Of course, cost is always a major deciding factor when making any investment, and while BI software can be costly, there are pricing options available.
This will narrow down the search, after which you should trial the BI software with your data first. Create a comprehensive list of features your BI software must have, and a list you’d like it to have. In addition to asking all the right questions from your BI supplier, it’s vital that you perform a thorough evaluation yourself. A BI tool is crucial to ensuring that critical information is kept secure, so it’s important to ensure it has encryption and protection, as well as internal security measures such as access control. Recent corporate data breaches have highlighted the incredible risk companies take when they don’t fully protect sensitive data. Everyone from the lower-level employees through to business analysts should be able to benefit from using the BI software. Enquire about usability of the BI software, and whether it has features such as user interfaces or model creation. However, this is not to say that the BI tool should not cater to the more IT-leaning individuals. It’s important to analyse how the BI tool will visualise the data which means questioning the level of design, as well as whether it has machine-learning capabilities.Ī strong technological background should not be a pre-requisite when using a BI tool. The real strength of BI lies in the reporting tool, which is where the accumulated data is formatted into a visual medium, such as graphs, tables, charts and maps.
Once collated, the data might need to be transformed into a usable format. Check that the BI tool is able to access data from a variety of sources, such as your internal or cloud databases, as well as warehouses if relevant to your industry.
The central focus of BI is data management, and it’s the quality of the data that will determine how effective the final reports are. Here are 6 tips for choosing the best business intelligence tools: 1. There are many factors that will need to be considered when deciding on a BI tool. The BI tool reporting will provide data in a digestible visual format that is easily accessible to all employees. Business Intelligence explainedīasically, a BI tool is computer-aided method of transforming raw data into usable information as a way to make informed business decisions. Business Intelligence (BI) tools are the best way to collate data from a range of sources, and extrapolate usable business-enhancing information, but it’s important that you’re choosing the right BI tool for your business. The correct collection and analysis of data can be the key to enhancing profitability and ensuring overall business success. Tips for Choosing the Best Business Intelligence Tools