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BI platforms should gather data from all of those sources into one place in order to understand and visualize what’s happening. The goal is to develop a data-driven culture that provides every employee with the ability to identify and act on insights.Īccording to IDG, companies use an average of 400 data sources across their organization to feed their BI capabilities.
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What Should a Business Intelligence Platform Do?Ī business intelligence platform should help your company gather, understand, and visualize your data. With the right BI platform, all of this can happen on the fly, which provides an advantage that no competitor can replicate, because your decisions are fast, accurate, and (most importantly) based on your company’s data - not anyone else’s. run a more efficient business by identifying potential issues before they become larger problems.serve your customers better by learning who they are and what they need, and.make a better product by understanding customer behavior,.From there, data takes on new importance by helping you Modern companies have a lot of data, but they can’t use it well.īusiness intelligence platforms solve this problem by helping your company manage and understand what’s going on with those terabytes of data. Add that to Forrester’s finding that “between 60% and 73% of all data within an enterprise goes unused for analytics” and a pretty clear picture emerges: In 2016, the International Data Group (IDG) found that the average company managed 162.9 terabytes of data. Nowadays, companies manage a lot more data than 19th-century bankers, which makes it more difficult to achieve the “business intelligence” Devens described. The term “business intelligence” was first used by Richard Millar Devens in his 1865 page-turner Cyclopædia of Commercial and Business Anecdotes to describe how a banker gained a competitive advantage by gathering and acting on information before other bankers could. Utilizing data more effectively has always been the core purpose of business intelligence, but BI platforms make this process much more efficient, resulting in a totally new relationship with data. When implemented well, modern business intelligence platforms make your company’s data usable. Why Are Business Intelligence Platforms Important? The purpose of BI platforms is to help companies compete in today’s data-saturated world by turning their data into a competitive advantage. It serves as the backbone of a company’s business intelligence strategy, which is how a company uses information to make better decisions.īut “better decisions” may be putting it a bit lightly. Note: The best cloud BI tools are listed in alphabetical order.A business intelligence (BI) platform is technology that helps businesses gather, understand, and visualize their data. We’ve also included platform and product line names and introductory software tutorials straight from the source so you can see each solution in action.
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To make your search a little easier, we’ve profiled the best cloud BI tools providers all in one place. Choosing the right vendor and solution can be a complicated process - one that requires in-depth research and often comes down to more than just the solution and its technical capabilities. The editors at Solutions Review have developed this resource to assist buyers in search of the best cloud BI tools to fit the needs of their organization.
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Our editors selected the best cloud BI tools based on each solution’s Authority Score a meta-analysis of real user sentiment through the web’s most trusted business software review sites and our own proprietary five-point inclusion criteria. Solutions Review’s listing of the best cloud BI tools is an annual mashup of products that best represent current market conditions, according to the crowd.