Business Intelligence (BI) Software

What is Business Intelligence (BI) Software?

Business Intelligence (BI) software is a suite of tools organizations can leverage to collect, analyze, transform, and report on business data from internal and external data sources, to guide business decisions, identify issues, uncover market trends, and find new revenue streams. BI software can access and analyze structured and unstructured data from various sources, such as historical or current in-house business data, third-party data, or social media.

BI works by collecting and analyzing business data and transforming that data into insightful reports, graphs, charts, or dashboards to provide companies with insights into their business. In turn, this helps foster data-driven decision-making across the organization. The benefits of BI software include the following:

  • BI software helps organizations analyze data to make informed and timely decisions, enhancing business performance.
  • BI tools automate data processes, reducing time and effort for data analysis, and allowing focus on strategic tasks.
  • BI software ensures data accuracy and consistency, improving the reliability of insights and decision-making.
  • BI software analyzes customer data to provide insights into behavior and preferences, enabling tailored marketing and improved satisfaction.
  • BI tools offer insights into market trends and competitor performance, helping organizations identify opportunities and stay ahead of competitors.

Key Features of Business Intelligence (BI) Software

  • Data Visualization: BI software provides data visualization tools that analyze raw business data and transform it into visual representations that organizations can use to refine business understanding, and make data-informed decisions. BI data visualizations include charts, graphs, animations, infographics, or other types of visualizations.
  • Data Mining: BI solutions provide data mining capabilities that enable companies to extract information from large data sets, and prepare them for processing and analysis.
  • Data Transformation: BI software provides data transformation tools that convert different forms of data from various sources into a human-readable format that the BI system can process.
  • Data Warehousing: BI software offers data warehousing, which is the process of collecting and storing data from multiple sources and consolidating it into a singular data warehouse that can be analyzed by BI tools.
  • Predictive Analytics: BI software (especially platforms that have adopted AI-based capabilities) offer Predictive Analytics tools, which leverage a combination of historical data, data mining, and machine learning to identify patterns and help companies predict future behavior.
  • Augmented Analytics: BI software provides augmented analytics, which leverages Machine Learning (ML) tools and Natural Language Processing (NLP) tools to enhance data analysis and automate complex data preparation, data insights, and data visualizations.

To learn more about Business Intelligence software, please visit our Business Intelligence FAQs.

Top 10 Business Intelligence (BI) Software Providers

Necto / Looker / NetSuite / SAP Analytics Cloud / TIBCO Spotfire / Tableau / Oracle ERP / Infor Birst / Sisense / IBM Planning Analytics

WH Score
8.0
Logi Symphony
14reviews
Starting Price:N/A
Logi Symphony is an embedded analytics and business intelligence solution from Insight Software. A strong tool that aids firms in making sense of their data, it offers the ability to link to many different data sources, including cloud-based services, databases as well as worksheets. Logi Symphony c...
WH Score
7.9
Dynamics Square
0reviews
Starting Price:$298.53 per user / per month
Dynamics Square is a trusted partner for Microsoft Dynamics 365, serving businesses primarily in Canada. From brand new implementations to streamlining existing MS Dynamics 365 subscriptions, Dynamics Square accommodates a variety of customized needs to suit businesses operating in industries such a...
WH Score
7.9
MonkeyLearn
0reviews
Starting Price:N/A
MonkeyLearn is a user-friendly, no-code, AI platform that offers centralized text analytics tools to help organizations extract, classify, and analyze text data from surveys, reviews, products, and customer support tickets. MonkeyLearn leverages Machine Learning technology to power its text analytic...
WH Score
7.9
Unisys
0reviews
Starting Price:N/A
Unisys is a multinational technology solutions company that helps organizations modernize their business applications, streamline and secure operations, and access data more efficiently with technology, software, and IT services. For over 150 years, Unisys has been innovating and transforming the bu...
WH Score
7.9
DataSelf
0reviews
Starting Price:$99 per user / per month
DataSelf is a business intelligence solution for small and mid-sized businesses. It provides more than 5,000 report templates, KPIs and dashboards which allows businesses to leverage the solution from day 1 and improve business productivity. DataSelf is Tableau enabled; it helps to quickly gain insi...
WH Score
7.9
GoodData
15reviews
Starting Price:$1000 per user / per month
GoodData is a cloud-based BI platform offering data management solutions for businesses. GoodData is a leading end-to-end cloud analytic solution provider, enabling over 40,000 companies to store, merge, analyze and visualize data and empowering users to quickly answer the questions critical to thei...
WH Score
7.9
Targit Decision Suite

Targit Decision Suite

21reviews
Starting Price:N/A
Targit provides a fast and efficient business intelligence platform that offers visual data discovery tools, self-service business analytics, reporting, dashboards and alerts in one integrated solution. The chief product is the Targit Decision Suite that is globally recommended for the easiest-to-us...
WH Score
7.8
CrossEngage
0reviews
Starting Price:N/A
CrossEngage is a Customer Intelligence platform that leverages the power of Machine Learning (ML) to manage and analyze customer data, build predictive models, and create intelligent audience management processes that increase customer relationship potential and drive profits. CrossEngage offers ent...
WH Score
7.7
TIBCO Jaspersoft
8reviews
Starting Price:N/A
The Jaspersoft Business Intelligence Suite, Enterprise Edition is one of the most powerful competitors in the open-source Business Intelligence market. It has a wide toolset, and offers a BI suite that extends to OLAP (Online Analytical Processing), reporting, data integration and data visualization...
WH Score
7.2
Magellan
4reviews
Starting Price:N/A
Magellan is a business intelligence software designed to help organizations make data-driven decisions. It is a self-service data exploration and analysis platform that allows users to access, visualize, and share data insights easily. Magellan is designed to help organizations of all sizes leverage...

Learn more about Business Intelligence (BI) Software

What is the difference between BI and data analytics?

Business Intelligence (BI) refers to the strategies, processes, and technological tools used to collect and analyze historical business data to help organizations make data-driven business decisions. Data analytics, on the other hand, leverages algorithms to extract actionable insights from raw data. While data analytics is typically used to prepare and analyze datasets, BI transforms that data analysis into insights and visualizations that help organizations use historical and current data to make decisions about the future of the business.

Does BI software require coding expertise?

Most SaaS BI platforms do not require coding expertise and can be used by all members of an organization, across the hierarchy. This is because SaaS BI solutions offer drag-and-drop interfaces that are easy to understand and use, thereby presenting little to no learning curve, even for the most non tech-savvy team members.

However, for availing more advanced capabilities pertaining to data mining and data transformation, some expertise in coding may be required. This is especially crucial when building and tuning AI-powered data models. If your organization does not have any skilled programmers available, your BI software vendor should be able to offer you guidance and recommendations.

How is data migrated into a new BI platform?

Data migration when implementing a new BI system can be challenging, but it is a crucial part of the implementation process as it determines the overall workability and efficiency of your new BI platform.

Whether you are migrating data from static databases or from one BI platform to another, most migration processes typically involve:

  • Scoping the volume of data available,
  • Transforming/cleaning/decluttering any data (if needed),
  • Loading data onto the new platform in small batches,
  • Conducting repeated yet comprehensive tests, and finally,
  • Repeating the above process to ensure full workability and a smooth transition.

Data migration workflows and strategies may depend on the BI vendor you have partnered with, as well as any nuances pertaining to your enterprise data. As a result, your BI software vendor should be able to advise on data migration workflows and strategies that are most suitable for your business’s unique requirements.

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