Businesses in global industries face intense competition, which has caused them to seek ways to manage their corporate data analytics processes for sustained growth. Organizations use business intelligence (BI) solutions to achieve competitiveness through advanced data analysis, especially in this Big Data era.
Based on insights from corporate data analytics, businesses can improve return on investment (ROI) and competitive advantage.
The emergence of new technologies has made harvesting data easier than ever before, which is yet another reason why corporate data analytics has become a prerequisite for startup growth.
Have a look at the top corporate data analytics tools discussed below to accelerate your career since they are used across all departments, industries, and business users.
What is a Business Intelligence Tool?
Business intelligence tools collect, process, and analyze large volumes of structured and unstructured data from internal and external systems.
Corporate data analytics or BI tools find this information through queries, which can be presented in user-friendly formats such as reports, dashboards, charts, and graphs. Data sources may include documents, images, emails, videos, journals, books, social media posts, and files.
A number of functions can be performed with the tools, including data mining, data visualization, performance management, analytics, reporting, text mining, and predictive analytics. This information can help employees make better decisions based on market trends, predictions, and key performance indicators.
The Benefits of Corporate Data Analytics Tools
Your business can achieve greater success with the help of business intelligence tools.
The benefits of BI tools have been reported to help companies reduce costs and increase revenue by more than 50 percent.
A data-driven approach to decision-making
To determine if similar initiatives will help meet business goals, your organization needs real data on the customer, client, or employee responses to initiatives. Data may suggest, for example, that, historically, sales of a particular item increase during one month and then wane during another, so you can respond to these fluctuations by increasing sales or revenue through offers and pricing adjustments.
Improved customer experience
If your organization tracks KPIs related to customer satisfaction or success, or if you are a managed service provider, you can improve the customer experience.
We also see similar data on major e-commerce sites that recommend products and services based on what we’ve already purchased or browsed. Consequently, corporate data analytics tools can benefit you no matter what kind of product or service your organization sells.
A proper analysis of current behavior will assist your startup in directing itself in the following directions:
- Preventing unknowns from occurring
- Profit-generating decisions
- Interpreting the market better
- Customer segmentation to drive acquisition
While businesses can utilize data in many ways, successful ones are often aligned in their use of corporate customer data analytics.
A better employee experience
Your employees want to feel heard, connected and seen. You can even send automated reports to your team to keep them motivated and engaged. Engagement and employee satisfaction are directly correlated, and business intelligence tools can help you strengthen those connections.
Advantageous position in the market
Business intelligence tools provide access to historical and competitor data, one of their best advantages. By analyzing both of these, you can forecast market conditions, identify service or product gaps, and present solutions to the market when needed.
If you have individual customers or clients, use your business experience to proactively recognize patterns and trends and offer them services before they even realize they need them.
In addition to supporting single-user applications, DotNet Report has built-in multi-tenant client support, so no matter if your client’s data is stored in the same or different databases, we’ve got you covered! Also, we have built-in support for restricting the editing and viewing of reports by users or roles.
It also works seamlessly within your existing framework, making it ideal for SaaS developers who need ad hoc reporting.
Multi-level efficiency improvements
The days when account managers had to jump from program to program to gather data for their clients, superiors, or even their teams are long gone.
Any team member who needs to report can benefit from business intelligence tools’ robust reporting capabilities, many of which are automated and are a time-saving measure.
Moreover, dashboards can be shared by teams or individuals, so everyone remains aligned on objectives and goals. The ability to gauge progress and share wins among team members can drive team productivity.
It’s time to take advantage of these amazing benefits if your team isn’t already using a business intelligence tool. Using business intelligence doesn’t have to be intimidating.
Using DotNet Report Builder is as easy as it gets. Install the nuget package in your Application Project, and you’re ready to go.
With this framework, you’ll be able to add the entire open source front end for the ad hoc Report Builder Controller and Views within your code, which runs on your server.
As soon as you are set up, you will be able to gain deeper insights into your data, resulting in a positive outcome for your business.
