Maria CarpenaEmerging Trends & Research Writer
- July 6, 2023
- 6 minute read
- Maria is an experienced marketing professional in both B2C and B2B spaces. She’s earned certifications in inbound marketing, content marketing, Google Analytics, and PR. Her favorite topics include digital marketing, social media, and AI. When she’s not immersed in digital marketing and writing, she’s running, swimming, biking, or playing with her dogs.
Any business looking to increase revenue and improve its marketing campaigns’ performance will benefit from business intelligence tools. After all, data from these platforms can inform you of what’s driving results and what needs improvement.
Need help to determine which business intelligence tool is best for your business? This blog post lists the top business intelligence tools you can use in 2024. In addition, it also covers these topics:
- What is a business intelligence tool?
- The benefits of business intelligence tools
- 6 best business intelligence tools
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What is a business intelligence tool?
A business intelligence tool collects, processes, analyzes, and visualizes data from internal and external systems to generate business insights and reports that inform your strategies.
It can perform the following:
6 benefits of business intelligence tools
Business intelligence tools can help your business in various ways. Here are six benefits of using business intelligence tools:
1. Centralized source of data
Your business intelligence tool saves all your data from various sources in one place. If you have lead data from your customer relationship management (CRM) software and customer data from your databases, you’ll see them all through your business intelligence tool.
Suppose your marketing team needs to analyze the demographics of your customers and hot leads. In that case, your business intelligence tool can create a view that enables your marketing team to analyze your data easily.
2. Automated reports
Do you need to generate a monthly report about your lead generation campaign’s performance? Business intelligence tools eliminate the manual task of gathering all your data from different sources into a single spreadsheet file.
Business intelligence tools can automate data gathering and report generation, creating interactive visualizations, graphs, and charts you need.
3. Improved efficiency
If you want to streamline your processes, you can use business intelligence tools to identify inefficiencies within your processes. Once you’ve uncovered these bottlenecks, you can improve your processes and campaigns, resulting in a higher return on investment (ROI).
4. Data-driven strategies and decisions
Business intelligence tools gather and analyze data, and provide you with insights based on your past performance and the latest industry trends. As a result, your business decisions are based on data-backed insights and strategies.
5. Quick opportunity and trend identification
While running your marketing campaigns, your business intelligence tools can help you analyze their performance in real time. These tools identify bottlenecks and opportunities for improvement.
Business intelligence tools can also keep track of external data like industry trends from news reports. By combining the insights from your campaigns and information from other sources, business intelligence tools enable you to quickly identify opportunities and trends so that you can adjust your strategies accordingly.
6. Increased revenue
The ultimate benefit of business intelligence tools is improved revenue. Data-driven strategies and streamlined processes bring you closer to your business goals.
Need intel on your competitor’s strategies? Check out the top 10 competitive intelligence tools you can use to spy on your rivals.
6 best business intelligence tools
Now that you know what a business intelligence tool is and the benefits of using one, let’s go through the top business intelligence tools you can use in 2024:
Let’s go through each one in more detail:
Price: Full suite of growth features starts at $675 per month
MarketingCloudFX is our proprietary growth platform powered by IBM Watson. It can house data from various sources so you have a single source of truth. Using artificial intelligence (AI) to analyze your data and draw insights, MarketingCloudFX enables you to:
- Track your marketing’s ROI
- Optimize your marketing campaigns
- Attribute your sales
- Streamline your processes
2. Microsoft Power BI
Price: Starts at $10 per user per month — free trial available
Microsoft Power BI is an analytics tool suite that syncs with Facebook, Oracle, and other data sources. It’s an excellent data visualization tool, enabling you to spot trends in real time easily.
It has built-in AI that uncovers and analyzes deep insights from your data. You can also generate reports and dashboards.
Price: Starts at $15 per user per month — free trial available
A business intelligence tool with intuitive data visualization capabilities, Tableau enables you to analyze, visualize, and share data. It supports multiple data sources, including Microsoft Excel, Salesforce, Google Analytics, and PDF files.
Tableau’s visual analytics is an interface that lets you drag and drop buttons to see trends in your data quickly.
Price: $45 per month
Do you need a business intelligence tool that will track your marketing campaign’s performance and KPI data? DashThis integrates with various tools and lets you quickly look at your marketing analytics metrics from its dashboard.
You can select a template for your report or dashboard, and DashThis automatically fills out the template with your data.
5. Raven Tools
Price: $49 per month
Raven Tools is a business intelligence tool that performs search engine optimization (SEO) analysis, funnel performance tracking, and competitor comparison. In addition, it lets you customize your automated reports with a drag-and-drop editor.
6. Zoho Analytics
Price: $30 per month for two users — 15-day free trial available
Zoho Analytics lets you automatically synchronize your data from different sources. If you need to create reports, its easy-to-use editor lets you personalize reports and dashboards.
You can track business metrics and analyze trends from this cloud-based business intelligence tool. It also features an AI assistant, with whom you can converse to generate automated insights and predict trends.
One platform tracking countless metrics and driving stellar results.Learn More About Our Proprietary Software
Ready to pick a business intelligence tool to grow your business?
Business intelligence tools streamline your processes, improve your campaigns, and increase revenue. If you need an easy-to-use business intelligence tool and a team of marketing experts to help you grow your business, look no further than WebFX.
We’re a full-service digital marketing agency with over 25 years of experience in 154 industries. Our proprietary software, MarketingCloudFX, enables you to measure your ROI to improve your campaigns and strategies.
In addition, our team of 500 digital marketing experts is passionate and dedicated to delivering results that grow your bottom line.
Maria is an experienced marketing professional in both B2C and B2B spaces. She’s earned certifications in inbound marketing, content marketing, Google Analytics, and PR. Her favorite topics include digital marketing, social media, and AI. When she’s not immersed in digital marketing and writing, she’s running, swimming, biking, or playing with her dogs.
WebFX is a full-service marketing agency with 1000+ client reviews and a 4.9-star rating on Clutch! Find out how our expert team and revenue-accelerating tech can drive results for you! Learn more
- What is a Business Intelligence Tool?
- 6 Benefits of Business Intelligence Tools
- 1. Centralized Source of Data
- 2. Automated Reports
- 3. Improved Efficiency
- 4. Data-driven Strategies and Decisions
- 5. Quick Opportunity and Trend Identification
- 6. Increased Revenue
- 6 Best Business Intelligence Tools
- 1. MarketingCloudFX
- 2. Microsoft Power BI
- 3. Tableau
- 4. DashThis
- 5. Raven Tools
- 6. Zoho Analytics
- Pick a Business Intelligence Tool