Your customers are the centre of your business. What they do and how they do them can influence the sale of your goods/products.
Now, how do we come about this? Good question. The short answer is “data!”
Your customers’ footprints on your page, which include purchase history, browsing history, and “add to cart,” make up a dataset. You can use this data to tailor your future services to their preferences.
For instance, your customer searched for a Gucci bag shade you don’t have in store. There’s a high chance that they’ll search for shoes in that same shade. That way, you can stock up on that shade for future purchases. This is what data does.
It uses past, recorded actions to help you make informed business decisions in the future. Let’s say you have hundreds of customers or you want to study market trends to influence your sales strategy. How can you go about this? Here is where the need for business intelligence software comes in.
Business intelligence software turns raw data into valuable insights. It extracts insights from existing datasets and presents them in a way you can easily comprehend. This article will discuss some of the best business intelligence software you can employ for your business. Stick around.
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Top 6 Business Intelligence Software
Business intelligence software or tool helps your business identify trends and spot opportunities that can make you competitive in your industry. Below are some of the best business intelligence tools you can opt for:
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Zoho Analytics is a game-changer for small businesses that want to make informed, data-driven decisions. Zoho’s business intelligence software helps you create intuitive and visually appealing reports and dashboards.
The data you get from your customers’ online behaviour patterns are usually in tech jargon. This can be challenging to comprehend, especially when you’re not a tech guru.
Zoho Analytics however has a drag-and-drop interface and a vast selection of charts/pivot tables that can translate complex data into simple information. This makes your work easier.
One significant way of manoeuvring this business intelligence software is through the use of Zia (Zoho’s AI-powered assistant). Sometimes, you may need clarification on the questions to ask your data or what insights you should extract from them. But don’t sweat it; just ask Zia.
Zia gathers data automatically and provides a data-driven response. Zia’s data are predictive analytics that use past data to forecast future trends. This is called trend forecasting, and here’s how it works.
Trend forecasting uses market research and consumer data to predict customers’ future purchase habits and preferences.
For example, you might use your customers’ past purchase habits to determine if you should make another batch of a particular product or stop producing it. This can give your brand an edge, especially in the highly competitive online environment.
A major challenge of data usage in businesses is handling all your operational processes. However, Netsuite changes that narrative. This business intelligence software is a one-stop solution that covers all your operations. That is, it takes care of everything, from enterprise resource planning (ERP) to customer relationship management (CRM) needs.
Netsuite operates on the cloud. This means you can access it anytime, anywhere. It also integrates with existing IT infrastructure to give businesses a unified platform where you can handle financials, orders, production, supply, and even inventory altogether.
Moreover, Netsuite has various features, including its ERP functionality, that provides real-time visibility into your financial performance. This feature can help you monitor every amount you spend during operations, from your bulk purchase transaction to individual transactions you make during production and marketing.
There’s also the CRM that covers your lead generation, sales forecasting, and your customer service. The CRM gives you a 360-degree view of your customers, helping you understand them and create better customer relationship management.
The exciting part of this business intelligence tool is that it grows with your business. Netsuite accommodates new processes, users, and even subsidiaries. This scalability ensures that your business doesn’t outgrow the software and that you can have reliable business intelligence software, no matter how big your data is.
Datapine is one of the best business intelligence software to transform raw data into actionable insights. Datapine’s selling point is its simplicity.
This business intelligence tool makes it easy for business owners to analyze their data and share the insights they gain from them. Especially when they don’t have advanced digital skills.
Once you import your data, datapine’s intuitive drag-and-drop interface works wonders. You can create interactive dashboards and reports with this interface. Thereafter, you can display your data in a way you can easily digest them.
While the software has been built to simplify analytics for non-tech individuals, it also has a top-notch SQL query builder for advanced users. This flexibility lets you delve deeper into your data in cases where you hire a data analyst. It also helps you gain valuable insights if you do it yourself.
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Qlik’s data integration feature is at the forefront of its operation. This business intelligence software connects with various data sources, whether from interviews or surveys about customers’ preferences for a product. Also, this business intelligence tool monitors market trends on a particular service and collates the necessary information for you.
It might also be confusing to source data, especially when you don’t have a defined path yet. However, Qlik’s consolidation of information saves you the stress of jumping from different systems to gather data.
Most business intelligence software platforms use a predefined approach that gives you the data you need. But Qlik is different. It’s a special business intelligence tool that let you probe your data in any direction your intuition takes you. That is, you can select the data you want and make minor changes along the way.
Qlik would update your visualizations as you fine-tune your selection, revealing how different data points are interrelated. Like Netsuite, Qlik also has scalability, making it a suitable choice, regardless of your business size.
More importantly, Qlik grows with your data and manages them without compromising speed or performance.
The bedrock of Tableau’s utility is its expansive data compatibility. This business intelligence software connects seamlessly with numerous data sources, from traditional databases to cloud services and complex big data processes.
Using Tableau, you can bring data from different systems and align them into a unified view. This business intelligence tool helps you pay attention to every piece of information on your dashboard, nothing goes amiss.
Tableau also has a user-friendly design. You don’t have to be tech-savvy to use its business intelligence tool. Its interface makes it easier to process data and make them into sophisticated visual displays. These displays could include simple charts and intricate dashboards.
If this seems complicated, tableau also has an abundance of built-in tutorials and resources, such as webinars and community forums you can visit to master the software progressively. It doesn’t stop here. This business intelligence software uses real-time data analytics.
With this feature, you can access recent data, as well as ensure your visualizations and reports reflect the current state of affairs. This in turn helps your business make timely and informed decisions, which are two factors that can give the ultimate competitive edge.
With its mobile functionality, Tableau retains its position as one of the best business intelligence software. You can also operate this business intelligence tool on your mobile phone. It has a mobile app that lets you update your business with recent data and analyze them from your mobile devices.
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Domo is a powerful business intelligence tool that connects your data and systems into one platform. How does it achieve this? Domo has a wide range of data integration.
It connects with hundreds of data sources, including databases and spreadsheets. This connection brings your business data into a unified view and reduces data silos.
One notable characteristic of Domo is its collaboration capacity. It lets you share your data dashboard with people. For instance, you can share your project dashboard with your team members.
This allows everyone to see the latest progress, deadlines, and potential bottlenecks. Using Domo can help you keep everyone on the same page throughout a project.
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Data collection has become integral to the success of modern businesses. You can now use data to set your business’s trajectory and employ business intelligence software to track your progress.
A business intelligence tool gathers several data from different sources and sorts them out to find a helpful trend for your brand. In this guide, we have discussed some of the top business intelligence software and their unique functions.
- Adetola Rachael is a content and copywriter. With experience in tech, entrepreneur, and casino niches, she relies on deep research to create quality, original, and marketable content.
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