards, etc.

1. Qlik Sense's self-service creation features simplify building applications and files without writing any scripts. It is beneficial for non-technical users.
2. Its data storytelling feature offers in-context commentary for displayed data analytics visuals that help experts draw valuable insights.
3. Qlik Sense offers interactive and responsive data visualizations that can be used for performing high-end mapping and calculations with Qlik GeoAnalytics, a location-based analytics tool.

SAP Lumira:

Gartner's Magic Quadrant for Analytics and Business Intelligence Platforms 2019 categorizes SAP Lumira as a 'visionary BI tool.' It is a business analytics software by SAP offering rich visualizations like charts, tables, maps, graphs, etc. SAP Lumira seamlessly connects with SAP HANA and collects data for analysis. It is a business analytics software that combines self-service BI discovery, interactive dashboards, and analytical capabilities for providing organization-wide insights.

1. SAP Lumira gives real-time data access to other SAP business software solutions and extends full connectivity to data sources.
2. It promotes storytelling through data analysis and BI visualization.
3. The BI tool gives accurate predictions based on changing market trends.

Final Words:

Several industries, including FMCG, microfinance, retail, healthcare, and education, need smart business analytics solutions to mine valuable insight from large data sets. The five BI tools covered in this article are market leaders destined to prepare your company for the future.