Running a successful business with longevity and growing profits year after year takes serious devotion, creativity, and motivation. While these attributes of successful business growth are undeniable, there is also another factor of ongoing success that often goes overlooked or underutilized by businesses-continual analyzation of vital business data and reports.
However, by using powerful business intelligence (BI) software solutions, many business owners and executive leaders are now becoming extremely data savvy. BI solutions can help enrich your understanding of the key data components that contribute to profitability and gain deeper insight into what those numbers mean for your business.
What is Open Source Business Intelligence Software?
Business intelligence software is comprised of numerous applications that all work together in a single system to help you mine, analyze, and report on the key data in your company. BI solutions transform raw data into understandable and actionable information that business owners and leaders can use to help guide decisions and drive business growth forward.
There are two deployments types for business intelligence software, including on-premise and cloud-based.
On-Premise BI Solutions
On-premise BI solutions are set up on site, and will require a large, upfront investment to purchase, install, and maintain hardware within your own company facility. On-site solutions are most ideal for companies with large amounts of highly sensitive data.
Cloud-Based BI Solutions
Cloud-based, or open source business intelligence solutions, offer the same powerful BI tools and features as an on-site setup, but function in a cloud-environment that is easy to access, use, and customize. If your business needs for data analyzation are straightforward, then an open source business intelligence solution is ideal. You can get started with less investment, and easily build upon your solution as your business, and your data needs grow.
Best Open Source Business Intelligence Solutions
Integrating a BI solution into your business can be a very complex undertaking. To simplify the process and ensure you choose the best open source business intelligence solution for your business, you need to make sure you thoroughly scour your options and put diligent research into the problems you need to solve or the key business needs you need to meet by investing in this software. Make a list with key members of your organization, and then compare these top, open source business intelligence solutions.
Birst is an excellent, cloud-based BI solution that offers the same robust features and data functions as an on-site solution does for a yearly business-wide license. Birst provides extensive user support and can even be accessed via mobile apps. Birst also boasts key BI features such as:
- Automated data storage
- Easily accessible, visual analytics and reporting
- Sales, Marketing, Social, and Service analytics
- Predictive analysis and trend indicators
NetSuite endeavors to help companies manage all of their business data needs through a single platform, and provides a comprehensive, cloud-based suite of business intelligence tools and features. NetSuite is a leader in the industry, and offers intuitive, real-time reporting to help businesses stay ahead of any issues that may be identified in such in-depth reporting. This BI solution is simple to implement and easy to scale with their affordable monthly user fees, and has important features like:
- Ad Hoc Analysis
- Customizable, responsive dashboards
- App and Desktop access to reporting tools
- Sales, Marketing, Social and Service analytics
- Trend Indicators
- Secure data and file sharing capabilities
Tableau is a great option for businesses seeking an open source BI solution, and it has gained much popularity among businesses due its powerful reporting tools and ease of use. Tableau is ideal for companies that wish to perform complex analysis and create visually impactful reports that are easy to share with others. Tableau is available for a very affordable yearly business license, which is tailored to your company’s user numbers and needs, and offers features such as:
- Secure file sharing
- Interactive, responsive dashboards
- Yammer analytics
- Predicative analysis
- App and Desktop access to reporting tools and features
An open source business intelligence solution can help you gain deep insight into your company’s current performance and future profitability and scalability. If put in the time and effort to research the options available, and choose the system that best fits your business needs and budget, you will ultimately experience much less frustration in the selection and integration process and enjoy a BI solution that fulfills all your data and reporting needs.