Best Business Intelligence Tools 2022 | BI Tools 2022
To succeed in today’s competitive landscape, business owners need to make informed decisions about creating growth and leveraging new opportunities. By using Business Intelligence Tools, teams can ensure that they’re making all the right choices.
The BI landscape (Business Intelligence) uses software and services to transform vast amounts of useful data about business processes and customers into actionable insights.
In a world where data is everywhere, Business Intelligence tools allow business leaders to learn from the trends in their landscape and progress towards their goals.
Business Intelligence systems can feature anything from artificial intelligence systems that provide predictive insights into where your business is headed, to visual graphs and charts.
How Can Teams Use Business Intelligence Tools?
As the marketplace grows more competitive, companies learn that data is the key to remaining economically stable in challenging times. The more you know about your customers, business processes, and the marketplace, the easier it is to reduce waste and increase profit.
Business Intelligence tools collect data sets throughout your business and transform them into findings for teams to leverage.
A BI service might look at your historical sales from the last six months and use artificial intelligence to predict how much stock you will need for the next three months.
Your BI tools also offer reports that show which of your products are performing best, or which teams are the most productive and have the best results.
BI tools come in a variety of styles. Each solution is designed to help teams stop making assumptions and start making informed decisions.
Whether you access a solution that enables you to create immersive data visualizations or a tool with state-of-the-art AI, all of these products will help you run a more effective business.
Here are 3 of the leading options available today.
1.IBM Cognos Analytics
Created by one of the world’s best-known tech companies, IBM Cognos is a cloud-based tool for business intelligence and analytics. Available both on-premise and in the cloud, Cognos Analytics pulls data from every aspect of your business and uses a built-in AI system to recommend the next steps for your company.
The Cognos system creates an interactive dashboard, reports, and visualizations. Moreover, the system can collect data from various environments. Features include:
- Flexible cloud-based intelligence that grows with your business
- Cloud or on-premise functionality with no expertise required for installation
- Dashboards and reports that you can share over the web, email, or Slack
- Imports of data from all background sources
- Machine learning and analytics as means to assess information
With tools like Cognos, companies can discover the efficiency and cost-saving benefits of making informed decisions.
2.Birst
A cloud-based platform for business intelligence and analytics, Birst takes a network analytics approach to supporting teams with essential information. With Birst, you can combine all of the shared data in your enterprise into a unified container.
With an intuitive user interface, gathering information is easy. Additionally, teams can convert the findings they collect into visual charts, dashboards, and convenient, timely reports. The software already has a wide range of customers. Some of the features it offers are:
- Cloud-based business intelligence that scales with your company
- An all-in-one environment for managing scattered enterprise information
- Access on-premise, in the cloud, and over the web
- Data collection from various sources
- Easy-to-use tools for creating dashboards and charts
- Predictive analytics and automated data refinement
Whether you’re looking for automated data refinement, predictive insights, or drag-and-drop projections, Birst has it all.
3. Microsoft Power BI
Microsoft Power BI is probably the best-known business intelligence application currently on the market, and it is popular with companies of all sizes. This business intelligence platform comes with a range of features to choose from, depending on the level of service you choose.
With Power BI, you can transform data into visual graphs and charts, access in-depth analytics, and build interactive reports.
There are customized dashboards to help your teams keep track of your business progress and real-time analytics, allowing you to check your company’s performance at any time. Users of this tool range from small companies to global enterprises. It provides:
- Full web-based intelligence solution with in-depth analytics
- Multiple service options to choose from, depending on your business needs
- Access available from web and mobile devices
- Support for a wide range of data sources in the cloud or on-premise
- Centralized environment for all of your business information
- Real-time visualization available on all devices
Whether you want your system on-premise or in the cloud, Microsoft has something for everyone.
The Future of Business Intelligence
As data continues to emerge as the most valuable resource for today’s businesses, the demand for Intelligence solutions will only increase.
Smart business analytics tools such as Cognos are among some cutting-edge technologies that are ushering in the fourth industrial revolution. Their high level of connectedness through IoT devices, supported by 5G networks and smart analytics provide business with real-time analytics and sufficient insights to make highly accurate predictions.
All of this is bringing unprecedented benefits to businesses across all stages and processes, from product design, supply chain management to optimizing delivery routes.
Companies are already using innovative BI tools to convert large amounts of data into meaningful insights to nurture their growth and enhance their company operations.
In the future, these tools will become even smarter, with more impressive artificial intelligence and machine learning components.
Conclusion
Companies of any size benefit from utilizing Business Intelligence as soon as possible. The quicker companies get started with BI, the sooner they’ll be able to begin cutting costs and increasing profits.
You don’t have to start with intelligent tools right away, either. Many smaller companies start by visualizing the trends in their business operations, moving onto more advanced analytics when it suits them. What matters is that you get on board and become part of Industry 4.0.