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The power of data – Top BI solutions 2023

In recent years, the importance of Business Intelligence (BI) has steadily increased. BI tools aim to extract valuable insights from a wealth of data, enabling businesses to identify trends and forecast future business developments. Understanding the company’s current state is crucial in steering the business in the desired direction. This article presents three solutions that are considered leading options in the market according to the current Gartner Magic Quadrant 2023.

OVERVIEW

Getting the most out of your data with Power BI

The current leading solution is Microsoft’s Power BI. It is an end-to-end solution for data preparation, visualization, and analysis. It is available as a Software-as-a-Service (SaaS) option in the Azure Cloud or as an on-premises solution on the Power BI Report Server.

Opportunities

  • Affordable entry license
  • Easy to get started with various data access options through numerous APIs
  • Intuitive usability and customizable visualizations
  • Seamless integration with other Microsoft products
  • Regular updates and an active community

Challenges

  • Dependency on Microsoft products
  • Programming skills for specific requirements
  • The partially complex licensing structure

Tip: Power BI is particularly suitable for companies already leveraging the power of Microsoft and in need of an end-to-end solution for data analysis and visualization.

Tableau – Creating excellent dashboards without programming skills

Another well-known solution is Tableau, whose eponymous developer company was acquired by Salesforce in 2019. The focus of this solution is on highly appealing data visualization. It also offers self-service authoring capabilities.

Opportunities

  • Emphasis on appealing data visualization
  • Self-service authoring and user-friendly interface with a clear workspace
  • Numerous available data sources
  • Availability on various devices
  • Active Community

Challenges

  • Relatively high licensing costs
  • Weaker security concept, particularly in terms of role management
  • High server costs and slow response times due to high resource consumption
  • Weaknesses in data modeling and processing

Tip: Tableau suits companies that already use an ETL (Extract, Transform, Load) tool and value visually appealing reports. Due to its relatively high licensing costs, it may not be the best entry-level solution.

Efficient data Analysis and visualization with Qlik

Ranking third among the current top solutions is Qlik Sense. In brief, this tool can be described as an integrated end-to-end platform for self-service business intelligence (BI) that can handle large data volumes and complex data transformation projects.

Opportunities

  • User-friendly interface and user experience
  • Creation of appealing visualizations
  • No programming skills required
  • Responsive design and fast response times, even with large data volumes
  • Extensive connectivity through numerous APIs for adding additional features
  • Strong community and comprehensive training offerings by the vendor

Challenges

  • Technical knowledge required for initial installation
  • Relatively high licensing costs
  • Migration from QlikView to Qlik Sense

Tip: Qlik is suitable for small and medium-sized businesses and large enterprises in need of an integrated all-in-one solution with a solid architecture and data privacy.

Roman Golberg

ROMAN GOLBERG
assistant finance & controlling

LinkedIn
Sources

Gartner: Magic Quadrant for Analytics and Business Intelligence Platforms.

Datapine: Business Intelligence Software. Ein aktueller Vergleich von BI Tools, Lösungen & Plattformen

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