Top 10 Business Intelligence Tools of 2020 | by Rashi Desai | Aug, 2020

How to pick which are the right tools to learn for the business.

Rashi Desai

In the rapidly growing world of today, when technology is expanding at a rate like never before, there are plenty of tools and skills to explore, learn, and master. In this digital and data age, Business Information and Intelligence have climbed up the ladder of important business skills to a great extent, if

Business Intelligence can be weighed as important organizational competence these days! Organizations now propel their business far ahead of their competitors by potentially boosting brand awareness, internal engagement, organizational efficiency, and profitability with the help of BI.

The BI and analytics industry is expected to soar to a value of $26.50 billion by the end of 2021

Moreover, companies that use BI analytics are five times more likely to make swifter, more informed decisions. In that case, it

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Business Intelligence Market – Global Market Share, Trends, Analysis and Forecasts, 2020

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What Are The Two Types of Business Intelligence?

Business intelligence is a technology-driven process for analyzing data and preparing actionable information to make data-driven decisions. Business intelligence comprises strategies and technology used by the enterprises for data analysis of business information. Business intelligence technologies can handle large amounts of structured and unstructured data to identify, develop and create new strategic business opportunities. They aim to allow for the easy interpretation of these big data to identify new opportunities and implementing an effective strategy based on insights that can provide businesses with a competitive market advantage and long-term stability.

 

Types of Business Intelligence

There is a cloud of debate among decision makers in business to choose the type of business intelligence they should adopt. When managers have a good idea of what they wish to analyze sales figures or customer satisfaction stats but they are not aware of the end results then most preferred tool is strategic business intelligence

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See Beyond The Noise For The Business Intelligence You Need To Exceed The Results You Want

From monk to COO, Jay leverages behavioral, operational & EQ intelligence to help leaders & their teams win more. WinThinking.com

Shen is an aspirational CEO. He believes his people should figure out how to do their jobs on their own. He did. His leaders do. Why shouldn’t they? Many in the company are new — less experienced, skilled and confident. They need more direction and support than they’re getting.

Shen doesn’t see he has a fragmented us-them culture. Seasoned executives can work on their own. Others can’t yet. What’s the cultural fallout? Sixty unexpected hours spent by his directors to correct mistakes workers shouldn’t have made. The Shen Show has become a boring circus act.

Rosalinda is a chief client services officer. To grow client billing, she has to work across different service arms: accounts, analytics, finance and marketing. These teams aren’t reacting fast enough and creatively enough to

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How Business Intelligence is helping businesses navigate a crisis

  • A report of 500 companies shows Business Intelligence tool usage has risen amid COVID-19 crisis
  • It demonstrates how data insights can provide business clarity in a period of market uncertainty
  • Findings may also points towards better utility of tools and solutions, as organizations take stock of their toolboxes

Businesses are under pressure to prove themselves ‘data-driven’ today, and really, there is little excuse not to be. Where leaders of the past had to rely on gut instinct, the advice of peers, news reports, and customer surveys and the like, today’s enterprises generate data by the minute, all which holds holds valuable, strategy-shaping insight.

Of course, combing through this vast mass of data – generated, collected and stored across various departments and databases throughout the business – is the key challenge, and one that Business Intelligence tools have sought to solve. 

Business Intelligence (BI) strategies and technologies have now been in

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Business Intelligence Market : Industry Analysis, Size, Share, Growth, Trends and Forecast – 2026

The MarketWatch News Department was not involved in the creation of this content.

Aug 09, 2020 (AmericaNewsHour) —
Kenneth Research has published a detailed report on Business Intelligence Market which has been categorized by market size, growth indicators and encompasses detailed market analysis on macro trends and region-wise growth in North America, Latin America, Europe, Asia-Pacific and Middle East & Africa region. The report also includes the challenges that are affecting the growth of the industry and offers strategic evaluation that is required to boost the growth of the market over the period of 2019-2026.

The report covers the forecast and analysis of the Business Intelligence Market on a global and regional level. The study provides historical data from 2015 to 2019 along with a forecast from 2019-2026 based on revenue (USD Million). In 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD

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Top 10 Best Analytical Processing (OLAP) Tools: Business Intelligence

List of some popular Online Analytical Processing (OLAP) Tools:

Business intelligence is growing by leaps and bounds in the current scenario. The predictive analytics market is expected to grow to 10 billion in next 3/4 years.

To meet up the future demands, many software is enhancing their features by implementing complex algorithms, machine learning, and artificial intelligence to improve decision making and make forecasts.

Top Analytical Processing (OLAP) Tools

Before we move on to OLAP tool selection criterion, we must first understand what OLAP is.

Online Analytical Processing

It is a computing approach that answers multi-dimensional analytical queries at a much faster pace and in a smoother manner. OLAP is a unit of business intelligence (BI). It holds the relational database and data mining and reporting features within or in other words, OLAP encompasses RDBMS and data mining & reporting.

OLAP tools give capacity to the user to analyze multidimensional data from multiple perspectives.

All

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Business Intelligence’s impact on driving better decision making

Decision Making Business intelligence

This is a guest post.

Business Intelligence can be interpreted as the technological process for one to scan and inspect raw data for gathering actionable insights and converting that insight into an informed decision for business. Using BI solutions companies are not only able to study their past performance but also predict the future trends.

BI practices are able to increase performance of their activities as they are more focused and data driven, leading to much higher results in performance and outputs. The combination of new generation analytical tools and machine learning has given BI a huge boost to using raw data for insights.

Let’s understand how BI has impacted the business world by allowing for more informed decision making:

Business intelligence software like Microsoft Power BI, comes with interactive dashboards and visualizations options for looking at different components of business in a meaningful way. It increases the understanding of

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Traditional BI Buzzwords for Modern Data Teams

About a year into Chartio, we’d moved into our first real office in the Founder’s Den. Another Denizen came by and said something to the effect of “Oh, you guys are in the BI space…” and then proceeded to drop about a dozen buzz words, only a couple of which I knew. I’d interviewed almost 100 companies about how their data processes and needs but at that point I realized I’d completely missed researching any vendors of the traditional BI market and the incredible amount of jargon that that community comes with.

As it turns out BI is an incredibly jargon filled industry as a result of it being historically so fragmented, with the largest players owning less than 10% of the market [1]. These giant pieces of software took months to install and integrate so trials were few and far between. Deals were won by one sales and marketing

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Benefits of Business Intelligence & Analytics Explained With Use-Cases

Using business intelligence and analytics effectively is the crucial difference between companies that succeed and companies that fail in the modern environment. Why? Because things are changing and becoming more competitive in every sector of business, and the benefits of business intelligence and a proper use of data analytics is key to outperform competition.

For example, in regards to marketing, traditional advertising methods of spending large amounts of money on TV, radio, and print ads without measuring ROI aren’t working like they used to. Consumers have grown more and more immune to ads that aren’t targeted directly at them.

The companies that are most successful at marketing in both B2C and B2B are using data and research to craft hyper specific campaigns that reach out to targeted prospects with a curated message. Everything is being tested, and then the campaigns that succeed get more money put into them, while the

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