Top 5 Business Intelligence Tools for Corporate Data Analytics
1. Microsoft Power BI
Power BI is one of the most popular business intelligence tools on the market, provided by Microsoft. It is downloadable software, so you can choose to run analytics on a cloud server or a reporting server.
This interactive tool allows you to create reports and dashboards in minutes using sources like Facebook, Oracle, and more. In addition to AI capabilities, Excel integration, and data connectors, it offers real-time access monitoring and end-to-end data encryption.
2. Tableau
Besides making beautiful charts, Tableau is known for its user-friendly data visualization features. As part of their offering, users can spot trends in data quickly using live visual analytics, an interface that allows them to drag and drop buttons. In addition to supporting Microsoft Excel, Box, PDF files, Google Analytics, the tool can connect to most databases.
3. SAS Analytics
In addition to providing fast answers to complicated problems from datasets of any size, SAS Visual Analytics will help users make better business decisions based on corporate data and market trends.
There are many services included in SAS Analytics, including data mining, visualization, text analytics, forecasting, and statistical analysis.
4. QlikSense
QlikSense is a BI tool that emphasizes a self-service approach. It supports a wide range of analytics use cases, including guided apps and dashboards, custom analytics, and embedded analytics. This application is ideal for touchscreens and has a user-friendly interface, sophisticated AI, and high-performance cloud platforms.
Users can ask questions and uncover actionable insights with its Search & Conversational Analytics associative exploration capability, improving new users’ data literacy.
5. Dundas BI
The Dundas BI browser-based BI tool has been around for 25 years, and like Tableau, it offers drag and drop functionality so users can analyze data on their own without having to involve IT. The tool is known for its simplicity and flexibility through interactive dashboards, reports, and visual analytics.
In 1992, it was developed as a data visualization tool but has now evolved into an end-to-end analytics platform that can compete with today’s business intelligence tools.
6. Sisense
A user-friendly and streamlined BI tool, Sisense is capable of exporting data from Google Analytics, Salesforce, and other sources. The tool uses in-chip technology to process data more quickly than other tools.
Its key feature includes the ability to embed white label analytics, allowing companies to tailor their services to their specific needs. The drag-and-drop feature is similar to others. With Sisense, you can share reports and dashboards internally as well as externally.
7. DotNetReport
Using the Ad Hoc Report Builder, you can easily create useful and intuitive reports for your end users. The best part of DotNet Report is that it can be easily installed and embedded in existing Web Applications. One of the best features is that it is the easiest of all!
You can easily embed it inside your Enterprise application, change the style and theme to match your application, and basically make it a feature inside your software.
It uses Bootstrap, Knockout, and JavaScript for the front end so that users can build ad hoc reports in any modern browser.
Using Microsoft .NET tech stack, the Reporting Tool front end can be used with MVC, .Net Core, and Web Forms. You can also use Angular IO to deliver the front end.
With DotNetReport, you can easily create a stand-alone portal where your users can access and build their reports and dashboards. You can create features only for internal users or make them available to external users, all safely and securely.
Important Factors to Consider When Choosing a BI Tool
- Features:
Big data analytics is used by most corporations today. Therefore, BI tools should be designed to meet the requirements of business analysts. They should offer features such as customizable dashboards, data filters, data discovery, and automated reports.
- User interface:
The user interface should be well-designed. It should have clear displays that can make navigation within the tool easier. Your BI tool should also be user-friendly if you are a data analyst.
- Ease of use:
New users should have access to tutorials and technical support when using BI tools.
- Price:
When employing business intelligence, businesses should opt for a BI tool that offers a price within their company’s reach.
- Integration:
There is a growing demand for companies to gather data from a variety of applications. Businesses must choose BI tools that integrate with as many applications as possible.
Bottom Line
Within a relatively short period of time, corporate data analytics have come a long way. It can help businesses with many aspects of operations and can be a real game-changer. The key to getting maximum results with this technology is to know how to use it properly, improve the quality of data, and manage it effectively.
A company that can do so will have a significant advantage over its competitors and will be well positioned to succeed in 2022 and beyond.
Essentially, analytics is the expression of trends, actions, and interests. It is not only a tool to better understand your customers but also your company as a whole.
