Four effective pieces of business intelligence software

By Ryan Smith on June 4, 2018

Four software tools that can give you an advantage over your competition.

In today’s ultra-competitive modern business environment, business intelligence is key. All organisations thrive on data now, and this is especially true in the financial sector. Being able to not only track the ever-changing daily data from customer interactions but also use it to improve your business is vital. To give an idea of how large this sector in business is, by 2020, it should reach around the $30bn (£22bn) mark.

By using the correct business intelligence software to analyse your collected data you’ll reveal trends and patterns that can prove very useful. Choosing the right software will be a great help here. The best business intelligence software will turn raw data into ordered and understandable results for further action.

Other benefits of using business intelligence software include:

  • It gives you a panoramic view of your whole business.
  • It provides a central, reliable source of data.
  • It helps you review your financial commitments in specific areas and track ROI.

What are the best pieces of business intelligence software to use?

By now, it should be clear that using the correct business intelligence software can create superb financial rewards for your business. Having the means to turn raw data into actionable reports will help you spend your financial capital better and avoid wasting money with uninformed business choices.

Here are four of the best software tools to consider using:

  • Google Analytics – This is the most well-known and widely used analytics tool. Great for most SMEs, Google Analytics is free and easy to use. You can interrogate your data in several ways, from devices used to interact with you to which page on your website gets the biggest number of hits.
  • Sisense – This is another business intelligence (BI) tool that many companies choose to rely on. It is particularly good for drilling down into data on a granular level to see what is happening in detail. Sisense may help, for example, in seeing which type of financial advice that your customers are looking for.
  • Looker – Looker is a great piece of software to use if you are not that knowledgeable about business analytics. It’s easy for you to learn, and you can build reports and define field parameters with this tool. Looker is ideal for helping you make sure that you are getting the best financial return on your marketing campaigns.
  • Tableau – If you need a piece of BI software to help with collaboration, then this is it. Tableau saves lots of time and money for your business, as it makes it easy for staff to work together. There are no fancy programming languages to learn, and each user can set up their own dashboard of reports to instantly share with others.

If you want to ensure that your business continues to expand and grow financially, then business intelligence is a must. Taking the time to understand your customers and their behaviour will allow you to give them what they want.

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