5 Examples of Business Intelligence Tools Used by Successful Companies

In today’s data-driven world, businesses are facing various challenges in making the right decisions based on the data they collect. Business Intelligence (BI) is a powerful tool that helps companies make informed decisions by collecting, analyzing, and presenting data. It provides insights that aid in identifying market trends, finding new opportunities, discovering potential problems, and predicting customer behavior. Here are 5 examples of business intelligence tools used by successful companies:

1. Tableau

Tableau is a data visualization and business intelligence platform that helps companies make data-driven decisions. It is user-friendly and empowers businesses to create interactive visualizations, dashboards, and reports to gain deep insights into their data. Tableau’s drag-and-drop interface helps users build customized visualizations without any coding experience.

For example, the outdoor retailer, REI, use Tableau to analyze and visualize inventory data across their stores, enabling them to optimize their inventory management system.

2. Microsoft Power BI

Microsoft Power BI is a cloud-based business intelligence tool that helps companies analyze data and transform it into insights. It offers a variety of features such as data visualization, dashboard creation, and real-time analytics. Power BI integrates seamlessly with Microsoft products, such as Excel and SharePoint.

For instance, the airline, JetBlue, uses Microsoft Power BI to analyze its daily operations and customer behaviors. This enables them to reduce flight delays, minimize operational costs and enhance customer experiences.

3. QlikView

QlikView is a data discovery and visualization platform that enables businesses to analyze and explore data. It delivers advanced visualization capabilities that enable users to create interactive dashboards and reports easily. QlikView offers an intuitive user interface and supports a range of data sources, including big data and real-time data.

For example, the online retailer, Amazon, uses QlikView to analyze customer billing and order data quickly. This enables them to track and forecast revenue, reduce errors in billing, and improve customer satisfaction.

4. SAP BusinessObjects

SAP BusinessObjects is a suite of business intelligence applications that help companies to gain insights and improve decision-making. It is a powerful tool that offers a range of features such as data integration, reporting, and analysis. SAP BusinessObjects is a user-friendly tool with a variety of customizable dashboards.

For instance, the retailer, Walmart, uses SAP BusinessObjects to analyze sales data from its stores across the globe. This enables them to analyze market trends and optimize inventory across all their stores.

5. Sisense

Sisense is a business intelligence tool that allows businesses to analyze and visualize complex data easily. It is designed to handle large datasets and offers advanced features such as predictive analytics and machine learning. Sisense offers an easy-to-use drag-and-drop interface that enables users to build customized dashboards.

For example, the aerospace manufacturer, Boeing, uses Sisense to analyze its supply chain data and optimize production processes. This enables them to reduce costs, increase efficiency, and improve product quality.

Conclusion

Business intelligence is an essential tool for companies to make informed decisions based on the data they collect. The above-mentioned tools, including Tableau, Microsoft Power BI, QlikView, SAP BusinessObjects, and Sisense, are popular choices among successful companies. Each tool provides a unique set of features and functions that are tailored to meet specific business needs. By utilizing these tools, businesses can make smarter decisions, streamline their operations, and gain a competitive advantage in the market.

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