We didn’t want to have to rebuild everything, but rather just take the data as it was.”. Based on the study of the evaluation criteria of Gartner Magic Quadrant for analytics and Business Intelligence Platforms, I have summarized the top 10 key features of BI tools for your reference. You can view rankings across multiple dimensions and specify various criteria to focus your results. Partnering with a reliable Business Intelligence service provider. Pivot tables can automatically extract significant features from a large, messy set of data. The first section starts with a list of broad, high-level features found in good Business Intelligence solutions: Image Credit: PublicDomainPictures via pixabay cc . Finance. Easily shortlist the best BI vendors now. Save my name, email, and website in this browser for the next time I comment. The company’s existing tools couldn’t process real-time website data, and its report building functions depended on IT developers. Advanced analytics features are not commonly considered as present requirements. The business should drive data analytics projects with IT in an enabling role. Key Business Intelligence Features and BI Tools That Provide Them. 3. The software’s data visualization and KPI functions enabled Xactly to generate valuable business insights in less time. A dimension is data that you can add to an entry as a kind of marker. With its cohesive, consolidated approach, industry powerhouse SAP BusinessObjects gives organizations a full set of tools to manage and optimize Business Intelligence. So let’s have a look at the four major feature categories of a good business intelligence solution: 1. Also, don’t forget to tell us about your experiences using different BI software in the comments section below. Executive Dashboards. They operate as standalone tools … For example, strategic planning will find better resonance with higher level management teams, while OLAP requires some knowledge of programming languages. Of the buyers who named predictive analytics as a key feature, 16 percent considered predictive analytics as something that would be “nice to have in the future,” as opposed to a feature that would be needed upon deployment. Applications using location intelligence can take your information and transform it into graphical and cartographic representations, simplifying your geographical data. Respondents cited cost, existing infrastructure, volume of data and security (particularly government and HIPAA regulations) as factors under consideration when deciding on a deployment method. Ad hoc analysis. At the end of each day, business intelligence features like these can provide your organization’s executives with a detailed summary of the daily events, giving them the information they need to make critical decisions. The feature was mentioned in 81 percent of responses. 4. Based on the features offered by the products included in Capterra’s Top 20 Most Popular report, we’ve created a BI Software Features Tree, which identifies the most commonly needed features, as well as the more specialized ones. Three Features of GREAT Data Analytics Projects. Fiverr, an eCommerce marketplace was having difficulty managing scattered data from multiple sources. The most common features—data analysis and ad hoc reports—are offered by every product on Capterra’s list of the 20 most popular and are required by more users. A government collections agency in the U.S. used Microsoft SQL Server’s OLAP technology to improve its performance reporting. Enables users to predict customer behavior, forecast demand, and prepare strategies using modeling, statistics, machine learning, and data mining tools. And, at the time, spreadsheets were likely sufficient for building simple dashboards and charts to give management an overall view of business metrics such as sales, revenue, costs, and headcount. When comparing, try matching the main features of a business intelligence software, which should include all or at least some the following: Online analytical processing (OLAP) or business analytics. Here’s an overview of how some of the more advanced BI features work: Predictive analytics. Get insight to the performance of your business activities through budgets, account schedules, and analysis views. A full portrait of features in the industry can lead to a choice in vendor that heightens data from one-dimensional information into an insightful business tool. Learn about the features and capabilities that SAP Data Intelligence has to offer. Businesses can harness data to achieve process efficiency, increase profits, and scale operations. Geospatial Mapping. A trend towards prioritizing familiarity is apparent. Filtering and transforming data. If you’re thinking of buying business intelligence (BI) software, you may be unsure of which features you need and which ones you don’t. The most important business intelligence features include: Ranking reports let you easily view the best- and worst-performing facets of your business, from products to marketing campaigns to salespeople. Users can take advantages of features like statistical analysis and regression to identify trends, anomalies and outliers in the data. Data filtering involves reorganizing, transforming, summarizing, aggregating, and dis-aggregating data. The idea of adopting a “hybrid” model was mentioned in two percent of responses that expressed interest in both deployment methods, demonstrating buyers’ attraction toward the virtues of both. This is a lesser-known business intelligence capability that can really pack a punch. 