How to Choose the Right Business Intelligence Tool?
Table of Contents
- jaro education
- 11, August 2023
- 3:00 pm
What is Business Intelligence (BI)?
This is a commonly raised question by people interested in business analytics and related topics. It is a process driven by technology that analyses data and delivers actionable information. This process combines different business intelligence tools to help workers, executives, and managers to make informed decisions. Business intelligence tools or BI tools connect users to the raw data, allowing them to analyse, model and report on diverse data effortlessly. These tools, through visualisation and automation, ought to enhance the decision-making processes and give a better knowledge of an organisation’s key metrics sources of those indicators.
If you are keen to learn about business analytics and different business intelligence platforms, then you can take part in the Executive Program in Business Analytics at the Adani Institute of Digital Technology Management. This is a one-year program where candidates can learn about different business intelligence tools and programming languages. Register with Jaro Education to get further details about this course.
Choosing the right business intelligence (BI) tool
Various business intelligence tools are available that help people in an organisation make informed decisions. However, anyone assigned to choose a BI tool must check the product features and conduct market research. To find the right tool, people should also check whether the product features align with the business requirements.
The size and growth of a company are also important factors to consider when choosing a BI tool. For instance, lightweight tools and cheaper software are appropriate for a small enterprise to manage less data variety and volume.
Another important aspect is use cases. For instance, a logistics organisation may prioritise different BI features than a digital marketing company more concerned with gathering information or evaluating user engagement.
When training new users, a simple business intelligence tool with fewer features will be easy to learn and more economical. If an end-user is well-versed in BI technology, then more sophisticated business intelligence tools are appropriate.
Many organisations find difficulties in analysing data due to the underlying ETL/ELT procedures’ quality and the amount of data warehouse integration. For this, the centralised repository should be an accessible, consolidated and accurate data source. In fact, when choosing the right BI tool, it is not necessarily selecting the best technology but rather ensuring that the operational data systems are reliable from the start.
Groups of business intelligence tools
- Analyst-focused business intelligence tools
- Business-user-focused business intelligence tools
Analyst-focused business intelligence tools
As the name suggests, analyst-focused BI tools are used by the analytics team. These tools empower the analytics team to be data explorers rather than becoming database maintainers. In cases when business users are unable to know the appropriate questions, data analysts inquire more thoroughly using programming languages like Python, SQL or R.