Basic guidance on selecting a business intelligence app
When you're in the market for a Business Intelligence (BI) app, you'll generally find two types on offer. On one hand, you have the turnkey solutions. These are typically inflexible in terms of their metrics, relying on pre-configured templates to deliver insights. Many of them have built-in ETL which allows an analyst to jump right to the analysis step. While they can be straightforward and quick to implement, their rigid structure may fail to meet all of your specific needs.
On the other hand, there are platform-based BI apps. These offer a high degree of configuration, giving you the flexibility to tailor your BI tools to suit your unique business needs and process workarounds. Yet, this added flexibility often comes at the cost of a more complex setup and potentially longer learning curve.
The decision between turnkey and platform-based BI apps hinges on analyzing your specific needs, the nature of your business, your team's abilities, and how quickly you need to see results. You'll want to weigh the benefits of a streamlined implementation against the advantage of having a system customized to your exact business requirements.
Generally speaking, the unique strength of platform-based BI apps lies in their adaptability. While they may require more time and resources to set up initially, this investment pays dividends in the long run. Why is that, you ask? Well, valuable business intelligence often necessitates the configuration of custom metrics - a feature not always readily available in turnkey solutions. Platform-based BI apps, with their customizable nature, excellently cater to this need.
This long-term payoff comes in the form of highly tailored insights that can drive strategic decision-making based on your unique business dynamics. Such powerful, bespoke data analysis and reporting can lead not only to improved operational efficiency, but also to competitive advantage. So, while the set-up may take time, the rewards from platform-based BI apps are manifold, offering enduring benefits for your business intelligence efforts.
Among the mentioned business intelligence apps, Microsoft Power BI, Looker Studio and Zoho Analytics offer free versions. Although these free versions may have certain limitations compared to their paid counterparts, they can be a valuable starting point for small businesses or individuals looking to explore the capabilities of business intelligence tools without significant initial investment.