1. OLAP runs the gamut of data preparation, processing and delivering outcomes for reporting. Note: Based on Capterra’s feature checklist and secondary research. Visualizations present data in a format that can be absorbed by people of all levels of BI skill sets. Match up these critical BI software features within your BI requirements template to ensure you are researching and selecting the ideal BI platform for your organization. Users can pick and choose the elements that they wish to be included in the report, emphasizing only those aspects that are relevant to their query. After incorporating SAS Enterprise BI into their production process, BGF took half the time to retrieve data. The report template can be populated with data from a variety of data sources and report elements may have JavaScript associated with them to allow for more dynamic interaction. Looking for Business Intelligence software? the ability to Extract, Transform and Load data) was chosen by 20 percent of buyers as a needed feature of business intelligence software. 3. Learn how key features of SAP BusinessObjects Business Intelligence suite can give business users anytime, anywhere insights to improve decision-making. She covers topics in a variety of markets including construction, rental, analytics, and others. What do you see as the benefits of firms utilizing business intelligence and business analytics? Interactive Reports. Your privacy is important to us. Data mining, ETL, OLAP and drill-down functionality are generally Big Data functions and may not be needed by small businesses, or the perception of these features could turn away small businesses. Key Features of Business Intelligence Software. They are more often associated with larger enterprises and advanced technical expertise. Business Intelligence Tools: Seven Key Features and Functions. 1. The Dimensions functionality plays an important role in business intelligence. Get our BI Software Requirements Template. However, you might be missing the benefits of such an ability because you haven’t turned your software into a data warehouse. Manage sales processes and information, such as quotes, orders, returns, and customer accounts, and make drop shipments. Business Intelligence Tools – Features of Dundas BI Or will you require one or more of the advanced options along with the common features? © 2020 SelectHub. Overall, as users’ dat a sources become more extensive, their preferences for BI are changing. The need to view data visualizations and other important information in a centralized location was seen as crucial. Research shows that the industry is expected to nearly double in value from over $15 billion in 2016 to nearly $30 billion in 2022. Sales. One of the key features of business intelligence functionality is the ability to turn data into knowledge and profit. Enables users to predict customer behavior, forecast demand, and prepare strategies using modeling, statistics, machine learning, and data mining tools. Dundas BI is a very robust BI tool from Dundas Data Visualization. These BI tools provide the most common features, including: data analysis, data visualization, ad hoc analysis, dashboards, ad hoc query tools, ad hoc reports, KPIs, and performance metrics. Instead of burdening your IT department with requests for detailed reports, ad-hoc reports are one of several important features of BI that let your nontechnical end-users generate their own reports on the fly. You may even find that your Excel sheets get hung up as your data grows in volume. Your email address will not be published. Vendors may also charge extra for add-ons such as predictive analytics and OLAP support. Well, it definitely must be packed with novel features, have a user-friendly interface and be up to date! Viewed as a more advanced feature, predictive analytics is still one of the top needs of BI software buyers, with 42 percent of respondents expressing interest in predictive analytics. In-memory analysis. Database access software is a core component of InetSoft's business intelligence software platform. Help users spot patterns in production, sales, and distribution lines and identifies anomalies. In-memory analysis can be one of the most important business intelligence features in terms of functionality that is powerful yet easy to use. Cloud services. These features are not as widely used as the common features, but we can’t classify them as niche features either, as many firms embrace these functions, though they may seek separate tools for them. Companies use BI to detect significant events and identify/monitor business trends in order to adapt quickly to their changing environment and a … The reasons for such investments are different based on the specific circumstances and industry verticals.

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