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Pam Baker The Best Self-Service Business Intelligence (BI) Tools of 2018 Business intelligence has come a long way from turning your spreadsheet into a pie chart. Today's tools combine easy accessibility and new features that can help any business squeeze more value from their data. PCMag Labs tests 10 top players to help you find the right BI tool for your needs. Analytics Beyond Spreadsheets For many years, and other spreadsheets were the tools of choice for business professionals who were looking to visualize their data.
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But spreadsheets had their limits for many business intelligence (BI)-related tasks. Even today, trying to creating charts analyzing complex datasets in Excel can still be frustrating. Sometimes you start with the wrong kind of data, for example, or you may not know how to manipulate the spreadsheet to create the you need. On the other hand, the rising tide of data democratization is giving everyone in an organization access to corporate data. Free encryption software for mac.
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The need has arisen for effective tools that people of all skill levels can use to make sense of the wealth of information created by businesses every single day. Spreadsheets also fall down when the data isn't well-structured or can't be sorted out in neat rows and columns. And, if you have millions of rows or very sparse matrices, then the data in a spreadsheet can be painful to enter and it can be hard to visualize your data. Spreadsheets also have issues if you are trying to create a report that spans multiple data tables or that mixes in (SQL)-based databases, or when multiple users try to maintain and collaborate on the same spreadsheet.
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A spreadsheet containing up-to-the-minute data can also be a problem, particularly if you have exported graphics that need to be refreshed when the data changes. Finally, spreadsheets aren't good for data exploration; trying to spot trends, outlying data points, or counterintuitive results is difficult when what you are looking for is often hidden in a long row of numbers. While spreadsheets and self-service BI tools both make use of tables of numbers, they are really acting in different arenas with different purposes. A spreadsheet is first and foremost a way to store and display calculations.
While some spreadsheets can create very sophisticated mathematical models, at their core it is all about the math more than the model itself. This is all a long-winded way of saying that when businesses use a spreadsheet, they are actively sabotaging themselves and their ability to consistently get valuable insights from their data. BI tools are specficially designed to help businesses better understand their data, and can prove to be a huge benefit to those upgrading from what a limited spreadsheet can do. What Is Business Intelligence? Defining BI is tricky.
When you examine what it does and why companies use it, it can start to sound vague and nebulous. After all, many different kinds of software offer analytics features, and all businesses want to improve. Understanding what a BI is or isn't can be unclear. BI is an umbrella term meant to cover all of the activities necessary for a company to turn raw information into actionable knowledge. In other words, it's a company's efforts to understand what it knows and what it doesn't know of its own existence and operations. The ultimate goal is being able to increase profits and sharpen its competitive edge. Framed that way, BI as a concept has been around as long as business.
But that concept has evolved from early basics [like (AP) and Accounts Receivable (AR) reports and customer contact and ] to much more sophisticated and nuanced information. This information ranges across everything from customer behaviors to IT infrastructure monitoring to even long-term fixed asset performance. Separately tracking such metrics is something most businesses can do regardless of the tools employed. Combining them, especially disparate results from metrics normally not associated with one another, into understandable and actionable information, well, that's the art of BI. The future of BI is already shaping up to simultaneously broaden the scope and variety of data used and to sharpen the micro-focus to ever finer, more granular levels.
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