Business Intelligence Tools For Start-ups – We live in an age where data affects everything. And when it comes to the success of your startup, data can show how your key performance indicators are working: marketing strategy, sales, user experience, lead conversion, everything.
Fortunately, we also live in a time where we have business intelligence and data analysis tools to our advantage.
Business Intelligence Tools For Start-ups
Business intelligence tools (also known as BI tools, business intelligence software, or business intelligence solutions) allow users to quickly access sets of data from multiple sources, analyze them, then present the main findings in easy-to-understand visual formats. With this information, you can overcome the main challenges of startups and ensure the success of your growing business.
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But the BI market is full of solutions trying to earn a place in your tech stack, and choosing the best solution for your startup takes a lot of work.
Finding the best BI solution for your start-up business requires understanding what your business needs, but it also requires help.
We’ve created this guide to the best BI tools for startups to narrow down your choices and presented you with some of the crucial pros and cons of these select solutions.
Whether you’re in the early stages of your startup’s growth or just received your next round of funding, you need a BI tool for your startup to help you make data-driven decisions.
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For startups to survive, they must embrace a culture where decisions are backed by data and made quickly across all departments and operations. Business intelligence and data analytics can sound daunting, but don’t worry; many of these solutions offer intuitive and easy-to-use features that allow all business users, regardless of skill and expertise, to analyze data and create dashboards and reports on their own.
Data-driven decision making provides a roadmap for the success of any startup. By investing in a BI tool, you can put the power of data in the hands of all your business users, empowering them to make better business decisions with minimal training or effort.
Once you realize you need a BI tool for your startup, you need to compare the features of different vendors. Here is a list of critical items you should look for:
For your convenience and to make the decision easier, we have divided the list of best business intelligence tools for startups into four categories. So you can focus specifically on the BI tools that meet your startup needs:
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For Business Users – BI tools for your starting business users that offer an intuitive, easy-to-use interface. These tools provide startups with self-service analytics capabilities so that every team member can work with data, regardless of expertise.
Free/low cost BI tools – in this category you will find BI tools for startups that won’t be as heavy on the budget and offer a free trial, so you can test them out before making any business decisions. investment.
Built-in analytics tools: Unlike traditional BI tools, which require users to leave their workflow applications to view data insights in a separate set of tools, built-in analytics tools allow users to View data visualizations or dashboards in context, while within the app itself. .
For technical users – these BI tools may be great for technical users, but the regular business user will find it difficult to navigate and get used to.
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Slingshot Tip: Some BI tools on our list may fall into more than one category. Here we provide some background information on each, and advise you to make a better assessment of the ones you like yourself.
Tableau is a data analysis tool particularly suitable for companies looking for a business intelligence system, including startups. It helps users see and understand data and has an intuitive drag-and-drop interface that makes it easy to use. Tableau is one of the premier players in the analytics space. This maturity makes it very attractive for businesses and that’s why it has such a large community. The community is a great resource for users looking for advice and support.
Tableau offers two hosting options: host on your own server if you have the resources to do so, or host with Tableau Online. Tableau doesn’t require programming knowledge, which makes it a big plus for startup teams with limited technical resources. It’s also a good option if your users frequently work from their smartphones, as the mobile app offers almost as many features as the desktop version.
However, Tableau’s built-in features aren’t as smooth as expected. Integrating Tableau into your application can be both financially and technically challenging. Another disadvantage of Tableau for startups is pricing. Tableau is one of the most expensive tools on the market, so you need to carefully assess whether its benefits are worth the significant investment.
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Microsoft Power BI is a cloud-based BI and analytics software service that is somewhat of an umbrella term and includes:
The Microsoft Power BI BI system allows you to create sophisticated and dynamic data visualizations from a variety of sources. It also allows you to communicate critical business information that leads to better decision-making and ultimately better results. This BI tool will allow users to quickly create and maintain data reports and dashboards and securely share them with other app users.
One of the biggest benefits of Power BI is that it comes bundled with Office 365 Enterprise Edition, which is a big plus for startups that are already heavily invested in the Microsoft/Azure/Office365 ecosystem.
Slingshot is a self-service BI tool that combines data analysis, project management, content management, and chat, all in one intuitive app. As a data analysis tool, Slingshot is all about data-driven decision making. It was designed to help teams and companies in all industries and sizes stay on top of current campaign data with dashboards, KPI tracking and KPI indicator spreadsheets that are converted into data analytics that are then easily shared. It also offers a set of statistical functions that allow you to receive more information from your visualizations.
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Some of Slingshot’s main analytics features include machine learning, data fusion, dashboard linking, data catalogs, global filtering, and annotation. With the comprehensive business intelligence engine in it, users can quickly connect to various data and create a beautiful yet informative dashboard with just a few clicks.
Slingshot is a great BI tool for startups because it has an easy-to-use interactive interface. The dashboard builder is complemented by drag-and-drop functionality, allowing all business users to work with data independently. Plus, small startup teams can get started for free. And the best part is that you get a full suite of built-in essential business tools.
Part of Google Cloud Platform, Looker is a web-based BI tool optimized for cloud data warehouses. It provides robust development support and offers extensive APIs, SDKs, and developer tools so developers can create custom analytics to integrate into your workflows and starter applications. Looker also supports multiple SQL dialects, which means you can avoid database deadlocks and maintain a multi-cloud data environment.
Looker is best suited for start-ups that use data to visualize essential patterns and characteristics. It offers a set of comprehensive visualizations for outlier removal, funnel overview and more, and 100+ pre-built blocks and models or retention, cohort, BigQuery ML results analysis, and more. Looker’s feature set also includes detailed analytics and more.
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Looker does not publish pricing information on its website, but according to different online communities such as Quora and Reddit, Looker’s entry price is around $35,000/year. Additionally, you have to pay $30 for dashboard viewers, $60 for dashboard builders, and $120 for developers (who can write LookML). The entry price of $35,000 has been around since 2018, so the price is unlikely to stay the same or be lower in 2023; for more accurate price information, you must request a quote. Looker does not offer a free trial.
Qlik is a BI tool best suited for startups looking to use machine learning. The company has a strong vision for machine learning. It uses various augmented capabilities, including automated data creation and preparation, natural language search and interaction, predictive analytics, and AI-generated analytics and insights. With these AI capabilities, non-technical users can easily use Qlik to perform data analysis. However, we didn’t include it in the previous section because some non-technical users may not find Qlik’s user interface as intuitive and easy to use as the other BI tools on the list.
Qlik offers two pricing solutions: Qlik Sense Business Data Analytics Solution and Qlik Sense Enterprise SaaS. The Qlik Sense Business solution starts at $30 per user per month. You can also try Qlik free for 30 days.
Zoho Analytics is a robust and feature-rich BI tool that enables startups to generate detailed business reports and facilitate visual analysis of business data to guide decision-making. With Zoho Analytics, you can pull data from different sources, including CRMs, accounting software, and e-commerce platforms like Shopify, to analyze the performance of marketing and sales campaigns, monitor your social media accounts, etc Business users can extract sales, marketing, and other business-related information from these sources to quickly create insightful reports to act on the information effectively.
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Zoho Analytics also offers self-service data preparation and management capabilities and
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