What is the best business intelligence and analysis tool on the market?
A plethora of data science and business intelligence professionals and institutions have asked these questions this century. There is no one-size-fits-all answer here. It is still a very subjective question, especially given the number of BI and visualization tools on the market.
But if there is a group of experts we can trust to provide experienced guidance, that's gartner. Gartner publishes its annual Magic Quadrant for ‘Business Intelligence and Analytics Platforms’ in February. Tech giants and institutions from all domains and industries look to this Magic Quadrant to understand which tool to look for.
This is how Gartner puts it:
“Increased capabilities are becoming key differentiators for BI and analytics platforms, at a time when cloud ecosystems also influence selection decisions. This Magic Quadrant will help data and analytics leaders advance their BI technology and analytics portfolios in light of these changes. “. – Gartner, 2020
And if you're wondering where these BI and analytics tools are in the age of artificial intelligence, Gartner also has the solution. Just look at these numbers:
- To 2022, augmented analytics technology will be ubiquitous, but only the 10% of analysts will use their full potential.
- To 2022, the 40% of machine learning model development and scoring will be done on products that don't have machine learning as their primary goal.
- To 2023, the 90% of the 500 The world's leading companies will have converged governance analyticsAnalytics refers to the process of collecting, Measure and analyze data to gain valuable insights that facilitate decision-making. In various fields, like business, Health and sport, Analytics Can Identify Patterns and Trends, Optimize processes and improve results. The use of advanced tools and statistical techniques is essential to transform data into applicable and strategic knowledge.... into broader initiatives of analytical and data governance.
- To 2025, the 80% of consumer or industrial products containing electronic products will incorporate analytics into the device.
- To 2025, data stories will be the most widespread way to consume analytics, and the 75% of stories will be generated automatically using augmented analysis techniques.
That is incredible!
Looking for the Magic Quadrant 2020 Gartner for Data Science and Machine Learning Tools? Here you have!
Gartner Framework for the Magic Quadrant 2020 analytics and BI
Business intelligence platforms such as Picture and Qlik is no longer judged based on its data visualization capabilities. That has become commonplace now and we can see it on almost every platform.. However, Gartner uses the following two functions to categorize these tools in the Magic Quadrant:
- Integrated support for business reporting capabilities
- Augmented analytics
Without any more preambles, here is the Magic Quadrant of 2020 for business intelligence and analytics tools:
Curious where these analytics tools ranked in last year's Magic Quadrant? We'll see:
You can see this year's full report on the Gartner site here. They have listed the strengths and cautions for each platform in each quadrant in detail.
Vidhya Analysis in the Magic Quadrant
- Picture, Click, Microsoft (Power BI) and ThoughtSpot retain their place in the ‘Leaders section’ of the Magic Quadrant; this is in line with our expectations. All of these tools have been immensely popular in the Business Intelligence industry and we have seen more and more institutions using these tools..
- Looker has gone from ‘niche player’ to ‘challenger’. It is definitely important to note to be attentive to this in 2020: it was a pleasant surprise for us and we will continue to see it.
- Oracle and YellowFin have made the leap of ‘niche players’ to 'visionaries’
- Alibaba Cloud is a new member this year (in the 'Challengers' category). They have made great strides in recent years. It wouldn't be surprising to see them advance next year.
What are your favorite BI and analytics tools? What movements surprised you? Let us know your thoughts in the comment section below!!
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